Deal DateR&DLicensor CategoryClientLicensee CategoryDeal TypesStagesSize ($M)
Upfront Cash ($M)
Deal SubjectWeb LinkDeal IDPrimary DocEquity ($M)Maximum Share (%)Amendment DateTermination DateContractsPRsDeal SourceExclusivityDiseasesIndicationsTechnologiesSub TechnologiesTerritorySub-TerritoryCompound NameMOA CategoryMechanism of ActionMolecular TargetDrug Mode of Action
Upfront Equity ($M)
Contingent Equity ($M)
R&D Support ($M)
FTE Rate ($M)Loan ($M)
Dev / Reg Milestones ($M)
Other Milestones ($M)
Total Precommercial Payments ($M)
Sales Milestones ($M)
Deal Size ($M)
Upfront Share (%)
Dev Share (%)Sales Share (%)EFR$200M (%)EFR$500M (%)EFR$1B (%)Maximum Royalty (%)
Marketing Fee (%)
Transfer Price (%)
Manufacture Cost + (%)
Profit Split (%)Financial Term Explanations
06/2021AnHeart TherapeuticsInnovent BiologicsCo-Development, License, SupplyPhase II 189.00 Taletrectinib tyrosine kinase inhibitor targeting ROS1 and NTRK in Greater ChinaLink18709AnHeart_Innovent_060121.pdfYesPRExclusiveCancerLung, Solid TumorsSyntheticsSmall MoleculeAsiaChinataletrectinib, DS-6051Kinase
neurotrophic tyrosine kinase receptor 1 (NTRK1), c-ros proto-oncogene 1 receptor tyrosine kinase (ROS1)
Inhibitor 189.00
tiered royalties | upfront payment, R&D fees, and potential milestone payments totaling $189M
06/2021Arrowhead PharmaceuticalsHorizon TherapeuticsLicensePreclinical 700.00 40.00 ARO-XDH RNAi therapeutic targeting xanthine dehydrogenase to treat uncontrolled goutLink18860Arrowhead_Horizon_062121.pdfYesPRExclusiveAutoimmune/InflammatoryOther Autoimmune/InflammatoryOligonucleotidesRNAiWorldwide 700.00 5.71
Royalties ranging from the low- to mid-teens | $660M in development, regulatory and commercial milestones
06/2021Beam Therapeutics2013-21 IPOsApellis Pharmaceuticals2013-21 IPOs
Co-Development, Co-Promotion, Option, Research
Discovery 75.00 75.00 Base editing technology for up to six research programs focused on C3 and other complement targetsLink18944Beam_Apellis_063021.pdfYesPRExclusive
Central Nervous System, Liver & Gallbladder Diseases, Ophthalmic
Broad Focus Central Nervous System, Broad Focus Liver & Gallbladder Diseases, Broad Focus Ophthalmic
75.00 100.00
$50M upon signing and additional $25M on one-year anniversary of the contract execution date | Undisclosed development, regulatory, and sales milestones
06/2021Bolt Biotherapeutics2013-21 IPOsGenmab2013-21 IPOs
Co-Development, Equity, License, Option, Research
Discovery 880.00 10.00 Bispecific immune-stimulating antibody conjugates to treat cancerLink18742Bolt_Genmab_060221.pdf 15.00 YesPRCancerBroad Focus CancerMonoclonalsBispecific, Conjugates 15.00 880.00 2.84
$285M in milestones per therapeutic candidate, Genmab has option to up to three therapeutic candidates
06/2021CyclerionAkebia Therapeutics2013-21 IPOsLicensePhase II 585.00 Praliciguat oral sGC stimulator for renal indicationsLink18732Cyclerion_Akebia_060421.pdfYesPRExclusiveRenalSyntheticsSmall MoleculeWorldwide 225.00 585.00 38.46
Tiered royalties ranging from single-digit to high-teen percentages | $225M in pre-commercial milestones, including up to $15M in the first 18 months | Total potential future development, regulatory, and commercialization milestones up to $585M
06/2021EisaiTop Pharma, Japanese PharmaBristol-Myers SquibbTop Pharma
Co-Development, Co-Promotion, License, Supply
Phase I 3,100.00 450.00 MORAb-202 antibody drug conjugate for solid tumorsLink18842Eisai_BMS_061721.pdfYesPRExclusiveCancerSolid TumorsMonoclonalsConjugatesWorldwideeribulin/farletuzumab, MORAb-202folate receptor 1 (FOLR1)Antagonist 200.00 3,100.00 14.52 $2.45 billion in development, regulatory, and commercial milestones
06/2021Halozyme TherapeuticsViiV HealthcareLicenseFormulation 740.00 40.00 Enhanze drug delivery technology for subcutaneous formulation of four HIV drug targetsLink18862Halozyme_ViiV_062221.pdfYesPRExclusiveInfectious-ViralHuman Immunodeficiency Virus/HIVDrug Delivery, Recombinant DNAOtherWorldwide 740.00 5.41
Mid-single digit royalties | Up to $175M in development and commercial milestones, including sales milestones, per target
06/2021HeartseedNovo NordiskTop PharmaCo-Promotion, License, OptionPreclinical 598.00 55.00 HS-001 iPSC-derived cell therapy to treat heart failure ex-JapanLink18718Heartseed_NovoNordisk_060121.pdfYesPRExclusiveCardiovascularCongestive Heart FailureCell Therapy - Stem Cells/Factors
Africa, Asia, Europe, Middle East, NAFTA, South America
All African Countries, All European Countries, All Middle East Countries, All NAFTA Countries, All South American Countries, Australia, China, India, New Zealand, Other Asian, Southeast Asia
598.00 9.20
Tiered high single-digit to low double-digit royalties | Payments totaling up to $598M including $55M in upfront and near-term milestone payments
06/2021HiFiBiOFibroGen2013-21 IPOsLicense, OptionPreclinical 1,125.00 25.00 Galectin-9 program for cancer and autoimmune indications, option to CXCR5 and CCR8 programsLink18845FibroGen_HiFiBiO_0621_Lic.pdfYesYesSEC RedactedExclusiveAutoimmune/Inflammatory, Cancer
Broad Focus Autoimmune/Inflammatory, Broad Focus Cancer
MonoclonalsWorldwide 1,125.00 1,125.00 2.22
mid-single digit to low double-digit royalties, per FibroGen's 6Q21 | $1.1B in option, clinical, regulatory, and commercial milestone payments across all three programs, per FibroGen's 6Q21
06/2021iTeos Therapeutics2013-21 IPOsGlaxoSmithKlineTop PharmaCo-Development, Co-Promotion, LicensePhase I 2,075.00 625.00 EOS-448 anti-TIGIT monoclonal antibody to treat cancerLink18817iTeos_GSK_0611.pdf 50.00 YesYesSEC RedactedExclusiveCancerBroad Focus CancerMonoclonalsWorldwideEOS-448Immuno-OncologyTIGITInhibitor 550.00 1,175.00 900.00 2,075.00 30.12 26.51 43.37 50.00
ROW double-digit royalties up to 20%, per iTeos' 6Q21 | 50% US PS, per iTeos' 6Q21 | $900M, based on $1.45 billion in agg milestones, per iTeos' 6Q21 | $550M in agg dev/reg milestones for 3 indications
06/2021Kyowa Hakko KirinJapanese PharmaAmgenMajor Biotech, Top Pharma
Co-Development, Co-Promotion, License, Option
Phase II 1,250.00 400.00 KHK4083 anti-OX40 fully human mAb to treat atopic dermatitis ex-JapanLink18710KyowaKirin_Amgen_060121.pdfYesPRDermatologicDermatitisMonoclonalsHuman Abs
Africa, Asia, Europe, Middle East, NAFTA, South America
All African Countries, All European Countries, All Middle East Countries, All NAFTA Countries, All South American Countries, Australia, China, India, New Zealand, Other Asian, Southeast Asia
tumor necrosis factor receptor superfamily, member 4 (TNFRSF4) (CD134) (LY-70) (OX40) (TXGP1L) (TXGP1) (ACT35)
Inhibitor 1,250.00 32.00
400 | Kyowa Kirin and Amgen will share global development costs, except in Japan, and U.S. commercialization costs | $850M in milestones
06/2021MacroGenics2013-21 IPOsZai Laboratory2013-21 IPOsCo-Development, Equity, License, OptionLead Molecule, Discovery 1,455.00 25.00 Up to four CD3- or CD47-based bispecific antibodies for immuno-oncology indicationsLink18839MacroGenics_Zai_0621.pdf 30.00 YesYesSEC RedactedExclusiveCancerSolid TumorsMonoclonalsBispecificAsiaChina, Japan, Other Asian 30.00 800.00 855.00 600.00 1,455.00 3.78 54.98 41.24 50.00
$600M for Licensed Only Products, per MacroGenics' 6Q21 | $30M in MacroGenics’ common stock at $31.30/sh, 50% premium to FMV, per MacroGenics' 6Q21 | mid single-digit to low teen royalties, per MacroGenics' 6Q21 | $800M in agg dev/reg milestones, per MacroGenics' 6Q21 | Zai has option to convert Lead Program to global 50% PS upon payment of $85M plus cost reimb, per MacroGenics' 6Q21
06/2021MerckTop PharmaDepartment of Health and Human ServicesResearch InstitutionSupplyPhase III 1,200.00 1.7 million doses of molnupiravir (MK-4482) to treat COVID-19Link18818Merck_HHS_060921.pdfYesPRInfectious-ViralCoronavirusSyntheticsSmall Moleculemolnupiravir, MK-4482, EIDD-2801Antiviral2019-nCoV (SARS-CoV-2) (COVID-19) 1,200.00
06/2021Nuvalent2013-21 IPOsDeerfield ManagementEquity 50.00 Launch of Nuvalent with $50M Series A financingLink18834Nuvalent_Deerfield_012721.pdf 50.00 YesPRCancerSyntheticsSmall Molecule 50.00 50.00 100.00 $50M Series A financing
06/2021Ocuphire PharmaProcessa PharmaceuticalsEquity, LicensePhase II 228.25 0.20 RX-3117 (roducitabine) for treatment of pancreatic cancer ex-Greater China & SingaporeLink19204Ocuphire_Processa_0621_Lic_Full.pdf 0.30 7.50 YesYesSEC FullExclusiveCancerPancreaticSyntheticsSmall Molecule
Africa, Asia, Europe, Middle East, NAFTA, South America
All African Countries, All European Countries, All Middle East Countries, All NAFTA Countries, All South American Countries, Australia, India, Japan, New Zealand, Other Asian
roducitabine, RX-3117DNA/RNA DisruptionDNA synthesis, RNA synthesisInhibitor 0.30 12.50 7.75 20.75 207.50 228.25 0.22 5.48 90.91 7.50 7.50 7.50 7.50 44.7K shares @ $6.71/sh | $12.5M for 1st indication | $7.75M for 2nd
06/2021Opko Health, EirGen PharmaNicoya TherapeuticsLicensePhase III 125.00 5.00 Rayaldee to treat secondary hyperparathyroidism in chronic kidney disease in Greater ChinaLink18858Opko_Nicoya_062121.pdfYesPREndocrinological & MetabolicThyroid DiseaseSyntheticsSmall MoleculeAsiaChinaRayaldee, Rayaldy, calcifediol, CTAP-101, JTT-762calcitonin receptor (CALCR)Agonist 5.00 125.00 4.00 4.00
Tiered, double-digit royalties | $5M payment made during the first 12 months of the agreement or upon Nicoya achieving a certain predetermined development milestone | Up to $115M in development, regulatory and sales-based milestones
06/2021PhaseBio2013-21 IPOsAlfasigma USALicensePhase III 245.00 20.00 Bentracimab to reverse antiplatelet effects of ticagrelor in EuropeLink18856PhaseBio_Alfasigma_061721.pdfYesPRExclusiveHematologicOther HematologicMonoclonalsFragmentsEurope
Eastern Europe, European Union, Other European, Russia, United Kingdom
bentracimab, MEDI-2452, PB-2452Antiplatelet 35.00 55.00 190.00 245.00 8.16 14.29 77.55
Tiered royalties ranging from low double digits to mid-twenties | $35M in pre-revenue regulatory milestones
06/2021Proteros biostructuresAstraZenecaTop PharmaLicense, ResearchDiscovery 75.00 Structure-based drug discovery to identify small molecules to treat various types of cancerLink18725Proteros_AZ_060221.pdfYesPRCancerBroad Focus CancerSyntheticsSmall Molecule 75.00
tiered royalties | AZ will provide research funding and Proteros is eligible for success-based research, development, and commercial milestone payments up to 62 million EUR (US$75M)
06/2021Shenzhen Pregene BiopharmaDr. Reddy's LaboratoriesMid Tier PharmaLicense, SupplyPhase I, Orphan Indication 162.50 PRG1801 anti-BCMA CAR-T therapy injection to treat multiple myeloma in IndiaLink18910Pregene_DrReddys_051321.pdfYesPRExclusiveCancerMultiple MyelomaCell Therapy - Stem Cells/FactorsAsiaIndiaPRG1801ImmunotherapyT lymphocyte, B-cell maturation antigen (BCMA)Replacer 162.50
Double-digit royalty, up to $150 M | $5M in upfront payment and future milestone payments for first indication and up to $7.5M in milestones for subsequent indications
06/2021Shoreline BiosciencesGilead, Kite PharmaMajor Biotech, 2013-21 IPOsLicense, Option 2,300.00 Allogeneic cell therapies with focus on chimeric antigen receptor NK targets for hematologic cancersLink18844Shoreline_Kite_061721.pdfYesPRCancerLeukemia, Lymphoma, Multiple MyelomaCell Therapy - Stem Cells/Factors 2,300.00
undisclosed upfront payment | Kite invested in Shoreline's April $43M series A financing | $2.3 billion in additional payments if certain development and commercial goals are met
06/2021Spero Therapeutics2013-21 IPOsPfizerTop PharmaEquity, LicensePhase I 120.00 SPR206 to treat multi-drug resistant Gram-negative infections ex-US and ex-AsiaLink18956Spero_Pfizer_0621_Lic.pdf 40.00 YesYesSEC RedactedExclusiveInfectious-BacterialOther Infectious-BacterialSyntheticsSmall Molecule
Africa, Europe, Middle East, NAFTA, South America
All African Countries, All European Countries, All Middle East Countries, All South American Countries, Canada, Mexico
SPR206Antibacterial 40.00 120.00 120.00 33.33
2,362,348 shares of common at $16.93/sh (45% premium over FMV), per Spero's 6Q21 | High single digit to low double-digit royalties, per Spero's 6Q21 | $80M in agg milestones, per Spero's 6Q21
06/2021Verona Pharmaceuticals2013-21 IPOsNuance BiotechEquity, LicensePhase III 219.00 25.00 Ensifentrine PDE3 and PDE4 dual inhibitor for respiratory indications in Greater ChinaLink18820Verona_Nuance_061021.pdfYesPRExclusiveRespiratory
Asthma, Chronic Obstructive Pulmonary Disease, Cystic Fibrosis
SyntheticsSmall MoleculeAsiaChinaensifentrine, RPL 554, LS-193855Enzyme Inhibitorphosphodiesterase-4 (PDE-4), phosphodiesterase-3 (PDE-3)Inhibitor 15.00 219.00 18.26
Tiered double-digit royalties | $179M in clinical, regulatory, and commercial milestones
06/2021Vivoryon TherapeuticsSimcere PharmaceuticalLicense, OptionPhase II, Preclinical 565.00 Varoglutamstat and PBD-C06 N3pE amyloid-targeting medicines for Alzheimer’s disease in Greater ChinaLink18955Vivoryon_Simcere_062921.pdfYesPRCentral Nervous SystemAlzheimer's DiseaseMonoclonals, SyntheticsHumanized Abs, Small MoleculeAsiaChinavaroglutamstat, PQ-912, PBD-C06Enzyme Inhibitor
glutaminyl-peptide cyclotransferase (QPCT) (glutaminyl cyclase) (QC), beta-amyloid (AB)
Inhibitor 565.00
double-digit royalties | Undisclosed upfront payment and development and sales milestones totaling $565M
05/2021Agenus1991-2001 IPOsBristol-Myers SquibbTop PharmaCo-Promotion, Development, License, OptionPreclinical 1,560.00 200.00 AGEN1777 bispecific anti-TIGIT antibody program and related products for immuno-oncology indicationsLink18636Agenus_BMS_0521.pdfYesYesSEC RedactedExclusiveCancerBroad Focus CancerMonoclonalsBispecificWorldwideAGEN-1777Immuno-OncologyTIGITInhibitor 1,560.00 1,560.00 12.82
low double-digit to mid-teen royalties, per Agenus' 6Q21 | $1.36B in agg milestones, per Agenus' 6Q21
05/2021Calithera Biosciences2013-21 IPOsAntengeneLicensePreclinical 255.00 3.00 CB-708 (ATG-037) CD73 inhibitor to treat cancerLink18890Calithera_Antengene_051721.pdfYesPRExclusiveCancerSyntheticsSmall MoleculeWorldwideCB-708, ATG-037Enzyme Inhibitorecto-5'-nucleotidase (NT5E) (NT) (CD73)Inhibitor 255.00 255.00 1.18
$3M, per Calithera's 6Q21 | Low double-digit royalties, per Calithera's 6Q21 | $252M in agg milestones, per Calithera's 6Q21
05/2021CapsigenBiogenMajor BiotechLicense, ResearchDiscovery, Orphan Indication 1,307.00 15.00 TRADE platform to develop AAV capsids to deliver targeted gene therapy treatments for CNS disordersLink18617Capsigen_Biogen_051021.pdfYesPRExclusiveCentral Nervous System, Other/Miscellaneous
Genetic Disorders, Other Central Nervous System
Drug Delivery, OligonucleotidesGene Therapy, Other 42.00 1,307.00 1.15
undisclosed royalties | $1.25 billion in development and commercial payments
05/2021ExscientiaBristol-Myers SquibbTop PharmaLicense, OptionDiscovery 1,200.00 50.00 AI-based platform to discover small molecule candidates for multiple therapeutic areasLink18658Exscientia_BMS_051921.pdfYesPRAutoimmune/Inflammatory, CancerBioinformatics, SyntheticsSmall Molecule 125.00 1,200.00 4.17 10.42
Undisclosed tiered royalties | $125M in near to mid-term potential milestones | Clinical, regulatory and commercial payments for potential value of the deal beyond $1.2 billion
05/2021G2 Bio CompaniesTemasekEquityOrphan Indication 200.00 $200M financing to launch G2 Bio Companies to develop UPenn Gene Therapy ProgramLink18637G2Bio_Temasek_051821.pdfYesPROther/MiscellaneousGenetic DisordersOligonucleotidesGene Therapy 200.00 200.00 100.00
UPenn and Dr. Wilson hold equity interests in the G2 Bio Companies, and will be entitled to receive licensing revenues
05/2021Ginkgo BioworksBiogenMajor BiotechLicense 120.00 5.00 Mammalian cell programming technology to improve AAV production platform to develop gene therapiesLink18655Ginkgo_Biogen_052121.pdfYesPROligonucleotidesGene Therapy 120.00 4.17 $115M in research, development, and commercial milestones
05/2021Innoviva2003-12 IPOsGlaxoSmithKlineTop PharmaEquity 392.00 Buyback of 32% equity stakeLink18662GSK_Innoviva_052021.pdfYesPR 392.00
05/2021Landos Biopharma2013-21 IPOsLianBioLicensePhase II, Phase I 218.00 18.00 Omilancor and NX-13 to treat ulcerative colitis and Crohn’s disease in Greater ChinaLink18721Landos_Lian_051721.pdfYesPRExclusiveGastrointestinal
IBD - Crohn's Disease, IBD - Ulcerative Colitis, Other Gastrointestinal
SyntheticsSmall MoleculeAsiaChina, Other Asianomilancor, BT-11, NX-13Anti-InflammatoryLanC like 2 (LANCL2), NF-kappa-B essentialAgonist, Modulator 218.00 8.26
Tiered low double-digit royalties | Up to $200M in development and commercial milestones
05/2021Milestone PharmaceuticalsJi Xing PharmaceuticalsEquity, License, SupplyPhase III, Formulation 127.50 15.00 Etripamil (nasal calcium channel blocker) for cardio supraventricular tachycardia in Greater ChinaLink18651Milestone_JiXing_0521.pdf 5.00 YesYesSEC RedactedExclusiveCardiovascularBroad Focus CardiovascularDrug Delivery, SyntheticsNasal, Small MoleculeAsiaChinaetripamil, MSP-2017calcium channelAntagonist 5.00 15.50 35.50 92.00 127.50 15.69 12.16 72.16
$92M, per Milestone's 6Q21 | $5M of pre-funded warrants, per Milestone's 6Q21 | low to high double-digit royalty, per Milestone's 6Q21 | $15.5M, per Milestone's 6Q21
05/2021MiNA TherapeuticsLillyTop PharmaLicense, ResearchDiscovery 1,250.00 25.00 Small activating RNA (saRNA) technology platform for up to 5 targetsLink18615MiNA_Lilly_051121.pdfYesPRExclusiveOligonucleotides 1,250.00 2.00
$245M in development and commercialization milestones/target | Tiered low-single to low-double digit royalties
05/2021Mirati TherapeuticsZai Laboratory2013-21 IPOsCo-Promotion, License, Option, SupplyPhase II 338.00 65.00 Adagrasib (MTRX849 small-molecule KRASG12C inhibitor) for lung cancer in Greater ChinaLink18708Mirati_Zai_0521.pdfYesYesSEC RedactedExclusiveCancerColorectal, LungSyntheticsSmall MoleculeAsiaChinaadagrasib, MRTX849ImmunomodulatorKRASG12CInhibitor 93.00 158.00 180.00 338.00 19.23 27.51 53.25
$180M, per Mirati's 6Q21 | High-teen to low twenties royalties, per Mirati's 6Q21 | $93M, per Mirati's 6Q21
05/2021Nanobiotix2013-21 IPOsLianBioLicensePhase III 240.00 NBTXR3 radioenhancer cancer treatment in Greater ChinaLink18722NANOBIOTIX_LianBio_051121.pdfYesPRExclusiveCancerBroad Focus CancerSyntheticsSmall MoleculeAsiaChina, Other AsianHensify, hafnium oxide, NBTXR3, NBTX 3, PEP-503Radiosensitiser 240.00
05/2021Pieris PharmaceuticalsRoche, GenentechMajor Biotech, Top PharmaLicense, Option, ResearchDiscovery 1,420.00 20.00 Anticalin platform to develop protein-based drugs for respiratory and ophthalmic indicationsLink18678Pieris_Genentech_052521.pdfYesPROphthalmic, Respiratory
Broad Focus Ophthalmic, Broad Focus Respiratory
Recombinant DNA 1,420.00 1.41
Tiered royalties | $1.4 billion in milestone payments across multiple programs
04/2021Alimera Sciences2003-12 IPOsOcumension TherapeuticsEquity, License 109.00 10.00 Iluvien for diabetic macular edema in Greater China, S Kore & ASEANLink18605Alimera_Ocumension_0421_Lic.pdf 10.00 YesYesSEC RedactedExclusiveOphthalmicOther OphthalmicAsiaChina, Other Asian, Southeast Asia
Iluvien, Medidur FA, fluocinolone acetonide intravitreal implant, DF-277, NSC-92339
Anti-Inflammatoryglucocorticoid receptor (GCCR)Agonist 10.00 20.00 89.00 109.00 18.35 81.65
04/2021Bristol-Myers SquibbTop PharmaAgios Pharmaceuticals2013-21 IPOsEquity 344.50 Repurchase of 7,121,658 shares of Agios common stockLink18749Agios_BMS_0321_Eq_Full.pdfYesYesSEC Full 344.50
04/2021CRISPR Therapeutics2013-21 IPOsVertexMajor BiotechCo-Development, License, RestatementPhase II 1,100.00 900.00 CTX001 for beta thalassemia & sickle cell diseasesLink18570CRISPR_Vertex_1015_Restated_0421.pdf 40.00 YesYesSEC RedactedExclusiveHematologicSickle Cell Disease, Other HematologicOligonucleotidesGene TherapyWorldwideCTX001Gene Therapy 200.00 1,100.00 1,100.00 81.82 18.18 40.00
high single-digit to mid-teen royalty if opt-out, per Crispr's 3Q31 | 40% PS to Crispr on CTX001, 50% on other Products, so long as no opt-out
04/2021CureVac2013-21 IPOsGlaxoSmithKlineTop PharmaCo-Development, License, SupplyDiscovery 180.00 90.00 Second-generation mRNA vaccine to address emerging COVID-19 variantsLink18073Curevac_GSK_0421_Covid.pdfYesYesSEC RedactedExclusiveInfectious-ViralCoronavirusVaccinesWorldwide 180.00 180.00 50.00
€75M ($US90M) | sub-teen to mid-teen royalties on Combination Products, per CureVac's 2020 20-F | €75M in aggregate milestones ($US90M), per CureVac's 2020 20-F | CON profit split on all but Combination Products, per CureVac's 2020 20-F
04/2021Lineage Cell Therapeutics1991-2001 IPOsImmunomic TherapeuticsLicense, ResearchOrphan Indication 69.00 2.00 VAC platform to develop allogeneic cell-based cancer immunotherapy vaccine candidateLink18528Lineage_Immunomic_042021.pdf 10.00 YesPRExclusiveCancerBrainCell Therapy - Stem Cells/Factors, VaccinesWorldwide 69.00 2.90 10.00 $67M in development and commercial milestones
04/2021LogicBio Therapeutics2013-21 IPOsCANbridge Life SciencesDevelopment, License, OptionOrphan Indication 601.00 10.00 AAV sL65 capsid to develop gene therapies for Fabry disease, Pompe disease and option to LB-001Link18552LogicBio_CANbridge_0421.pdfYesYesSEC RedactedExclusiveOther/MiscellaneousGenetic DisordersOligonucleotidesGene TherapyWorldwide 601.00 601.00 1.66
$542M in agg milestones for sL65 to treat Fabry & Pompe diseases, plus $49M in agg milestones for LB-001, per LogicBio's 6Q21 | mid- to high- single digit royalty for sL65, per LogicBio's 6Q21
04/2021Mirum Pharmaceuticals2013-21 IPOsCANbridge Life SciencesLicensePhase II, Orphan Indication 120.00 11.00 Maralixibat for rare liver diseases in ChinaLink18564Mirum_CANbridge_042921.pdfYesPRExclusive
Liver & Gallbladder Diseases, Other/Miscellaneous
Genetic Disorders, Other Liver & Gallbladder Diseases
SyntheticsSmall MoleculeAsiaChinamaralixibat, LUM001, SD-5613, SHP625Anti-Inflammatory
solute carrier family 10 sodium-dependent bile acid transporter member 2 (SLC10A2) (ASBT) (IBAT)
Inhibitor 120.00 9.17
double-digit tiered royalties | $109M in regulatory and commercial milestones
04/2021Obsidian TherapeuticsVertexMajor BiotechEquity, License, Option, ResearchDiscovery 1,375.00 75.00 cytoDRiVE platform to discover controllable gene editing therapies for undisclosed diseasesLink18538Obsidian_Vertex_042221.pdfYesPROligonucleotidesGene TherapyWorldwide 1,375.00 5.45
$75M in upfront payments and research milestones paid during the research term, including equity investment | $1.3 billion in research, development, regulatory, and commercial milestones across up to five programs.
04/2021OyaGenTonix PharmaceuticalsEquity, LicensePreclinical 170.00 TNX-3500 (sangivamycin) SARS-CoV-2 inhibitor and related compounds to treat COVID-19Link18531Tonix_Oyagen_0421_Lic.pdfYesYesSEC RedactedExclusiveInfectious-ViralCoronavirusWorldwidesangivamycin, TNX-35002019-nCoV (SARS-CoV-2) (COVID-19)Inhibitor 170.00 2.75M Tonix shares issued on signing, per Tonix's 3Q21
04/2021PfizerTop PharmaCelcuity2013-21 IPOsEquity, LicensePhase I 345.00 5.00 Gedatolisib (PI3K & mTOR inhibitor) for breast cancerLink19216Celcuity_Pfizer_0421_Lic.pdf 5.00 05/2021YesSEC RedactedExclusiveCancerBreastSyntheticsSmall MoleculeWorldwidegedatolisib, PF-05212384, PF-5212384, PKI-587Enzyme Inhibitor
mechanistic target of rapamycin (serine/threonine kinase) (mTOR) (FRAP) (FRAP1) (FRAP2) (RAFT1) (RAPT1), phosphoinositide 3-kinase (PI3K)
Inhibitor 5.00 345.00 345.00 2.90
Low to mid-teen royalties, per Celcuity's 6Q21 | $335M in agg milestones, per Celcuity's 6Q21
04/2021Senti BioRoche, Spark TherapeuticsTop Pharma, 2013-21 IPOsLicense, Option, ResearchOrphan Indication 645.00 Smart Sensors gene circuit technology to develop CNS, eye or liver-directed gene therapiesLink18511Senti_Spark_041321.pdfYesPRExclusiveOther/MiscellaneousGenetic DisordersOligonucleotidesGene Therapy 645.00 Upfront, opt-in and milestone payments exceeding $645M
03/2021Anima BiotechTakedaTop PharmaLicense, Option, ResearchDiscovery, Orphan Indication 1,220.00 120.00 Translation Control Therapeutics platform to discover mRNA translation modulators for CNS diseasesLink18392Anima_Takeda_031821.pdfYesPRExclusiveCentral Nervous System, Other/Miscellaneous
Broad Focus Central Nervous System, Genetic Disorders
SyntheticsSmall Molecule 1,220.00 9.84
$120M in upfront and preclinical research milestones | Undisclosed tiered royalties | $1.1 billion in clinical and commercial milestones for all three programs
03/2021ATAI Life Sciences, Perception Neuroscience2013-21 IPOsOtsuka PharmaceuticalTop Pharma, Japanese PharmaLicensePhase I 121.00 20.00 PCN-101 (arketamine) for depression in JapanLink18777Perception(ATAI)_Otsuka_0321.pdfYesSEC RedactedExclusivePsychiatricDepression & ManiaSyntheticsSeparationsAsiaJapanarketamine, PCN-101Antidepressants/AntipsychoticsNMDA receptorAntagonist 35.00 55.00 66.00 121.00 16.53 28.93 54.55
$66M, per ATAI's IPO prospectus | double-digit royalties, per ATAI's IPO prospectus | $35M, per ATAI's IPO prospectus
03/2021Biolojic DesignLillyTop PharmaEquity, License, ResearchDiscovery 121.00 AI-based multibody platform to discover antibody-based therapy to treat diabetesLink18355Biolojic_Lilly_030821.pdfYesPREndocrinological & MetabolicDiabetesBioinformatics, Monoclonals 121.00
Tiered royalties in the low- to mid-single digits | $121M in development and commercialization milestones and a promissory note that may be convertible into Biolojic equity at a future date
03/2021BridgeBio, QED Therapeutics2013-21 IPOsHelsinnCo-Development, Co-Promotion, LicenseFiled 2,000.00 Infigratinib for cancer indications in US and all indications ex-skeletal dysplasias ex-US and ChinaLink18467QED_Helsinn_033121.pdfYesPRExclusiveCancerSyntheticsSmall Moleculeinfigratinib, BGJ398Receptorfibroblast growth factor (FGF) receptor (FGFR)Inhibitor 2,000.00
Undisclosed tiered royalties | BridgeBio is eligible to receive more than $2 billion in upfront, regulatory and commercial milestones
03/2021Cidara Therapeutics2013-21 IPOsJohnson & Johnson, JanssenTop Pharma
Co-Promotion, Development, License, Option, Research
Preclinical, Discovery 780.00 27.00 CD388 Cloudbreak antiviral conjugate to prevent and treat influenzaLink18484Cidara_Janssen_0321.pdfYesYesSEC RedactedExclusiveInfectious-ViralInfluenzaMonoclonalsFragmentsWorldwide 58.00 780.00 780.00 3.46
$58M in sponsored R&D, per Cidara's 3Q21 | mid- to high- single digit royalty, per Cidara's 3Q21 | $695M in agg milestones, per Cidara's 3Q21
03/2021Eirion TherapeuticsShanghai Haohai Biological TechnologyEquity, License, SupplyPhase II, Preclinical 526.00 8.00 ET-01 and AI-09 for aesthetic indications; , ET-02 and ET-03 to treat hair loss in ChinaLink18334Eirion_Haohai_030921.pdfYesPRExclusiveDermatologicHair Disorders, Other DermatologicDrug Delivery, SyntheticsSmall Molecule, TopicalAsiaChina 31.00 43.00 444.00 526.00 7.41 8.17 84.41
$444M in sales milestones | $31M in Series A Preferred Stock investment | Royalty rates ranging from high single digits to the low twenties | $43M in development fees
03/2021Genevant SciencesTakedaTop PharmaLicenseDiscovery 600.00 LNP technology to develop nucleic acid therapeutics for liver fibrosisLink18379Genevant_Takeda_031521.pdfYesPRLiver & Gallbladder DiseasesOther Liver & Gallbladder DiseasesOligonucleotidesWorldwide 600.00 $600M in upfront and milestone payments
03/2021MerckTop PharmaBARDAResearch InstitutionSupply 268.80 Funding to expand manufacturing capacity for SARS-CoV-2/COVID-19 vaccines and medicinesLink18299Merck_BARDA_Janssesn_030221.pdfYesPRInfectious-ViralCoronavirusVaccines 268.80
03/2021Ovid Therapeutics2013-21 IPOsTakedaTop PharmaLicensePhase II, Orphan Indication 856.00 196.00 Soticlestat (TAK-935/OV935) to treat rare developmental and epileptic encephalopathiesLink18804Takeda_Ovid_030321.pdfYesPRExclusiveCentral Nervous System, Other/MiscellaneousEpilepsy, Other Central Nervous SystemSyntheticsSmall MoleculeWorldwidesoticlestat, TAK-935/OV935Enzyme Inhibitorcholesterol 24-hydroxylase, NMDA receptorInhibitor, Modulator 856.00 22.90
Tiered royalties ranging from low double-digits and up to 20% | $660M in development, regulatory and commercial milestones
03/2021ReViralLianBioLicensePhase II 119.00 14.00 Sisunatovir small molecule to treat RSV in ChinaLink18311ReViral_LianBio_030221.pdfYesPRInfectious-ViralRespiratory Syncytial Virus/RSVSyntheticsSmall MoleculeAsiaChinasisunatovir, RV-521AntiviralRSV F proteinInhibitor 119.00 11.76
Tiered low double-digit royalties | $105M in development and commercial milestones
03/2021Sanofi, BioverativTop PharmaGlobal Blood Therapeutics2013-21 IPOsLicenseOrphan Indication 355.25 2.25 Two early-stage small molecule research programs for sickle cell diseaseLink18415GlobalBlood_Sanofi_0321_Lic.pdfYesYesSEC RedactedExclusiveHematologicSickle Cell DiseaseSyntheticsSmall MoleculeWorldwide 355.25 355.25 0.63
Single-digit tiered royalties per 3/16/21 PR | $353M in agg milestones per 3/16/21 PR
02/2021Adagene2013-21 IPOsExelixis1991-2001 IPOsCo-Development, LicenseDiscovery 791.00 11.00 SAFEbody technology for masked antibody-drug conjugates to treat solid tumorsLink18056Adagene_Exelixis_0221.pdfYesYesSEC RedactedExclusiveCancerSolid TumorsMonoclonals, PeptidesConjugatesWorldwide 127.50 127.50 266.00 525.00 791.00 1.39 16.12 66.37
$262.5M per target, per Adagene's IPO prospectus | mid-single digit royalty, per Adagene's IPO prospectus | $27.5M in dev & $100M in reg milestones per target, per Adagene's IPO prospectus
02/2021Antibe TherapeuticsNuance BiotechLicensePhase II 100.00 20.00 Otenaproxesul for pain in Greater China regionLink18130Antibe_Nuance_020921.pdfYesPRExclusive
Autoimmune/Inflammatory, Central Nervous System
Osteoarthritis, PainSyntheticsSmall MoleculeAsiaChina 100.00 20.00 Double-digit royalty | $80M in development and sales milestones
Boston Immune Technologies and Therapeutics
BeiGene2013-21 IPOsEquity, License, OptionPreclinical 125.60 16.60 TNFR2 antagonist antibodies including BITR2101 for cancer in Asia ex-JapanLink18239BITT_BeiGene_021721.pdf 4.00 YesPRExclusiveCancerMonoclonalsAsia
Australia, China, India, New Zealand, Other Asian, Southeast Asia
BITR2101Immuno-Oncologytumor necrosis factor receptor 2 (TNFR2)Antagonist 4.00 125.60 16.40
$16.6M inclusive of BeiGene's exercise of the option to license following initial proof-of-concept studies | $4 million in BITT’s Series A preferred stock financing | Up to $105M in development, regulatory, and sales milestones
02/2021Caribou Biosciences2013-21 IPOsAbbVieTop PharmaEquity, License, Option, ResearchDiscovery 740.00 chRDNA genome editing and cell therapy technologies for allogeneic CAR-T cell therapiesLink18157Caribou_AbbVie_0221.pdf 10.00 YesYesSEC RedactedExclusiveCancerBroad Focus Cancer
Cell Therapy - Stem Cells/Factors, Oligonucleotides
Gene TherapyWorldwide 740.00
02/2021Cellectis2013-21 IPOsCytovia TherapeuticsEquity, License, ResearchDiscovery 775.00 Up to five TALEN gene-edited iPSC NK and CAR-NK cell therapeutics to treat cancerLink18214Cellectis_Cytovia_021621.pdf 15.00 YesPRCancerBroad Focus CancerCell Therapy - Stem Cells/FactorsWorldwide 15.00 775.00 1.94
$15M in Cytovia stock or an upfront cash payment of $15M if certain conditions are not met by 12/31/21 | single-digit royalty payments | $760M in development, regulatory, and sales milestones
02/2021Cend TherapeuticsQilu PharmaceuticalLicensePhase I 235.00 10.00 CEND-1 for pancreatic cancer and other solid tumors in Greater ChinaLink18243Cend_Qilu_021621.pdfYesPRExclusiveCancerPancreatic, Solid TumorsPeptidesAsiaChina 235.00 4.26 Tiered double digit royalties | $225M in undisclosed milestones
02/2021Dana-FarberResearch InstitutionDeerfield ManagementResearch 130.00 $130M over 10 years to fund translational research at Dana-FarberLink18119DanaFarber_Deerfield_020821.pdfYesPR 130.00 130.00 Up to $130M over 10 years
02/2021EnsomaTakedaTop PharmaEquity, License, ResearchDiscovery, Orphan Indication 1,360.00 100.00 Engenious vector technology platform for up to five rare genetic disease indicationsLink18172Ensoma_Takeda_021121.pdf 10.00 YesPRExclusiveOther/MiscellaneousGenetic DisordersOligonucleotidesGene TherapyWorldwide 10.00 1,360.00 8.09
$100 million in upfront and preclinical research payments | Equity investment of $10M in Ensoma’s Series A Preferred Stock | Up to low double-digit royalties | Up to $1.25 billion including development and commercialization milestone payments for all five programs
02/2021Gritstone Oncology2013-21 IPOsGileadMajor BiotechEquity, License, Option, Research 785.00 30.00 Prime-boost vaccine platform to develop HIV-specific therapeutic vaccineLink18051Gritstone_Gilead_020121.pdf 30.00 YesPRExclusiveInfectious-ViralHuman Immunodeficiency Virus/HIVVaccines 30.00 785.00 7.64
$725M in option, regulatory and commercial milestone payments | Mid single-digit to low double-digit tiered royalties
02/2021Junshi BiosciencesCoherus Biosciences2013-21 IPOsCo-Development, Equity, License, OptionPhase III, Preclinical 1,110.00 150.00 Toripalimab anti-PD-1 antibody in the US and Canada, option to JS006 and JS018-1Link18057Coherus_Junshi_0221_Full.pdf 20.00 YesYesSEC FullExclusiveCancerBroad Focus CancerMonoclonalsHumanized AbsNAFTACanada, UStoripalimab, JS001, JS 001, TAB-001, SO-001Immuno-Oncologyprogrammed cell death 1 (PD-1) (PDCD1) (CD279)Antagonist 0.31 90.00 240.00 480.00 630.00 1,110.00 13.51 8.11 56.76 20.00 20.00 20.00 20.00 15.00
$290M for PD-1 & $170M for each Option Product | 25% of global dev costs, up to $25M/yr cap | 20% for PD-1 and 18% for each Option Product | $90M for PD-1 indications | $35M option exercise plus $85M for each Option Product | Junshi purchased $50M of Coherus shares at FMV of $20.06/sh at signing
02/2021Molecular TemplatesBristol-Myers SquibbTop PharmaLicense, Option, ResearchDiscovery 1,394.50 70.00 Engineered toxin body platform to discover targeted therapeutics for cancerLink18171MolTemplates_BMS_0221.pdfYesYesSEC RedactedExclusiveCancerMonoclonalsConjugatesWorldwide 874.50 944.50 450.00 1,394.50 5.02 62.71 32.27
$450M, per Mol Templates' 2020 10-K | mid-single digit to mid-teen royalties, per Mol Templates' 2020 10-K | $874.5M per Mol Templates' 2020 10-K | MTEM pays R&D costs thru designation of dev candidate for Initial Target
02/2021Pacific Biosciences of California2003-12 IPOsSoftBankLoan 900.00 $900M investment through convertible senior notesLink18155PacificBio_Softbank_0221_Loan_Full.pdfYesYesSEC FullGenomicsGene Sequencing 900.00 900.00 900.00 1.5% convertible notes, due 2028
02/2021Provention BioHangzhou Zhongmei Huadong PharmaceuticalLicensePhase II, Orphan Indication 189.50 6.00 PRV-3279 DART molecule targeting B cell surface proteins CD32B and CD79B in Greater ChinaLink18240ProventionBio_Huadong_021721.pdfYesPRAutoimmune/InflammatorySystemic Lupus ErythematosusMonoclonalsBispecificAsiaChinaMGD010, PRV-3279, CD32BxCD79BAntibody
CD79b molecule immunoglobulin-associated beta (CD79B) (B29), Fc gamma receptor IIb (FCGR2B) (CD32B)
Modulator 11.50 189.50 3.17
Up to $11.5 million in research, development and manufacturing funding | Low-to-mid double digit royalties | Up to $172M in development, regulatory and commercial milestones
02/2021Ribon TherapeuticsOno PharmaceuticalLicensePhase I 148.30 16.30 RBN-2397 PARP7 inhibitor for cancer In Japan, South Korea, Taiwan and ASEAN countriesLink18083Ribon_Ono_020221.pdfYesPRExclusiveCancerSyntheticsSmall MoleculeAsiaJapan, Other Asian, Southeast AsiaRBN-2397Enzyme Inhibitorpoly (ADP-ribose) polymerase (PARP-7)Inhibitor 148.30 10.99
Tiered royalties ranging from the high single digits to low teens | $132M in regulatory and commercial milestones
02/2021Rigel Pharmaceuticals1991-2001 IPOsLillyTop Pharma
Co-Development, Co-Promotion, License, Option, Research
Phase I, Preclinical 960.00 125.00 R552 (RIPK1 inhibitors) for autoimmune, inflammatory & CNS diseasesLink18238Rigel_Lilly_0221.pdfYesYesSEC RedactedExclusive
Autoimmune/Inflammatory, Central Nervous System
Broad Focus Autoimmune/Inflammatory, Broad Focus Central Nervous System
SyntheticsSmall MoleculeWorldwideR552Enzyme Inhibitorreceptor (TNFRSF)-interacting serine-threonine kinase 1 (RIPK1)Inhibitor 330.00 255.00 710.00 250.00 960.00 13.02 34.38 26.04
$100M for each auto/inflam product, and $150M for each CNS product, per Rigel's 3Q21 | mid-single digit to high-teens royalty for R552, and low double-digit for CNS, per Rigel's 3Q21 | $330M for auto/inflam products, per Rigel's 3Q21 | $255M for CNS products, per Rigel's 3Q21
02/2021Scynexis2013-21 IPOsJiangsu Hansoh PharmaceuticalLicensePhase III 120.00 10.00 Ibrexafungerp broad-spectrum triterpenoid antifungal in Greater ChinaLink18236Scynexis_Hansoh_0221.pdfYesYesSEC RedactedExclusiveInfectious-MiscellaneousFungalSyntheticsSmall MoleculeAsiaChinaibrexafungerpAntifungalbeta-1,3-D glucan synthetaseInhibitor 120.00 120.00 8.33
low double digit royalty, per Scynexis' 3Q21 | $110M in agg milestones, per Scynexis' 3Q21
02/2021Vir Biotechnology2013-21 IPOsGlaxoSmithKlineTop Pharma
Co-Development, Equity, License, Option, Research
Phase I, Discovery 845.00 225.00 VIR-2482 for Influenza A & functional genomics to treat respiratory virusesLink18596Vir_GSK_0221.pdf 120.00 50.00 YesYesSEC RedactedExclusiveInfectious-Miscellaneous, Infectious-Viral
Coronavirus, Influenza, Respiratory Syncytial Virus/RSV, Other Infectious-Miscellaneous, Other Infectious-Viral
Genomics, ScreeningGene ExpressionWorldwideVIR-2482Antiviralundisclosed 120.00 500.00 845.00 845.00 40.83 59.17 50.00
50/50 dev cost sharing for all programs, except Vir pays for VIR-2482 thru Ph II | $300M on option exercise, plus $200M reg milestones for VIR-2482
01/2021AADiEOC PharmaLicenseOrphan Indication 271.00 ABI-009 (FYARRO) for cancer in Greater ChinaLink18669Aadi_EOC_011121.pdfYesPRExclusiveCancerSolid Tumors, Other CancerSyntheticsSmall MoleculeAsiaChinaFyarro, Tarzifyx, nab-sirolimus, ABI-009, nab-rapamycinImmunosuppresant
mechanistic target of rapamycin (serine/threonine kinase) (mTOR) (FRAP) (FRAP1) (FRAP2) (RAFT1) (RAPT1), T lymphocyte
Inhibitor 271.00
Tiered royalties | upfront payment, regulatory and sales milestone payments totaling up to $271M
01/2021AlteogenIntas PharmaceuticalsLicense, Supply 115.00 6.00 Development of two products combined with ALT-B4 Hybrozyme-enabled technologyLink17886Alteogen_Intas_010721.pdfYesPRRecombinant DNA 115.00 5.22
Tiered royalty ranging from mid-single digit to low double digit | $109M in development, regulatory and sales milestones
01/2021Argenx2013-21 IPOsZai Laboratory2013-21 IPOsCo-Development, Equity, License, SupplyPhase II 175.00 Efgartigimod antibody fragment for myasthenia gravis in Greater ChinaLink17894Argenx_Zai_0121_Lic.pdfYesYesSEC RedactedExclusiveAutoimmune/Inflammatory
Broad Focus Autoimmune/Inflammatory, Other Autoimmune/Inflammatory
MonoclonalsFragmentsAsiaChinaefgartigimod, ARGX-113Fc fragment of IgG, receptor, transporter, alpha (FCGRT) (FCRN)Antagonist 75.00 75.00 25.00 175.00 175.00 42.86 14.29
568.2K Zai shares @ $132/sh, per argenx' 2020 Form 20-F | $75M in dev cost reimb, per argenx' 2020 Form 20-F | Mid-teen to low twenties royalties, per argenx' 2020 Form 20-F | $25M on US approval, per argenx' 2020 Form 20-F
01/2021Artiva BiotherapeuticsMerckTop PharmaLicense, Option, ResearchDiscovery 1,288.00 30.00 Chimeric antigen receptor-NK cell therapies targeting solid tumor-associated antigensLink18027Artiva_Merck_0121.pdfYesYesSEC RedactedExclusiveCancerSolid TumorsCell Therapy - Stem Cells/FactorsWorldwide 28.00 0.00 265.00 700.00 1,288.00 2.33 0.00 54.35
$350M per program, per Artiva's IPO prospectus | $14M per program, per Artiva's IPO prospectus | high single-digit to low teen royalties, per Artiva's IPO prospectus | $265M for second program | 588
01/2021Asahi KaseiJapanese PharmaLillyTop PharmaLicensePhase I 410.00 20.00 AK1780 oral P2X7 receptor antagonist for chronic pain ex-Japan and ChinaLink18023AsahiKasei_Lilly_012821.pdfYesPRExclusiveCentral Nervous SystemPainSyntheticsSmall Molecule
Africa, Asia, Europe, Middle East, NAFTA, South America
All African Countries, All European Countries, All Middle East Countries, All NAFTA Countries, All South American Countries, Australia, India, New Zealand, Other Asian, Southeast Asia
210.00 230.00 180.00 410.00 4.88 51.22 43.90 tiered royalties ranging from the mid-single to low-double digits.
01/2021BeiGene2013-21 IPOsNovartisTop Pharma
Co-Development, Co-Promotion, License, Option
Phase III 2,200.00 650.00 Tislelizumab anti-PD-1 monoclonal antibody to treat cancer in NAFTA, Europe and JapanLink17953BeiGene_Novartis_0121.pdfYesYesSEC RedactedExclusiveCancerBroad Focus CancerMonoclonalsHumanized AbsAsia, Europe, NAFTA
All NAFTA Countries, Eastern Europe, European Union, Japan, Russia, Scandinavia, United Kingdom
tislelizumab, BGB-A317Immuno-Oncologyprogrammed cell death 1 (PD-1) (PDCD1) (CD279)Inhibitor 1,300.00 1,950.00 250.00 2,200.00 29.55 59.09 11.36 $250M, per BeiGene's 3Q21 | $1.3B, per BeiGene's 3Q21
01/2021BioNTech2013-21 IPOsPfizerTop Pharma
Co-Development, Distribution, Equity, License, Restatement
Approved 748.00 72.00 Comiranty BNT162 vaccine for COVID-19 ex-ChinaLink18569BioNTech_Pfizer_0320_Restated_0121.pdf 113.00 50.00 YesSEC RedactedExclusiveInfectious-ViralCoronavirusOligonucleotides, VaccinesRNAi
Africa, Asia, Europe, Middle East, NAFTA, South America
Comirnaty, Pfizer-BioNTech Covid-19 Vaccine, tozinameran, BNT162, PF-07302048, BNT162B2
VaccinemRNA2019-nCoV (SARS-CoV-2) (COVID-19) 113.00 748.00 748.00 24.73 50.00
$72M in 3/20 | $113M eq in 4/20 | $563M in agg milestones, per BioNTech's 2020 20-F
01/2021Blacksmith MedicinesLillyTop PharmaEquity, License, ResearchDiscovery 300.00 Small molecule inhibitors against up to 5 human metalloenzyme targetsLink17893Blacksmith_Lilly_010821.pdfYesPRSyntheticsSmall Molecule 300.00
Undisclosed upfront payment | Investment from Lilly in exchange for a convertible note | Up to $60M per target in research, development and commercial milestones, total potential deal size valued at $300M.
01/2021Dynavax Technologies2003-12 IPOs
Coalition for Epidemic Preparedness Innovations
Loan 99.00 CpG 1018 (TLR9 agonist) adjuvant manufacturing for use in COVID-19 vaccinesLink18053Dynavax_CEPI_0121_Loan.pdf05/2021YesYesSEC RedactedInfectious-ViralCoronavirusAdjuvantCpG 1018, ISS-1018, ISS 1018 CpG ODN, CpG ODNImmunostimulanttoll-like receptor 9 (TLR9) 99.00 99.00 99.00
01/2021EVOQ TherapeuticsAmgenMajor Biotech, Top PharmaLicense, ResearchDiscovery 240.00 Drug discovery for autoimmune disordersLink17930EVOQ_Amgen_011321.pdfYesPRAutoimmune/Inflammatory 240.00 Upfront and milestone payments potentially totaling more than $240M
01/2021First Wave BioAzurRx BioPharma2013-21 IPOsEquity, LicenseFormulation 87.30 10.25 Oral and enema formulations of niclosamide to treat ICI-AC and COVID-19 GI infectionsLink17868FirstWave_AzurRx_010421.pdfYesPRExclusiveGastrointestinalDrug Delivery, SyntheticsOral, Other, Small MoleculeWorldwideniclosamide, ANA-001, BAY 2353, NSC-178296, WR 46234, DWRX2003Antiviralsignal transducer and activator of transcription 3 (STAT3)Inhibitor 3.00 87.30 15.18
$10.25M in cash payable $9M at closing and $1.25M by June 30, 2021 | $3M Convertible Junior Preferred Stock | $74M in development and commercial milestones | mid single-digit royalties
01/2021Genevant SciencesGritstone Oncology2013-21 IPOsLicense 192.00 LNP technology to develop and commercialize self-amplifying RNA vaccines against SARS-CoV-2Link17989Genevant_Gritstone_012021.pdfYesPRInfectious-ViralCoronavirusVaccines 192.00
Royalties ranging from the mid-single to the mid-double digits | $192M in upfront and milestone payments per product
01/2021La Jolla Pharmaceutical, TetraPhase2013-21 IPOs, 1991-2001 IPOsPaionLicenseApproved 132.00 22.50 Giapreza (angiotensin II) for hypotension and Xerava (eravacycline) for infections in EuropeLink18465Tetraphase(LaJolla)_Paion_0121_Lic.pdfYesSEC RedactedExclusiveCardiovascular, Infectious-BacterialOther Cardiovascular, Other Infectious-BacterialSyntheticsEuropeAll European CountriesGiapreza, angiotensin II acetate, LJPC501Receptorangiotensin II type 1 receptor (AGTR1)Agonist 22.50 109.50 132.00 17.05 82.95
$24.5M for Xerava and $85M for Giapreza | double-digit royalties, per La Jolla's 2020 10-K
01/2021Merus BV2013-21 IPOsLilly, Loxo OncologyTop Pharma, 2013-21 IPOsEquity, License, ResearchDiscovery 600.00 40.00 Biclonics platform for up to three CD3-engaging T-cell re-directing bispecific antibody therapiesLink17972Merus_Lilly_0121.pdf 20.00 YesYesSEC RedactedExclusiveCancerMonoclonalsBispecificWorldwide 20.00 290.00 350.00 250.00 600.00 10.00 48.33 41.67
$250M in sales milestones per program, per Merus' 2020 10-K | 707K shares @ $28.295/sh, per Merus' 2020 10-K | mid-single to low-double digit royalty, per Merus' 2020 10-K | $290M for each program, per Merus' 2020 10-K
01/2021MiNA TherapeuticsServierMid Tier PharmaLicense, ResearchDiscovery 267.00 Small activating RNA therapies to treat neurological disordersLink17985MinA_Servier_012121.pdfYesPRCentral Nervous SystemOligonucleotidesRNAi 267.00
€220 M (US$267M) in upfront, development and commercial milestonesfor first target
01/2021NevakarLaboratoires TheaDistribution, LicensePhase III 135.00 NVK-002 (atropine) to treat progression of myopia in children in EuropeLink18020Nevakar_Thea_012821.pdfYesPRExclusiveOphthalmicOther OphthalmicSyntheticsSmall MoleculeAfrica, EuropeAll European Countries, Other African 135.00
01/2021Paratek PharmaceuticalsR-Bridge HealthcareLoan 60.00 Loan to be repaid using royalties from Zai collaboration to pay off Hercules Capital secured debtLink17878Paratek_RBridge_010421.pdfYesPR 60.00 60.00
01/2021TRIGR TherapeuticsElpiscience BioPharmaLicensePhase I 117.00 7.00 TR009 dual angiogenic bispecific antibody targeting DLL4/VEGF for oncology indications in ChinaLink17987TRIGR_Elpiscience_012021.pdfYesPRExclusiveCancerBroad Focus CancerMonoclonalsAsiaChina 117.00 5.98 $110M in development and commercial milestones
01/2021Turning Point Therapeutics2013-21 IPOsZai Laboratory2013-21 IPOsLicense, SupplyPhase I 361.00 25.00 TPX-0022 )MET/SRC/CSF1R Inhibitor) for solid tumors in Greater ChinaLink18408TurningPoint_Zai_0121_Lic.pdf03/2021YesYesSEC RedactedExclusiveCancerSolid TumorsSyntheticsSmall MoleculeAsiaChina 121.00 146.00 215.00 361.00 6.93 33.52 59.56
$215M, per Turning Point's 2020 10-K | mid-teen to low twenties royalties, per Turning Point's 2020 10-K | $121M, per Turning Point's 2020 10-K
12/2020Aligos Therapeutics2013-21 IPOsMerckTop PharmaLicense, ResearchDiscovery 458.00 Oligonucleotides directed against NASH target, second target in cardiometabolic/fibrosisLink17768Aligos_Merck_120720.pdfYesPRExclusiveCardiovascular, Liver & Gallbladder DiseasesFatty LiverOligonucleotides 458.00
tiered royalties | $458M in development and commercialization milestones
12/2020Allecra Therapeutics
Yangtze River Pharmaceutical, Shanghai Haini Pharmaceutical
LicensePhase III 78.00 Cefepime/enmetazobactam antibiotic in Greater ChinaLink17812Allecra_ShanghaiHaini_122120.pdfYesPRExclusiveInfectious-BacterialPneumonia, Urinary Tract InfectionsSyntheticsSmall MoleculeAsiaChina 78.00
12/2020Allogene Therapeutics2013-21 IPOsOverland PharmaceuticalsEquity, Joint Venture, LicenseLead Molecule 80.00 40.00 CAR-T cell candidates to BCMA, CD70, FLT3, and DLL3 targets in China, S Korea & SingaporeLink18302Allogene_Overland_1220_Lic.pdf 49.00 YesSEC RedactedExclusiveCancerBroad Focus CancerCell Therapy - Stem Cells/FactorsAsiaChina, Other Asian 40.00 80.00 80.00 50.00 50.00 49.00
$40M upfront from JV, per Allogene's 2020 10-K | Overland purchase 51% of JV for $117M, per Allogene's 2020 10-K | low to mid-single digit royalties, per Allogene's 2020 10-K | $40M in reg milestones from JV, per Allogene's 2020 10-K | 49% of JV owned by Allogene, per Allogene's 2020 10-K
12/2020Atara Biotherapeutics2013-21 IPOsBayerTop PharmaCo-Development, LicensePhase I, Preclinical 675.00 60.00 ATA3271 and ATA2271 Mesothelin-directed CAR T-cell therapies to treat solid tumorsLink17726Atara_Bayer_1220.pdfYesYesSEC RedactedExclusiveCancerSolid TumorsCell Therapy - Stem Cells/FactorsWorldwide 5.00 675.00 675.00 8.89
up to low double digit royalties, per Atara's 2020 10-K | $610M in agg milestones, per Atara's 2020 10-K
12/2020Chordia TherapeuticsOno PharmaceuticalLicensePreclinical, Orphan Indication 482.00 7.00 CTX-177 MALT1 inhibitor and related compoundsLink19128Chordia_Ono_121520.pdfYesPRExclusiveCancerLymphomaSyntheticsSmall MoleculeWorldwideCTX-177
mucosa associated lymphoid tissue lymphoma translocation gene 1 (MALT1)
Inhibitor 482.00 1.45
JPY0.8 billion (US$7M) | High-single digits to low double-digit tiered royalties | JPY2.5 billion (US$23M) upon Phase I initiation | JPY49.6 billion (US$452M) in additional development and commercial milestones