Vertex
Pays vs peer median
×1.19
+19% premium
Sample
15
high confidence
Last refreshed
2026-04-13
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×1.19 | 15 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| approved | ×1.40 | 5 |
| phase 3 | ×0.82 | 3 |
| discovery | ×0.91 | 3 |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | SIRPα-001 | Revolution Medicines | SCLC | preclinical | $120M | $1.5B |
| 2025 | CD38-201 | Zymeworks | Multiple Myeloma | preclinical | $92M | $721M |
| 2025 | SIRPα-101 | BioNTech | Breast (HER2+) | approved | $2.6B | $9.7B |
| 2025 | KIT-301 | Hookipa Pharma | Bladder | preclinical | $61M | $936M |
| 2025 | Orexin-nib | Intra-Cellular Therapies | ALS | discovery | $10M | $109M |
| 2025 | Anti-SHP2-001 | CureVac | Mesothelioma | discovery | $18M | $225M |
| 2025 | LIV-1 | Bicycle Therapeutics | Breast (HR+) | discovery | $32M | $328M |
| 2025 | Anti-Tau-101 | Wave Life Sciences | PTSD | discovery | $42M | $802M |
| 2025 | CLDN18.2-201 | Arrowhead Pharmaceuticals | Follicular Lymphoma | phase_3 | $494M | $2.9B |
| 2025 | KIT-301 | Xencor | MPN | phase_2 | $201M | $1.7B |
| 2025 | VEGFR-301 | PMV Pharmaceuticals | Bladder | phase_3 | $764M | $5.6B |
| 2025 | RET-201 | Alphamab Oncology | Ovarian | preclinical | — | $1.2B |
| 2025 | OX40-101 | Nektar Therapeutics | Mantle Cell Lymphoma | discovery | $51M | $633M |
| 2025 | ALK-tinib | Relay Therapeutics | Sarcoma | phase_1 | $65M | $758M |
| 2025 | TIM-3-mab | Genmab | Pancreatic | phase_2 | — | $861M |
How this is computed
For each Vertex deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 15 disclosed deal premiums vs. peer medians. Raw premium 1.191, clamped to [0.7, 1.5].