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Discovery & Preclinical License Deals: What’s realistic?

We have performed an analysis of 22 recent early-stage license deals where Avance was involved in the structuring and/or valuation.

  The US$ 1 billion drug.
A fairytale.

It takes US$ 802 Mio to take one drug successfully to market. This was Joseph DiMasi’s central message in his article in 2003 about R&D costs. This number has been cited many times and has been abused in many ways. US$ 802 Mio should discourage any rational investor from investing into drug development. In 2007 DiMasi rerun his study with new data, especially with a new set of success rates.



Workshop on license contract valuation and negotiation.
Mont Tremblant, CANADA

Professional valuation in your hands

The leading valuation solution just got better. Avance releases ri:val 2.3 featuring:

  • Advanced sales curve modelling.
  • Absolute and relative sales input.
  • Optional phase 2a / 2b split.
  • 5 royalty tiers.
  • Royalties after patent expiry.
  • Three way licensing agreements.
  • License contract value development.
  • 2006 drug development data.


The guide to valuation in pharma and biotech. Become an expert yourself.

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