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Deal DateSellerBuyerMost Advanced StageDeal LinkDeal SourceDeal SubjectDeal Size ($M)Upfront Cash ($M)Upfront Equity ($M)Upfront Share of TotalHas TagsDev/Reg Milestones ($M)Dev/Reg Milestones TagAdd'l Milestones ($M)Add'l Milestones TagSales Milestones ($M)Sales Milestones TagMaximum Royalty (%)Diligence TagCVR Payout Term (yrs)CVR Payout Term TagSeller CategoryBuyer CategoryDiseaseTechnologyFinancial Term Explanations
2
1/2020Clearsight, SCI SolutionsR1 RCMOtherLinkSEC FullAcquisition for cash 200.00 190.00 95% 10.00
3
12/2019Aevi Genomic MedicineCerecorPhase ILinkSEC FullAcquisition in $16.1M all-stock transaction plus CVRs valued at $6.5M 22.60 16.10 71%Yes 6.50 Tag5.0Tag2013-19 IPOs
Autoimmune/Inflammatory, Cancer, Gastrointestinal, Other/Miscellaneous
Monoclonals
4
12/2019NanoString TechnologiesVeracyteDiagnosticLinkSEC RedactedFLEX System assays for breast cancer and lymphoma 60.00 40.00 10.00 83% 10.00 2013-19 IPOs2013-19 IPOsCancerDiagnostics
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
11/2019Menlo TherapeuticsFoamixApprovedLinkSEC FullMerger agreement in stock-for-stock exchange 165.00 55.00 33%Yes 110.00 TagTag0.5Tag2013-19 IPOs2013-19 IPOsDermatologicDrug 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
10/2019Achillion PharmaceuticalsAlexionPhase IILinkSEC FullAcquisition for $6.30/sh in cash plus CVR 1,225.00 930.00 76%Yes 295.00 TagTag4.5TagMajor BiotechHematologicSynthetics$6.30/sh in cash | $2/share CVR
7
10/2019Aclaris TherapeuticsEPI HealthApprovedLinkSEC RedactedRhofade (oxymetazoline hydrochloride) cream for rosacea 55.00 35.00 64% 20.00 2013-19 IPOsDermatologic
8
10/2019CerecorAytu BioScienceApprovedLinkSEC FullPediatric 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
10/2019Progenics PharmaceuticalsLantheus Medical ImagingApprovedLinkSEC FullAcquisition in all-stock transactionYesTagTag4.0TagCancerSynthetics
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
9/2019Alder BiopharmaceuticalsLundbeck A/SFiledLinkSEC FullAcquisition for $18/sh in cash plus CVR 1,950.00 1,755.00 90%Yes 195.00 TagTag5.2Tag2013-19 IPOsMid Tier PharmaCentral Nervous SystemMonoclonals
CVR for additional $2/sh upon EMA approval of eptinezumab | $18/sh
11
9/2019Dova PharmaceuticalsSwedish Orphan BiovitrumApprovedLinkSEC FullAcquisition for $27.50/sh in cash plus CVR 915.00 870.00 95%Yes 45.00 TagTag3.2Tag2013-19 IPOsHematologicSynthetics
$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
8/2019Modis TherapeuticsZogenixPhase IILinkSEC RedactedAcquisition for cash and shares 400.00 175.00 75.00 63%Yes 150.00 Tag 5.00 Tag15.0TagOther/Miscellaneous $100M upon FDA approval, additional $50M upon EMA approval
13
8/2019New AeraInogenDeviceLinkSEC FullAcquisition for cash 101.80 70.40 69%Yes 27.40 TagRespiratoryDevice18.75% of sales above $2M/yr, up to $27.38M cap
14
8/2019PointR DataMateon TherapeuticsDiscoveryLinkSEC FullAcquisition for equityCancer
PointR receives 23.3% of combined shares | $15M in add'l equity for dev milestones
15
8/2019SentreHeartAtriCureDeviceLinkSEC FullDeveloper of percutaneous left atrial appendage management solutions 300.00 40.00 13%Yes 260.00 TagTag7.3TagCardiovascularDevice
16
7/2019Gemphire TherapeuticsNeuroBo PharmaceuticalsPhase IIILinkSEC FullMerger in all-stock transaction to advance neurodegenerative disease companyYesTag15.0Tag2013-19 IPOsCentral Nervous System
80% of Consideration from a Gemcabene Deal | Gemphire owns 3.7% of combined entity
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7/2019Spitfire PharmaAltimmunePreclinicalLinkSEC FullAcquisition for $5M in shares plus additional milestone payments 93.00 5.00 5%Yes 8.00 Tag 80.00 TagTagLiver & Gallbladder DiseasesPeptides
$5M in Altimmune common stock | $8M in future regulatory and clinical milestones payable in cash or common stock
18
6/2019Dose MedicalGlaukosFormulationLinkSEC FullAcquisition for cash 56.25 2.50 4%Yes 17.50 Tag 8.75 27.50 Tag 5.00 10.0TagOphthalmicDrug Delivery
5% royalty, but potential buyouts at $30-40M for Protein product or $10-15M for Steroid product
19
6/2019Exonics TherapeuticsVertexPreclinicalLinkSEC RedactedAcquisition for $245M in cash plus milestones 1,047.00 319.30 30%YesTagTagMajor BiotechOther/MiscellaneousOligonucleotides$802M in agg milestones, per Vertex's 6Q19
20
5/2019Peloton TherapeuticsMerckPhase IILinkPRAcquisition for $1.05 billion in cash plus milestones 2,200.00 1,050.00 48%Top PharmaCancerSynthetics$1.15 billion in regulatory and sales milestones
21
5/2019VertiflexBoston ScientificDeviceLinkPRAcquisition for cash 565.00 465.00 82% 100.00 Central Nervous SystemDevice
Additional payments contingent on commercial milestones for the next three years | $100M per Boston Sci's 9Q19
22
4/2019Aratana TherapeuticsElancoOtherLinkSEC FullAcquisition for shares plus CVR 245.00 232.75 95%Yes 12.25 TagTag2.6Tag2013-19 IPOs2013-19 IPOsOther/Miscellaneous
$0.25/CVR in sales milestone | Elanco shares worth $4.75/Aratana sh
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4/2019Debiopharm, GenePOCMeridian BioscienceDiagnosticLinkSEC RedactedAcquisition 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
4/2019OncotelicMateon TherapeuticsPhase IILinkSEC FullReverse merger agreement 3.70 3.70 CancerOligonucleotides
75% of proceed from sale or license of OXi4503 and CA4P within 4 yrs (see CVR agmt)
25
3/2019Bellwether BioGuardant HealthDiagnosticLinkPRAcquisition for cash 20.30 10.30 51% 10.00 2013-19 IPOsCancerDiagnostics$10.3M per Guardant's 6Q19 | $10M per Guardant's 6Q19
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3/2019GTxOncternal TherapeuticsPhase ILinkSEC FullAcquisition for shares 29.00 29.00 10.00 CancerMonoclonals, Synthetics
$29M in FMV of shares, per Octernal's 6Q19 | 50% of Gross Consideration in SARM or SARD Deal | 5-10% royalty
27
3/2019MyoSciencePacira PharmaceuticalsDeviceLinkSEC RedactedAcquisition for cash 220.00 120.00 55%YesTag4.8TagCentral Nervous SystemDevice$100M in agg milestones per Pacira's 2019 10-K
28
2/2019Clementia PharmaceuticalsIpsenPhase IIILinkSEC FullAcquisition for $25/sh in cash plus CVR ($6/sh) 1,267.00 1,004.00 79%Yes 263.00 TagTagTag6.0Tag2013-19 IPOsMid Tier PharmaBone DiseaseSynthetics$25/sh | $6/CVR if FDA filing by 12/31/24
29
2/2019FHF HoldingsTilrayOtherLinkSEC FullAcquisition for cash and shares 319.00 282.00 88%Yes 37.00 TagTag1.0Tag2013-19 IPOs
Cdn$370M | Cdn$49M as milestone for meeting sales goal for 2019
30
2/2019Natura Naturals HoldingsTilrayOtherLinkSEC FullAcquisition for cash and shares 53.40 26.70 50% 26.70 2013-19 IPOsNatural Product
$26.7M (Cdn$35M) | $26.7M (Cdn$35M) in milestones for cultivation yield | Cdn$70M
31
1/2019CelgeneBristol-Myers SquibbApprovedLinkSEC FullAcquisition for cash and equity plus CVR 96,300.00 74,000.00 16,000.00 93%Yes 6,300.00 TagTag2.2TagMajor BiotechTop 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
AlexionPhase ILinkSEC RedactedOption to acquire Caelum based on Phase II data 560.00 30.00 5%Yes 30.00 Tag 250.00 Tag 250.00 TagTagMajor BiotechHematologicMonoclonals
$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
1/2019Helio VisionAldeyra TherapeuticsPhase IILinkSEC FullAcquisition for shares 25.00 10.00 40% 15.00 2013-19 IPOsOphthalmicSynthetics
34
1/2019Medisource PartnersGenerex BiotechnologyDeviceLinkSEC FullAcquisition for shares 1.50 1.00 67% 0.50
35
1/2019Pantheon MedicalGenerex BiotechnologyDeviceLinkSEC FullAcquisition for shares 2.10 1.40 67% 0.70 Bone DiseaseDevice
36
1/2019Spectrum Pharmaceuticals
Aurobindo Pharma, Acrotech Biopharma
ApprovedLinkSEC FullAcquisition of portfolio of seven FDA-approved hematology/oncology products 300.00 160.00 53%Yes 40.00 Tag 100.00 Tag5.0TagCancerSynthetics
37
12/2018OncoMed PharmaceuticalsMereo BioPharmaPhase ILinkSEC FullReverse merger for shares 137.40 57.40 42%Yes 80.00 TagTag5.0Tag2013-19 IPOsCancer
$57.4M of Mereo ADRs | 70% of Celgene milestones & 50% of DLL4 or VEGF milestones, up to $80M cap
38
12/2018Perosphere PharmaceuticalsAMAG PharmaceuticalsPhase IILinkSEC FullAcquisition for cash 415.00 50.00 12%Yes 140.00 Tag 225.00 TagTag6.0TagHematologicSynthetics
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
12/2018Vascular InsightsMerit MedicalDeviceLinkSEC FullClariVein catheter infusion systems 60.00 40.00 67% 20.00 TagCardiovascularDevice
40
11/2018
Boyce & Bynum Pathology Laboratories
Quest DiagnosticsDiagnosticLinkPRAcquisition 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
11/2018Cianna MedicalMerit MedicalDeviceLinkSEC FullAcquisition for cash 200.00 135.00 68%Yes 15.00 Tag 50.00 Device
42
11/2018Enlivex TherapeuticsBioblast PharmaPhase IILinkSEC FullReverse merger agreement 100.00 100.00 YesTagTag1.0Tag
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 PharmaceuticalsPhase IIILinkSEC FullAcquisition for cash of IV Tramadol for pain 215.00 35.00 16%Yes 180.00 Tag2013-19 IPOsCentral Nervous SystemDrug 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
11/2018RegentysGenerex BiotechnologyDeviceLinkSEC FullAcquisition of 51% stake 15.00 0.40 3% 14.60 Gastrointestinal
45
10/2018Corium InternationalGurnet PointApprovedLinkSEC FullAcquisition for $12.50/sh in cash plus $.50 in CVR 504.00 485.00 96%Yes 19.00 TagTag2013-19 IPOs
Central Nervous System, Other/Miscellaneous
Drug Delivery
$19M on FDA approval of Corplex Donepezil for Alzheimer's by 3/31/20
46
8/2018Adapt PharmaEmergent BioSolutionsApprovedLinkSEC RedactedAcquisition of neddle-free naloxone for cash and shares 723.00 575.00 48.00 86%Yes 100.00 TagTag4.3Tag
Central Nervous System, Psychiatric
Drug Delivery, Synthetics
$575M cash, per Emergent's 9Q18 | 733.3K shares @ $65.28/sh, per Emergent's 9Q18
47
8/2018Gilead, YM BiosciencesSierra OncologyPhase IIILinkSEC RedactedMomelotinib JAK 1/2 and ACVR1 inhibitor for myelofibrosis 198.00 3.00 Major Biotech2013-19 IPOsCancerSynthetics
Tiered royalties from mid-teens to high-twenties, per Sierra's 9Q18 | $195M in agg milestones, per Sierra's 9Q18
48
7/2018Agilis BiotherapeuticsPTC TherapeuticsPhase IILinkSEC RedactedAcquisition 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
7/2018Apricus BiosciencesSeelos TherapeuticsPhase IILinkSEC FullAcquisition for shares plus CVR 13.00 13.00 90% of Vitaros payments above $500K for 10 yrs (see CVR agmt)
50
7/2018GlaxoSmithKline
Roivant Sciences, Dermavant Sciences
Phase IILinkSEC RedactedTapinarof 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 PharmaDermatologicDrug 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
7/2018MabVax TherapeuticsBoehringer IngelheimPreclinicalLinkSEC RedactedGlycan fully human antibody program for solid tumors 11.00 4.00 36% 7.00 Mid Tier PharmaCancerMonoclonals$7M in dev/reg milestones, per MabVax's 2018 S-1
52
5/2018Myonexus TherapeuticsSarepta TherapeuticsPreclinicalLinkSEC RedactedLimb-Girdle Muscular Dystrophy gene therapy programs and option to acquire Myonexus 425.00 60.00 14% 165.00 Other/MiscellaneousOligonucleotides
$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
4/2018SteadyMedUnited TherapeuticsDeviceLinkSEC FullAcquisition for $4.46/sh in cash plus CVR for $2.63/sh 216.00 141.00 65%Yes 75.00 TagTag5.0Tag2013-19 IPOsCardiovascularDevice, 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
3/2018Icon BioscienceEyePoint PharmaceuticalsApprovedLinkSEC FullAcquisition for cash and rebranded as EyePoint Pharmaceuticals 125.00 15.00 12%Yes 15.00 Tag 95.00 Tag 16.00 TagOphthalmicDrug Delivery
55
2/2018AstraZeneca, MedImmuneViela BioPhase IILinkSEC RedactedSpinout of six compounds including inebilizumab for severe autoimmune diseases 261.30 142.30 54%Top PharmaAutoimmune/InflammatoryMonoclonals$119M in agg milestones, per Viela's IPO prospectus
56
1/2018Impact BiomedicinesCelgenePhase IIILinkPRAcquisition for cash 7,000.00 1,100.00 16% 1,400.00 4,500.00 Major BiotechCancerSynthetics
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
1/2018STAT-DxQiagenDiagnosticLinkPRAcquisition 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
12/2017Cell Design LabsGilead, Kite PharmaPreclinicalLinkPRAcquisition 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
12/2017Censa PharmaceuticalsRetrophinPhase ILinkPROption 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
11/2017Ocera TherapeuticsMallinckrodtPhase IILinkSEC FullAcquisition for $1.52/sh in cash plus CVR 117.00 42.00 36%Yes 10.00 Tag 15.00 Tag 50.00 TagTag12.0TagMid 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
10/2017Crystal BioscienceLigandPreclinicalLinkSEC FullAcquisition for cash 35.50 25.00 70%Yes 10.50 TagTagTagMonoclonals10-20% Share of current licenses
66
9/2017RigontecMerckPhase ILinkPRAcquisition for cash 553.00 137.00 25%Top PharmaCancerOligonucleotides
€115 million (US$137M) | Up to €349 million (US$416M) in clinical, development, regulatory and commercial milestones
67
8/2017Confluence Life SciencesAclaris TherapeuticsPreclinicalLinkSEC RedactedAcquisition for cash and shares 100.00 10.00 10.00 20%2013-19 IPOsAutoimmune/InflammatorySynthetics
Low single-digit royalties | $80M in development, regulatory and commercial milestones
68
6/2017Altor BioScienceNantWorks, NantCellLead MoleculeLinkPRAcquisition 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
6/2017Miramar LabsSientraDeviceLinkSEC FullAcquisition for cash & CVR 34.00 20.00 59% 14.00 2013-19 IPOs
70
4/20171st Order PharmaceuticalsXenon PharmaceuticalsPreclinicalLinkSEC RedactedXEN1101 potassium channel modulator for epilepsy 48.65 0.35 1% 14.70 33.60 2013-19 IPOsCentral Nervous SystemSynthetics
$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
4/2017Innocoll AGGurnet PointFiledLinkSEC FullAcq. 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 TagTag3.0Tag2013-19 IPOsCentral Nervous SystemDrug Delivery
$1.75/sh | $59M (1.87/sh) for $60M annual sales | $64M ($2.03/sh) first label | $31M ($1/sh) 2nd label
72
3/2017Concert PharmaceuticalsVertexPhase IILinkSEC FullCTP-656 (deuterated ivacaftor CFTR modulator) for cystic fibrosis 250.00 160.00 64%Yes 90.00 Tag2013-19 IPOsMajor BiotechRespiratorySynthetics
73
1/2017Achieve Life ScienceOncoGenex PharmaceuticalsPhase IIILinkSEC FullReverse merger for stock & CVR 12.60 12.60 Cancer, PsychiatricOligonucleotides, 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
1/2017DeliniaCelgenePreclinicalLinkPRAcquisition for cash 775.00 300.00 39%Major BiotechAutoimmune/Inflammatory$475M in development, regulatory and commercial milestones
75
12/2016EssentialisSoleno TherapeuticsPhase IILinkSEC FullAcq of rare disease developer for Prader­Willi syndrome 48.50 YesTag 30.00 TagTag14.0Tag2013-19 IPOsEndocrinological & 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
12/2016ShireTranslate BioLead MoleculeLinkSEC RedactedAcquisition of Messenger RNA Platform in exchange for equity stake 119.60 41.10 34% 10.00 60.00 Major Biotech2013-19 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
12/2016ZiarcoNovartisPhase IILinkPRAcquisition for cash 420.00 325.00 77% 95.00 Top PharmaDermatologicSynthetics$325M per Novartis' 2018 20-F | $95M per Novartis' 2018 20-F
78
11/2016Kolltan PharmaceuticalsCelldexPhase ILinkSEC FullAcquisition in stock-for-stock transaction 237.50 62.50 26%Yes 140.00 Tag 10.00 Tag 25.00 TagTag15.0TagCancerMonoclonals
Equity value of approximately $62.5M upfront | $140M in development & regulatory milestones | $10M for add'l partnership
79
11/2016Navidea BiopharmaceuticalsCardinal HealthDiagnosticLinkSEC FullLymphoseek radioimaging diagnostic for solid tumors in NAFTA 150.00 80.00 53%Yes 70.00 Tag 8.00 Tag10.5TagCancerDiagnostics
10M warrant shares @ $1.50/sh | 8% royalty, subject to $160M cap
80
11/2016TetraLogic PharmaceuticalsMedivirPhase IILinkSEC FullRemetinostat for lymphoma and birinapant for solid tumors 165.00 12.00 7%Yes 7.00 Tag 25.00 Tag 121.00 Tag 10.00 Tag2013-19 IPOsCancerDrug 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
10/2016ImmuneticsOxford Immunotec GlobalDiagnosticLinkPRAcquisition for cash 12.00 6.00 50% 6.00 2013-19 IPOsDiagnostics
82
9/2016Tobira TherapeuticsAllerganPhase IILinkSEC FullAcquisition for cash and CVRs 1,481.00 537.00 36%Yes 602.00 Tag 342.00 TagTag12.2Tag2013-19 IPOsMid Tier PharmaLiver & Gallbladder DiseasesSynthetics
$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
9/2016ViventiaSesen BioPhase IIILinkSEC FullAcquisition for shares 36.00 13.50 38%Yes 22.50 Tag 2.00 TagCancer
Monoclonals, Recombinant DNA
4M Eleven shares
84
8/2016MacrocureLeap TherapeuticsPhase ILinkSEC FullAcquisition for shares 32.20 32.20 2.00 2013-19 IPOsCancerMonoclonals
3,257K Leap shares @ $9.90/sh, per Leap's 3Q17 | 2% royalty, per CVR agmt
85
8/2016Semnur Pharmaceuticals
Sorrento Therapeutics, Scintilla Pharmaceuticals
Phase IILinkSEC FullAcquisition for cash and shares 350.00 50.00 20.00 20%Yes 40.00 Tag 240.00 TagTag15.0TagCentral Nervous System
86
7/2016BioD
Integra Lifesciences, Derma Sciences
ApprovedLinkFOIAAcquisition for cash and shares 77.80 13.80 7.50 27%Yes 30.00 Tag 26.50 TagBone 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
6/2016Afferent PharmaceuticalsMerckPhase IILinkPRAcquisition for cash 1,250.00 500.00 40%Top Pharma
Cardiovascular, Central Nervous System, Respiratory
Synthetics$750M in clinical and commercial milestones
88
6/2016Asklepion PharmaceuticalsRetrophinFormulationLinkSEC RedactedL-UDCA (iquid formulation of ursodeoxycholic acid) for primary biliary cholangitis 59.00 0.50 1% 23.50 2013-19 IPOsAutoimmune/InflammatoryDrug 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
5/2016NovartisPDL BioPharma, Noden PharmaApprovedLinkSEC RedactedTekturna (aliskiren) and Tekturna HCT (aliskiren and hydrochlorothiazide) for hypertension 294.00 199.00 68%Yes 95.00 TagTop PharmaCardiovascularSynthetics$110M on signing plus $89M on 1st anniv
90
5/2016PTS DiagnosticsSinocareDiagnosticLinkPRAcquisition for cash 200.00 110.00 55%Diagnostics
$200M in cash including contingent considerations of up to $90M in undisclosed milestones
91
3/2016Padlock TherapeuticsBristol-Myers SquibbDiscoveryLinkPRAcquisition for cash 600.00 225.00 38% 375.00 Top PharmaAutoimmune/Inflammatory$225M in upfront and near-term milestone payments
92
2/2016Alexza PharmaceuticalsFerrerApprovedLinkSEC FullAcquisition for $.90/sh in cash plus CVR 55.00 20.00 36%Mid Tier PharmaCentral Nervous SystemDrug Delivery, Synthetics$35M in CVR payments for development & sales milestones
93
1/2016Ellipse TechnologiesNuVasiveDeviceLinkFOIAAcquisition for cash 410.00 380.00 93%Yes 30.00 TagTagBone DiseaseDevice
94
1/2016IOmet PharmaMerckPreclinicalLinkPRAcquisition for cash 400.00 150.00 38% 250.00 Top PharmaCancerSynthetics$150M, per Merck's 3Q16 | $250M, per Merck's 3Q16
95
1/2016NorMedixSurModicsDeviceLinkSEC FullAcquisition for cash 14.00 7.00 50% 7.00 Device
96
12/2015Acerta PharmaAstraZenecaPhase IIILinkPRAcquisition of 55% equity stake with option to acquire remaining stake 7,000.00 2,500.00 36% 1,500.00 Top PharmaCancerSynthetics
$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
11/2015Cardioxyl PharmaceuticalsBristol-Myers SquibbPhase IILinkPRAcquisition for cash 2,075.00 300.00 14%Top PharmaCardiovascularSynthetics
$300M in upfront and near-term milestones, additional development, regulatory and sales milestones totaling $1.775 billion
98
11/2015DyaxTakeda, ShirePhase IIILinkSEC FullAcquisition for $37.30/sh in cash plus CVR 6,546.00 5,900.00 90%Yes 646.00 TagTag4.0Tag
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 TherapeuticsApprovedLinkFOIAAbstral (fentanyl) sublingual tablets for treatment of pain 12.00 8.00 67%Yes 4.00 TagCentral Nervous SystemDrug Delivery
100
10/2015TelormedixUroGen PharmaPhase IILinkSEC FullVesimune (TMX-101) for local treatment of bladder cancerYesTagTag2013-19 IPOsCancer