Insight journal - Technology

Industry trends in vaccine dealmaking – 2009 to 2014

Posted on 07 July 2014

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Industry trends suggest that vaccine research and development is an increasingly active component of healthcare business development. In recent years there has been a significant increase in vaccine partnering and M&A activity.

Preparations given to patients to induce immune responses by producing antibody or cell-mediated responses to fight infectious/ non- infectious agents are called vaccines. Adjuvants are now used along with vaccines to improve immunogenicity.

This article is abstracted from the recently published Vaccine Partnering Terms & Agreements report.

Vaccine partnering has gained popularity in the recent past with an average of 165 deals announced in the last five years alone. With the changes in business models that facilitate partnerships through joint venture, out-licensing, fee for service, co- development, trends in vaccine partnering has shifted from just an acquisition model.

The following figure illustrates the trends in vaccine partnering since 2009.

Figure 1: Vaccine partnering deal frequency 2009 to 2014

vaccine 1







SourceCurrent Agreements, 2014

The leading  participants in vaccine dealmaking are National Institute of Allergy and Infectious Diseases, GSK, Vivalis and Merck and Co. 20% of the vaccine deals since 2009 are entered into by big pharma companies. To view the list of top 50 big pharma companies listed by 2013 revenues- click here.

The leading therapy sectors for vaccine R&D are infectives followed by oncology – see the following figure for details.

Figure 2: Vaccine partnering deals by therapy area – 2009 to 2014

vaccine 2
















SourceCurrent Agreements, 2014

In the infectives field the primary partnering targets are influenzaHIV and malaria. In the oncology field, the lead targets are melanoma, prostate, breast, cervical and brain cancer.

Deal headline value increases with stage of development, as unsurprisingly licensees are willing to pay more for more advanced vaccine candidates. The same was true for upfront payments that rose from low single digit for discovery stage deals through to double digit for clinical stage candidates.

The following is a summary of the top vaccine partnering deals by headline value.

Figure 3: Top vaccine deal making by headline value – 2009 to 2014

 vaccine 3








SourceCurrent Agreements, 2014

We expect to see an ongoing interest in vaccine partnering, particularly in infectives and oncology, but also in the areas of immunological, gastrointestinal and respiratory diseases.

This article is abstracted from the recently published Vaccine Partnering Terms & Agreements report.

The report provides a detailed understanding and analysis of how and why companies enter vaccine partnering deals. The report provides full access to all vaccine partnering deals announced since 2009.

The majority of deals are development stage whereby the licensee obtains a right or an option right to license the licensors vaccine technology. These deals tend to be multicomponent, starting with collaborative R&D, and commercialization of outcomes. The report also includes adjuvant deals and alliances.

The Vaccine Partnering Terms and Agreements report published by Current Partnering provides full details of over 850 vaccine deals announced since 2009 and includes average deal terms including headline, upfront, milestone and royalty rates, where available. In addition, the report provides details of deals broken down by deal type, stage of development, company A-Z and technology type. More details here


The above information has been abstracted from the following resources:

Shamini Thiagarajan



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