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Depression / MDD — Deal Benchmarks & Valuation

Median Upfront
$291M
Range: $144M - $439M
Total Deal Value
$2.6B
Range: $1.5B - $3.6B
Royalty Rate
11.8% - 18.8%
Tiered up to 22.8%
Dev Milestones
$753M
Range: $462M - $1.0B

Market Analysis

Depression / MDD is one of the most actively transacted indications in neurology licensing. Phase 2 deals for depression / mdd carry a median total deal value of $2.6B, with upfront payments ranging from $144M to $439M. The recommended deal structure allocates approximately 11% to upfront payments and 89% to milestones.

Milestone structures for depression / mdd deals allocate $753M to development milestones, $821M to regulatory milestones, and $707M to commercial milestones. Royalty rates range from 11.8% to 18.8% at the base tier, with tiered escalation reaching 15.8%-22.8% on peak sales.

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Frequently Asked Questions

What are typical deal terms for depression / mdd licensing?
Phase 2 depression / mdd licensing deals average $291M in upfront payments with $2.6B total deal value. The 11/89 upfront/milestone split reflects the risk profile at this clinical stage.
What royalty rates are standard for depression / mdd deals?
Base royalty rates for depression / mdd transactions range from 11.8% to 18.8%, with tiered escalations reaching 15.8%-22.8% on peak sales. Rates are influenced by mechanism differentiation, competitive positioning, and territorial scope.
How are depression / mdd deal milestones structured?
Depression / MDD deals allocate approximately 89% of total deal value to milestones. Development milestones ($753M) make up the largest share, followed by commercial milestones ($707M) and regulatory milestones ($821M).
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