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Multiple Sclerosis (Immunology) — Deal Benchmarks & Valuation

Median Upfront
$521M
Range: $276M - $754M
Total Deal Value
$2.7B
Range: $1.7B - $3.7B
Royalty Rate
13.6% - 22.6%
Tiered up to 26.6%
Dev Milestones
$439M
Range: $282M - $599M

Market Analysis

Multiple Sclerosis (Immunology) is one of the most actively transacted indications in immunology licensing. Phase 2 deals for multiple sclerosis (immunology) carry a median total deal value of $2.7B, with upfront payments ranging from $276M to $754M. The recommended deal structure allocates approximately 19% to upfront payments and 81% to milestones.

Milestone structures for multiple sclerosis (immunology) deals allocate $439M to development milestones, $768M to regulatory milestones, and $988M to commercial milestones. Royalty rates range from 13.6% to 22.6% at the base tier, with tiered escalation reaching 17.6%-26.6% on peak sales.

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Frequently Asked Questions

What are typical deal terms for multiple sclerosis (immunology) licensing?
Phase 2 multiple sclerosis (immunology) licensing deals average $521M in upfront payments with $2.7B total deal value. The 19/81 upfront/milestone split reflects the risk profile at this clinical stage.
What royalty rates are standard for multiple sclerosis (immunology) deals?
Base royalty rates for multiple sclerosis (immunology) transactions range from 13.6% to 22.6%, with tiered escalations reaching 17.6%-26.6% on peak sales. Rates are influenced by mechanism differentiation, competitive positioning, and territorial scope.
How are multiple sclerosis (immunology) deal milestones structured?
Multiple Sclerosis (Immunology) deals allocate approximately 81% of total deal value to milestones. Development milestones ($439M) make up the largest share, followed by commercial milestones ($988M) and regulatory milestones ($768M).
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