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.
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
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&
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
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-W05)
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
