The report provides a detailed understanding and analysis of how, why and on what terms companies enter discovery stage partnering deals. These deals are discovery stage whereby the licensee obtains a right or an option right to license the licensors product or technology. These deals tend to be multicomponent, starting with collaborative R&D, and commercialization of outcomes.
This report provides details of the latest discovery agreements announced in the healthcare sector.
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 – contract documents provide this insight where press releases and databases do not.
This report contains a comprehensive listing of all discovery stage partnering deals announced since 2012 including financial terms where available including over 3,000 links to online deal records of actual discovery partnering deals as disclosed by the deal parties. In addition, where available, records include contract documents as submitted to the Securities Exchange Commission by 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 discovery stage deal making and business activities. Chapter 1 provides an introduction to the report, whilst chapter 2 provides an overview of why companies partner discovery stage compounds/products.
Chapter 3 provides an overview of discovery stage deals strategy and deal structure including numerous case studies. Chapter 4 provides an overview of the various payment strategies used in discovery stage deals.
Chapter 5 provides a review of discovery stage deal making since 2012. Deals activity is reviewed by year, therapeutic area, technology type, as well as most active dealmakers.
Chapter 6 provides a detailed analysis of discovery stage payment terms including headline, upfront, milestone and royalty rates.
Chapter 7 provides a review of the leading discovery stage deal by headline value. Each deal title links via Current Agreements deals and alliances database to an online version of the full deal record, and where available, the actual contract document, providing easy access to each deal record on demand.
Chapter 8 provides a comprehensive listing of the top 50 most active discovery stage dealmaker companies. Each deal title links via Current Agreements deals and alliances database to an online version of the full deal record, and where available, the actual contract document, providing easy access to each deal record on demand.
Chapter 9 provides a comprehensive and detailed review of discovery stage partnering deals signed and announced since 2012, where a contract document is available in the public domain.
Chapter 10 provides a comprehensive directory of discovery stage partnering deals since 2012.
The report includes deals announced by hundreds of life science companies including big pharma such as Abbott, Abbvie, Actavis, Amgen, Astellas, AstraZeneca, Baxter, Bayer, Biogen Idec, BMS, Celgene, Eisai, Eli Lilly, Gilead, GSK, J&J, Kyowa Hakko, Merck, Mitsubishi, Mylan, Novartis, Pfizer, Roche, Sanofi, Shire, Takeda, Teva, and Valeant, amongst many others.
The report also includes numerous tables and figures that illustrate the trends and activities in discovery stage partnering and deal making since 2012.
In addition, a comprehensive appendix of all discovery deals since 2012 is provided organized by partnering company A-Z, deal type, therapy focus and technology type. 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.
In conclusion, this report provides everything a prospective dealmaker needs to know about partnering in the research, development and commercialization of discovery stage products and compounds.
Global Discovery Stage Partnering Terms and Agreements in Pharma and Biotech 2012-2018 provide the reader with the following Key benefits:
In-depth understanding of discovery stage deal trends since 2012
Access to headline, upfront, milestone and royalty data
Analysis of the structure of discovery stage agreements with numerous real life case studies
Insight into the terms included in a discovery stage 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 Discovery Stage Partnering Terms and Agreements in Pharma and Biotech 2012-2018 is intended to provide the reader with an in-depth understanding and access to discovery stage deal trends and structure of deals entered into by leading companies worldwide.
Global Discovery Stage Partnering Terms and Agreements in Pharma and Biotech 2012-2018 include:
Trends in discovery stage dealmaking in the biopharma industry since 2012
Analysis of discovery stage deal structure
Access to headline, upfront, milestone and royalty data
Case studies of real-life discovery stage deals
Access to over 3,000 discovery stage deals
The leading discovery stage deals by value since 2012
Most active discovery stage dealmakers since 2012
The leading discovery stage partnering 2012
In Global Discovery Stage Partnering Terms and Agreements in Pharma and Biotech 2012-2018, the available contracts are listed by:
Stage of development at signing
Specific therapy target
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 Global Discovery Stage Partnering Terms and Agreements in Pharma and Biotech 2012-2018 report provides comprehensive access to available deals and contract documents for over 3,000 discovery stage 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 are sales and 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 – Why do companies partner at discovery stage?
2.2. The role of discovery stage partnering
2.2.1. In-licensing at discovery stage
2.2.2. Out-licensing at discovery stage
2.3. Difference between discovery, preclinical and clinical stage deals
2.4. Reasons for entering into discovery stage partnering deals
2.4.1. Licensors reasons for entering discovery stage deals
2.4.2. Licensees reasons for entering discovery stage deals
2.5. The future of discovery stage partnering deals
Chapter 3 – Discovery stage deal strategies and structure
3.2. At what stage do companies partner?
3.2.1. Partnering early in pharmaceutical/biotech
126.96.36.199. Discovery and preclinical stage partnering case studies
188.8.131.52.a. Case study: LEO Pharma - 4SC
184.108.40.206.b. Case study: Heptares Therapeutics - Cubist
220.127.116.11.c. Case study: Incyte – Agenus Bio
18.104.22.168.d. Case study: Janssen Pharmaceutical - Evotec
3.2.2. Partnering later in pharmaceutical/biotech
22.214.171.124. Clinical stage partnering case studies
126.96.36.199.a. Case study: Servier – GeNeuro
188.8.131.52.b. Case study: Teva – Xenon Pharmaceuticals
184.108.40.206.c. Case study: AstraZeneca - Ardelyx
220.127.116.11.d. Case study: Baxter – Onconova Therapeutics
3.3. Early and later stage partnering – a risk/cost comparison
3.4. What do companies spend on discovery, preclinical and clinical stage partnering?
3.5. Pure versus multi-component partnering deals
3.6. Pure licensing agreement structure
3.6.1. Example pure licensing agreements
3.6.1.a. Case study : Pfizer – Spark Therapeutics
3.6.1.b. Case study : Contrafect – Trellis Bioscience
3.7. Multicomponent discovery stage partnering agreements
3.7.1.a. Example multicomponent early stage clauses
3.7.1.a. Case study: Tracon – Boehringer Ingelheim – Macrogenics
3.7.1.b. Case study: Fibrocell Science – Intrexon
Chapter 4 – Discovery stage partnering payment strategies
4.2. Discovery stage payment strategies
4.3. Payment options
4.3.1. Headline values
4.3.2. Upfront payments
18.104.22.168. Conditionality of upfront payments
4.3.4. Convertible loans
4.3.6. R&D funding
4.3.7. Licensing fees
4.3.8. Milestone payments
4.3.9. Royalty payments
22.214.171.124. Issues affecting royalty rates
126.96.36.199. Royalties on combination products
188.8.131.52.a. Case study: Scripps Research Institute-Cyanotech
184.108.40.206. Guaranteed minimum/maximum annual payments
220.127.116.11. Royalty stacking
18.104.22.168. Royalties and supply/purchase contracts
4.3.11. Option payments
Chapter 5 – Trends in discovery stage deal making
5.2. Discovery stage partnering over the years
5.2.1. Attributes of discovery deals
5.3. Discovery stage partnering by deal type
5.4. Discovery stage partnering by disease type
5.5. Partnering by discovery stage technology type
5.6. Discovery stage partnering by most active company since 2012
Chapter 6 – Payment terms for discovery stage partnering
6.2. Guidelines for discovery stage payment terms
6.2.1. Upfront payments
6.2.2. Milestone payments
6.2.3. Royalty payments
6.3. Discovery stage payment terms – deal data analysis
6.3.1. Public data
6.3.2. Survey data
6.4. Payment terms analysis
6.4.1. Discovery stage headline values
6.4.2. Discovery stage deal upfront payments
6.4.3. Discovery stage deal milestone payments
6.4.4. Discovery stage royalty rates
Chapter 7 – Leading discovery stage deals
7.2. Top discovery stage deals by value
Chapter 8 – Top 50 most active discovery stage dealmakers
8.2. Top 50 most active discovery stage dealmakers
Chapter 9 – Discovery stage partnering contracts directory
9.2. Discovery stage deals with contracts 2012 to 2018
Chapter 10 – Discovery stage deal making by development stage
10.2. Deals by discovery stage
Appendix 1 – Discovery stage dealmaking by companies A-Z
Appendix 2 – Discovery stage dealmaking by industry sector
Appendix 3 – Discovery stage dealmaking by stage of development
Appendix 4 – Discovery stage dealmaking by therapy area
Appendix 5 – Discovery stage dealmaking by technology type
Table of figures
Figure 1: Definition of discovery, preclinical and clinical phases in dealmaking
Figure 2: Agreements signed by phase of development (2012-2018), % of all deals where stage disclosed
Figure 3: Components of the pure licensing deal structure
Figure 4: Payment options for discovery stage partnering deals
Figure 5: Issues affecting royalty rates
Figure 6: Discovery stage partnering frequency since 2012
Figure 7: Discovery stage partnering by deal type since 2012
Figure 8: Discovery stage partnering by disease type since 2012
Figure 9: Discovery stage partnering by technology type since 2012
Figure 10: Top 50 most active discovery stage dealmakers since 2012
Figure 11: Review of median upfront payments for discovery stage deals
Figure 12: Review of median milestone payments for discovery stage deals
Figure 13: Review of median royalty payments for discovery stage deals
Figure 14: Discovery stage deals with a headline value
Figure 15: Discovery stage deals with an upfront value
Figure 16: Discovery stage deals with a milestone value
Figure 17: Discovery stage deals with a royalty rate value
Figure 18: Top discovery stage deals that exceeds $1 billion in deal value since 2012
Figure 19: Most active discovery stage dealmakers since 2012