2025-04-22
1. Summary of the Week
Between April 14 and 18, a total of 20 agreements were finalized. Within China’s biotech industry, this included four out-licensing deals and three domestic partnerships.
The leading out-licensing deal in China was between VelaVigo and Ollin Biosciences for VBS102, with a total deal value of $440 million.
On the global scale, 13 deals were signed during the same period. The largest was between Earendil Labs and Sanofi for HXN-1002 and HXN-1003, valued at $1.845 billion, including an upfront payment of $125 million.
2025年4月14-18日，全球医药市场共签署了20项资产授权和合作协议。中国市场共达成7项交易，包括4项出海交易和3项国内交易。
本周值得关注的出海交易是橙帆医药向Ollin Biosciences授权一款双特异性抗体药物VBS102，总金额4.4亿美元。
国际市场上，本周共签署了13项资产授权和合作协议。最大的一笔交易是Sanofi获得Earendil Labs（华深智药海外公司）两款双抗药物HXN-1002与HXN-1003的全球独家权益，首付款1.25亿美元，总金额18.45亿美元。
2. Licensing Deals
2a. China section
2b. Global section
3. M&A Deals
4. Top Deals of 2025
5. 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, the 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’s 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
Event Name:
2025-06 ACCESS CHINA @ Boston Forum, Boston
BioToChina.org 