IR Licensing and Partnerships

Novo licensed Hengrui's once-weekly oral GLP-1/GIP dual agonist HRS-1596 in a deal worth up to $2.6 billion, while AstraZeneca invested $2 billion in Summit Therapeutics to pair ivonescimab with its antibody-drug conjugate portfolio.

Merck licenses a preclinical KRAS G12D inhibitor from SciBrunch, FDA approves Olumiant, Juvmo, and Atebrioz across three separate indications, and Matthew Montes de Oca makes the case for compounding pharmacies to set their own safety standards.

Merck has acquired exclusive global rights to SciBrunch's preclinical KRAS G12D inhibitor SPR2015.

Three platform-technology deals paired Nanexa, Earendil Labs, and Atavistik Bio with Novo Nordisk, Genentech, and Roche to advance next-generation metabolic and oncology medicines.

Eli Lilly is set to pay InnoCare Pharma up to $3.35 billion to discover and develop compounds against upwards of five undisclosed targets.

Novartis has agreed to pay BoomRay up to $900 million for exclusive global rights to an undisclosed preclinical radioligand therapy asset.

Lisata Therapeutics acquires Marea Therapeutics and secures $225 million in concurrent financing, while mAbxience and Sandoz partner to develop and globally commercialize an emicizumab biosimilar.

Five major pharma stories in one day — Novo's rebrand and AI bets, Bayer's 30-year CKD first, GSK's T-cell engager, and Sanofi's portfolio exit.

Orbis Medicines strikes a partnership with Novo, Dualitas Therapeutics enters collaboration with Roche, and Aethlon Medical has agreed to merge with North Immunology.

Alteogen grants Novartis options to develop subcutaneous formulations using its ALT-B4 hyaluronidase platform, NewBiologix and Synastra partner to develop a stable producer cell line, and RedHill acquires global commercialization rights to Ferring's Rebyota and Clenpiq.

Simcere Zaiming has licensed its first-in-class tri-specific CD79a/CD19/CD3 T-cell engager Sim0660 to Roche for up to $1.53 billion, including a $75 million upfront payment.

DualityBio has licensed its Dupac next-generation ADC payload platform to Genentech, and Teva has entered a stalking horse bid to acquire BioXcel's Igalmi.

A new Eli Lilly study links Zepbound to lower healthcare costs in older adults with obesity, Biohaven and Haisco strike major licensing deals with SK Biopharmaceuticals and Sentivera, and Raviv Pryluk makes the case for rethinking clinical trial sample sizing.

Biohaven grants SK Biopharmaceuticals an exclusive worldwide license to its Kv7 ion channel platform, while Haisco licenses a preclinical type 2 inflammatory disease asset to newly formed Sentivera.

Hanmi Pharm has licensed HM17321 to Genentech for up to $2.3 billion, including a $190 million upfront payment.

From an approval for a disease affecting 900 people worldwide to a new drug class in multiple myeloma and a $322 million biosimilar collaboration — this week's deals and approvals reveal a lot about how pharmaceutical strategy is evolving.

Amplitude Therapeutics enters a collaboration with Eli Lilly to develop trans-amplifying RNA vaccines, while Chai Discovery partners with Bristol Myers Squibb to deploy its AI molecular folding and design models across BMS's antibody discovery portfolio.

UroGen Pharma has invested in IntraGel Therapeutics and secured an exclusive option to license Tumocure, and Lupin's subsidiary has licensed European commercialization rights to Tenpoint's Yuvezzi.

LEO Pharma agrees to acquire dersimelagon, OmniAb signs a ion channel discovery collaboration with Eli Lilly, Chugai grants GSK an exclusive worldwide license to AID351, and BioMarin acquires Alesta Therapeutics to gain ALE1.

Henlius Biotech has granted Sandoz exclusive ex-China commercialization rights to up to 10 monoclonal antibody and ADC biosimilars for up to $322 million.

From a $1.32 billion rare epilepsy acquisition to AI drug discovery partnerships, biotech IPOs, and a rare disease investment rebound — here's what moved the market this week.

Mereo BioPharma has granted Sentynl Therapeutics an exclusive option to commercialize alvelestat in the U.S. for Alpha-1 Antitrypsin Deficiency-Associated Lung Disease.

Jazz Pharmaceuticals agrees to acquire Actio Biosciences for $820 million upfront plus up to $500 million in milestones for ABS-1230.

Novo Nordisk selects AWS as its preferred AI partner for drug discovery, Innate Pharma partners with Sobi, and Innovent Biologics secures exclusive commercialization rights for Vanflyta in China.

Tarsus Pharmaceuticals has agreed to acquire Alkeus Pharmaceuticals for $450 million, centering the deal on gildeuretinol.