Phase 2 Neurology Deal Benchmarks

The neurology landscape at the phase 2 stage is characterized by moderate competitive intensity with significant unmet need in neurodegenerative indications. Development milestones average $890M, regulatory milestones contribute $971M, and commercial milestones reach $836M. Disease-modifying therapies and novel CNS delivery platforms are attracting increasing licensee interest following breakthroughs in amyloid-targeted approaches.

Royalty rates for phase 2 neurology deals range from 12.4% to 19.8% at the base tier, with high-tier escalation to 23.8%. Mid-stage royalties reflect the balance of de-risking achieved and remaining development investment.