Royalty Monetizations

Royalty investing is at its highest level in history with an estimated $6 billion in new fund-raising for royalty investment strategies since 2010.

That in addition to allocations to royalty purchases by several large investment funds brings the currently available deployable dollars to over $35 billion.

This market trend shows no signs of slowing. While access to the traditional capital markets remained uneven, the pace of royalty monetizations has exploded.

This rapidly expanding market has become a mainstream source of non-recourse, and non-dilutive growth capital for corporate developers, academic institutions, and inventors that provides stakeholders with unique structuring flexibility and the potential to share in future upside.

Torreya Partners is a leader in royalty monetizations and has been involved in more than $700 million in transactions in this area since 2009.

We have an experienced and capable team that is able to work on royalty deals and related structured / synthetic transactions for both approved and unapproved products.

We are willing to take on challenging assignments and have a track record of getting deals to a satisfactory conclusion. For example, Torreya is the only agent that has successfully carried out a portfolio transaction for a group of royalties on unapproved antibodies (April 2013 transaction between Selexis and Ligand).

Like any corporate asset sale or structured financing, a royalty monetization is a highly negotiated and documented transaction. An issuer greatly benefits from having an experienced advisor to navigate through the technical and procedural aspects.

Torreya Partners has the deal experience and expertise to take on all of these key responsibilities and to offer a turnkey solution for its clients.

The services that Torreya provides include:

Preparation

  • Review of licensing contracts
  • Valuation analysis
  • Management of third-party market reports
  • Preparation of all marketing material

Transaction Structuring

  • Analysis of financing structures
  • Analysis regarding structural negotiation with buyers
  • Syndication with multiple bidders

Marketing / Execution

  • Management of buyer marketing
  • Qualification of potential buyers
  • Management of the CDA execution
  • Working with legal counsel on documentation

Process Management

  • Management of bid process letters, diligence collection, data room assembly, and buyer concerns
  • Coordination deal team
  • Deal closing logistics