Gates Foundation Extends Funding for AN2 Therapeutics, GSK Research Collab

Novartis agreed to a $7.8B deal with Abogen Biosciences for a Chinese-developed mRNA therapy. The Swiss drugmaker will pay $575M upfront and up to $7.2B in milestones. This follows similar deals by Novo, GSK, and AstraZeneca with Chinese biotechs. China's biotech sector is growing rapidly, with ING projecting $250B in outlicensing deals by 2026.

Sanofi & Regeneron expanded their immunology partnership for up to $8B. Novo Nordisk acquired rights to a drug from Hengrui Pharma for up to $2.6B. Telix Pharmaceuticals to acquire ITM Isotope for up to $2.35B. Merck licensed a cancer drug from SciBrunch for up to $2.13B. Genentech partnered with Earendil Labs for up to $1.5B. GSK acquired a hepatic program from Wave Life Sciences. Lundbeck may acquire Xeris Biopharma.

Novartis agreed to pay up to $7.8 billion for global rights to a Chinese biotech's mRNA therapy, including $575 million upfront. The deal aims to offset patent expirations and clinical trial setbacks. Other Western drugmakers, like Novo and GSK, are also securing Chinese drug assets. China's regulatory reforms and innovation speed are driving these deals, with ING projecting $250 billion in Chinese biotech outlicensing by 2026.

Novartis agreed to a $7.8B deal with Abogen Biosciences for an experimental autoimmune disease treatment, highlighting Big Pharma's focus on Chinese biotechs amid a looming patent cliff. Novo and GSK also announced similar agreements with Chinese firms, reflecting the growing importance of China's biotech sector. AstraZeneca partnered with Summit Therapeutics to test oncology drugs, including a Chinese-developed asset.

AstraZeneca (AZN) and Daiichi Sankyo (4568) will test Datroway with ivonescimab in a Phase III trial for triple-negative breast cancer, partnering with Summit Therapeutics (SMMT). The collaboration expands their work on combining ADCs with immunotherapy across multiple tumor types, including lung and breast cancers.

GSK is paying Wave Life Sciences $12 million upfront for a liver-focused RNA drug program. The deal includes potential milestone payments of up to $375 million and royalties. GSK has selected four programs from their 2022 collaboration, with three more under review. Wave's CEO highlighted the company's differentiated technology and ongoing collaboration.