Royalty Finance

We know that not every deal is the same. Our team takes the time to understand client needs and expectations for each transaction, and we recommend different transaction terms and structures (including synthetic structures) to best position our clients to secure the results they're seeking in each deal. 

Mintz takes an asset-based approach, analyzing each opportunity from an intellectual property, FDA regulatory, bankruptcy/collateral, antitrust, contract, and pricing and reimbursement perspective to establish a proper valuation model for the asset (i.e., base case, best case, worst case) and structure each transaction in a way that is carefully tailored to the particular opportunity.   For debt transactions, the collateral package is always one of the most important points.  As part of the due diligence process, Mintz identifies and evaluates the core product assets necessary to commercialize the applicable product and works with pre-existing senior secured lenders, if any, to negotiate an inter-creditor agreement with an appropriate collateral package to support the transaction and mitigate downside risk.  Our analysis also considers forward-looking governmental policy and enforcement shifts that could impact the business.

As in any industry, biopharma companies sometimes run into financial trouble.  When that happens, Mintz works with private equity firms, secured lenders, and other royalty investors in bankruptcy proceedings, corporate restructurings, workouts, Section 363 sales, DIP financings and stalking horse bids involving distressed pharmaceutical and biotechnology product assets.  Sometimes, this involves setting up one or more Newcos to take over worldwide development and commercialization of the product.  Mintz has the deep life sciences expertise necessary to handle every scenario.