Understanding the hybrid instrument between a true royalty sale and traditional debt—how it works, why it matters in the capital stack, and what the Royalty Pharma–Zymeworks deal reveals about the market's evolution.

Understanding the mechanics of trigger-based provisions in royalty monetizations and structured financings.

The week of February 22–26, 2026 recorded approximately $16.0 billion in announced and completed biotech and healthcare transaction

When Immunic filed its 8-K on February 13, 2026, the headline was a $200 million private placement led by BVF

Company of the week: Suzhou Ribo Life Science Company Overview and Technology Suzhou Ribo Life Science (Ribo, HKEX: 06938) is

Overview and Investment Focus Flagship Pioneering is not a venture capital firm in the traditional sense — it is a venture

When ADC Therapeutics filed an 8-K on February 23, 2026, the headline was the dramatic reduction of its change-of-control payment

When the IRS informed Amgen in 2021 that it owed $10.7 billion in back taxes and penalties—the largest

Biosimilar companies are capital-intensive, margin-constrained, and acutely exposed to competitive timing risk. They spend $100 million to $250 million developing

The week of February 15–21, 2026 recorded approximately $16.5 billion in aggregate announced transaction value across 35+ discrete events.