ADC vs Radiopharmaceutical — Oncology Deal Terms Comparison
Market Analysis
In oncology, ADC and Radiopharmaceutical represent two of the most actively transacted modalities. At Phase 2, ADC deals carry a median total deal value of $2.6B with $411M upfront, compared to $2.6B total value and $407M upfront for Radiopharmaceutical. The valuation difference reflects distinct risk-reward profiles, manufacturing complexity, and competitive dynamics.
Milestone structures diverge between the two modalities. ADC development milestones average $550M versus $553M for Radiopharmaceutical. Commercial milestones are $770M for ADC and $774M for Radiopharmaceutical. Royalty rates range from 13.6%-22.2% for ADC and 13.6%-22.2% for Radiopharmaceutical.
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Frequently Asked Questions
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