When Innoviva moved to acquire La Jolla Pharmaceutical in 2022, the transaction revealed a hidden tripwire that many biotech M&A participants only discover when it's too late. Healthcare Royalty Partners, which had provided La Jolla with $125 million in exchange for tiered royalties on GIAPREZA, sent

Overview of Epidarex Capital and Strategy Epidarex Capital is a transatlantic venture capital firm focused on early-stage life science and health technology companies in "under-ventured" research hubs across the UK and the US. Founded in 2010 and co-headquartered in Edinburgh (UK) and Bethesda, MD (USA)

Company Overview and Technology SpyGlass Pharma (sometimes referred to as SpyGlass Bio) is a late-stage ophthalmic biotechnology company focused on sustained drug delivery for chronic eye diseases. Its flagship innovation is the Bimatoprost Drug Implant-Intraocular Lens (BIM-IOL) System, which integrates a glaucoma medication (bimatoprost) into a standard

Vaccine royalties have matured into a distinct sub-asset class, driven by blockbuster revenues from HPV, pneumococcal, shingles, and mRNA vaccines.

OpenAI has publicly floated a revenue model in which it would subsidize AI compute for drug discovery firms in exchange for royalties on any resulting products. No deals exist yet. But the proposal — better understood as outcome-based licensing than simple pricing — has surfaced structural questions that matter to anyone

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 first week of February 2026 delivered an active transaction period. Four IPOs collectively raised $987 million — the busiest single week for biotech public offerings in roughly twelve months. Alongside the IPO burst, more than a dozen M&A transactions were announced or closed, several high-value cross-border

How the EU's harmonised clinical assessment framework is changing the mathematics of pharmaceutical royalty underwriting

Overview and Investment Focus Bertelsmann Healthcare Investments (BHI) is a dedicated healthcare venture fund launched in late January 2026 by Bertelsmann SE & Co. KGaA's investment arm. It consolidates Bertelsmann's prior healthcare venture activities into an independent, financial-first fund with a transatlantic focus (North America

What has tiny arms but might revolutionize autoimmune treatment? No, not that T-Rex—this one's all about regulatory T cells, and its reach into immunology is anything but short.