2025-03-03
1. Executive Summary of the Month
In February, 56 deals were signed globally. Within China’s biotech industry, there were 6 in-licensing deals, 6 out-licensing deals, and 6 domestic deals.
The most notable out-licensing agreement of the month was between Henlius Biotech and Dr. Reddy’s Laboratories for HLX15 (a daratumumab biosimilar) in Phase I. The deal totaled $132 million, with an upfront payment of $33 million.
Globally, 38 deals were signed. The most significant was a licensing and option agreement between Stoke Therapeutics and Biogen for zorevunersen and ASO products targeting SCN1A. The deal was valued at $550 million, with an upfront payment of $165 million.
2025年2月，全球医药市场共签署了56项资产授权和合作协议。中国市场共达成18项，包括6项出海交易、6项引进交易和6项国内交易。
本月中国市场最大的交易是复宏汉霖与Dr. Reddy’s就临床一期资产HLX15（达雷妥尤单抗生物类似药）达成的出海交易，首付款3300万美元，总价值1.32亿美元。
国际市场上，本月共签署了38项资产授权和合作协议。最大的一笔交易是Biogen引进Stoke Therapetutics一款针对SCN1A基因的ASO药物Zorevunersen，首付款1.65亿美元，总价值5.5亿美元。
2. Licensing Deals
2a. Out-Licensing Deals
2c. Domestic Licensing Deals
3. Top Deals of the Year 2024
4. 2019-2024 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。
ACCESS CHINA
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