Hematology Deal Benchmarks
Benchmark deal terms across leukemia, lymphoma, myeloma, sickle cell disease, and hemophilia. Hematology deals are driven by CAR-T cell therapy licensing, gene therapy for hemoglobinopathies, and next-gen bispecifics. Benchmarks derived from 54 verified transactions.
54
Total Deals
$649M
Avg Upfront
4
Deal Types
100%
Terms Disclosed
Deal Structure Distribution
16
license
24
acquisition
11
collaboration
3
option
0
co development
Recent Deals with Disclosed Terms
| Parties | Type | Upfront | Total Value | Date |
|---|---|---|---|---|
Silence Therapeutics → Hansoh Pharmaceutical mRNAi GOLD platform (siRNA therapies, 3 targets) | option | $16M | — | Jun 2026 |
Vega Therapeutics (Star Therapeutics) → Incyte Late-stage von Willebrand disease drug | acquisition | $1.3B | $2.0B | Jun 2026 |
Agios Pharmaceuticals → Vulcan Experimental blood-disorder drug | license | $10M | $165M | Jun 2026 |
Vega Therapeutics → Incyte factor VIII-independent bleeding disorder program | acquisition | $730M | $2.0B | May 2026 |
Protagonist Therapeutics → Takeda rusfertide | license | $475M | — | Apr 2026 |
Keros Therapeutics → Takeda anemia | license | $200M | $200M | Dec 2024 |
Curon Biopharmaceutical → Merck hematologic_malignancies | acquisition | $700M | $1.3B | Oct 2024 |
Disc Medicine → Novo Nordisk thalassemia | license | $100M | $1.2B | Sep 2024 |
MorphoSys → Novartis myelofibrosis | acquisition | $2.9B | $2.9B | Jan 2024 |
Prime Medicine → Bristol Myers Squibb Prime gene editing CAR-T | collaboration | $110M | $3.6B | Jan 2024 |
Benchmark Your Hematology Deal
Get instant benchmarks for upfront payments, milestones, and royalties based on 54 verified hematology transactions.
Hematology Deal Benchmarking FAQ
How are CAR-T cell therapy deals structured in 2026?
CAR-T deals have evolved beyond the initial licensing wave to feature more sophisticated structures. Allogeneic (off-the-shelf) CAR-T deals command premium upfronts ($100M-$400M+) given the manufacturing scalability advantage. Autologous CAR-T deals are increasingly structured as co-development or profit-sharing arrangements, with royalties of 15-25% for licensed products.
What deal terms are typical for sickle cell gene therapy?
Sickle cell gene therapy deals are among the highest-valued in hematology, reflecting the curative potential and large addressable population. Following the approval of gene therapies for SCD, next-gen approaches (in vivo gene editing, non-viral delivery) are seeing upfronts of $100M-$300M+ with total deal values exceeding $2B.
How do bispecific antibody hematology deals compare to solid tumor deals?
Hematology bispecific deals typically feature higher upfronts than solid tumor bispecifics due to the validated mechanism (following blinatumomab and teclistamab approvals). CD20xCD3, BCMAxCD3, and novel target combinations see upfronts of $75M-$250M, with royalties of 12-20%. The competitive landscape is more defined, allowing more confident valuation benchmarking.