Latest

22
Jan
Company of the week: Proxima Biosciences

Company of the week: Proxima Biosciences

Biotechnology startups often promise to "drug the undruggable," but few have embraced that challenge as boldly as Proxima Biosciences.
21 min read
21
Jan
Patent Life and Loss of Exclusivity: Modeling the Royalty Cliff

Patent Life and Loss of Exclusivity: Modeling the Royalty Cliff

Patent expiration is the single largest value driver in pharmaceutical royalty valuation, yet most market participants use oversimplified assumptions. Rigorous
13 min read
20
Jan
Gross-to-Net Modeling for Pharmaceutical Royalties: From List Price to Royalty Payment

Gross-to-Net Modeling for Pharmaceutical Royalties: From List Price to Royalty Payment

The GTN Landscape: A $356 Billion Problem Enters a New Era "Gross-to-net" (GTN) refers to the difference between
13 min read
19
Jan
In Silico Development in the Medical Device Industry

In Silico Development in the Medical Device Industry

In Silico Medical Device Regulation Reaches Global Inflection Point The regulatory landscape for computational modeling in medical device development has
9 min read
18
Jan
The Weekly Term Sheet (2026-W02)

The Weekly Term Sheet (2026-W02)

The second week of 2026—dominated by the 44th Annual J.P. Morgan Healthcare Conference in San Francisco—delivered over $12 billion in announced transaction value despite the conspicuous absence of any transformational M&A
19 min read
17
Jan
Stacking Royalty Financings: Priority Waterfalls, Leakage Risks, and Synthetic Seniority

Stacking Royalty Financings: Priority Waterfalls, Leakage Risks, and Synthetic Seniority

Royalty financings in pharma and biotech are increasingly "stacked" – multiple monetizations and debt facilities layered on identical royalty
10 min read
16
Jan
Fund of the week: Droia Ventures

Fund of the week: Droia Ventures

Executive Summary Droia Ventures is a Belgium-based venture capital firm that has established itself as one of Europe's
11 min read
15
Jan
DISCO Pharmaceuticals: Grooving Through the Cancer Surfaceome

DISCO Pharmaceuticals: Grooving Through the Cancer Surfaceome

No, they're not selling disco balls—but DISCO Pharmaceuticals certainly knows how to shine in biotech. The company
22 min read
14
Jan
Repayment Caps in Pharmaceutical Royalty Transactions: A Definitive Reference Guide

Repayment Caps in Pharmaceutical Royalty Transactions: A Definitive Reference Guide

Repayment caps have emerged as the defining structural element of synthetic royalty transactions, appearing in 72% of deals from 2019–
20 min read
13
Jan
University Technology Transfer: How the US and Europe Compete for Pharmaceutical Royalties

University Technology Transfer: How the US and Europe Compete for Pharmaceutical Royalties

The commercialization of academic research has become one of the most consequential—yet least understood—dynamics in global pharmaceutical markets.
24 min read