Peptide Phase 3 Licensing Benchmarks
Deal economics across 7 transactions with 6 disclosed upfront payments. Primary-source-verified from SEC EDGAR, FTC filings, and direct research.
Median Upfront
$600M
6 deals with terms
Median Total Value
$1.1B
Upfront + milestones
Royalty Range
10%--20%
Average low--high
Deal Count
7
2018--2026
The median upfront payment for phase 3 peptide licensing deals is $600M, based on 6 deals with disclosed terms from 2018--2026. Total deal values (including milestones) reach a median of $1.1B. Royalty rates typically range from 10% to 20%. 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 |
|---|---|---|---|---|
| 89bio | Roche | 2025 | $2.4B | $3.5B |
| Protagonist Therapeutics | J&J | 2024 | $1.0B | $1.0B |
| Amolyt Pharma | AstraZeneca | 2024 | $800M | $1.1B |
Showing 3 of 6 deals with disclosed terms. Full comp set available in the report.
Full Peptide phase-3 Comp Set
Get the complete analysis -- 6 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, 2018--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.