Women's Health Phase 1 Deal Benchmarks (2026)

Median upfront of $93M with total deal values reaching $1.2B.

Median Upfront

$93M

Total Deal Value

$819M

Royalty Range

5.6%–11.3%

Territory Multiplier

Understanding Women's Health Deal Benchmarks at Phase 1

Phase 1 Women's Health licensing deals command a median upfront payment of $93M, with values ranging from $42M at the low end to $145M for premium assets. These benchmarks reflect the risk-adjusted value of clinical-stage assets in the women's health therapeutic area, where development costs, competitive dynamics, and market potential all factor into deal pricing.

Total deal values — including milestones for development, regulatory, and commercial achievements — range from $450M to $1.2B, with a median of $819M. Royalty rates for women's health assets at this stage typically fall between 5.6% and 11.3% of net sales, reflecting the balance between licensor value contribution and licensee commercialization investment.

The Global territory applies a 1x multiplier to base deal economics. This accounts for market size, regulatory complexity, pricing environment, and competitive landscape differences across geographies. Licensors negotiating global rights should calibrate upfront expectations and milestone structures accordingly.

PRO

Full Market Analysis

Detailed deal economics, territory impact analysis, and royalty structure breakdown.

We'll email you the full benchmark data for this page. No spam, unsubscribe anytime.

Unlock Everything — $299/mo Pro

7-day money-back guarantee · Cancel anytime

Full Benchmark Data

PRO

Full Benchmark Table

Low, median, and high ranges for upfront payments, total deal values, and royalty rates.

We'll email you the full benchmark data for this page. No spam, unsubscribe anytime.

Unlock Everything — $299/mo Pro

7-day money-back guarantee · Cancel anytime

Comparable Deals

Year	Licensor	Licensee	Upfront	Total Value	Deal Type
2022	Myovant Sciences	Sumitomo Pharma	$3.0B	$3.0B	acquisition
2022	TherapeuticsMD	Mayne Pharma	$173M	$173M	acquisition
2022	Organon	Forendo Pharma	$75M	$900M	option
2023	ObsEva	XOMA/Kissei	$55M	$350M	licensing
2023	Dare Bioscience	Bayer	$20M	$300M	licensing
2022	Evofem Biosciences	N/A (standalone)	$0M	$80M	licensing
2023	Mayne Pharma	N/A (standalone)	$0M	$350M	licensing
2024	Biora Therapeutics	N/A (standalone)	$0M	$150M	licensing
2024	Femasys	N/A (standalone)	$0M	$60M	licensing
2023	Sage Therapeutics	Biogen	$875M	$1.5B	collaboration

PRO

See All Comparable Deals

View 10 comparable Women's Health transactions with upfront payments, total values, and deal structures.

We'll email you the full benchmark data for this page. No spam, unsubscribe anytime.

Unlock Everything — $299/mo Pro

7-day money-back guarantee · Cancel anytime

Frequently Asked Questions

What is the average upfront payment for Phase 1 Women's Health deals?

The median upfront payment for Phase 1 Women's Health licensing deals is $93M, based on our analysis of comparable transactions. Values range from $42M for early-stage or less differentiated assets up to $145M for premium programs with strong clinical data or first-in-class mechanisms.

How does Global territory affect Women's Health deal value?

Global rights carry a 1x multiplier relative to base deal economics. This means global women's health deals are valued at a discount compared to single-country rights, reflecting the combined market opportunity, regulatory pathway, and competitive dynamics of the territory.

What royalty rates are typical for Phase 1 Women's Health licensing?

Royalty rates for Phase 1 women's health assets typically range from 5.6% to 11.3% of net sales. The exact rate depends on the licensor's contribution (IP, clinical data, manufacturing), deal structure (exclusive vs. co-exclusive), and the licensee's commercialization investment. Higher royalties often correspond to lower upfront payments, and vice versa.

PRO

More Expert Insights

Territory impact analysis, royalty negotiation strategies, and deal structure guidance.

We'll email you the full benchmark data for this page. No spam, unsubscribe anytime.

Unlock Everything — $299/mo Pro

7-day money-back guarantee · Cancel anytime

Related Benchmarks

$38M upfront

Women's Health · Preclinical · Global

$326M upfront

Women's Health · Phase 2 · Global

$865M upfront

Women's Health · Phase 3 · Global

$2.4B upfront

Women's Health · Approved · Global

$90M upfront

Oncology · Phase 1 · Global

$76M upfront

Neurology/CNS · Phase 1 · Global

$163M upfront

Immunology · Phase 1 · Global

$229M upfront

Metabolic/Obesity · Phase 1 · Global

Explore More

All Women's Health Deals

View full therapeutic area benchmarks

Licensing Benchmarks Guide

2026 data from 1,900+ deals

Royalty Rate Benchmarks

Negotiation strategies by phase & modality

Run Custom Analysis

Pre-filled with Women's Health · Phase 1

Run Your Own Benchmark

These benchmarks are starting points. Get a customized valuation for your specific asset, indication, and deal structure.

Open Deal Calculator

Cite This Data

APA

Ambrosia Ventures. (2026). Women's Health Phase 1 Deal Benchmarks (2026). Retrieved from https://calculator.ambrosiaventures.co/data/womens-health-phase-1-deals-global

HTML

<a href="https://calculator.ambrosiaventures.co/data/womens-health-phase-1-deals-global">Women's Health Phase 1 Deal Benchmarks (2026)</a> — Ambrosia Ventures (2026)

Embed Chart

Data sourced from 1,900+ verified biopharma transactions. Updated monthly.

Metric	Low	Median	High
Upfront Payment	$42M	$93M	$145M
Total Deal Value	$450M	$819M	$1.2B
Royalty Rate	5.6%	—	11.3%