2024 Dec- YAFO Global Biopharma Transactions Report 雅法全球生物医药交易月报

2025-01-06

1. Executive Summary of the Month

The final month of 2024 concluded on a high note with an impressive total of 94 licensing and cooperation deals signed globally. In the China biotech sector alone, 17 out-licensing deals, 7 in-licensing deals, and 10 domestic deals were secured.

Among the key deals, Hansoh Pharmaceutical’s partnership with Merck & Co. for the preclinical asset HS-10535 stood out as the top out-licensing agreement, valued at $2,012 million with an upfront payment of $112 million. Eli Lilly’s collaboration with InnoventBiologics for the approved asset pirtobrutinib highlighted a notable in-licensing deal, while CSPC Pharma’s domestic agreement with BeOne Medicines for the Phase 1 oncology asset SYH2039 was valued at $1,835 million, including a $150 million upfront payment.

Globally, 60 licensing and cooperation deals were signed in December. The most prominent deal was between PTC Therapeutics and Novartis for the Phase 2 asset PTC518, valued at $2,900 million with a substantial upfront payment of $1,000 million.

2024年12月，全球医药市场共签署了94项资产授权和合作协议。中国市场达成34项交易，包括17项出海交易、7项引进交易和10项国内交易。

本月中国市场最引人注目的出海交易是翰森授予默沙东临床前资产HS-10535的全球权益，首付款1.12亿美元，总价值20.12亿美元。值得关注的引进交易是信达与礼来就已获批资产pirtobrutinib达成的中国大陆商业化协议。最领先的国内交易是百济神州获得石药集团临床一期肿瘤资产SYH2039的全球权益，首付款1.5亿美元，总价值18.35亿美元。

国际市场上，12月份共签署了60项资产授权和合作协议。最大的一笔交易是诺华引进PTC Therapeutics 临床二期资产PTC518，首付款10亿美元，总价值29亿美元。

2. Licensing Deals

2a. Out-Licensing Deals

2b. In-Licensing Deals

2c. Domestic Licensing Deals

3. Top Deals of the year 2024

4. 2019-2023 China Innovative Drug Licensing Transactions

About YAFO Capital

Founded in 2013, YAFO Capital is a Shanghai-based boutique investment and advisory firm, with a professional team in our China, U.S., EU, and SEA offices. Partnering with Pharmaceutical companies, YAFO Fund mainly invests in global assets. YAFO Life Sciences is a leading advisory boutique focused on asset transactions. YAFO has built a strong proven track record and closed dozens of in-licensing and out-licensing transactions with global pharma and biotech companies. Over the past five years, YAFO has been ranked as the No. 1 advisor for China cross-border licensing transactions. For more information, please visit http://www.yafocapital.com
雅法资本成立于2013年，作为新型投资和投行咨询机构，致力于中国及海外生物医药项目的投融资、资产跨境交易和资产孵化等。旗下雅法基金联合药企进行资产投资和并购，雅法全球医疗专注于医药产品跨境及国内授权交易。基于雅法在全球广泛的人脉与资源网络，在过去十年成功推进了大量的海外项目进入中国市场并协助多个中国产品完成海外授权。雅法拥有经验丰富的全球交易团队，覆盖美国、日本、欧洲等全球主要医药创新区域。核心合伙人均为华尔街资深投行人士或具有跨国药企经历，为客户交易提供强力支持。雅法总部位于上海，在美国、欧洲、东南亚等地均设有分部。雅法在生物医药跨境授权及并购业务交易数量连续多年排名第一。

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