Gene Therapy vs ASO — Rare Disease Deal Terms Comparison
Market Analysis
In rare disease, Gene Therapy and ASO represent two of the most actively transacted modalities. At Phase 2, Gene Therapy deals carry a median total deal value of $1.6B with $285M upfront, compared to $2.5B total value and $456M upfront for ASO. The valuation difference reflects distinct risk-reward profiles, manufacturing complexity, and competitive dynamics.
Milestone structures diverge between the two modalities. Gene Therapy development milestones average $283M versus $441M for ASO. Commercial milestones are $682M for Gene Therapy and $1.1B for ASO. Royalty rates range from 7.8%-15.6% for Gene Therapy and 8.2%-16.4% for ASO.
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Frequently Asked Questions
How do Gene Therapy and ASO deal terms compare in rare disease?
Which modality commands higher royalty rates: Gene Therapy or ASO?
How do milestone structures differ between Gene Therapy and ASO?
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