No

Date

Investors/

Licensee

Service Provider/

Licensor

Assets

MoA

Indication

Stage

Value

(USD Mn)

1

5/4

BioCryst

Pharmaceuticals

Neopharmed

Gentili S.p.A.

Navenibart

αKLKB1 mAb

Inflammation

Hereditary

angioedema

Phase 3

345

2

5/5

Madrigal

Pharmaceuticals

Arrowhead

Pharmaceuticals

ARO-PNPLA3

PNPLA3 targeting siRNA

Metabolic

disorder

MASH

Phase 1

1,000

3

5/6

GSK

SiranBio

SA030

ALK7 targeting siRNA

Metabolic

disorder

Obesity

Phase 1

1,005

4

5/6

Daiichi Sankyo

Waiv
(Owkin Dx)

-

AI-powered computational pathology

platform for ADC biomarker discovery

Oncology

Cancer

Discovery

n/d

5

5/11

Cellular

Intelligence

Novo Nordisk

STEM-PD

Allogeneic stem cell-derived therapy

Neurology

Parkinson’s diseases

Phase 1

n/d

6

5/12

BMS

Hengrui Pharma

Hengrui’s 4 assets(for joint development)

BMS’s 4 assets(for joint development)

5 jointly developed innovative assets using Hengrui  platforms

Oncology,

Hematology

Immunology

n/d

n/d

n/d

n/d

Preclinical

Preclinical

Preclinical

15,200

7

5/12

Boehringer

Ingelheim

Immunitas

Therapeutics

n/d

Pathogenic cell-targeting antibody

Immunology

Autoimmune

diseases, Chronic

inflammatory

diseases

Preclinical

478

8

5/12

Rigel

Pharmaceuticals

Arvinas, Pfizer

Veppanu

ER degrader PROTAC

Oncology

Breast cancer

Approved

405

9

5/12

Suzhou Ribo

Life Science

Insilico Medicine

-

AI‑enabled siRNA drug discovery and

development collaboration

n/d

n/d

Discovery

n/d

10

5/13

Fosun Pharma

AriBio

AR1001

PDE5 inhibitor

Neurology

Alzheimer's disease

Phase 3

4,700

11

5/13

Abeona

Therapeutics

Angeles

Therapeutics

‘SIR-T’

Platform

T‑cell platform combining CAR‑T and

TCR advantages to develop

PSMA CAR-T (ABO‑701)

Oncology

Prostate cancer

Preclinical

7+

12

5/18

Regeneron

Parabilis

Medicines

‘Helicon’

platform

Peptide platform to develop

AHCs(antibody-helicon conjugates)

Oncology

Cancer

Discovery

2,325

13

5/20

Incyte

Genesis

Molecular AI

‘GEMS’

platform

AI for small molecule discovery;

expanded to 5 new targets

n/d

n/d

Discovery

1,280

14

5/20

Jupiter

Neurosciences

PharmaAla

Biotech Holdings

ALA-002

non-racemic MDMA formulation

Neurology

n/d

Preclinical

100+

15

5/22

Whitehawk

Therapeutics

Hangzhou DAC

CPT113

Linker-payload tech. for 5 programs

Oncology

Cancer

Preclinical

n/d

16

5/27

Bonito

DaltonTX

Adaptive AI

platform

AI-driven collaboration to accelerate

precision oligotherapeutic delivery

Neurology

n/d

Discovery

n/d

17

5/28

Pfizer

Innovent

Biologics

Pfizer’s 4 discovery programs(for joint development)

Innovent’s 8 early-stage assets(for joint development)

Oncology

Oncology

Cancer

Cancer

Preclinical

Preclinical

10,500

No

Date

Acquires

Issuer

Assets

MoA

Indications

Status

Value

(USD Mn)

1

5/3

UCB

Candid Therapeutics

Cizutamig

CND261

BCMAxCD3

bispecific TCE

CD3xCD20

bispecific TCE

Oncology,

Immunology

Oncology

Multiple myeloma

Autoimmune diseases

Non-hodgkin lymphoma

Phase 2

Phase 1

Phase 1/2

2,200

2.

5/6

Bayer

Perfuse Therapeutics

PER-001

Endothelin

receptor antagonist

Ophthalmology

Glaucoma,

Diabetic Retinopathy(DR)

Phase 2

2,450

3

5/7

Angelini Pharma

Catalyst Pharmaceuticals

Firdapse

Agamree

Fycompa

Potassium

channel blocker

GCCR, MR antagonist

GRIA antagonist

Immunology

Musculoskeletal

Neurology

Lambert-Eaton

myasthenic syndrome

Duchenne muscular dystrophy

Seizure, Epilepsy

Marketed

Marketed

Marketed

4,100

4

5/20

Eli Lilly

Engage Bio

‘Tethosome’

platform

Non-viral DNA

delivery system

-

-

-

202

5

5/26

Eli Lilly

Vaccine Company

n/d

5-antigen EBV

vaccine platform;

using in vivo

nanoparticle tech.

Infectious

diseases

Infectious

mononucleosis

Preclinical

1,550

6

5/26

Eli Lilly

Curevo

Amezosvatein

Non mRNA vaccine;

TLR4 agonist

Infectious

diseases

Shingles

Phase 2

1,500

7

5/26

Eli Lilly

LimmaTech

LTB-SA7

Vaccine against

S. aureus

Infectious

diseases

Surgical-site infection

Phase 1

780