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 482 verified transactions.
482
Total Deals
$739M
Avg Upfront
7
Deal Types
100%
Terms Disclosed
Deal Structure Distribution
212
license
101
acquisition
99
collaboration
52
option
10
co development
Recent Deals with Disclosed Terms
| Parties | Type | Upfront | Total Value | Date |
|---|---|---|---|---|
Atai Life Sciences / Beckley Psytech → Eli Lilly BPL-003 and VLS-01 (psychedelics portfolio) | acquisition | $2.8B | $3.8B | Sep 2026 |
Mantle Therapeutics → Lexeo Therapeutics LX3010 (MTL-104), LX3030 (MTL-707), LX3050 (MTL-501), LX3070 (MTL-801) | acquisition | $8M | $21M | Sep 2026 |
FirstBio → SK Biopharmaceuticals 1ST-104 (c-Abl and LRRK2 dual inhibitor) | license | $2M | $315M | Sep 2026 |
Sironax → Novartis Blood-brain-barrier drug-delivery platform | option | $125M | — | Sep 2026 |
AtaiBeckley → Eli Lilly BPL-003 and VLS-01 | acquisition | $2.8B | $3.8B | Sep 2026 |
BioXcel Therapeutics → Teva IGALMI (dexmedetomidine sublingual film) | acquisition | $58M | $125M | Aug 2026 |
Biohaven → SK Biopharmaceuticals opakalim (BHV-7000) | license | $400M | $1.3B | Aug 2026 |
Biohaven → SK Biopharmaceuticals opakalim | license | $400M | $795M | Aug 2026 |
Biohaven Pharmaceuticals → SK Biopharmaceuticals Opakalim (BHV-7000) | license | $400M | $795M | Aug 2026 |
Biohaven Ltd. → SK Biopharmaceuticals Co., Ltd. Opakalim (Kv7 platform) | license | $400M | $795M | Aug 2026 |
Benchmark Your Neurology & CNS Deal
Get instant benchmarks for upfront payments, milestones, and royalties based on 482 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.