12th Annual IBA World Life Sciences Conference

3 Jun - 5 Jun 2026

Session information

PANEL FOUR - Life sciences M&A in uncertain markets – earnouts, CVRs, contingent milestones, and IP-driven valuation mechanics/late-stage private financings and IPO alternatives (crossovers, structured preferred, PIPEs, ATMs and registered directs)[

Description

This panel will examine how volatility, regulatory complexity and shifting capital markets are reshaping transactional structures and financing strategies in the life sciences sector. Speakers will discuss the growing use of earnouts, contingent value rights, milestone based payments and IP driven valuation mechanisms as tools to bridge valuation gaps and allocate risk in M&A transactions involving biotech, pharma and healthtech companies. The discussion will also address late stage private financing alternatives to traditional IPOs, including crossovers, structured preferred equity, PIPEs, at the market offerings and registered directs, analysing their legal, governance and disclosure implications. Drawing on cross border experience, the panel will offer practical insights into structuring deals that balance investor protection, innovation incentives and long term value creation in an increasingly uncertain global market.

Speakers

Francisco José Brito e Abreu Uria Menendez, Lisbon, Portugal