Deal Structures
CVR (Contingent Value Right)
A tradeable security that entitles holders to receive payments upon achievement of specified milestones, often used in M&A transactions to bridge valuation gaps.
Related Terms
Earnout
Post-closing payments in an M&A transaction contingent on achieving specified targets. Similar to milestones but typically used in acquisition contexts.
Milestone Payment
Contingent payments triggered by the achievement of specific development, regulatory, or commercial events. Milestones align incentives and reduce risk for licensees.
See How CVR (Contingent Value Right) Affects Deal Economics
Model deal terms with real benchmark data from 3,000+ biopharma transactions.