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Multiple Myeloma — Deal Benchmarks & Valuation

Median Upfront
$383M
Range: $213M - $542M
Total Deal Value
$2.4B
Range: $1.6B - $3.3B
Royalty Rate
13.3% - 21.7%
Tiered up to 25.7%
Dev Milestones
$512M
Range: $342M - $685M

Market Analysis

Multiple Myeloma is one of the most actively transacted indications in oncology licensing. Phase 2 deals for multiple myeloma carry a median total deal value of $2.4B, with upfront payments ranging from $213M to $542M. The recommended deal structure allocates approximately 16% to upfront payments and 84% to milestones.

Milestone structures for multiple myeloma deals allocate $512M to development milestones, $819M to regulatory milestones, and $717M to commercial milestones. Royalty rates range from 13.3% to 21.7% at the base tier, with tiered escalation reaching 17.3%-25.7% on peak sales.

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Frequently Asked Questions

What are typical deal terms for multiple myeloma licensing?
Phase 2 multiple myeloma licensing deals average $383M in upfront payments with $2.4B total deal value. The 16/84 upfront/milestone split reflects the risk profile at this clinical stage.
What royalty rates are standard for multiple myeloma deals?
Base royalty rates for multiple myeloma transactions range from 13.3% to 21.7%, with tiered escalations reaching 17.3%-25.7% on peak sales. Rates are influenced by mechanism differentiation, competitive positioning, and territorial scope.
How are multiple myeloma deal milestones structured?
Multiple Myeloma deals allocate approximately 84% of total deal value to milestones. Development milestones ($512M) make up the largest share, followed by commercial milestones ($717M) and regulatory milestones ($819M).
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