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Hidradenitis Suppurativa — Deal Benchmarks & Valuation

Median Upfront
$541M
Range: $287M - $783M
Total Deal Value
$2.8B
Range: $1.7B - $3.9B
Royalty Rate
13.7% - 22.9%
Tiered up to 26.9%
Dev Milestones
$456M
Range: $292M - $622M

Market Analysis

Hidradenitis Suppurativa is one of the most actively transacted indications in immunology licensing. Phase 2 deals for hidradenitis suppurativa carry a median total deal value of $2.8B, with upfront payments ranging from $287M to $783M. The recommended deal structure allocates approximately 19% to upfront payments and 81% to milestones.

Milestone structures for hidradenitis suppurativa deals allocate $456M to development milestones, $798M to regulatory milestones, and $1.0B to commercial milestones. Royalty rates range from 13.7% to 22.9% at the base tier, with tiered escalation reaching 17.7%-26.9% on peak sales.

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Frequently Asked Questions

What are typical deal terms for hidradenitis suppurativa licensing?
Phase 2 hidradenitis suppurativa licensing deals average $541M in upfront payments with $2.8B total deal value. The 19/81 upfront/milestone split reflects the risk profile at this clinical stage.
What royalty rates are standard for hidradenitis suppurativa deals?
Base royalty rates for hidradenitis suppurativa transactions range from 13.7% to 22.9%, with tiered escalations reaching 17.7%-26.9% on peak sales. Rates are influenced by mechanism differentiation, competitive positioning, and territorial scope.
How are hidradenitis suppurativa deal milestones structured?
Hidradenitis Suppurativa deals allocate approximately 81% of total deal value to milestones. Development milestones ($456M) make up the largest share, followed by commercial milestones ($1.0B) and regulatory milestones ($798M).
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