Relief Therapeutics Holding AG (RLFTF)

[changes_iv]

Platform deals for preclinical or discovery-stage assets were also in evidence. Gilead’s buy-in to Galapagos' R&D engine is the biggest example, but its deals with Nurix and Goldfinch were also focused on tapping into their discovery expertise to yield multiple candidates, in protein degradation and kidney disease, respectively.

https://www.fiercebiotech.com/special-report/top-15-biopharma-licensing-deals-2019

It is quite common for boutique pharma companies, biotech firms, and university labs to license their intellectual property (a new compound) to large pharmaceutical companies. In such cases, the big pharma companies finance and manage the R&D process and, if successful, market the drugs. In exchange for use of their intellectual property, the outlicensing organizations receive licensing contracts that promise some combination of fixed payments, event-specific milestone payments, and revenue- or profit-based royalties.>>>>>>>>>>>>>>>>>>>>>>
The authors show how to estimate the expected present value of the future cash flows promised by such licensing deals. The complicating factor in such valuations is that the licensing contracts are essentially derivative contracts written on drugs in development, which as the authors showed in a paper published in this journal a year ago, are themselves compound options on marketed drugs. The authors use the valuation example from the earlier paper, along with a proposed licensing deal, and walk the reader through the process of valuing the licensing deal's cash flows.

https://doi.org/10.1111/jacf.12252

With the announcement of a mega-merger in January—Bristol-Myers Squibb (BMS)’s $74 billion acquisition of Celgene—2019 was set early on to be a big year for dealmaking. Licensing deals were also plentiful, with the top 10 licensing deals in 9 months of 2019 having a total disclosed deal value of $34 billion, an increase of 10% from the $31 billion in the corresponding period in 2018. In this feature, we highlight some of the major mergers and acquisitions (M&As) and licensing deals in 2019, with the help of data and analysis from Clarivate Analytics...

https://www.nature.com/articles/d43747-020-00828-4

Biopharma deals of 2019