The Global Option and Evaluation Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2012-2018 report.
This report provides details of the latest option and evaluation agreements announced in the pharmaceutical, biotechnology and diagnostic sectors. Fully revised and updated, the report provides details of option and evaluation agreements from 2012 to 2018.
There are two major forms of deal term that allow a party to a deal to secure rights to an asset subject to a future event namely, option and evaluation.
Evaluation agreements allow a party to the deal to obtain rights to a technology or compound, subject to a period of time to evaluate the quality, scope and applicability of the technology to its intended endpoint.Normally the technology is at an early stage and/or unproven and the partnering companywishes to assess the technology as part of the due diligence process in advance of signing a long term licensing agreement.
Evaluation agreements have been a mainstay of technology licensing from the earliest days.
An option agreement differs in that the option is often an integral part of an agreement already entered by the parties, providing the party with the option right to retain or extend certain rights to the technology already partnered.
Option agreements are becoming increasingly popular as they create additional flexibility within a deal for additional rights that the parties do notwish to commit at the outset of the agreement.
This report focuses on option and evaluation agreements and clauses within broader agreements between big pharma-big pharma, big pharma – smaller company, and smaller company-smaller company, providing a detailed insight into all such deals.
The report provides a detailed understanding and analysis of how and why companies enter option and evaluation deals. The majority of deals are multicomponent whereby the licensor retains either a option and evaluation right to the resultant product of the research collaboration. There are also numerous pure option and evaluation deals whereby the products originator takes on a partner in order to advance the product or compound to a point where the licensee might seek to proceed to a licensing deal.
Understanding the flexibility of a prospective partner’s negotiated deals terms provides critical insight into the negotiation process in terms of what you can expect to achieve during the negotiation of terms. Whilst many smaller companies will be seeking details of the payments clauses, the devil is in the detail in terms of how payments are triggered – contract documents provide this insight where press releases and databases do not.
This report contains a comprehensive listing of all option and evaluation deals announced since 2012 as recorded in the Current Agreements deals and alliances database, including financial terms where available, plus links to online copies of actual option and evaluation contract documents as submitted to the Securities Exchange Commission by companies and their partners.
Contract documents provide the answers to numerous questions about a prospective partner’s flexibility on a wide range of important issues, many of which will have a significant impact on each party’s ability to derive value from the deal.
The initial chapters of this report provide an orientation of option and evaluation dealmaking and business activities. Chapter 1 provides an introduction to the report, whilst chapter 2 provides an analysis of the trends in option and evaluation as well as a discussion on the merits of the type of deal.
Chapter 3 provides an overview of the structure of option and evaluation deals. The chapter includes numerous case studies to enable understanding of both pure option and evaluation deals and multicomponent deals where option and evaluation forms a part.
Chapter 4 provides a review of the leading option and evaluation deals since 2012. Deals are listed by headline value, signed by big pharma and big biotech and most active of all biopharma companies. Where the deal has an agreement contract published at the SEC a link provides online access to the contract via the Current Agreements deals and alliances database.
Chapter 5 provides a comprehensive listing of the top 50 most active option and evaluation dealmaker companies. Each deal title links via Current Agreements deals and alliances database to an online version of the full deal record, and where available, the actual contract document, providing easy access to each deal record on demand.
Chapter 6 provides a comprehensive and detailed review of option and evaluation deals signed and announced since 2012 where a contract document is available. Contract documents provide an indepth insight into the actual deal terms agreed between the parties with respect to the option and evaluation deal.
In addition the report includes a series of appendices containing a comprehensive listing of all option and evaluation deals announced since 2012.
Each listing is organized as an appendix by company A-Z, stage of development at signing, and therapeutic area. Each deal title links via hyperlink to an online version of the deal record including, where available, the actual contract document.
The report includes deals announced by hundreds of life science companies including big pharma such as Abbott, Abbvie, Actavis, Amgen, Astellas, AstraZeneca, Baxter, Bayer, Biogen Idec, BMS, Celgene, Eisai, Eli Lilly, Gilead, GSK, J&J, Kyowa Hakko, Merck, Mitsubishi, Mylan, Novartis, Pfizer, Roche, Sanofi, Shire, Takeda, Teva, and Valeant, amongst many others.
The report also includes numerous tables and figures that illustrate the trends and activities in option and evaluation dealmaking since 2012.
In conclusion, this report provides everything a prospective dealmaker needs to know about option and evaluation alliances.
Global Option and Evaluation Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2012-2018 provides the reader with the following key benefits:
Global Option and Evaluation Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2012-2018 is intended to provide the reader with an in-depth understanding of the option and evaluation trends and structure of deals entered into by leading biopharma companies worldwide.
Global Option and Evaluation Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2012-2018 includes:
In Global Option and Evaluation Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2012-2018, the available deals are listed by:
Each deal title links via Weblink to an online version of the actual deal record, providing easy access to each contract document where available.
The Global Option and Evaluation Partnering Terms and Agreements in Pharma, Biotech and Diagnostics 2012-2018 report provides comprehensive access to available records for over 1,000 option and evaluation deals, including contract documents where available. Analyzing actual contract agreements allows assessment of the following:
Global Option and Evaluation Deals in Pharma, Biotech and Diagnostics 2012-2018 provides the reader with the following key benefits:
Chapter 1 – Introduction
Chapter 2 – Trends in option and evaluation dealmaking
2.2. Difference between option and evaluation deals
2.2.1. Types of option agreement
2.3. Trends in option and evaluation deals since 2012
2.3.1. Option and evaluation dealmaking by year since 2012
2.3.2. Option and evaluation dealmaking by phase of development since 2012
2.3.3. Option and evaluation dealmaking by industry sector since 2012
2.3.4. Option and evaluation dealmaking by therapy area since 2012
2.3.5. Option and evaluation dealmaking by technology type since 2012
2.3.6. Option and evaluation dealmaking by most active company since 2012
2.4. Option-based deals
2.4.1. Attributes of option-based deals
2.4.2. Reasons for entering an option-based deal
2.4.3. Uptake of option exercise
2.4.4.The future of option-based deals
2.5. Co-promotion options
2.5.1. Attributes of co-promotion in multi-component deals
2.5.2. Reasons for including co-promotion options in a deal
2.5.3. Uptake of co-promotion rights
2.5.4. Co-promotion rights as bargaining chips
2.5.5. The future of co-promotion as part of multicomponent deals
2.6. Company acquisition options
2.6.1. Case study 1: Cephalon – Ception
2.6.2. Case study 2: Endo – Indevus
2.6.3. The future of option to acquire deals
Chapter 3 – Overview of option and evaluation deal structure
3.2. Option and evaluation agreement structure
3.2. Example evaluation agreements
3.2.1.a. Case study 3: Idenix Pharmaceuticals – Janssen Pharmaceuticals
3.3. Option agreement structure
3.3.1. Example option agreements
3.3.1.a. Option to license
Case study 4: Biogen Idec – Isis Pharmaceuticals
3.3.1.b. Option to extend/expand applications/territories
Case study 5: Novartis –Prometheus
3.3.1.c. Option to finance
Case study 6: Amarantus BioSciences– Power3 Medical Products
3.3.1.d. Option to co-promote
Case study 7: Teva – OncoGenex Pharmaceuticals
3.3.1.e. Option to manufacture/supply
Case study 8: NPS Allelix – Nycomed
3.4. Option to acquire agreement structure
3.4.1. Example acquisition option clauses
3.4.1.a. Case study 9: ViroPharma– Meritage Pharma
3.4.1.b. Case study 10: Nuvasive – Progentix Orthobiology
Chapter 4 – Leading option and evaluation deals
4.2. Top option and evaluation deals by value
Chapter 5 – Top 50 most active option and evaluation dealmakers
5.2. Top 50 most active option and evaluation dealmakers
Chapter 6 – Option and evaluation contracts directory
6.2. Option andevaluation deals with contracts since 2012
Appendix 1 – Option and evaluation dealmaking by companies A-Z
Appendix 2 – Option and evaluation dealmaking by industry sector
Appendix 3 – Option and evaluation dealmaking by stage of development
Appendix 4 – Option and evaluation dealmaking by therapy area
Appendix 5 – Option and evaluation dealmaking by technology type
About Wildwood Ventures
Figure 1: Definition of option and evaluation deals
Figure 2: Types of option right
Figure 3: Trends in option and evaluation deal announcements since 2012
Figure 4: Option and evaluation deals signed at each phase of development since 2012
Figure 5: Option and evaluation deals by industry sector since 2012
Figure 6: Option and evaluation deals by therapy area since 2012
Figure 7: Option and evaluation deals by technology type since 2012
Figure 8: Top 50 most active option and evaluation dealmakers since 2012
Figure 9: Example deals where co-promotion options have been actively exercised since 2000
Figure 10: Recent ‘option to acquire’ deals
Figure 11: Components of the option and evaluation deal structure
Figure 12: Types of option in an agreement
Figure 13: Attributes of option terms
Figure 14: Top option and evaluation deals by value since 2012
Figure 15: Most active option and evaluation dealmakers since 2012
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