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1 | Deal Date | Seller | Buyer | Most Advanced Stage | Deal Link | Deal Source | Deal Subject | Deal Size ($M) | Upfront Cash ($M) | Upfront Equity ($M) | Upfront Share of Total | Has Tags | Dev/Reg Milestones ($M) | Dev/Reg Milestones Tag | Add'l Milestones ($M) | Add'l Milestones Tag | Sales Milestones ($M) | Sales Milestones Tag | Maximum Royalty (%) | Diligence Tag | CVR Payout Term (yrs) | CVR Payout Term Tag | Seller Category | Buyer Category | Disease | Technology | Financial Term Explanations |
2 | 1/2020 | Clearsight, SCI Solutions | R1 RCM | Other | Link | SEC Full | Acquisition for cash | 200.00 | 190.00 | 95% | 10.00 | ||||||||||||||||
3 | 12/2019 | Aevi Genomic Medicine | Cerecor | Phase I | Link | SEC Full | Acquisition in $16.1M all-stock transaction plus CVRs valued at $6.5M | 22.60 | 16.10 | 71% | Yes | 6.50 | Tag | 5.0 | Tag | 2013-19 IPOs | Autoimmune/Inflammatory, Cancer, Gastrointestinal, Other/Miscellaneous | Monoclonals | |||||||||
4 | 12/2019 | NanoString Technologies | Veracyte | Diagnostic | Link | SEC Redacted | FLEX System assays for breast cancer and lymphoma | 60.00 | 40.00 | 10.00 | 83% | 10.00 | 2013-19 IPOs | 2013-19 IPOs | Cancer | Diagnostics | 377K VeraCyte shares , per VeraCyte's 12/3/19 8-K | launch of three add'l diag products, per VeraCyte's 12/3/19 8-K | royalty-free | ||||||||||
5 | 11/2019 | Menlo Therapeutics | Foamix | Approved | Link | SEC Full | Merger agreement in stock-for-stock exchange | 165.00 | 55.00 | 33% | Yes | 110.00 | Tag | Tag | 0.5 | Tag | 2013-19 IPOs | 2013-19 IPOs | Dermatologic | Drug Delivery, Synthetics | Under the terms of the merger agreement, each share of Foamix stock will be exchanged for 0.5924 of a share
of Menlo common stock and a contingent stock right (“CSR”). The exchange ratio (prior to any adjustment through the CSR) implies a 18% premium to Menlo shareholders | If one of the Phase III PN trials fails to meet its primary endpoint at or before May 31, 2020, Foamix shareholders will receive an additional 0.6815 of a share of Menlo common stock for each Foamix share, increasing pro forma ownership of the combined company by Foamix shareholders to 76% If both Phase III PN trials fail to meet their primary endpoints at or before May 31, 2020, Foamix shareholders will receive 1.2082 additional Menlo shares for each Foamix share | ||||||
6 | 10/2019 | Achillion Pharmaceuticals | Alexion | Phase II | Link | SEC Full | Acquisition for $6.30/sh in cash plus CVR | 1,225.00 | 930.00 | 76% | Yes | 295.00 | Tag | Tag | 4.5 | Tag | Major Biotech | Hematologic | Synthetics | $6.30/sh in cash | $2/share CVR | |||||||
7 | 10/2019 | Aclaris Therapeutics | EPI Health | Approved | Link | SEC Redacted | Rhofade (oxymetazoline hydrochloride) cream for rosacea | 55.00 | 35.00 | 64% | 20.00 | 2013-19 IPOs | Dermatologic | ||||||||||||||
8 | 10/2019 | Cerecor | Aytu BioScience | Approved | Link | SEC Full | Pediatric products for cash and shares | 32.00 | 4.50 | 12.50 | 53% | 15.00 | 2013-19 IPOs | $12.5M in Aytu preferred | Aytu assumed Cerecor's 15% royalty obligation to Deerfield, per Cerecor's 9Q19 | Aytu assumed Cerecor's $15M loan obligation to Deerfield, per Cerecor's 9Q19 | |||||||||||||
9 | 10/2019 | Progenics Pharmaceuticals | Lantheus Medical Imaging | Approved | Link | SEC Full | Acquisition in all-stock transaction | Yes | Tag | Tag | 4.0 | Tag | Cancer | Synthetics | per 2/20 restatement, 40% of sales above $100-150M threshold in 2022-23 | 0.25shares/Progenics share (21.5% premium) for 35% of combined co; per 2/20 restated, increased to 0.31 shares/Prgenics share and 40% of combined ownership plus CVR | ||||||||||||
10 | 9/2019 | Alder Biopharmaceuticals | Lundbeck A/S | Filed | Link | SEC Full | Acquisition for $18/sh in cash plus CVR | 1,950.00 | 1,755.00 | 90% | Yes | 195.00 | Tag | Tag | 5.2 | Tag | 2013-19 IPOs | Mid Tier Pharma | Central Nervous System | Monoclonals | CVR for additional $2/sh upon EMA approval of eptinezumab | $18/sh | ||||||
11 | 9/2019 | Dova Pharmaceuticals | Swedish Orphan Biovitrum | Approved | Link | SEC Full | Acquisition for $27.50/sh in cash plus CVR | 915.00 | 870.00 | 95% | Yes | 45.00 | Tag | Tag | 3.2 | Tag | 2013-19 IPOs | Hematologic | Synthetics | $27.50/sh (36% premium) | CVR of $1.50 per share, to be paid upon the regulatory approval of Doptelet (avatrombopag) for the treatment of CIT. | |||||||
12 | 8/2019 | Modis Therapeutics | Zogenix | Phase II | Link | SEC Redacted | Acquisition for cash and shares | 400.00 | 175.00 | 75.00 | 63% | Yes | 150.00 | Tag | 5.00 | Tag | 15.0 | Tag | Other/Miscellaneous | $100M upon FDA approval, additional $50M upon EMA approval | |||||||
13 | 8/2019 | New Aera | Inogen | Device | Link | SEC Full | Acquisition for cash | 101.80 | 70.40 | 69% | Yes | 27.40 | Tag | Respiratory | Device | 18.75% of sales above $2M/yr, up to $27.38M cap | |||||||||||
14 | 8/2019 | PointR Data | Mateon Therapeutics | Discovery | Link | SEC Full | Acquisition for equity | Cancer | PointR receives 23.3% of combined shares | $15M in add'l equity for dev milestones | ||||||||||||||||||
15 | 8/2019 | SentreHeart | AtriCure | Device | Link | SEC Full | Developer of percutaneous left atrial appendage management solutions | 300.00 | 40.00 | 13% | Yes | 260.00 | Tag | Tag | 7.3 | Tag | Cardiovascular | Device | |||||||||
16 | 7/2019 | Gemphire Therapeutics | NeuroBo Pharmaceuticals | Phase III | Link | SEC Full | Merger in all-stock transaction to advance neurodegenerative disease company | Yes | Tag | 15.0 | Tag | 2013-19 IPOs | Central Nervous System | 80% of Consideration from a Gemcabene Deal | Gemphire owns 3.7% of combined entity | |||||||||||||
17 | 7/2019 | Spitfire Pharma | Altimmune | Preclinical | Link | SEC Full | Acquisition for $5M in shares plus additional milestone payments | 93.00 | 5.00 | 5% | Yes | 8.00 | Tag | 80.00 | Tag | Tag | Liver & Gallbladder Diseases | Peptides | $5M in Altimmune common stock | $8M in future regulatory and clinical milestones payable in cash or common stock | ||||||||
18 | 6/2019 | Dose Medical | Glaukos | Formulation | Link | SEC Full | Acquisition for cash | 56.25 | 2.50 | 4% | Yes | 17.50 | Tag | 8.75 | 27.50 | Tag | 5.00 | 10.0 | Tag | Ophthalmic | Drug Delivery | 5% royalty, but potential buyouts at $30-40M for Protein product or $10-15M for Steroid product | |||||
19 | 6/2019 | Exonics Therapeutics | Vertex | Preclinical | Link | SEC Redacted | Acquisition for $245M in cash plus milestones | 1,047.00 | 319.30 | 30% | Yes | Tag | Tag | Major Biotech | Other/Miscellaneous | Oligonucleotides | $802M in agg milestones, per Vertex's 6Q19 | ||||||||||
20 | 5/2019 | Peloton Therapeutics | Merck | Phase II | Link | PR | Acquisition for $1.05 billion in cash plus milestones | 2,200.00 | 1,050.00 | 48% | Top Pharma | Cancer | Synthetics | $1.15 billion in regulatory and sales milestones | |||||||||||||
21 | 5/2019 | Vertiflex | Boston Scientific | Device | Link | PR | Acquisition for cash | 565.00 | 465.00 | 82% | 100.00 | Central Nervous System | Device | Additional payments contingent on commercial milestones for the next three years | $100M per Boston Sci's 9Q19 | |||||||||||||
22 | 4/2019 | Aratana Therapeutics | Elanco | Other | Link | SEC Full | Acquisition for shares plus CVR | 245.00 | 232.75 | 95% | Yes | 12.25 | Tag | Tag | 2.6 | Tag | 2013-19 IPOs | 2013-19 IPOs | Other/Miscellaneous | $0.25/CVR in sales milestone | Elanco shares worth $4.75/Aratana sh | |||||||
23 | 4/2019 | Debiopharm, GenePOC | Meridian Bioscience | Diagnostic | Link | SEC Redacted | Acquisition of GenePOC's molecular diagnostics business | 120.00 | 50.00 | 42% | 20.00 | 50.00 | Diagnostics | $50M upfront, per Meridian's 3Q19 | $50M, per Meridian's 3Q19 | $20M in dev/reg milestones, per Meridian's 3Q19 | |||||||||||||
24 | 4/2019 | Oncotelic | Mateon Therapeutics | Phase II | Link | SEC Full | Reverse merger agreement | 3.70 | 3.70 | Cancer | Oligonucleotides | 75% of proceed from sale or license of OXi4503 and CA4P within 4 yrs (see CVR agmt) | |||||||||||||||
25 | 3/2019 | Bellwether Bio | Guardant Health | Diagnostic | Link | PR | Acquisition for cash | 20.30 | 10.30 | 51% | 10.00 | 2013-19 IPOs | Cancer | Diagnostics | $10.3M per Guardant's 6Q19 | $10M per Guardant's 6Q19 | ||||||||||||
26 | 3/2019 | GTx | Oncternal Therapeutics | Phase I | Link | SEC Full | Acquisition for shares | 29.00 | 29.00 | 10.00 | Cancer | Monoclonals, Synthetics | $29M in FMV of shares, per Octernal's 6Q19 | 50% of Gross Consideration in SARM or SARD Deal | 5-10% royalty | ||||||||||||||
27 | 3/2019 | MyoScience | Pacira Pharmaceuticals | Device | Link | SEC Redacted | Acquisition for cash | 220.00 | 120.00 | 55% | Yes | Tag | 4.8 | Tag | Central Nervous System | Device | $100M in agg milestones per Pacira's 2019 10-K | ||||||||||
28 | 2/2019 | Clementia Pharmaceuticals | Ipsen | Phase III | Link | SEC Full | Acquisition for $25/sh in cash plus CVR ($6/sh) | 1,267.00 | 1,004.00 | 79% | Yes | 263.00 | Tag | Tag | Tag | 6.0 | Tag | 2013-19 IPOs | Mid Tier Pharma | Bone Disease | Synthetics | $25/sh | $6/CVR if FDA filing by 12/31/24 | |||||
29 | 2/2019 | FHF Holdings | Tilray | Other | Link | SEC Full | Acquisition for cash and shares | 319.00 | 282.00 | 88% | Yes | 37.00 | Tag | Tag | 1.0 | Tag | 2013-19 IPOs | Cdn$370M | Cdn$49M as milestone for meeting sales goal for 2019 | |||||||||
30 | 2/2019 | Natura Naturals Holdings | Tilray | Other | Link | SEC Full | Acquisition for cash and shares | 53.40 | 26.70 | 50% | 26.70 | 2013-19 IPOs | Natural Product | $26.7M (Cdn$35M) | $26.7M (Cdn$35M) in milestones for cultivation yield | Cdn$70M | |||||||||||||
31 | 1/2019 | Celgene | Bristol-Myers Squibb | Approved | Link | SEC Full | Acquisition for cash and equity plus CVR | 96,300.00 | 74,000.00 | 16,000.00 | 93% | Yes | 6,300.00 | Tag | Tag | 2.2 | Tag | Major Biotech | Top Pharma | Autoimmune/Inflammatory, Cancer, Cardiovascular | $9.00 in cash upon FDA approval of
all three of ozanimod (by December 31, 2020), liso-cel (JCAR017) (by December 31,2020) and bb2121 (by March 31, 2021) | $50 cash & 1 BMS sh per Celgene share ($102.43/sh equiv) | ||||||
32 | 1/2019 | Fortress Biotech, Caelum Biosciences | Alexion | Phase I | Link | SEC Redacted | Option to acquire Caelum based on Phase II data | 560.00 | 30.00 | 5% | Yes | 30.00 | Tag | 250.00 | Tag | 250.00 | Tag | Tag | Major Biotech | Hematologic | Monoclonals | $30M for 19.9% eq of Caelum, per Fortress' 3Q19 | $150-200M acquisition price, depending on accelerated approval prior to acq, plus $50-75M on FDA approval | |||||
33 | 1/2019 | Helio Vision | Aldeyra Therapeutics | Phase II | Link | SEC Full | Acquisition for shares | 25.00 | 10.00 | 40% | 15.00 | 2013-19 IPOs | Ophthalmic | Synthetics | |||||||||||||
34 | 1/2019 | Medisource Partners | Generex Biotechnology | Device | Link | SEC Full | Acquisition for shares | 1.50 | 1.00 | 67% | 0.50 | ||||||||||||||||
35 | 1/2019 | Pantheon Medical | Generex Biotechnology | Device | Link | SEC Full | Acquisition for shares | 2.10 | 1.40 | 67% | 0.70 | Bone Disease | Device | ||||||||||||||
36 | 1/2019 | Spectrum Pharmaceuticals | Aurobindo Pharma, Acrotech Biopharma | Approved | Link | SEC Full | Acquisition of portfolio of seven FDA-approved hematology/oncology products | 300.00 | 160.00 | 53% | Yes | 40.00 | Tag | 100.00 | Tag | 5.0 | Tag | Cancer | Synthetics | ||||||||
37 | 12/2018 | OncoMed Pharmaceuticals | Mereo BioPharma | Phase I | Link | SEC Full | Reverse merger for shares | 137.40 | 57.40 | 42% | Yes | 80.00 | Tag | Tag | 5.0 | Tag | 2013-19 IPOs | Cancer | $57.4M of Mereo ADRs | 70% of Celgene milestones & 50% of DLL4 or VEGF milestones, up to $80M cap | ||||||||
38 | 12/2018 | Perosphere Pharmaceuticals | AMAG Pharmaceuticals | Phase II | Link | SEC Full | Acquisition for cash | 415.00 | 50.00 | 12% | Yes | 140.00 | Tag | 225.00 | Tag | Tag | 6.0 | Tag | Hematologic | Synthetics | AMAG is assuming $18.2M in debt and liabilities ($12M under a term loan and up to $6.2M of Perosphere’s other liabilities) | $140M including $40M upon EMA approval; total amount to be reduced if ciraparantag is approved with a boxed warning | ||||||
39 | 12/2018 | Vascular Insights | Merit Medical | Device | Link | SEC Full | ClariVein catheter infusion systems | 60.00 | 40.00 | 67% | 20.00 | Tag | Cardiovascular | Device | |||||||||||||
40 | 11/2018 | Boyce & Bynum Pathology Laboratories | Quest Diagnostics | Diagnostic | Link | PR | Acquisition of clinical laboratory services business | 61.00 | 55.00 | 90% | 6.00 | Service Laboratory | $55M per Quest's 2019 10-K | $6M per Quest's 2019 10-K | ||||||||||||||
41 | 11/2018 | Cianna Medical | Merit Medical | Device | Link | SEC Full | Acquisition for cash | 200.00 | 135.00 | 68% | Yes | 15.00 | Tag | 50.00 | Device | ||||||||||||
42 | 11/2018 | Enlivex Therapeutics | Bioblast Pharma | Phase II | Link | SEC Full | Reverse merger agreement | 100.00 | 100.00 | Yes | Tag | Tag | 1.0 | Tag | Cancer, Infectious-Bacterial, Transplantation | Cell Therapy - Stem Cells/Factors | 4% OS to Bioblast shareholders, with $100M minimum valuation | first $20M of Trehalose transaction, then 50/50 above | ||||||||||
43 | 11/2018 | Fortress Biotech, Avenue Therapeutics | Cipla, InvaGen Pharmaceuticals | Phase III | Link | SEC Full | Acquisition for cash of IV Tramadol for pain | 215.00 | 35.00 | 16% | Yes | 180.00 | Tag | 2013-19 IPOs | Central Nervous System | Drug Delivery, Synthetics | for 33.3% of OS | purchase of remaining 66.7% contingent on FDA approval | 10-20% of Gross Profits on annual sales above $325M (see CVR agmt) | ||||||||||
44 | 11/2018 | Regentys | Generex Biotechnology | Device | Link | SEC Full | Acquisition of 51% stake | 15.00 | 0.40 | 3% | 14.60 | Gastrointestinal | |||||||||||||||
45 | 10/2018 | Corium International | Gurnet Point | Approved | Link | SEC Full | Acquisition for $12.50/sh in cash plus $.50 in CVR | 504.00 | 485.00 | 96% | Yes | 19.00 | Tag | Tag | 2013-19 IPOs | Central Nervous System, Other/Miscellaneous | Drug Delivery | $19M on FDA approval of Corplex Donepezil for Alzheimer's by 3/31/20 | |||||||||
46 | 8/2018 | Adapt Pharma | Emergent BioSolutions | Approved | Link | SEC Redacted | Acquisition of neddle-free naloxone for cash and shares | 723.00 | 575.00 | 48.00 | 86% | Yes | 100.00 | Tag | Tag | 4.3 | Tag | Central Nervous System, Psychiatric | Drug Delivery, Synthetics | $575M cash, per Emergent's 9Q18 | 733.3K shares @ $65.28/sh, per Emergent's 9Q18 | |||||||
47 | 8/2018 | Gilead, YM Biosciences | Sierra Oncology | Phase III | Link | SEC Redacted | Momelotinib JAK 1/2 and ACVR1 inhibitor for myelofibrosis | 198.00 | 3.00 | Major Biotech | 2013-19 IPOs | Cancer | Synthetics | Tiered royalties from mid-teens to high-twenties, per Sierra's 9Q18 | $195M in agg milestones, per Sierra's 9Q18 | |||||||||||||
48 | 7/2018 | Agilis Biotherapeutics | PTC Therapeutics | Phase II | Link | SEC Redacted | Acquisition for cash and shares | 945.00 | 50.00 | 150.00 | 21% | 595.00 | 150.00 | 6.00 | 2013-19 IPOs | Central Nervous System, Other/Miscellaneous | Oligonucleotides | $49.2M per PTC's 2018 10-K | $150M per PTC's 2018 10-K | 3.5M share w $150M FMV, per PTC's 2018 10-K | 2-6% royalty, per PTC's 2018 10-K | $595M per PTC's 2018 10-K | |||||||||
49 | 7/2018 | Apricus Biosciences | Seelos Therapeutics | Phase II | Link | SEC Full | Acquisition for shares plus CVR | 13.00 | 13.00 | 90% of Vitaros payments above $500K for 10 yrs (see CVR agmt) | |||||||||||||||||
50 | 7/2018 | GlaxoSmithKline | Roivant Sciences, Dermavant Sciences | Phase II | Link | SEC Redacted | Tapinarof and preclinical back up program for atopic dermatitis and psoriasis ex-China | 461.00 | 191.00 | 41% | Yes | 133.00 | Tag | 61.00 | 76.00 | Top Pharma | Dermatologic | Drug Delivery, Synthetics | £150 million ($191M) per Dermavant's IPO prospectus | $76M, per Dermavant's IPO prospectus | royalty-free | £100 million ($133M ) upon approval, per Dermavant's IPO prospectus | $61M in add'l dev/reg milestones, per Dermavant's IPO prospectus | ||||||||
51 | 7/2018 | MabVax Therapeutics | Boehringer Ingelheim | Preclinical | Link | SEC Redacted | Glycan fully human antibody program for solid tumors | 11.00 | 4.00 | 36% | 7.00 | Mid Tier Pharma | Cancer | Monoclonals | $7M in dev/reg milestones, per MabVax's 2018 S-1 | ||||||||||||
52 | 5/2018 | Myonexus Therapeutics | Sarepta Therapeutics | Preclinical | Link | SEC Redacted | Limb-Girdle Muscular Dystrophy gene therapy programs and option to acquire Myonexus | 425.00 | 60.00 | 14% | 165.00 | Other/Miscellaneous | Oligonucleotides | $60M for initial option to acquire, per Sarepta's 6Q18 | $165M in acq exercise payments, per Sarepta's 3Q19 | $200M in agg post-acquisition milestones, per Sarepta's 3Q19 | |||||||||||||
53 | 4/2018 | SteadyMed | United Therapeutics | Device | Link | SEC Full | Acquisition for $4.46/sh in cash plus CVR for $2.63/sh | 216.00 | 141.00 | 65% | Yes | 75.00 | Tag | Tag | 5.0 | Tag | 2013-19 IPOs | Cardiovascular | Device, Synthetics | $4.46/share in cash at closing | $75M ($2.63/sh) within 5 yrs of closing if 3000 Initial Patient Visits after FDA approval of Product to treat pulmonary arterial hypertension | |||||||
54 | 3/2018 | Icon Bioscience | EyePoint Pharmaceuticals | Approved | Link | SEC Full | Acquisition for cash and rebranded as EyePoint Pharmaceuticals | 125.00 | 15.00 | 12% | Yes | 15.00 | Tag | 95.00 | Tag | 16.00 | Tag | Ophthalmic | Drug Delivery | ||||||||
55 | 2/2018 | AstraZeneca, MedImmune | Viela Bio | Phase II | Link | SEC Redacted | Spinout of six compounds including inebilizumab for severe autoimmune diseases | 261.30 | 142.30 | 54% | Top Pharma | Autoimmune/Inflammatory | Monoclonals | $119M in agg milestones, per Viela's IPO prospectus | |||||||||||||
56 | 1/2018 | Impact Biomedicines | Celgene | Phase III | Link | PR | Acquisition for cash | 7,000.00 | 1,100.00 | 16% | 1,400.00 | 4,500.00 | Major Biotech | Cancer | Synthetics | Maximum of $4.5 billion if global annual net sales exceed $5 billion. | Maximum of $1.4 billion in regulatory milestones for myelofibrosis and other indications. | |||||||||||
57 | 1/2018 | STAT-Dx | Qiagen | Diagnostic | Link | PR | Acquisition for cash | 191.00 | 147.00 | 77% | Diagnostics | $44M in regulatory and commercial milestones | |||||||||||||||
58 | |||||||||||||||||||||||||||
59 | 2018-20 Payout Term Average | 5.4 | |||||||||||||||||||||||||
60 | 2018-20 Payout Term Median | 5.0 | |||||||||||||||||||||||||
61 | |||||||||||||||||||||||||||
62 | 12/2017 | Cell Design Labs | Gilead, Kite Pharma | Preclinical | Link | PR | Acquisition for cash | 472.00 | 150.00 | 32% | 322.00 | Major Biotech, 2013-19 IPOs | Cancer | Cell Therapy - Stem Cells/Factors | $150M, net of CDI's cash, per Gilead's 2017 10-K | $322M, per Gilead's 2017 10-K | ||||||||||||
63 | 12/2017 | Censa Pharmaceuticals | Retrophin | Phase I | Link | PR | Option to acquire Censa for CNSA-001 to treat phenylketonuria | 122.00 | 10.00 | 8% | 5.00 | 2013-19 IPOs | Endocrinological & Metabolic, Other/Miscellaneous | $10M for option, per Retrophin's 3Q18 | $17M funding, per Retrophin's 3Q18 | $5M dev milestone, per Retrophin's 3Q18 | $65M on exercise of acq option (80% in shares), plus $25M in agg post-exercise milestones, per Retrophin's 3Q18 | |||||||||||||
64 | 11/2017 | Ocera Therapeutics | Mallinckrodt | Phase II | Link | SEC Full | Acquisition for $1.52/sh in cash plus CVR | 117.00 | 42.00 | 36% | Yes | 10.00 | Tag | 15.00 | Tag | 50.00 | Tag | Tag | 12.0 | Tag | Mid Tier Pharma | Liver & Gallbladder Diseases, Psychiatric | Synthetics | $1.52/share (US$42M) | $10M on IV Phase III commencement | $15M on oral Phase III commencement | $50M in sales milestone upon $500M in cumulative Product sales | |||
65 | 10/2017 | Crystal Bioscience | Ligand | Preclinical | Link | SEC Full | Acquisition for cash | 35.50 | 25.00 | 70% | Yes | 10.50 | Tag | Tag | Tag | Monoclonals | 10-20% Share of current licenses | ||||||||||
66 | 9/2017 | Rigontec | Merck | Phase I | Link | PR | Acquisition for cash | 553.00 | 137.00 | 25% | Top Pharma | Cancer | Oligonucleotides | €115 million (US$137M) | Up to €349 million (US$416M) in clinical, development, regulatory and commercial milestones | |||||||||||||
67 | 8/2017 | Confluence Life Sciences | Aclaris Therapeutics | Preclinical | Link | SEC Redacted | Acquisition for cash and shares | 100.00 | 10.00 | 10.00 | 20% | 2013-19 IPOs | Autoimmune/Inflammatory | Synthetics | Low single-digit royalties | $80M in development, regulatory and commercial milestones | ||||||||||||
68 | 6/2017 | Altor BioScience | NantWorks, NantCell | Lead Molecule | Link | PR | Acquisition for cash and shares | 290.00 | $2.00/Altor share (payable in cash and/or NantCell common stock at the election of each Altor BioScience stockholder) | Two Contingent Value Rights valued at up to $4.00/sh s (payable in cash and/or NantCell common stock at the election of each Altor BioScience stockholder) upon achievement of a regulatory milestone and a sales milestone. | ||||||||||||||||||
69 | 6/2017 | Miramar Labs | Sientra | Device | Link | SEC Full | Acquisition for cash & CVR | 34.00 | 20.00 | 59% | 14.00 | 2013-19 IPOs | |||||||||||||||
70 | 4/2017 | 1st Order Pharmaceuticals | Xenon Pharmaceuticals | Preclinical | Link | SEC Redacted | XEN1101 potassium channel modulator for epilepsy | 48.65 | 0.35 | 1% | 14.70 | 33.60 | 2013-19 IPOs | Central Nervous System | Synthetics | $350K, per Xenon's 6Q17 | $33.6M, per Xenon's 6Q17 | Mid-to-high single digit royalty, per Xenon's 6Q17 | $14.7M, per Xenon's 6Q17 | |||||||||||
71 | 4/2017 | Innocoll AG | Gurnet Point | Filed | Link | SEC Full | Acq. for $1.75/sh in cash plus $4.90 in CVR | 209.00 | 55.00 | 26% | Yes | 64.00 | Tag | 31.00 | Tag | 59.00 | Tag | Tag | 3.0 | Tag | 2013-19 IPOs | Central Nervous System | Drug Delivery | $1.75/sh | $59M (1.87/sh) for $60M annual sales | $64M ($2.03/sh) first label | $31M ($1/sh) 2nd label | |||
72 | 3/2017 | Concert Pharmaceuticals | Vertex | Phase II | Link | SEC Full | CTP-656 (deuterated ivacaftor CFTR modulator) for cystic fibrosis | 250.00 | 160.00 | 64% | Yes | 90.00 | Tag | 2013-19 IPOs | Major Biotech | Respiratory | Synthetics | ||||||||||
73 | 1/2017 | Achieve Life Science | OncoGenex Pharmaceuticals | Phase III | Link | SEC Full | Reverse merger for stock & CVR | 12.60 | 12.60 | Cancer, Psychiatric | Oligonucleotides, Synthetics | $12.6M of combined shares issued to OncoGenex' shareholders, per Achieve's 9Q18 | CVR of 80% of value realized from disposition of apatorsen, but program terminated in 8/17, per Achieve's 9Q18 | |||||||||||||||
74 | 1/2017 | Delinia | Celgene | Preclinical | Link | PR | Acquisition for cash | 775.00 | 300.00 | 39% | Major Biotech | Autoimmune/Inflammatory | $475M in development, regulatory and commercial milestones | ||||||||||||||
75 | 12/2016 | Essentialis | Soleno Therapeutics | Phase II | Link | SEC Full | Acq of rare disease developer for PraderWilli syndrome | 48.50 | Yes | Tag | 30.00 | Tag | Tag | 14.0 | Tag | 2013-19 IPOs | Endocrinological & Metabolic | 22M Total Merger Shares, of which 80% paid at closing & balance based on dev milestone | 20% of Total Merger Shares as development Milestone Shares | 4.8M Soleno shares issued @ $3.85/sh FMV per Soleno's 2018 10-K | |||||||||
76 | 12/2016 | Shire | Translate Bio | Lead Molecule | Link | SEC Redacted | Acquisition of Messenger RNA Platform in exchange for equity stake | 119.60 | 41.10 | 34% | 10.00 | 60.00 | Major Biotech | 2013-19 IPOs | Other/Miscellaneous, Respiratory | Oligonucleotides | $60M, per Translate Bio's IPO prospectus | 32.3M common shs with FMV of $41.1M, per Translate Bio's IPO prospectus | $8.5M for 6M add'l eq shares, per Translate Bio's IPO prospectus | Mid-single percentage royalty, per Translate Bio's IPO prospectus | $10M for non-CF MRT Product approval, per Translate Bio's IPO prospectus | ||||||||||
77 | 12/2016 | Ziarco | Novartis | Phase II | Link | PR | Acquisition for cash | 420.00 | 325.00 | 77% | 95.00 | Top Pharma | Dermatologic | Synthetics | $325M per Novartis' 2018 20-F | $95M per Novartis' 2018 20-F | ||||||||||||
78 | 11/2016 | Kolltan Pharmaceuticals | Celldex | Phase I | Link | SEC Full | Acquisition in stock-for-stock transaction | 237.50 | 62.50 | 26% | Yes | 140.00 | Tag | 10.00 | Tag | 25.00 | Tag | Tag | 15.0 | Tag | Cancer | Monoclonals | Equity value of approximately $62.5M upfront | $140M in development & regulatory milestones | $10M for add'l partnership | ||||
79 | 11/2016 | Navidea Biopharmaceuticals | Cardinal Health | Diagnostic | Link | SEC Full | Lymphoseek radioimaging diagnostic for solid tumors in NAFTA | 150.00 | 80.00 | 53% | Yes | 70.00 | Tag | 8.00 | Tag | 10.5 | Tag | Cancer | Diagnostics | 10M warrant shares @ $1.50/sh | 8% royalty, subject to $160M cap | |||||||
80 | 11/2016 | TetraLogic Pharmaceuticals | Medivir | Phase II | Link | SEC Full | Remetinostat for lymphoma and birinapant for solid tumors | 165.00 | 12.00 | 7% | Yes | 7.00 | Tag | 25.00 | Tag | 121.00 | Tag | 10.00 | Tag | 2013-19 IPOs | Cancer | Drug Delivery, Synthetics | $21 for Remetinostat and $100M for birinapant | 5-10% earn-out royalty for birinapant | $7M for SHP-141 (Remetinostat) | $25M for birinapant | ||||
81 | 10/2016 | Immunetics | Oxford Immunotec Global | Diagnostic | Link | PR | Acquisition for cash | 12.00 | 6.00 | 50% | 6.00 | 2013-19 IPOs | Diagnostics | ||||||||||||||
82 | 9/2016 | Tobira Therapeutics | Allergan | Phase II | Link | SEC Full | Acquisition for cash and CVRs | 1,481.00 | 537.00 | 36% | Yes | 602.00 | Tag | 342.00 | Tag | Tag | 12.2 | Tag | 2013-19 IPOs | Mid Tier Pharma | Liver & Gallbladder Diseases | Synthetics | $28.35/sh in cash for 18.94M shares | $18.07/sh CVR for $1B in annual sales | $31.77/sh in CVR for Ph III, submission and US approval of cenicriviroc | ||||
83 | 9/2016 | Viventia | Sesen Bio | Phase III | Link | SEC Full | Acquisition for shares | 36.00 | 13.50 | 38% | Yes | 22.50 | Tag | 2.00 | Tag | Cancer | Monoclonals, Recombinant DNA | 4M Eleven shares | |||||||||
84 | 8/2016 | Macrocure | Leap Therapeutics | Phase I | Link | SEC Full | Acquisition for shares | 32.20 | 32.20 | 2.00 | 2013-19 IPOs | Cancer | Monoclonals | 3,257K Leap shares @ $9.90/sh, per Leap's 3Q17 | 2% royalty, per CVR agmt | |||||||||||||
85 | 8/2016 | Semnur Pharmaceuticals | Sorrento Therapeutics, Scintilla Pharmaceuticals | Phase II | Link | SEC Full | Acquisition for cash and shares | 350.00 | 50.00 | 20.00 | 20% | Yes | 40.00 | Tag | 240.00 | Tag | Tag | 15.0 | Tag | Central Nervous System | |||||||
86 | 7/2016 | BioD | Integra Lifesciences, Derma Sciences | Approved | Link | FOIA | Acquisition for cash and shares | 77.80 | 13.80 | 7.50 | 27% | Yes | 30.00 | Tag | 26.50 | Tag | Bone Disease, Ophthalmic | Up to $13.25M each year in 2017 and 2018 | 1.8 million shares of Derma Sciences common stock, valued at $7.5 million based on VWAP price of $4.1692 as of 7/26/16 | Regulatory milestone payments in 2016 and/or 2017 in aggregate up to $30M, payable in up to 35% common stock at Derma Sciences’ discretion | |||||||||
87 | 6/2016 | Afferent Pharmaceuticals | Merck | Phase II | Link | PR | Acquisition for cash | 1,250.00 | 500.00 | 40% | Top Pharma | Cardiovascular, Central Nervous System, Respiratory | Synthetics | $750M in clinical and commercial milestones | |||||||||||||
88 | 6/2016 | Asklepion Pharmaceuticals | Retrophin | Formulation | Link | SEC Redacted | L-UDCA (iquid formulation of ursodeoxycholic acid) for primary biliary cholangitis | 59.00 | 0.50 | 1% | 23.50 | 2013-19 IPOs | Autoimmune/Inflammatory | Drug Delivery, Synthetics | $23.5M based on cumulative sales milestones of liquid ursodeoxycholic acid in PBC | Up to $35M in development and commercialization milestones for additional indications | ||||||||||||
89 | 5/2016 | Novartis | PDL BioPharma, Noden Pharma | Approved | Link | SEC Redacted | Tekturna (aliskiren) and Tekturna HCT (aliskiren and hydrochlorothiazide) for hypertension | 294.00 | 199.00 | 68% | Yes | 95.00 | Tag | Top Pharma | Cardiovascular | Synthetics | $110M on signing plus $89M on 1st anniv | ||||||||||
90 | 5/2016 | PTS Diagnostics | Sinocare | Diagnostic | Link | PR | Acquisition for cash | 200.00 | 110.00 | 55% | Diagnostics | $200M in cash including contingent considerations of up to $90M in undisclosed milestones | |||||||||||||||
91 | 3/2016 | Padlock Therapeutics | Bristol-Myers Squibb | Discovery | Link | PR | Acquisition for cash | 600.00 | 225.00 | 38% | 375.00 | Top Pharma | Autoimmune/Inflammatory | $225M in upfront and near-term milestone payments | |||||||||||||
92 | 2/2016 | Alexza Pharmaceuticals | Ferrer | Approved | Link | SEC Full | Acquisition for $.90/sh in cash plus CVR | 55.00 | 20.00 | 36% | Mid Tier Pharma | Central Nervous System | Drug Delivery, Synthetics | $35M in CVR payments for development & sales milestones | |||||||||||||
93 | 1/2016 | Ellipse Technologies | NuVasive | Device | Link | FOIA | Acquisition for cash | 410.00 | 380.00 | 93% | Yes | 30.00 | Tag | Tag | Bone Disease | Device | |||||||||||
94 | 1/2016 | IOmet Pharma | Merck | Preclinical | Link | PR | Acquisition for cash | 400.00 | 150.00 | 38% | 250.00 | Top Pharma | Cancer | Synthetics | $150M, per Merck's 3Q16 | $250M, per Merck's 3Q16 | ||||||||||||
95 | 1/2016 | NorMedix | SurModics | Device | Link | SEC Full | Acquisition for cash | 14.00 | 7.00 | 50% | 7.00 | Device | |||||||||||||||
96 | 12/2015 | Acerta Pharma | AstraZeneca | Phase III | Link | PR | Acquisition of 55% equity stake with option to acquire remaining stake | 7,000.00 | 2,500.00 | 36% | 1,500.00 | Top Pharma | Cancer | Synthetics | $1.5 billion upon approval of acalabrutinib for any indication in the US, or the end of 2018, whichever comes first | $3B for remaining 45% | ||||||||||||
97 | 11/2015 | Cardioxyl Pharmaceuticals | Bristol-Myers Squibb | Phase II | Link | PR | Acquisition for cash | 2,075.00 | 300.00 | 14% | Top Pharma | Cardiovascular | Synthetics | $300M in upfront and near-term milestones, additional development, regulatory and sales milestones totaling $1.775 billion | |||||||||||||
98 | 11/2015 | Dyax | Takeda, Shire | Phase III | Link | SEC Full | Acquisition for $37.30/sh in cash plus CVR | 6,546.00 | 5,900.00 | 90% | Yes | 646.00 | Tag | Tag | 4.0 | Tag | Major Biotech, Top Pharma | Autoimmune/Inflammatory, Hematologic, Ophthalmic, Other/Miscellaneous | Monoclonals | $646M in CVR, payable on approval of DX-2930 | $37.30/sh | |||||||
99 | 11/2015 | Sellas Life Sciences Group, Galena Biopharma | Sentynl Therapeutics | Approved | Link | FOIA | Abstral (fentanyl) sublingual tablets for treatment of pain | 12.00 | 8.00 | 67% | Yes | 4.00 | Tag | Central Nervous System | Drug Delivery | ||||||||||||
100 | 10/2015 | Telormedix | UroGen Pharma | Phase II | Link | SEC Full | Vesimune (TMX-101) for local treatment of bladder cancer | Yes | Tag | Tag | 2013-19 IPOs | Cancer |