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Multiple Sclerosis — Deal Benchmarks & Valuation

Median Upfront
$259M
Range: $129M - $391M
Total Deal Value
$2.3B
Range: $1.4B - $3.2B
Royalty Rate
11.4% - 18.2%
Tiered up to 22.2%
Dev Milestones
$671M
Range: $411M - $929M

Market Analysis

Multiple Sclerosis is one of the most actively transacted indications in neurology licensing. Phase 2 deals for multiple sclerosis carry a median total deal value of $2.3B, with upfront payments ranging from $129M to $391M. The recommended deal structure allocates approximately 11% to upfront payments and 89% to milestones.

Milestone structures for multiple sclerosis deals allocate $671M to development milestones, $732M to regulatory milestones, and $630M to commercial milestones. Royalty rates range from 11.4% to 18.2% at the base tier, with tiered escalation reaching 15.4%-22.2% on peak sales.

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Frequently Asked Questions

What are typical deal terms for multiple sclerosis licensing?
Phase 2 multiple sclerosis licensing deals average $259M in upfront payments with $2.3B total deal value. The 11/89 upfront/milestone split reflects the risk profile at this clinical stage.
What royalty rates are standard for multiple sclerosis deals?
Base royalty rates for multiple sclerosis transactions range from 11.4% to 18.2%, with tiered escalations reaching 15.4%-22.2% on peak sales. Rates are influenced by mechanism differentiation, competitive positioning, and territorial scope.
How are multiple sclerosis deal milestones structured?
Multiple Sclerosis deals allocate approximately 89% of total deal value to milestones. Development milestones ($671M) make up the largest share, followed by commercial milestones ($630M) and regulatory milestones ($732M).
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