Company of the week: SpyGlass Pharma
Company Overview and Technology
SpyGlass Pharma (sometimes referred to as SpyGlass Bio) is a late-stage ophthalmic biotechnology company focused on
The Landscape of Vaccine Royalties and Royalty Financing
Vaccine royalties have matured into a distinct sub-asset class, driven by blockbuster revenues from HPV, pneumococcal, shingles, and mRNA vaccines.
AI Vendors Want Drug Royalties: Outcome-Based Licensing, IP Mechanisms, and the Case for Royalty Financing
OpenAI has publicly floated a revenue model in which it would subsidize AI compute for drug discovery firms in exchange
Geography of the Deal: How Territory Shapes Pharmaceutical Royalty Financing
Every royalty transaction carries a map. Before the discount rate is set, before the cap structure is negotiated, before the first dollar changes hands, the most consequential question in pharmaceutical royalty financing is deceptively simple: where does the money come from?
The Weekly Term Sheet (2026-W06)
The first week of February 2026 delivered an active transaction period. Four IPOs collectively raised $987 million — the busiest single
Joint Clinical Assessment, National HTA, and Their Integration into Royalty Financing Models in Europe
How the EU's harmonised clinical assessment framework is changing the mathematics of pharmaceutical royalty underwriting
Fund of the week: Bertelsmann Healthcare Investments (BHI)
Overview and Investment Focus
Bertelsmann Healthcare Investments (BHI) is a dedicated healthcare venture fund launched in late January 2026 by
Company of the week: TRex Bio - Decoding Regulatory T Cells for Autoimmune Therapies
What has tiny arms but might revolutionize autoimmune treatment? No, not that T-Rex—this one's all about regulatory T cells, and its reach into immunology is anything but short.
The Role of Arrow Declarations in Pharmaceutical Royalty Transactions – UK, EU, and US Perspectives
Introduction
Arrow declarations have emerged as a distinctive mechanism in patent litigation, particularly within the UK pharmaceutical sector, with significant
Equity Kickers in Life Sciences Financing: Warrant Structures, Deal Mechanics
Equity kickers—warrants, options, convertible features, or other equity-linked instruments bundled with debt or investment transactions—serve as return enhancers