Minghui Pharmaceutical Ltd. is out-licensing its antibody-drug conjugate (ADC) MHB-088C to Qilu Pharmaceutical Co. Ltd. for China rights for up to ¥1.345 billion (US$186.44 million). Under terms of the deal, Qilu gains rights to develop and manufacture the ADC in greater China, including mainland China, Hong Kong, Macau, and Taiwan.
Shionogi & Co. said it plans to acquire Japan Tobacco Inc. (JT) subsidiaries Torii Pharmaceutical Co. and Akros Pharma Inc. for ¥160 billion (US$1.1 billion) to expand its global R&D business. The two companies have been negotiating since early 2024, and the deal is structured such that a tender offer will begin on May 8 and end on June 18 with an offer price of ¥6,350 per share to buy at least 11.89% of the minority stake, JT told BioWorld.
Dimerix Ltd. sealed an exclusive license agreement with Amicus Therapeutics Inc. for commercialization of its phase III kidney disease candidate, DMX-200, in a deal valued at AU$940 million (US$601.22 million).
Tightening of U.S. regulation and capital is leading Chinese biotechs to alternative and new models of financing, ranging from cross-border licensing deals, M&As, the so-called newco model and overseas listings.
Europe was a bigger counterpart to China in pharmaceutical dealmaking than the U.S. last year, speakers at Chinabio Partnering Forum said April 23, and the trend is likely to continue in 2025 with the shuttering of U.S. capital and volatility ailing global markets.
Ono Pharmaceutical Co. Ltd. terminated development of CTX-177 (ONO-7018), its ex-oncology candidate in-licensed from Chordia Therapeutics Inc. in December 2020 for up to ¥52.9 billion (US$370.37 million).
Biopharma deal value declined in the first three months of 2025 compared to the previous quarter, but remained above the 2024 quarterly average of $57.63 billion. In the first quarter (Q1), biopharma deals totaled $66.86 billion across 330 transactions, a decrease from $80.65 billion in Q4 2024, which saw 372 deals. However, this was a significant value increase from Q1 2024, when deals amounted to $44.32 billion across 376 transactions.
Biopharma dealmaking surged in the first quarter of 2025, totaling $66.86 billion, well ahead of the $44.16 billion recorded in the same period last year. March contributed $29.48 billion to the total, a 237% increase from February’s $8.76 billion and closely matching January’s $28.63 billion.
ABL Bio Inc. announced April 7 that it sealed a potential £2.075 billion (US$2.65 billion) license deal with GSK plc, granting GSK global rights to use ABL’s blood-brain barrier (BBB) penetrating bispecific antibody platform, Grabody-B, to develop multiple programs in the neurodegenerative disease arena. Under the terms signed April 5, ABL agreed to transfer Grabody-B-related technology and know-how to GSK, upon which GSK will assume responsibility for preclinical and clinical development, manufacturing and commercialization.
Sumitomo Pharma Co. Ltd. announced that it will sell off two more of its subsidiaries, Sumitomo Pharma (China) Co. Ltd. and Sumitomo Pharma Asia Pacific Pte. Ltd. (and their subsidiaries), to Marubeni Global Pharma Corp. April 1, as the Japanese pharma continues restructuring efforts from last year.