Multiple Myeloma Licensing Deal Benchmarks
Market Analysis
Multiple myeloma is among the most actively licensed hematologic indications, driven by a large and growing patient population and a well-defined treatment landscape with multiple lines of therapy. Phase 2 myeloma deals carry a median total deal value of $1.8B, with upfront payments between $160M and $405M.
Deal structures reflect the established development pathway in myeloma. Development milestones average $383M, while regulatory milestones contribute $613M and commercial milestones reach $537M. The overall structure splits approximately 16% upfront and 84% milestones.
Royalty rates for myeloma licensing agreements range from 12.2% to 22.1% at the base tier, escalating to 26.1% on high-volume sales. Bispecific antibodies targeting BCMA, GPRC5D, and FcRH5 are commanding the highest valuations, followed by novel CAR-T approaches and next-generation immunomodulators.
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Frequently Asked Questions
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