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Acne — Deal Benchmarks & Valuation

Median Upfront
$306M
Range: $168M - $439M
Total Deal Value
$1.6B
Range: $1.1B - $2.2B
Royalty Rate
6.1% - 12.1%
Tiered up to 16.1%
Dev Milestones
$269M
Range: $181M - $357M

Market Analysis

Acne is one of the most actively transacted indications in dermatology licensing. Phase 2 deals for acne carry a median total deal value of $1.6B, with upfront payments ranging from $168M to $439M. The recommended deal structure allocates approximately 19% to upfront payments and 81% to milestones.

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Frequently Asked Questions

What are typical deal terms for acne licensing?
Phase 2 acne licensing deals average $306M in upfront payments with $1.6B total deal value. The 19/81 upfront/milestone split reflects the risk profile at this clinical stage.
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