mRNA Approved Licensing Benchmarks
Deal economics across 8 transactions with 3 disclosed upfront payments. Primary-source-verified from SEC EDGAR, FTC filings, and direct research.
Median Upfront
$950M
3 deals with terms
Median Total Value
$2.3B
Upfront + milestones
Royalty Range
11%--25%
Average low--high
Deal Count
8
2022--2026
The median upfront payment for approved mrna licensing deals is $950M, based on 3 deals with disclosed terms from 2022--2026. Total deal values (including milestones) reach a median of $2.3B. Royalty rates typically range from 11% to 25%. All data is primary-source-verified from SEC EDGAR, FTC pre-merger filings, and company press releases.
Representative Transactions
| Licensor | Licensee | Year | Upfront | Total Value |
|---|---|---|---|---|
| Gritstone bio | Roche | 2022 | $1.2B | $6.6B |
| Genevant/Arbutus | Moderna | 2026 | $950M | $2.3B |
| Emergent BioSolutions | Bavarian Nordic | 2023 | $270M | $380M |
Full mRNA Approved Comp Set
Get the complete analysis -- 3 deals with upfronts, milestones, royalties, and term structures.
Primary-source-verified from SEC EDGAR, FTC filings, and direct research
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This analysis draws from the Ambrosia Ventures proprietary deal database (1,600+ verified biopharma transactions, 2022--2026). All deal terms are primary-source-verified from SEC EDGAR (10-K, 10-Q, 8-K filings), FTC pre-merger notifications, FDA Orange Book, and company press releases. No secondary-source or scraped data is included. Medians are calculated from deals with disclosed financial terms only.