Latest
12
Mar
Fund of the Week: Dementia Discovery Fund
Overview and Investment Focus
The Dementia Discovery Fund (DDF), managed by SV Health Investors, is a transatlantic venture capital fund
7 min read
11
Mar
Reverse Morris Trusts in Pharma: When Tax Engineering Meets Royalty Reality
The Reverse Morris Trust has become Big Pharma's favourite instrument for shedding non-core assets without triggering billions in
20 min read
10
Mar
Orphan Drug Royalties: The Economics of Small Populations in Pharmaceutical Royalty Financing
In December 2025, Royalty Pharma agreed to pay $275 million for a 9.25% synthetic royalty on Denali Therapeutics'
15 min read
09
Mar
Japan's Pharmaceutical Royalty Market: Will We See More Assets Out of Japan?
The conversation about Asia-Pacific pharmaceutical royalties tends to start and end with China. The out-licensing volume data from 2025 makes
16 min read
08
Mar
The Weekly Term Sheet (2026-W10)
Visual Summary
Week in Numbers: $16.6B total disclosed value, $9.3B M&A, $295M+ royalty and non-dilutive capital,
121 min read
07
Mar
China's Royalty Market and VIE Structures: Navigating Enforceability in a $130B Opportunity
On March 2, 2026, Royalty Pharma announced the appointment of Kenneth Sun as Senior Vice President and Head of Asia,
9 min read
06
Mar
Company of the week: Harbour BioMed
Company Overview and Technology
Harbour BioMed ("HBM"; HKEX: 02142) is a global biopharmaceutical company headquartered across Shanghai, Natick
20 min read
05
Mar
Fund of the Week: Blue Owl Capital's Life Sciences Platform
A $2.5 billion pharma royalty book, a $157.8 billion credit platform, and a private credit crisis that has separated the two. What the fund architecture reveals.
15 min read
04
Mar
Private Credit Under Stress: Implications for Pharmaceutical Royalty Funds
Redemption freezes at Blue Owl, record outflows at Blackstone's BCRED, and a wave of withdrawals across the industry&
9 min read
03
Mar
Non-Recourse Royalty-Backed Notes in Pharmaceutical Financing
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.
14 min read