No

Date

Investors/

Licensee

Service Provider/

Licensor

Assets

MoA

Indication

Stage

Value

(USD Mn)

1

3/3

UCB Pharma

Antengene

ATG-201

Bispecific CD3xCD19 TCE

Immunology

Oncology

Autoimmune diseases

B-cell lymphoma

Preclinical

Preclinical

1,160

2

3/4

Sanofi

Sino Biopharm

Rovadicitinib

JAK/ROCK inhibitor

Oncology

Immunology

Myelofibrosis

cGvHD

Marketed

Phase 3

1,530

3

3/5

Immunis

Toray

IMM02-KORA

Selective opioid kappa

receptor agonist

Neurology

L‑dopa‑induced dyskinesia

associated with Parkinson’s

disease

IND

n/d

4

3/5

Alnylam

Pharmaceuticals

Tenaya

Therapeutics

n/d

Modality-agnostic target

discovery and validation

platform

Cardiovascular

Genetic heart disease

Discovery

1,140

5

3/9

Alfasigma

GSK

Linerixibat

IBAT inhibitor

Metabolic

disorder

PBC pruritus

Submitted

690

6

3/9

Tenacia

Biotechnology

Rapport

Therapeutics

RAP-219

TARPγ8-specific AMPA

receptor negative allosteric

modulator

Neurology

Seizure, Epilepsy

Phase 2

328

7

3/23

Sanofi

Kali Therapeutics

KT501

Trispecific TCE targeting CD3,

CD19, BCMA

Immunology

Rheumatoid arthritis

Phase 1

1,230

8

3/23

BMS

Insitro

Virtual

Human™

AI-driven causal biology

platform integrating human

cell data & ML to identify

disease drivers

Neurology

Amyotrophic lateral sclerosis

Discovery

2,100

9

3/24

MSD

Quotient
Therapeutics

n/d

Somatic genomics platform to

discover novel drug targets

Immunology

IBD

Discovery

2,200

10

3/24

ASKA Pharmaceutical

Insilico Medicine

‘PandaOmics’

Platform

AI-driven therapeutic target

identification

Genitourinary

Endometriosis, Uterine fibroids,

Adenomyosis

Discovery

n/d

11

3/24

Shionogi

Apnimed

SASS-002

Sivopixant(P2X3 receptor antagonist) + n/d

Others

Obstructive sleep apnea

Phase 2a

150+

12

3/25

Biogen

Alteogen

ALT-B4

Recombinant hyaluronidase via Hybrozyme™

-

-

-

549

13

3/26

Tenacia

Biotechnology

Insilico Medicine

‘Pharma.AI’

Platform

Generative AI model for target

ID & molecule design

Neurology

CNS diseases

Discovery

94.75

14

3/29

Eli Lilly

Insilico Medicine

‘Pharma.AI’

Platform

Generative AI model for target

ID & molecule design

n/d

n/d

Preclinical

2,750

15

3/31

MSD

Infinimmune

n/d

Human memory B cell-derived

antibodies

n/d

n/d

n/d

838

No

Date

Acquires

Issuer

Assets

MoA

Indications

Status

Value

(USD Mn)

1

3/3

Esperion

Corstasis

Enbumyst

NKCC2 inhibition in loop of Henle

Others

Edema

Marketed

255

2

3/9

Servier

DayOne Biopharmaceuticals

Ojemda

Type 2 RAF inhibitor

Oncology

Pediatric low-grade glioma

Marketed

2,500

3

3/20

Novarits

Synnovation Therapeutics

SNV4818

PI3Kα inhibitor

Oncology

HR+/HER2- breast cancer

Phase 1/2

3,000

4

3/23

Gilead Science

Ouro Medicines

Gamgertamig

Bispecific BCMAxCD3 TCE

Oncology

Immunology

Multiple myeloma

Autoimmune hemolytic

anemia, Immun

thrombocytopenia

Phase 3

Phase 1/2

2,175

5

3/26

MSD

Terns Pharmaceuticals

TERN-701

Oral allosteric BCR::ABL1 TKI

Oncology

Chronic myeloid leukemia

Phase 1/2

6,700

6

3/27

Novartis

Excellergy

Exl-111

Anti-IgE mAb inducing FcεRIα downregulation

Immunology

Food allergy

Phase 1

2,000

7

3/27

Otsuka Pharmaceutical

Transcend Therapeutics

Methylone

Rapid-acting neuroplastogens
 targeting monoamine(SERT/NET/
 DAT) transporters

Neurology

PTSD,

Psychiatric conditions

Phase 3

1,225

8

3/31

Biogen Inc.

Apellis Pharmaceuticals

Syfovre

Empaveli

C3/C3b complement inhibitor

C3/C3b complement inhibitor

Ophthalmology

Hematology

Dry AMD

PNH

Marketed

Marketed

5,600