Royalty Deferral Structures in Pharmaceutical and Biotechnology Financing
Introduction
Royalty deferral structures represent sophisticated financing and licensing arrangements that fundamentally alter the timing and conditionality of royalty payments
The Weekly Term Sheet (42)
Biotech and Pharmaceutical Deals: October 13-19, 2025
The week of October 13-19, 2025 marked one of the most active periods
The great divide: Why royalty financing conquered North America but struggles everywhere else
Royalty financing in biotech and healthcare has exploded into a $5-6 billion annual market in North America, with transactions growing
Fund of the Week: Blackstone Life Sciences
Background and Evolution
Blackstone Life Sciences (BXLS) is the life-sciences investment arm of Blackstone, the world's largest alternative
Company of the week Soufflé Therapeutics
A delicate French dessert must rise perfectly under precise conditions. In biotechnology, Soufflé Therapeutics — a newly unveiled venture named after
Variable Capital Companies (VCCs) in Singapore's Healthcare and Life Sciences Investments
Introduction
The Variable Capital Company (VCC) represents a transformative development in Singapore's fund management landscape, particularly for healthcare
Special Purpose Vehicles in Pharma & Biotech – An In-Depth Explainer
Introduction
Special Purpose Vehicles (SPVs) play a pivotal role in the pharmaceutical and biotechnology sectors, facilitating innovative financing and structuring
Understanding Bankruptcy Remoteness in Biotech Royalty Financing Deals
Bankruptcy remoteness is a crucial concept in structuring financial deals — especially royalty financing transactions in the biotechnology and pharmaceutical industry.
The Weekly Term Sheet (41)
The week saw concentrated M&A activity focused on MASH and neurological assets totalling over $10 billion in deal
Milestones and Mirages: Biotech's Big-Deal Delusions
The Allure of the "Up To" Deal
Every so often, a biotech startup announces a blockbuster partnership with
