$957M
Median total deal value for Phase 3 oncology assets in 2026
Phase 3 oncology assets represent the highest-value licensing opportunities in biopharma. With de-risked clinical data and clear regulatory paths, these deals attract premium economics. Upfront payments reach $219M, with royalty rates of 9.9%-17.3%.
Based on analysis of 1,400+ biopharma licensing deals from 2020-2026
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