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Dry AMD / Geographic Atrophy — Deal Benchmarks & Valuation

Median Upfront
$682M
Range: $376M - $975M
Total Deal Value
$3.2B
Range: $2.1B - $4.3B
Royalty Rate
9.9% - 19.7%
Tiered up to 23.7%
Dev Milestones
$506M
Range: $342M - $672M

Market Analysis

Dry AMD / Geographic Atrophy is one of the most actively transacted indications in ophthalmology licensing. Phase 2 deals for dry amd / geographic atrophy carry a median total deal value of $3.2B, with upfront payments ranging from $376M to $975M. The recommended deal structure allocates approximately 21% to upfront payments and 79% to milestones.

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Frequently Asked Questions

What are typical deal terms for dry amd / geographic atrophy licensing?
Phase 2 dry amd / geographic atrophy licensing deals average $682M in upfront payments with $3.2B total deal value. The 21/79 upfront/milestone split reflects the risk profile at this clinical stage.
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