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Hidradenitis Suppurativa — Deal Benchmarks & Valuation

Median Upfront
$418M
Range: $229M - $599M
Total Deal Value
$2.3B
Range: $1.5B - $3.0B
Royalty Rate
6.6% - 13.3%
Tiered up to 17.3%
Dev Milestones
$366M
Range: $247M - $488M

Market Analysis

Hidradenitis Suppurativa is one of the most actively transacted indications in dermatology licensing. Phase 2 deals for hidradenitis suppurativa carry a median total deal value of $2.3B, with upfront payments ranging from $229M to $599M. The recommended deal structure allocates approximately 19% to upfront payments and 81% to milestones.

Milestone structures for hidradenitis suppurativa deals allocate $366M to development milestones, $458M to regulatory milestones, and $1.0B to commercial milestones. Royalty rates range from 6.6% to 13.3% at the base tier, with tiered escalation reaching 10.6%-17.3% 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 $418M in upfront payments with $2.3B 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 6.6% to 13.3%, with tiered escalations reaching 10.6%-17.3% 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 ($366M) make up the largest share, followed by commercial milestones ($1.0B) and regulatory milestones ($458M).
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