Takeda Pharmaceutical Co. Ltd. has signed an option agreement to in-license Ascentage Pharma Group Inc.’s olverembatinib, an oral third-generation BCR-ABL tyrosine kinase inhibitor (TKI). If exercised, the option would allow Takeda to license exclusive global rights to develop and commercialize olverembatinib in all territories outside of mainland China, Hong Kong, Macau, Taiwan and Russia.

Biopharma deal value surged in May to $18.76 billion, up 23% from April's $15.28 billion. This increase follows March’s $8.29 billion and February’s $7.76 billion, although represents a decline from January’s $27.9 billion. The monthly average for 2024 stands at $15.64 billion, compared to the $18.14 billion monthly average in 2023. Meanwhile, the value of biopharma M&As rose to $4.75 billion in May, an increase from April’s $1.33 billion, which was the lowest figure in nearly a year.

Through a global rights agreement with Futuregen Biopharmaceutical Co. Ltd., Abbvie Inc. continues to build its immunology portfolio to help offset losses from Humira as biosimilars tighten their grip on the mega-blockbuster.

In 2023, med-tech deals culminated in the highest total deal value ever recorded by BioWorld MedTech, totaling $10.63 billion, a 33% increase from the $7.99 billion recorded in 2022.

Arrivent Biopharma Inc. and Jiangsu Alphamab Biopharmaceuticals Co. Ltd. have signed a development deal that leverages Alphamab’s antibody-drug conjugate (ADC) research and discovery platform and could bring Alphamab up to $615.5 million.

Lotus Pharmaceutical Co. Ltd. is acquiring the Thailand business and commercial entity of Teva Pharma Thailand to expand its footprint in Southeast Asia.

Shionogi & Co. Ltd. has entered into an option agreement with Cilcare Dev SAS to acquire the exclusive license for the global development, manufacturing and commercialization of hearing loss treatment drug candidates CIL-001 and/or CIL-003.

Abtis Co. Ltd., Dong-A ST’s newly incorporated subsidiary since December 2023, is making headway with its leading Claudin18.2-targeting antibody-drug conjugate (ADC) candidate, AT-211, according to Abtis CEO Taedong Han. “About 80% of gastric cancers do not have HER2 overexpression, but 77% overexpressed Claudin18.2,” Han told Bio Korea 2024 audience members on May 9, stressing that AT-211 was found to be highly potent against cancer cells expressing Claudin18.2 in ADC cell viability studies.

Lotus Pharmaceutical Co. Ltd. is acquiring the Thailand business and commercial entity of Teva Pharma Thailand to expand its footprint in Southeast Asia.