Regeneron
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×0.83 | 22 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| phase 3 | ×0.75 | 6 |
| preclinical | ×0.74 | 6 |
| approved | ×1.50 | 5 |
| phase 1 | ×0.73 | 4 |
| phase 2 | ×0.70 | 3 |
Strategy profile
Based on 15 disclosed transactions, Regeneron concentrates its licensing activity in Oncology, Cardiovascular, and Ophthalmology. Regeneron pays a 0.85x discount to market median, with the strongest premiums in Oncology (0.83x). Their most common deal structure is Collaboration, with an average disclosed value of $1.4B. Most recent activity: 2026.
Premium by therapeutic area
How Regeneron pays relative to peer medians in each TA
Pipeline coverage & gaps
Regeneron has disclosed activity in 1 of 12 tracked therapeutic areas. Gaps may represent whitespace opportunities for licensors.
Deal type breakdown
How this buyer structures its transactions
| Deal type | Count | Avg upfront | Avg total value |
|---|---|---|---|
| CollaborationPrimary | 9 | $92M | $1.6B |
| Option | 4 | $59M | $763M |
| License | 1 | $19M | $272M |
| Acquisition | 1 | $376M | $2.6B |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | Conditionally activated antibody / T-cell engager programs (up to 8 targets) | CytomX Therapeutics | oncology (multiple immuno-oncology targets) | discovery | — | $2.0B |
| 2026 | Multiple targets (collaboration expansion) | CytomX Therapeutics | cancer | unknown | — | $2.0B |
| 2026 | Conditionally activated BTK inhibitor program | CytomX Therapeutics | oncology / immuno-oncology | preclinical | $37M | $2.0B |
| 2026 | Probody conditionally activated biologics platform (includes REGN7075 and additional preclinical oncology targets) | CytomX Therapeutics | oncology | preclinical | $37M | $2.0B |
| 2026 | — | Telix Pharmaceuticals Limited | solid tumors including lung cancer | discovery | $40M | $2.1B |
| 2025 | B7-H4-201 | Hengrui Medicine | AML | preclinical | $19M | $272M |
| 2024 | atherosclerosis | Intellia Therapeutics | atherosclerosis | phase_1 | $75M | $700M |
| 2024 | dyslipidemia | Alnylam Pharmaceuticals | dyslipidemia | phase_2 | $250M | $1.4B |
| 2024 | Nectin-4-301 | Argenx | DLBCL | phase_1 | $111M | $1.2B |
| 2023 | PD-1 | Gritstone bio | Bladder | preclinical | $87M | $1.2B |
| 2022 | TIM-3-201 | Turning Point Therapeutics | SCLC | discovery | — | $1.2B |
| 2022 | ATR | Denali Therapeutics | Prostate | phase_2 | $376M | $2.6B |
| 2019 | BTK | Forma Therapeutics | Melanoma | phase_1 | $114M | $1.0B |
| 2019 | Sustained-release aflibercept | Ocular Therapeutix | Wet Age-Related Macular Degeneration | preclinical | $10M | $315M |
| 2019 | Nectin-4-001 | Galapagos | T-cell Lymphoma | preclinical | $28M | $303M |
How this is computed
For each Regeneron deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 25 disclosed deal premiums vs. peer medians. Raw premium 0.850, clamped to [0.7, 1.5].