Neurology & CNS Deal Benchmarks
Neurology overtook oncology in total deal value in 2026, driven by blockbuster Alzheimer's and neuropsychiatry transactions. Benchmark licensing terms for CNS, epilepsy, migraine, Parkinson's, and schizophrenia deals. Benchmarks derived from 130 verified transactions.
130
Total Deals
$925M
Avg Upfront
6
Deal Types
100%
Terms Disclosed
Deal Structure Distribution
37
license
33
acquisition
22
collaboration
21
option
10
co development
Recent Deals with Disclosed Terms
| Parties | Type | Upfront | Total Value | Date |
|---|---|---|---|---|
Adneuris Therapeutics → Zhejiang Conba Pharmaceutical Co., Ltd. Cebranopadol | license | $18M | $118M | Jul 2026 |
Nxera Pharma → Boehringer Ingelheim HTL-0048149 (GPR52 agonists) | option | $27M | $825M | Jun 2026 |
Centessa Pharmaceuticals → Eli Lilly cleminorexant | acquisition | $6.3B | $6.3B | Jun 2026 |
Ascidian Therapeutics → Eli Lilly and Company RNA exon-editing candidates | collaboration | $42M | $1.9B | Jun 2026 |
Avadel Pharmaceuticals → Alkermes Avadel narcolepsy/sleep medicine franchise | acquisition | $2.1B | $2.1B | Jun 2026 |
AriBio → Fosun Pharma phase 3 Alzheimer's candidate | option | $60M | — | May 2026 |
Neurona Therapeutics → UCB NRTX-1001 | acquisition | $650M | $1.1B | Apr 2026 |
Haisco Pharmaceutical Group → AbbVie HSK55718 and HSK51155 | license | $30M | $745M | Apr 2026 |
AC Immune → Lilly Alzheimer's collaboration | collaboration | $13M | — | Apr 2026 |
AC Immune SA → Eli Lilly and Company Morphomer Tau | license | $10M | $1.7B | Apr 2026 |
Benchmark Your Neurology & CNS Deal
Get instant benchmarks for upfront payments, milestones, and royalties based on 130 verified neurology & cns transactions.
Neurology & CNS Deal Benchmarking FAQ
Why did neurology deal values surpass oncology in 2026?
Several mega-deals in Alzheimer's disease and neuropsychiatry pushed CNS total deal value above oncology in 2026. The success of anti-amyloid antibodies validated the target, triggering a wave of next-generation partnerships. Neuropsychiatry also saw renewed interest with novel mechanisms for treatment-resistant depression and schizophrenia.
What are typical deal structures for CNS licensing agreements?
CNS deals typically feature higher upfronts relative to total deal value compared to oncology, reflecting longer development timelines and higher clinical failure rates in the CNS. Opt-in/opt-out structures are common, allowing licensees to evaluate Phase 2 data before committing to full development costs.
How do neurology royalty rates compare across indications?
Neurology royalty rates vary significantly by indication. Alzheimer's disease deals command premium royalties (18-25%+ for late-stage assets) given the massive commercial opportunity. Epilepsy and migraine deals typically see lower royalties (8-15%) due to established competition, while rare neurological conditions fall in between.