Data-driven analysis backed by 1,400+ primary-sourced biopharma transactions. Licensing benchmarks, negotiation strategies, and market intelligence.
GSK has struck a deal worth up to $1.3B with HUTCHMED for a bi-specific antibody targeting EGFR and KRAS — two of oncology's most elusive co-targets. The structure and size place it squarely within Phase 2 monoclonal antibody benchmarks, but the scientific rationale is what makes this deal worth watching. Here's what the numbers say and what dealmakers should take from it.
The median upfront payment for a Phase 2 monoclonal antibody rare disease licensing deal now sits at $340M — a number that would have been unthinkable five years ago. Here's what's driving the inflation, how the smartest deal teams are structuring terms, and where the market is heading in 2025–2026.
The median upfront for a Phase 2 small molecule cardiovascular licensing deal now sits at $340M — a figure that would have been unthinkable five years ago. We break down the benchmark data, deconstruct five real deals, and deliver the negotiation playbook BD teams and founders actually need.
GSK is acquiring Nuvalent, the ROS1/ALK-focused lung cancer biotech, for $10.6 billion — a deal that blows past every standard Phase 2 oncology acquisition benchmark by an order of magnitude. Here's what the premium signals about where Big Pharma is placing its bets on small molecule targeted oncology in 2026.
The median upfront for a Phase 2 bispecific antibody metabolic licensing deal has hit $340M — a number that would have been inconceivable three years ago. We break down the benchmark data, deconstruct the biggest comparable deals, and deliver the negotiation playbook BD teams actually need.
The median upfront payment for a Phase 2 ADC immunology licensing deal has hit $340M — a number that would have been considered fantasy three years ago. We break down the benchmark data, deconstruct five real 2025 comparable deals, and deliver a tactical negotiation playbook for both biotech founders and pharma BD teams.
Roche has committed up to $700M to license Nurix Therapeutics' BTK protein degrader bexobrutideg, marking one of the more significant small molecule oncology collaboration deals of 2026. The upfront terms signal that Big Pharma is willing to pay a meaningful premium for differentiated degrader assets. Here's how the deal stacks up against benchmark data and what it means for BD teams working similar assets.
Roche has committed up to $700M to Nurix Therapeutics for rights to bexobrutideg, a BTK-targeting protein degrader in Phase 2. The deal lands at the floor of Phase 2 oncology total value benchmarks — but the modality premium and strategic timing tell a more complicated story.
The median upfront for an anti-VEGF neurology licensing deal at Phase 2 has reached $316M — a figure that would have been unthinkable three years ago. Here's what's driving valuations, how the biggest recent neurology deals were structured, and what your term sheet should look like.
The median upfront for a Phase 2 GLP-1 agonist oncology licensing deal now sits at $316M — a figure that would have been considered a Phase 3 premium just two years ago. Here's the full benchmark breakdown, deal deconstructions, and a negotiation playbook built for the current market.
The median upfront for a Phase 2 PROTAC women's health licensing deal now sits at $316M — a number that would have been unthinkable three years ago. We deconstruct the benchmark data, break down real comparable deals, and lay out the negotiation playbook for both founders and BD teams.
Eli Lilly just bet $1.9 billion on RNA exon editing through a new pact with Ascidian Therapeutics targeting kidney disease. The deal is a landmark for an emerging modality — and a data point every BD team should be watching. Here's the full breakdown.
The median upfront for a Phase 2 mRNA gastroenterology licensing deal has hit $316M — a number that would have been unthinkable three years ago. Here's how the deal structures actually break down, what the comparable transactions reveal about buyer conviction, and where the negotiation leverage really sits.
The median upfront for an RNAi dermatology licensing deal at Phase 2 has hit $316M — a number that would have been absurd five years ago. Here's what's driving the premium, how the biggest deals were structured, and what your next term sheet should look like.
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