Cure-Backed Securities: The Investor Return Problem Gene Therapy Finance Hasn't Solved
A new paper published in Gene Therapy this week proposes securitizing 30-year performance-based annuities to solve the upfront payment problem
Company of the Week: Slate Medicines
Company Overview and Technology
Slate Medicines, Inc. is a privately-held, clinical-stage biotech company headquartered in Raleigh, North Carolina, focused on
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
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
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'
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
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,
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,
Company of the week: Harbour BioMed
Company Overview and Technology
Harbour BioMed ("HBM"; HKEX: 02142) is a global biopharmaceutical company headquartered across Shanghai, Natick
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.
