About p05.org

p05.org publishes daily structural analysis of the pharmaceutical royalty market: deal mechanics, legal events, fund positioning, and the primary sources underneath them. The name is the significance threshold, p < 0.05, the line between noise and a result worth acting on. That is the test applied to every issue.

The flagship is the Weekly Term Sheet, published continuously since January 2025, alongside explainers on royalty structures, the Fund of the Week and Company of the Week series, and longer pieces on the legal and capital-markets machinery of the asset class. Coverage is market-neutral by design. Royalty Pharma, HCRx, Sagard, Ligand, and every other participant are reported on the same terms, because the analysis is only useful if it is straight.

Who writes it

p05.org is written by Sebastian Gensior, founder and CEO of Capital for Cures AG in Zurich.

Sebastian spent fifteen-plus years in pharmaceutical business development and market access at Abbott and Roche across EMEA. Capital for Cures finds and values pharmaceutical royalty streams, with a particular focus on the smaller streams that sit below the radar of the large royalty funds. The work is built on a proprietary database of 50,000-plus transactions, including private-company royalty data that exists in no public filing.

p05.org is a publication, not investment research. Nothing on this site is investment, legal, or financial advice, and the author is not a registered investment adviser. Coverage of the market is independent, and p05.org does not promote any specific transaction.

Get in touch

If you hold a pharmaceutical royalty and want a view on what it is worth, or you just want to talk about the market, email sebastian@capitalforcures.com. You can also find me on LinkedIn.