Royalty Financing Terms and Agreements in Pharma, Biotech and Diagnostics

The Royalty Financing Terms and Agreements in Pharma, Biotech and Diagnostics report provides detailed understanding and analysis of how and why companies enter royalty financing deals.

• Comprehensive directory of royalty financing deals since 2007
• Royalty financing contract documents
• Royalty financing agreement terms
• Royalty financing agreement structure
• Top royalty financing deals by value
• Most active Royalty financing dealmaker

The Royalty Financing Terms and Agreements report provides comprehensive understanding and unprecedented access to the royalty financing agreements entered into by the worlds leading biopharma companies.

The report provides a detailed understand and analysis of how and why companies enter royalty financing partnering deals.

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 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 2007. 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 2007, 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 2007 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.

Report scope

Royalty Financing Terms and Agreements in Pharma, Biotech and Diagnostics 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.

Royalty Financing Agreements in Pharma, Biotech and Diagnostics includes:

• Trends in royalty financing dealmaking in the biopharma industry since 2007
• Analysis of royalty financing deal structure
• Case studies of real-life royalty financing deals
• Comprehensive listing of royalty financing deals since 2007
• Access to royalty financing contract documents
• The leading royalty financing deals by value since 2007
• Most active royalty financing dealmakers since 2007
• The leading royalty financing partnering resources

In Royalty Financing Terms and Agreements in Pharma, Biotech and Diagnostics, available contracts are listed by:

• Company A-Z
• Headline value
• 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.

Royalty Financing Terms and Agreements provides the reader with the following key benefits:

• In-depth understanding of royalty financing partnering deal trends since 2007
• Analysis of the structure of royalty financing partnering agreements with numerous real life case studies
• Comprehensive listing of all royalty financing deals since 2007, 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

Table of Contents

Executive Summary   

Chapter 1 – Introduction

Chapter 2 – Trends in royalty financing dealmaking
2.1. Introduction
2.2. Difference between royalty and revenue financing
2.3. Trends in royalty financing deals since 2007
2.4. Reasons for entering into royalty financing partnering deals
2.5 The emergence of royalty asset purchase deals
2.4.1. Primary players in royalty asset purchase deals
2.4.2. Recent royalty asset purchase deals
2.4.3. The role of bigpharma in royalty buyback
2.4.4. The future of royalty asset purchase deals

Chapter 3 – Overview of royalty financing structure
3.1. Introduction
3.2. Anatomy of a royalty asset purchase agreement
3.3. Example royalty financing agreements
3.3.1. Case study 1: Emory University – Gilead Sciences – Royalty Pharma – July 2005
3.3.2. Case study 2: Enzon – Drug Royalty – August 2007
3.3.3. Case study 3: Royalty asset: DRI Capital – NPS Pharmaceuticals – July 2007
3.3.4. Case study 4: Royalty asset: TPG – CV Therapeutics – April 2008

Chapter 4 – Leading royalty financing deals
4.1. Introduction
4.2. Top royalty financing deals by value
4.3. Top revenue financing deals by value
4.4. Most active royalty financing dealmakers

Chapter 5 – Royalty financing contract documents 2007-2012           
5.1. Introduction
5.2. Company A-Z

Chapter 6 – Royalty financing agreement directory 2007-2012
6.1. Introduction
6.2. Company A-Z
6.3. By therapy area

Appendices
Appendix 1 – Royalty financing references
Appendix 2 – Resources
Appendix 3 – Deal type definitions
Appendix 4 – Example royalty financing contract document
About Wildwood Ventures
Current Partnering
Current Agreements
Recent report titles from CurrentPartnering

List of Figures

Figure 1: Definition of royalty assets
Figure 2: Trends in royalty financing deal announcements, 2007-2012
Figure 3: Trends in revenue financing or ‘synthetic royalty’ deal announcements, 2007-2012
Figure 4: Leading royalty asset investors
Figure 5: Recent royalty asset purchase agreements
Figure 6: Components of the royalty asset purchase deal structure
Figure 7: Top royalty financing deals by value since 2007
Figure 8: Top revenue financing deals by value since 2007
Figure 9: Most active royalty financing dealmakers 2007-2012
Figure 10: Online partnering resources
Figure 11: Deal type definitions
Figure 12: Royalty financing agreement for Qutenza – April 2010