Oncology Phase 2 Deal Benchmarks — Ex-US (2026)
Median upfront of $116M with total deal values reaching $995M in Ex-US territory.
Median Upfront
$116M
Total Deal Value
$737M
Royalty Range
9.3%–15.2%
Territory Multiplier
0.45x
Understanding Oncology Deal Benchmarks at Phase 2
Phase 2 Oncology licensing deals in Ex-US territory command a median upfront payment of $116M, with values ranging from $65M at the low end to $164M for premium assets. These benchmarks reflect the risk-adjusted value of clinical-stage assets in the oncology therapeutic area, where development costs, competitive dynamics, and market potential all factor into deal pricing.
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Frequently Asked Questions
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Related Benchmarks
$15M upfront
Oncology · Preclinical · Ex-US
$40M upfront
Oncology · Phase 1 · Ex-US
$324M upfront
Oncology · Phase 3 · Ex-US
$934M upfront
Oncology · Approved · Ex-US
$105M upfront
Neurology/CNS · Phase 2 · Ex-US
$246M upfront
Immunology · Phase 2 · Ex-US
$265M upfront
Metabolic/Obesity · Phase 2 · Ex-US
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Oncology · Phase 2 · Global
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Ambrosia Ventures. (2026). Oncology Phase 2 Deal Benchmarks — Ex-US (2026). Retrieved from https://calculator.ambrosiaventures.co/data/oncology-phase-2-deals-ex-us
<a href="https://calculator.ambrosiaventures.co/data/oncology-phase-2-deals-ex-us">Oncology Phase 2 Deal Benchmarks — Ex-US (2026)</a> — Ambrosia Ventures (2026)
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Data sourced from 1,900+ verified biopharma transactions. Updated monthly.