Latest
19
Feb
Fund of the week: NKF Innovation Fund
How the National Kidney Foundation is betting venture philanthropy can transform kidney care — and what could go wrong.
17 min read
18
Feb
Step-In Rights in Pharmaceutical Licensing and Royalty Transactions
Step-in rights are contractual provisions allowing one party to assume operational control when the counterparty fails to perform. In pharmaceutical
14 min read
17
Feb
Valuing Data the Way Wall Street Values Drug Royalties
How the analytical tools of pharmaceutical royalty finance — risk-adjusted NPV, probability weighting, decay curves, and defensibility analysis — translate directly to pricing healthcare data assets. And why the market may be mispricing them right now.
16 min read
16
Feb
Anything You Say to a Chatbot May Be Used Against You
A court ruling in New York has settled a question that most executives never thought to ask. The answer should worry anyone who has ever pasted something sensitive into Claude or ChatGPT.
7 min read
15
Feb
The Weekly Term Sheet (2026-W06)
Biotech and Healthcare Transactions: Week of February 8–14, 2026
The week of February 8–14, 2026 recorded over $25
29 min read
14
Feb
Royalties That Wake Up: How Change-of-Control Triggers Reshape Pharma Deal Economics
When Innoviva moved to acquire La Jolla Pharmaceutical in 2022, the transaction revealed a hidden tripwire that many biotech M&
23 min read
13
Feb
Fund of the week: Epidarex Capital
Overview of Epidarex Capital and Strategy
Epidarex Capital is a transatlantic venture capital firm focused on early-stage life science and
30 min read
12
Feb
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
33 min read
11
Feb
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.
10 min read
10
Feb
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
20 min read