Astellas and Vir in $1.3B deal for CD3 T-cell engager
Astellas Pharma Inc. and Vir Biotechnology Inc. have signed a global co-development pact to advance VIR-5500, Vir’s PRO-XTEN dual-masked CD3 T-cell engager targeting prostate-specific membrane antigen for treating prostate cancer. Under the deal terms, San Francisco-based Vir will receive $335 million in up-front and near-term payments, including $240 million in cash, $75 million in equity investment and a $20 million near-term milestone. Vir is also eligible to receive up to $1.37 billion in development, regulatory and sales-based milestones plus royalties on ex-U.S. sales.

Astellas and Vir in $1.3B deal for CD3 T-cell engager
Astellas Pharma Inc. and Vir Biotechnology Inc. have signed a global co-development pact to advance VIR-5500, Vir’s PRO-XTEN dual-masked CD3 T-cell engager targeting prostate-specific membrane antigen for treating prostate cancer. Under the deal terms, San Francisco-based Vir will receive $335 million in up-front and near-term payments, including $240 million in cash, $75 million in equity investment and a $20 million near-term milestone. Vir is also eligible to receive up to $1.37 billion in development, regulatory and sales-based milestones plus royalties on ex-U.S. sales.
Innovacell’s $91M Tokyo IPO to fund incontinence cell therapies
Innovacell Inc. launched a ¥14.16 billion (US$91.2 million) stock sale on the Tokyo Stock Exchange Feb. 24, ending a near two-year lull of biotech listings in Japan while signaling a dynamic year ahead for cell-based therapeutics.
Gilead-Genhouse's $1.5B+ deal boosts synthetic lethality push
Gilead Sciences is stepping deeper into synthetic lethality, licensing a clinic-ready MAT2A (methionine adenosyltransferase 2a) inhibitor from Suzhou, China-based Genhouse Bio Co. Ltd. in a deal worth up to $1.53 billion.
Harbour Biomed spins out newco in $1.2B CTLA-4 deal
Harbour Biomed is spinning out newco Solstice Oncology and is outlicensing its CTLA-4 antibody, porustobart (HBM-4003), to the newco in a cash and equity deal worth more than $1.2 billion.
CSL taps Lilly to de-risk IL-6 drug following dismal earnings
CSL Ltd. is out-licensing its interleukin-6 (IL-6) monoclonal antibody, clazakizumab, to Eli Lilly and Co. in a deal that brings CSL $100 million in up-front fees. A CSL spokesperson told BioWorld the deal includes undisclosed milestone payments and sales-based royalties. CSL will retain rights to develop and commercialize clazakizumab for prevention of cardiovascular events in patients with end-stage kidney disease, while Lilly will explore the MAb in all other indications.
Novartis sells India subsidiary to private equity firm for $159M
Swiss pharmaceutical giant Novartis AG is selling off its India-listed business unit, Novartis India Ltd. (NIL), to a private equity-led consortium for about ₹14.46 billion (US$159.3 million) as it seeks to grow with “pure-play innovation.”
Japan endorses two iPSC drugs for approval under CEA pathway
Japan is backing conditional approvals of Amchepry (raguneprocel, Sumitomo Pharma Co. Ltd./Racthera Co. Ltd.) and Reheart (Cuorips Inc.), positioning them to become the world’s first induced pluripotent stem cell-derived (iPSC) therapies to receive regulatory clearance.
Ascletis raises $107M to advance oral GLP-1 to phase III trials
Ascletis Pharma Inc. raised HK$843.53 million (US107.93 million) in a placement on the Hong Kong Stock Exchange to advance its lead program, ASC-30, a small-molecule glucagon-like peptide-1 (GLP-1) receptor agonist that can be dosed once monthly subcutaneously and once daily orally for treating obesity.
Takeda’s oral narcolepsy drug steps closer to FDA approval
The U.S. FDA accepted, with priority review, Takeda Pharmaceutical Co. Ltd.’s NDA submission for oveporexton (TAK-681), bringing the oral orexin receptor 2 agonist closer to clearance in narcolepsy type 1.
Madrigal adds siRNA approach to MASH pipeline in $4.4B Ribo deal
Continuing to build on the successful launch of Rezdiffra (resmetirom), Madrigal Pharmaceuticals Inc. is adding six preclinical-stage siRNA therapies to its metabolic dysfunction-associated steatohepatitis (MASH) pipeline in a deal with Ribo Life Science Co. Ltd. and its subsidiary, Ribocure Pharmaceuticals AB, that could be worth $4.4 billion if all milestones are achieved.
Quantx raises $85M to advance oral immunology drugs
After closing an oversubscribed $85 million series B round, Quantx Biosciences Inc. is gearing up to begin clinical trials of its two lead immunology compounds, a STAT6 oral small-molecule inhibitor and an IL-17 oral small-molecule inhibitor.
Australia launches world-first pediatric mRNA brain cancer trial
A world-first pediatric mRNA cancer vaccine trial is launching in Australia that could open new possibilities for children with aggressive brain tumors.
Omnigeniq’s journey from space science to drug design
A project that started as a bioreactor to assist astronauts in deep space to keep medications safe in a microgravity environment could help pharma companies model how drugs behave in the human body.
China tops US in January drug approvals
U.S. FDA approvals began 2026 at a slower pace than usual, with eight approvals recorded in January.
News in brief
BioWorld Asia briefs for Feb. 24, 2026

Analysis and data insight

China amends drug rules to enforce lifecycle accountability
Regulatory
China’s State Council updated its Drug Administration Law, and the changes mark a substantive evolution in the country’s drug regulatory framework.
2026 kicks off with $10.8B January financing haul
Financings
Total biopharma financings rose to $10.79 billion in January 2026, up from $9.08 billion in December. The monthly total nearly matched the January 2024 record of $10.9 billion, far exceeding the $6.82 billion average monthly haul in 2025.
Corxel raises $287M series D round to advance oral GLP-1
Financings
Corxel Pharmaceuticals Ltd. completed a $287 million series D round to advance its lead compound, an oral small-molecule GLP-1 receptor agonist, CX-11, for obese and overweight patients.
December blockbusters push biopharma deal value to record high
Deals and M&A
After only three $1 billion-plus biopharma deals in November, December saw 14 blockbuster deals worth a total of $21.92 billion, including four deals worth more than $2 billion.

Financings

AI meets antibody design: Galux draws $29M series B for drug R&D
Newco news
Galux closed a ₩42 billion (US$29 million) series B round Feb. 10, led by Yuanta Investment to bring AI-driven “rational design” to the protein drug development process, already heavily influenced by human engineering.

Australia

Kazia raises AU$50M to advance PI3K/mTOR inhibitor paxalisib
Financings
Kazia Therapeutics Ltd. raised AU$50 million (US$33.15 million) in a private placement of equity securities to advance lead candidate paxalisib, a brain-penetrant dual PI3K/mTOR inhibitor in clinical trials for brain cancer and advanced breast cancer.

Immutep shares rocket on AU$528M deal with Dr. Reddy’s
Deals and M&A
Immutep Ltd.’s stock surged 31% on Tuesday morning following the news that it out-licensed rights to Dr. Reddy’s Laboratories Ltd. to develop and commercialize eftilagimod (IMP-321, efti) in selected territories in a deal worth AU$528.4 million (US$349.5 million).
Romidepsin offers hope for high-risk neuroblastoma
Science
Australian researchers have found a drug combination that can bypass the cellular defenses in neuroblastoma that lead to relapse, and the discovery could lead to better treatment strategies for children whose cancers have stopped responding to standard chemotherapy.

China

Heart intervention device-maker Insight lands $143M SSE IPO
Medical technology
Insight Lifetech Co. Ltd. listed on the Shanghai Stock Exchange’s STAR market via an unprofitable biotech track reinstated last year, with the Feb. 5 IPO raising ¥998.64 million (US$143.93 million).
Vibrant aims to tame EGFR tumors with masked TCEs
Newco news
After raising $61 million in a series B round, Vibrant Therapeutics Inc. is gearing up to begin a U.S. phase I trial with its lead program, VIB-305, a masked T-cell engager (TCE) for treating EGFR-positive solid tumors.
China NMPA approves Sciwind’s GLP-1 injection for diabetes
Regulatory
Sciwind Biosciences Co. Ltd. said Jan. 30 it won Chinese approval for self-developed glucagon-like peptide-1 (GLP-1) receptor agonist, ecnoglutide (Xianyida), to treat adults with type 2 diabetes.
Early data lift Immunofoco’s solid tumor CAR T program
Clinical
Immunofoco Biotechnology Co. Ltd. reported encouraging early clinical data for its CLDN18.2-targeted CAR T therapy, IMC-002, in heavily pretreated gastric and gastroesophageal junction cancer, adding momentum to the push to extend cellular immunotherapy into solid tumors.
Six drugs to watch in China for 2026
Analysis and data insight
As China emerges as a critical commercial market and a source of global innovation, the newly released 2026 edition of Clarivate’s Drugs to Watch report highlights six drugs to watch in the China market for the year ahead.

Regulatory

Elevar gets new CEO, files NDAs for lirafugratinib, rivoceranib
Cancer
Elevar Therapeutics Inc. appointed Kim Dong-gun (DG) as CEO Jan. 29, as the company focuses on post-NDA strategies for lirafugratinib in bile duct cancer, and the twice-rejected rivoceranib-camrelizumab combination for liver cancer.

Newco news

Hits’ Hyperlab launches as ‘virtual AI lab’ for new drug discovery
Protein
Things once done in laboratories can now be done with computers and AI, said Kim Woo-youn, CEO and cofounder of Hits Inc. “We live in the age of ‘digital alchemy,’” Kim told BioWorld, describing how AI is shifting some drug discovery processes from physical to virtual spaces.

Signet builds new model for gastric cancer drug discovery
Cancer
Signet Therapeutics founder Haisheng Zhang is betting on organoids and AI to outsmart diffuse gastric cancer and the limits of traditional “clean” drug design.
SK Bio, Eurofarma launch Mentis Care for digital epilepsy care
Digital health
SK Biopharmaceuticals Co. Ltd. and Eurofarma Laboratórios SA launched a new joint venture called Mentis Care Inc. Oct. 21, dedicated to developing an AI-powered platform for epilepsy management.

Science

Targetable ‘high-plasticity cell state’ important for cancer progression, drug resistance
Cancer
Cancer cells expand through mutations – but not just through mutations. They also change their behavior in the absence of underlying genetic alterations. Such plasticity helps the cells both adapt to the cellular stress fueled by out-of-control...
Sea anemone venom acts as a senolytic tool against cancer
Aging
The sea anemone Stichodactyla helianthus, which carpets the Caribbean seafloor, may hold the key to eliminating the senescent cells that survive cancer therapy. A collaboration led by Spanish scientists across several international research...
In 2025, autoimmune work notches scientific, economic successes
Deals and M&A
In October, the Nobel Committee awarded the 2025 Nobel Prize in Physiology or Medicine to Shimon Sakaguchi, Mary Brunkow and Fred Ramsdell for their discoveries in the field of autoimmunity.
HIV remission after heterozygous CCR5Δ32 stem cell transplant
Cancer
2025 has been the most challenging year in the efforts to fight HIV since at least the advent of antiretroviral therapy. In a report on “Overcoming disruption, transforming the AIDS response,” released last week ahead of World AIDS Day on Dec. 1,...
Adenosine surge is common thread in ketamine and ECT response
Neurology/psychiatric
Researchers from the Chinese Institute for Brain Research, the Chinese Academy of Medical Sciences, and their collaborators have identified adenosine as the driving force behind the rapid, fast-acting antidepressant effects of ketamine and...
Opportunity, risks of cell therapy to tackle aging and disease
Analysis and data insight
Stem cells are a promising therapeutic modality to fight aging and age-related disease, speakers at the Bio-Plus Interphex Korea 2025 said. Progress in cell-based longevity medicine is being made, they added, although safety, ethical and...

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