Musculoskeletal Collaboration and Licensing Deals 2016-2026

Key Benefits

✔ Benchmark against 527 musculoskeletal partnering deals – Access a substantial body of real-world collaboration and licensing activity to identify relevant precedents and comparable transactions.

✔ Benchmark musculoskeletal deal financials – Analyze disclosed headline values, upfront payments, milestones and royalty rates and investigate the individual transactions behind the benchmarks.

✔ Identify prospective partners and leading dealmakers – Discover companies with demonstrated interest in musculoskeletal assets, technologies, therapeutic indications and relevant stages of development.

✔ Compare activity across the musculoskeletal landscape – Analyze dealmaking by therapeutic indication, development stage, technology type, deal type, industry sector and company.

✔ Find the most relevant comparable transactions – Move beyond broad averages to identify deals involving similar indications, technologies, development stages and partnering structures.

✔ Understand how musculoskeletal deals are structured – Examine licensing rights, development responsibilities, exclusivity, IP, commercialization rights, milestones, royalties and other important transaction provisions.

✔ Learn from real contract documents – Where publicly available, review underlying agreements to understand how rights, obligations, financial terms and other negotiated provisions have been documented.

✔ Apply the intelligence to your own musculoskeletal opportunity – Qualifying customers may also be eligible for a Customized Executive Partnering Briefing focused on their own asset, indication, technology, prospective partners or transaction objectives.

Executive Summary

 

Chapter 1 – Introduction

 

Chapter 2 – Trends in musculoskeletal dealmaking

 

2.1. Introduction

2.2. Musculoskeletal partnering over the years     

2.3. Musculoskeletal partnering by deal type

2.4. Musculoskeletal partnering by industry sector

2.5. Musculoskeletal partnering by stage of development

2.6. Musculoskeletal partnering by technology type

2.7. Musculoskeletal partnering by therapeutic indication

 

Chapter 3 – Financial deal terms for musculoskeletal partnering

 

3.1. Introduction

3.2. Disclosed financials terms for musculoskeletal partnering

3.3. Musculoskeletal partnering headline values

3.4. Musculoskeletal deal upfront payments

3.5. Musculoskeletal deal milestone payments

3.6. Musculoskeletal royalty rates

 

Chapter 4 – Leading musculoskeletal deals and dealmakers

 

4.1. Introduction

4.2. Most active in musculoskeletal partnering

4.3. List of most active dealmakers in musculoskeletal    

4.4. Top musculoskeletal deals by value

 

Chapter 5 – Musculoskeletal contract document directory

                                            

5.1. Introduction

5.2. Musculoskeletal partnering deals where contract document available

 

Chapter 6 – Musculoskeletal dealmaking by therapeutic target

 

6.1. Introduction

6.2. Deals by musculoskeletal therapeutic target

 

Deal directory

 

Deal directory – Musculoskeletal deals by company A-Z

Deal directory – Musculoskeletal deals by technology type

 

Deal type definitions

 

About Biopharma Research Ltd

 

Current Partnering

Current Agreements

Recent report titles from Current Partnering

 

Table of figures

 

Figure 1: Musculoskeletal partnering since 2016

Figure 2: Musculoskeletal partnering by deal type since 2016

Figure 3: Musculoskeletal partnering by industry sector since 2016

Figure 4: Musculoskeletal partnering by stage of development since 2016

Figure 5: Musculoskeletal partnering by technology type since 2016

Figure 6: Musculoskeletal partnering by indication since 2016

Figure 7: Musculoskeletal deals with a headline value

Figure 8: Musculoskeletal deals with upfront payment values

Figure 9: Musculoskeletal deals with milestone payment

Figure 10: Musculoskeletal deals with royalty rates

Figure 11: Active musculoskeletal dealmaking activity since 2016

Figure 12: Top musculoskeletal deals by value since 2016

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3D-Side, 3DR Labs, 3SBio, 4P-Pharma, 4P Therapeutics, 10X Genomics, Abbvie, AbCellera Biologics, AbTherx, AC Bioscience, Accenture, Aclarion, Adaptive Biotechnologies, Advanced Development of Additive Manufacturing, AdventHealth, Affinia Therapeutics, AGC Asahi Glass, Ageless Biotech, AgNovos Healthcare, Akashi Therapeutics, AKL Research and Development, Alcyone Therapeutics, Alexion Pharmaceuticals, Alfasigma, Aligos Therapeutics, Alkem Laboratories, Allay Therapeutics, Allegro, Almirall, Alpine Immune Sciences, Altasciences, Alvogen, Alvotech, Ambry Genetics, Amend Surgical, American Association of Neuromuscular & Electrodiagnostic Medicine, American Regent, Amgen, Amneal Pharmaceuticals, AMRA, AMRA Medical, Anagenesis Biotechnologies, AnaMar, Andelyn Biosciences, Angers University, Anika Therapeutics, AnnJi Pharmaceutical, Antibe Therapeutics, Apple, Apsen Farmacutica, Aptahem, Aptorum Group, Aratana Therapeutics, Aravive Biologics, Argenta, argenx, ARK Crystal, Armatus Bio, Arrowhead Pharmaceuticals, Arthrosi Therapeutics, Artialis, Asahi Kasei, AskAt, Asklepios Biopharmaceutical, Astellas Pharma, AstraZeneca, ATEC Spine, Attwill Medical Solutions, Audentes Therapeutics, Augurex Life Sciences, Aurinia Pharmaceuticals, Autotelic BIO, Avalere Health, Avenue Therapeutics, Aveta Biomics, AveXis, Avidity Biosciences, Avion Pharmaceuticals, Axelys, Axovant Gene Therapies, Back-A-Line, Baebies, Bayer, Baylor College of Medicine, BC Platforms, Beijing Tide Pharmaceutical, Benitec Biopharma, Berg, BGI, Biedermann Motech, BinnoPharm, Bio-Thera Solutions, BioCanRx, Biogen, BioGen Medical, Biohaven Pharmaceuticals, BioMarin Pharmaceutical, BioMed X Innovation Center, Biomimetic Innovations, BiondVax, BioNexus Gene Lab, Bioqube Ventures, BioRestorative Therapies, BioSenic, Bioservo Technologies, Biosolution, Biosplice, Bioventus, BioVinc, BirchBioMed, Bison & Rose, Blueprint Medicines, Boehringer Ingelheim, Bone Biologics, Bone Therapeutics, Brain Canada, Brickell Biotech, BridgeBio Pharma, Brigham and Women's Hospital, Bristol-Myers Squibb, Broad Institute, Caerus Strength, California Institute for Regenerative Medicine, Calimmune, Camargo Pharmaceutical Services, Can-Fite BioPharma, CANbridge Pharmaceuticals, Capricor Therapeutics, Capsigen, CareFirst BlueCross BlueShield, Carlsmed, Carna BioSciences, Cassie + Friends, Catabasis Pharmaceuticals, Catalent, Catalyst Pharmaceuticals, Cedars-Sinai Medical Center, Celltech, Cellthera Pharma, Celltrion, Cel Sci, Centogene, Century Therapeutics, Cerhum, CgBio, Changshan Pharm, Charles River Laboratories, CheckPoint Immunology, Children's Hospital Boston, Children's Hospital of Philadelphia, Children's Research Institute, Chronolife, Chugai Pharmaceutical, CHU Sainte-Justine, Cipla, City of Hope, CJ CheilJedang, Clementia Pharmaceuticals, CMS Medical, Coapt, Cocoon Biotech, Codiak BioSciences, Collaborative Trajectory Analysis Project, Columbia University, Columbia University Medical Center, Conduit Pharmaceuticals, ConforMIS, Coracoid Solutions, CRISPR Therapeutics, CrystalGenomics, CSIR-Central Drug Research Institute, Cumberland Pharmaceuticals, Curasan, Cure Duchenne, CURE Pharmaceutical, CurveBeam AI, CymaBay Therapeutics, CytoMed Therapeutics, Cytoo, Cyxone, Daewoong Pharmaceutical, Dalhousie University, Defense Advanced Research Projects Agency, Delivra, Delpor, Denali Therapeutics, Department of Defense, Department of Veterans Affairs, DePuy, Distributed Bio, Dr. Reddy's Laboratories, Duchenne UK, Duke University, DuraStat, Dynacure, Dyne Therapeutics, Dyno Therapeutics, Echolight Medical, ECM Therapeutics, Ecole Polytechnique de Montreal, EGeen, Eisai, Elanco, Eli Lilly, Emmyon, Emory University, Emovi, Enable Injections, ENCell, Endo International, Endo Ventures, Energy Medicine Research Institute, Enleofen Bio, Entrada Therapeutics, Enveric Biosciences, Enzene Biosciences, Equillium, Ethos Research & Development, Ethypharm, Eureka Eurostars, Eurofins LifeCodexx, EVA Pharma, Evonik Industries, EVOQ Therapeutics, Evotec, Exagen Diagnostics, ExCEEd Orphan, Exicure, Exonics Therapeutics, Exothera, Facio Therapies, Factor Bioscience, Feinstein Institute for Medical Research, Fibrocell Science, Fin-ceramica faenza spa, Flexion Therapeutics, Fluidigm, Forbius, Forge Biologics, Frequency Therapeutics, Fresenius Kabi Pharmaceuticals, Friends of FSH Research, FSHD Global Research Foundation, FUJIFILM Cellular Dynamics, Fujifilm Kyowa Kirin Biologics, Fuji Yakuhin, Fulcrum Therapeutics, Galapagos, Galderma, Galecto, Gebro Pharma, GEn1E Lifesciences, GenEdit, GeneQuine Biotherapeutics, General Electric (GE), Genethon, Geneva Foundation, Genevant Sciences, Gennao Bio, Genome BC, Genome Canada, Genome Insight, Genosera, George Washington University, Gero, Gilead Sciences, GlycoNex, GPCR Therapeutics, Graminex, Graviton Bioscience, Gravocore, Great Ormond Street Hospital (GOSH), Grunenthal, GSK, Guangzhou Ruianbo Pharmaceutical Technology, Guangzhou Ruiao Biopharmaceutical Technology, Haisco Pharmaceutical, HanAll Pharmaceuticals, Hansa Biopharma, Hanuman Pelican, Harbour Biomed, Harvard University, HAYA Therapeutics, HealthSnap, HealthTrio, HemoShear, Henlius Biotech, High Line Bio, Hikma Pharmaceuticals, HistoIndex, Horizon Europe, Horizon Pharma plc, Horizon Therapeutics, Hospital for Special Surgery, Howmedica Osteonics, Human Life CORD Japan, Icahn School of Medicine at Mount Sinai, IDIPharma, Idorsia, IGEA Clinical Biophysics, Iktos, IM-Tech, Image Analysis, ImageBiopsy Lab, Imcyse, IMIDomics, Immunis, Immuthera, Impressio, In2Bones USA, Incyte, Indiana University, Innosuisse, Innovate UK, Innovent Biologics, Innovus Pharmaceuticals, Inovalon, Inserm, Intas Pharmaceuticals, Integrated Biosciences, Intel, Intellia Therapeutics, International Spine Study Group Foundation, Intrexon, Inventiva, Invibio Biomaterial Solutions, Invitae, Ionis Pharmaceuticals, Ipsen, IQVIA, Ironwood Pharmaceuticals, Italfarmaco, Izana Bioscience, Jain Foundation, Janssen Pharmaceuticals, Janssen Research & Development, JCR Pharmaceuticals, Jesse's Journey, Jiangsu Aosaikang Pharmaceutical, Jiangsu Hansoh Pharmaceutical, Jiangsu Tainuo, Johns Hopkins University, Johnson & Johnson, Johnson & Johnson Innovation, Jolt Health, Jubilant Radiopharma, Jubilant Therapeutics, Juniper Biologics, Juvena Therapeutics, JW Pharmaceutical, Kali Therapeutics, Kalytera Therapeutics, Kansas State University, Karolinska Institute, Kashiv BioSciences, Kawasaki Medical School, Keck School of Medicine of USC, Kelyniam Global, Kennedy Institute of Rheumatology, KeyBioScience, KeyCare, KFx Medical, Kinea Bio, Kiniksa Pharmaceuticals, KiOmed Pharma, Kitov Pharma, Kolon Life Science, Komodo Health, Kowa Pharmaceuticals America, Kuhnil Pharmaceuticals, KYE Pharmaceuticals, Kyowa Hakko Kirin, Laboratories Acbel, LABORATORIOS SAVAL, Laurel Venture Capital, Leadiant Biosciences, Les Laboratoires Servier, Level Brands, Levolta Pharmaceuticals, Lexicon Pharmaceuticals, LG Chem, Lima Corporate, Link Health, Lipocine, Locana, London School of Medicine and Dentistry, Lonza, Lucy Biotech, Ludwig Institute for Cancer Research, Lumicera Health Services, Lupin, Lynk Pharmaceuticals, Maastricht University, Mabwell Bioscience, mAbXience, MAIA Pharmaceuticals, MainPointe, Manoira Corporation, Marathon Pharmaceuticals, Marina Biotech, Maryland Stem Cell Research Fund, Massachusetts General Hospital, Massachusetts Institute of Technology, Max-Planck, Max Biopharma, Maxx Medical, Maxx Orthopedics, Mayo Clinic, MC10, McMaster University, MDA Venture Philanthropy, Medac, Medacta, Medexus Pharmaceuticals, Mediar Therapeutics, Medicardia Health, Medidata Solutions, MedImmune, Medipost, Medolife Rx, MedShape, Menarini, Merck and Co, Merck KGaA, Mesoblast, Mestag Therapeutics, Metabolon, Methuselah Foundation, Metrion Biosciences, MHC Medical Products, Microdrop, MiMedx, Miravo Healthcare, miRecule, Mithra Pharmaceuticals, Mitsubishi Tanabe Pharma, Moebius Medical, Momenta Pharmaceuticals, MoonLake Immunotherapeutics, Morphic Therapeutic, Morris Animal Foundation, MoveUP, mSKIL, MS Pharma, MTF Biologics, Mundipharma, Muscle Activation Technique, Muscular Dystrophy Association, Musculoskeletal Transplant Foundation, Mylan Laboratories, Mylan Pharmaceuticals, Myonexus Therapeutics, MYOS, Myriad Genetics, myTomorrows, Nano-X Imaging, Nanotherapeutics, National Human Genome Research Institute, National Institute of Arthritis and Musculoskeletal Diseases, National Institute on Aging, National Institutes of Health, National Science Foundation, Nationwide Children’s Hospital, Navidea Biopharmaceuticals, Navitas, NeoDynamics, Nestle, Neuro42, Neurocrine Biosciences, Neuronoff, NeuroVive Pharmaceutical, NeuX Technologies, Nippon Shinyaku, Nipro Corporation, Nordic Bioscience, Nordic Pharma Group, Northway Biotechpharma, Northwell Health, Northwestern University, NovaQuest, Novartis, NT Pharma, Nuevolution, Nuritas, Nuvo Research, nView Medical, Ohio State Innovation Foundation, Ohio State University, OliX Pharmaceuticals, OmniaBio, OncoArendi Therapeutics, Oncodesign, Onkos Surgical, Ono Pharmaceutical, Open University of Israel, OPUM, Orebro University, Organon, Organovo, Orthocell, Orthofix Medical, OrthoGrid Systems, Orthopaedic Foot & Ankle Center, Ortho Regenerative Technologies, OrthoSensor, Ortoma, Osteolabs, Osteopore International, Oxford Biomedica Solutions, Paladin Labs, Palisade Bio, Paragon 28, ParcelShield, Parent Project Muscular Dystrophy, Parvizi Surgical Innovation, Patient-Centered Outcomes Research Institute, Pennsylvania State University, PeptiDream, PetVivo, Pfenex, Pfizer, PharmaLegacy Laboratories, Pharmanovia, Pharmapark, Poietis, Precision BioSciences, Pregene Biopharma, Premier Inc, Prevail Therapeutics, Prime Therapeutics, PrinterPrezz, Prometheus Laboratories, Promimic, Propella Therapeutics, Proprio, Provider Network of America, PTC Therapeutics, pt Health, Purdue Pharma, Purdue Research Foundation, QED Therapeutics, QuantHealth, Queen Mary University of London, Quest Diagnostics, Radius Health, Radius Pharmaceuticals, Rainbow Medical, Ramot at Tel Aviv University, Rani Therapeutics, Rebel Edibles, Recombinetics, Recursion, Regen BioPharma, Regeneron Pharmaceuticals, Regeneus, Regenstrief Institute, Regenxbio, Relation Therapeutics, Remedium Bio, Remission Medical, Replicel Life Sciences, Restoration Biologics, RevBio, ReveraGen BioPharma, Revive Therapeutics, Revolo Biotherapeutics, Rheumatology Research Foundation, Ribon Therapeutics, Rigenerand, Riptide Bioscience, RMX Biopharma, Roche, Rocket Pharmaceuticals, Roivant Sciences, ROMEG Therapeutics, RoosterBio, Saint Louis University, Samsung Bioepis, Sanara MedTech, Sandoz, Sangamo Therapeutics, Sanguine, Sanofi, Santhera Pharmaceuticals, Saphetor, Sarcomatrix Therapeutics, Sarepta Therapeutics, Satellos Bioscience, Sayre Therapeutics, Scipher Medicine, Scribe Therapeutics, Scripps Research Institute, Scriptr Global, Second Genome, SecondWave Systems, Seikagaku, Selecta Biosciences, Serenus.AI, Shionogi, Shriners Hospital for Children, Si-Bone, Simcere Pharmaceuticals, SimonMed Imaging, Singapore Sengkang General Hospital, SiSaf, Sites Medical, Skyhawk Therapeutics, Sleip, SmartCella, Smith & Nephew, Solid Biosciences, Solve GNE, SomaLogic, Somite Therapeutics, Sorrento Therapeutics, Southwest Research Institute, Southwest Transplant Alliance, Spotlight Innovation, SQI Diagnostics, STADA Arzneimittel, Standigm, Stempeutics, Storm ID, Strand Life Sciences, StrideBio, StrongPath, Strykagen, Stryker, Summit Therapeutics, Sun Pharmaceutical, Sway Medical, Swedish Bactiguard, Swedish Orphan Biovitrum, SynAct Pharma, Synpromics, Synthego, Tabuk Pharmaceutical, Taiwan Liposome Company, Takeda Pharmaceutical, Technomark Life Sciences, Teijin, Teikoku Seiyaku, Telomir Pharmaceuticals, TeraRecon, Teva Pharmaceutical Industries, Teva Pharmaceuticals USA, Tevard Biosciences, Texas Christian University, The Arthritis Society, The Cyprus Institute of Neurology and Genetics, Theradaptive, Theramex, Thermo Fisher Scientific, THINK Surgical, Thuasne and Townsend Design, TissueGene, Tissue Genesis, Tissue Regenix, TiumBio, TLC BioSciences, Toshiba Medical Systems Corporation, Total Joint Orthopedics, Tow Foundation, TR-Pharm, TracPatch Health, Transcenta, Transdermal Delivery Solutions, TRB Chemedica, TrialSpark, Tufts University, Turner Imaging Systems, UCB, Ultragenyx Pharmaceuticals, Unilife, United Orthopedic Group, University Gottingen, University of Basel, University of Bern, University of British Columbia, University of California, San Diego (UCSD) School of Medicine, University of California Berkeley, University of California Irvine, University of California Los Angeles, University of California San Francisco, University of Florida, University of Illinois, University of Illinois Urbana-Champaign, University of Iowa, University of Kansas, University of Lausanne, University of Liverpool, University of L’Aquila, University of Maryland Baltimore, University of Massachusetts Medical School, University of Miami, University of Michigan, University of Minnesota, University of Missouri, University of Ottowa, University of Oxford, University of Pennsylvania, University of Pittsburgh, University of Sydney, University of Texas Southwestern Medical Center, University of Vermont, University of Verona, University of Virginia, University of Washington, University of Western Australia, Urica Therapeutics, US Army, Vandria, Variant Bio, V ClinBio, Verge Genomics, Verily, VeriSIM Life, Verity Pharmaceuticals, Vertex Pharmaceuticals, VetStem, VIB, Victoria University, Virginia Commonwealth University, Virpax Pharmaceuticals, Viscogliosi Brothers, Vitalli Bio, Vita Therapeutics, Vizient, Voronoi, Voyager Therapeutics, Walloon Region Investment Fund, Weill Cornell Medical College, WellDyne, William Harvey Research Instutute, WishBone Medical, WorldCare Clinical, WuXi Biologics, Xlife Sciences, Yale University, Yposkesi, Zebra Medical Vision, Zentiva, Zimmer Biomet, Zoetis

About Current Partnering

A definitive, evidence-based approach to dealmaking intelligence

Current Partnering is the industry-leading provider of pharmaceutical and biotech dealmaking intelligence, delivering a clear, structured, and evidence-based view of how partnerships are designed, negotiated, and executed in practice.

Our reports combine comprehensive deal coverage, structured data analysis, and contract-level insight, enabling a deeper understanding of how financial terms, rights, and responsibilities are defined across real-world transactions.

All reports are updated every six months, ensuring users have access to the latest deal activity, trends, and market developments.

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Our methodology

Built on a continuously updated proprietary database

All analysis is underpinned by Current Agreements, our proprietary deals and alliances database which is updated daily by our analysts as new transactions are announced globally.

Deal records are continuously reviewed and enriched as additional information becomes available, ensuring accuracy, completeness, and relevance.

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Comprehensive and verifiable data sourcing

Deal data is sourced from publicly available industry disclosures, including:

• Company press releases and announcements
• SEC filings and equivalent regulatory disclosures
• Company and investor presentations
• Conference materials and company websites

All sources are captured and referenced, enabling full transparency and user verification.

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Broad coverage across deal types and structures

Current Partnering provides comprehensive coverage across a wide range of deal types, including but not limited to:

• Licensing and co-development
• Research and collaborative R&D
• Manufacturing, supply, and distribution
• Commercialisation and co-promotion
• Equity investments, joint ventures, and asset transactions
• Options, royalties, and financing agreements

This breadth ensures a complete view of how partnerships are structured across the life sciences sector.

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Structured, standardised analysis

Every deal is analysed using a consistent framework, capturing (where disclosed):

• Financial terms — including upfront payments, milestones, and royalties
• Rights allocation — development, manufacturing, and commercialization responsibilities
• Deal structure — exclusivity, territorial scope, and agreement type
• Contractual provisions — clauses defining risk, control, and value-sharing

Each deal record is fully categorised, including data fields such as:

• Therapy area and technology type
• Stage of development
• Asset type and deal components
• Geographic scope and exclusivity
• Source documentation, including press releases and SEC filings

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Financial normalisation for comparability

All financial values are standardised to USD using the exchange rate at the time of deal announcement, enabling consistent comparison of deal terms across geographies.

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Contract-level insight

Where available, reports include direct access to underlying agreement documents, providing visibility into how deals are constructed in practice.

This enables users to understand:

• How financial mechanisms are defined and triggered
• How responsibilities are operationalised between parties
• How flexibility, risk, and control are allocated within agreements

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Designed for real-world application

Current Partnering reports are built to support business-critical decision-making across the life sciences ecosystem, including:

• Pharmaceutical and biotech companies — benchmarking deals, structuring transactions, and supporting licensing strategy
• Investment firms and venture capital — assessing deal benchmarks, valuation expectations, and partner behaviour
• Advisory, legal, and consulting firms — supporting client engagements with real-world precedent and contract-level insight

Common use cases include:

• Benchmarking comparable transactions
• Supporting valuation and deal structuring
• Preparing for negotiations
• Evaluating potential partners
• Informing internal strategy with real-world evidence

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A trusted industry reference

With a long track record in the sector, Current Partnering is relied upon by leading pharmaceutical companies, emerging biotechs, investors, and advisory firms as a trusted source of dealmaking intelligence.

By combining proprietary data, rigorous methodology, and contract-level insight, our reports provide a reliable and authoritative foundation for understanding how deals are structured, negotiated, and valued.