Ryan Murr Writes in Buyouts About Potential for Strategic Use of Royalty Finance

Article  |  December 17, 2025

Buyouts

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Writing for Buyouts, partner Ryan Murr notes that in a rebounding biotech market, royalty finance can play a far more strategic role, provided it’s executed with disciplined underwriting, smart structuring, and a genuine partnership with innovators.

“The appeal is straightforward: royalty finance optimizes risk and capital efficiency across market cycles,” Ryan said. “Even in this healthier equity environment, deal activity remains strong, with more than $5 billion in announced transactions year-to-date, on pace to finish well above 2024 levels. But the real story is that these royalty financing transactions are not emergency, distressed or niche financings anymore. They’re strategic.”