The report provides a detailed understanding and analysis of how and why companies enter business, royalty financing agreements.
The focus of the report is on partnerships for royalty assets where partners have entered an agreement to dispose of or acquire said assets.
The report provides access to royalty financing deal payment terms as announced between the parties. This data provides useful insight into the payment and other deal terms.
Royalty assets - where a specialist investment company acquires the rights to future royalty payments in return for payment of a lump sum payment to the licensor for the product
Revenue assets - also known as ‘synthetic royalties’, where a specialist investment company acquires the rights to a proportion of future revenue streams in return for a lump sum payment to the company
Understanding the flexibility of a prospective partner’s negotiated deals terms provides critical insight into the negotiation process in terms of what you can expect to achieve during the negotiation of terms. Whilst many smaller companies will be seeking details of the payments clauses, the devil is in the detail in terms of how payments are triggered and rights transferred - contract documents provide this insight where press releases and databases do not.
This report provides comprehensive access to royalty and revenue financing deals as announced in the life sciences industry since 2010.
This report contains links to online copies of actual royalty financing contract documents as submitted to the Securities Exchange Commission by biopharma companies and their partners.
Contract documents provide the answers to numerous questions about a prospective partner’s flexibility on a wide range of important issues, many of which will have a significant impact on each party’s ability to derive value from the deal.
The initial chapters of this report provide an orientation of royalty financing dealmaking and business activities. Chapter 1 provides an introduction to the report, whilst chapter 2 provides an analysis of the trends in royalty financing dealmaking as well as a discussion on the merits and attributes of royalty financing dealmaking.
Chapter 3 provides an overview of the structure of royalty financing deal contracts. The chapter includes numerous case studies to enable understanding of royalty financing deals for royalty assets.
Chapter 4 provides a review of the leading royalty financing deals since 2010. Deals are listed by headline value. Where the deal has an agreement contract published at the SEC a link provides online access to the contract.
Chapter 5 provides a comprehensive listing of royalty financing contract documents since 2010, including deal value, press release and contract document.
The chapter is organized by company A-Z.
Chapter 6 provides a comprehensive listing of all royalty financing deal announcements and agreement contracts since 2010 available in the public domain. The chapter is organized by company A-Z and therapeutic area. Each deal title links via Weblink to an online version of the deal record and, where available, the contract document, providing easy access to each contract document on demand.
The report also includes numerous tables and figures that illustrate the trends and activities in royalty financing dealmaking.
In conclusion, this report provides everything a prospective dealmaker needs to know about royalty financing, enabling thorough learning, education and due diligence prior and during the royalty financing dealmaking process.
Global Royalty Financing Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2010-2018 provides the reader with the following key benefits:
- In-depth understanding of royalty financing partnering deal trends since 2010
- Analysis of the structure of royalty financing partnering agreements with numerous real life case studies
- Comprehensive listing of all royalty financing deals since 2010, together with deal terms, value and press release
- Comprehensive access to actual royalty financing partnering contracts entered into by the world’s biopharma companies
- Insight into the terms included in a royalty financing partnering agreement, together with real world clause examples
- Understand the key deal terms companies have agreed in previous deals
- Undertake due diligence to assess suitability of your proposed deal terms for partner companies
Global Royalty Financing Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2010-2018 is intended to provide the reader with an in-depth understanding of the royalty financing trends and structure of deals entered into by leading biopharma companies worldwide.
Global Royalty Financing Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2010-2018 includes:
- Trends in royalty financing dealmaking in the biopharma industry since 2010
- Analysis of royalty financing deal structure
- Case studies of real-life royalty financing deals
- Comprehensive listing of royalty financing deals since 2010
- Access to royalty financing contract documents
- The leading royalty financing deals by value since 2010
- Most active royalty financing dealmakers since 2010
- The leading royalty financing partnering resources
- Company A-Z
- Headline value
- Therapeutic area
The Global Royalty Financing Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2010-2018 report provides comprehensive access to available contract documents for royalty financing deals. Analyzing actual contract agreements allows assessment of the following:
- What are the precise rights granted or optioned?
- What is actually granted by the agreement to the partner company?
- What exclusivity is granted?
- What is the payment structure for the deal?
- How do milestone align with clinical stage development phases?
- How aresalesand payments audited?
- What is the deal term?
- How are the key terms of the agreement defined?
- How are IPRs handled and owned?
- Who is responsible for commercialization?
- Who is responsible for development, supply, and manufacture?
- How is confidentiality and publication managed?
- How are disputes to be resolved?
- Under what conditions can the deal be terminated?
- What happens when there is a change of ownership?
- What sublicensing and subcontracting provisions have been agreed?
- Which boilerplate clauses does the company insist upon?
- Which boilerplate clauses appear to differ from partner to partner or deal type to deal type?
- Which jurisdiction does the company insist upon for agreement law?
Chapter 1 - Introduction
Chapter 2 - Trends in royalty financing dealmaking
2.2. Difference between royalty and revenue financing deals
2.3. Trends in royalty financing deals since 2010
2.3.1. Royalty financing dealmaking by year, 2010 to 2018
2.3.2. Royalty financing dealmaking by industry sector, 2010 to 2018
2.3.3. Royalty financing dealmaking by therapy area, 2010 to 2018
2.3.4. Royalty financing dealmaking most active, 2010 to 2018
2.4. Reasons for entering into royalty financing partnering deals
2.5 The emergence of royalty asset purchase deals
2.5.1. Primary players in royalty asset purchase deals
2.5.2. Recent royalty asset purchase deals
2.5.3. The role of big pharma in royalty buyback
2.5.4. The future of royalty asset purchase deals
Chapter 3 - Overview of royalty financing structure
3.2. Anatomy of a royalty asset purchase agreement
3.3. Example royalty financing agreements
3.3.1. Case study 1: Xoma - UCB - Orbimed Advisors
3.3.2. Case study 2: Dyax - Paul Capital Healthcare
3.3.3. Case study 3: Royalty financing: Biocryst Pharmaceuticals -Shionogi
3.3.4. Case study 4: Royalty asset: TPG - CV Therapeutics
Chapter 4 - Leading royalty financing deals
4.2. Top royalty financing deals by value
Chapter 5 - Top 10 most active royalty financing dealmakers
5.2. Top 10 most active royalty financing dealmakers
Chapter 6 - Royalty financing contract documents 2010- 2018
Chapter 7 - Royalty financing agreement directory 2010- 2018
7.2. Company A-Z
7.3. By industry sector
7.4. By therapy area
Appendix 1 - Royalty financing references
Appendix 2 - Resources
Appendix 3 - Deal type definitions
Appendix 4 - Example royalty financing contract document
About the Publisher
Table of Figures
Figure 1: Definition of royalty assets
Figure 2: Trends in royalty financing deal announcements, 2010- 2018
Figure 3: Royalty financing deals signed by industry sector, 2010 to 2018
Figure 4: Royalty financing deals signed by therapy area, 2010 to 2018
Figure 5: Royalty financing deals moast active companies, 2010 to 2018
Figure 6: Leading royalty asset investors
Figure 7: Leading royalty asset purchase agreements by value, 2010- 2018
Figure 8: Components of the royalty asset purchase deal structure
Figure 9: Top royalty financing deals by value since 2010
Figure 10: Most active royalty financing dealmakers 2010 to 2018
Figure 11: Online partnering resources
Figure 12: Deal type definitions
Figure 13: Royalty financing agreement for Qutenza