Vol.40, 2024 YAFO Weekly Global Wrap-up Report 雅法全球生物医药交易周报

2025-1-20

1. Summary of the week

From January 11 to 17, a total of 31 licensing and cooperation deals were signed globally, with nine agreements coming from the China Biotech industry. These included 5 out-licensing deals, 1 in-licensing deal, and 3 domestic transactions.

Among the key highlights, Simcere and AbbVie entered into an out-licensing and option agreement for the Phase 1 asset SCR-8572, with undisclosed upfront payment, and option fees & milestone payments of up to $1.055 billion. The only in-licensing deal was between Orna Therapeutics and Shanghai Simnova Biotechnology, focused on an anti-BCMA in-vivo CAR therapy. The most significant domestic deal was between DualityBio and 3SBio for the oncology Phase III asset DB-1303, valued at $67 million, with $25 million paid upfront.

Globally, 22 licensing and cooperation deals were finalized during the same period. The standout global transaction was between Leo Pharma and Gilead Sciences for the oral STAT6 program, with a total deal value of $1.7 billion and an upfront payment of $250 million.

2025年1月11日-17日，全球医药市场共签署了31项资产授权和合作协议。中国市场共达成9项，包括5项出海交易、1项引进交易和3项国内交易。

本周中国市场最引人注目的出海交易是先声药业与Abbvie就临床一期三抗TCE资产SCR-8572达成的许可选择交易，先声药业将获得首付款，以及最高10.55亿美金的选择性权益付款和里程碑付款。本周唯一的引进交易是先博生物扩大与Orna Therapeutics的战略合作关系，涵盖BCMA体内CAR-T疗法。本周最值得关注的国内交易是映恩生物与三生制药就HER2 ADC三期资产DB-1303达成的授权交易，首付款2500万美元，总价值6700万美元。

国际市场上，本周共签署了22项资产授权和合作协议。最大的一笔交易是Gilead Sciences引进LEO Pharma口服STAT6抑制剂，首付款2.5亿美元，总价值17亿美元。

2. Licensing Deals

2a. China section

2b. Global section

3. M&A Deals

4. Top Deals of 2024

5. 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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