Oncology Deal Benchmarks
The most active therapeutic area for biopharma deals. Benchmark licensing terms, ADC partnerships, immuno-oncology collaborations, and M&A across solid tumors and hematologic malignancies. Benchmarks derived from 540 verified transactions.
540
Total Deals
$136M
Avg Upfront
6
Deal Types
100%
Terms Disclosed
Deal Structure Distribution
134
license
115
acquisition
136
collaboration
73
option
78
co development
Recent Deals with Disclosed Terms
| Parties | Type | Upfront | Total Value | Date |
|---|---|---|---|---|
HUTCHMED → GSK HMPL-A830 | license | $110M | $1.3B | Sep 2026 |
Mersana Therapeutics, Inc. → Johnson & Johnson (Janssen) Dolasynthem ADC platform | collaboration | $40M | — | Aug 2026 |
Dizal Pharmaceutical → AstraZeneca Zegfrovy | license | $600M | $1.5B | Jul 2026 |
Hansoh Pharmaceutical → GSK risvutatug rezetecan (ris-rez) / HS-20093 | license | $185M | $1.7B | Jul 2026 |
Astex Pharmaceuticals → Roche | collaboration | $25M | $490M | Jul 2026 |
Astex Pharmaceuticals → Roche/Genentech | license | $25M | $490M | Jul 2026 |
Antares → Novartis multi-target oncology discovery collaboration | collaboration | $105M | $1.9B | Jun 2026 |
Antares Therapeutics → Novartis undisclosed cancer target programs | license | $105M | $1.9B | Jun 2026 |
CytomX → Amgen Probody bispecific (EGFR) | co development | $40M | — | Jun 2026 |
Xencor → Genentech XmAb24306 | co development | $120M | — | Jun 2026 |
Benchmark Your Oncology Deal
Get instant benchmarks for upfront payments, milestones, and royalties based on 540 verified oncology transactions.
Oncology Deal Benchmarking FAQ
What are typical upfront payments in oncology licensing deals?
Oncology licensing upfronts vary widely by modality and stage. ADC and bispecific deals command premium upfronts ($50M-$300M+ for clinical-stage assets), while small molecule oncology deals typically range $20M-$100M. Solidus benchmarks are derived from verified SEC filings and press releases across all oncology sub-segments.
How do oncology deal structures compare to other therapeutic areas?
Oncology consistently leads in total deal volume and competition for assets. Deals tend to feature higher milestone-to-upfront ratios, reflecting clinical risk in late-stage trials. Royalty rates for marketed oncology products typically range 15-25%, above the cross-TA median of 10-18%.
What oncology modalities are driving the most deal activity in 2026?
ADCs (antibody-drug conjugates), bispecific antibodies, and radiopharmaceuticals are the most active oncology modalities in 2026. ADC deals have seen upfront payments increase 40%+ since 2023, driven by competition for next-gen payloads and novel targets beyond HER2 and Trop2.