Vol.52, 2025 YAFO Weekly Global Wrap-up Report 雅法全球生物医药交易周报

2025-05-19

1. Summary of the Week

From May 12 to 16, a total of 11 biopharma deals were announced globally. Within China’s biotech sector, one out-licensing agreement and two domestic deals were reported.

CSPC Pharma and Cipla signed an out-licensing deal for the approved asset irinotecan liposome, featuring a $15 million upfront payment and a total deal value of $1.065 billion. The leading domestic deal was between Westlake University and InnoCarePharma for an innovative drugs R&D partnership, valued at $7.5 million.

On the global front, eight deals were announced. The week’s top global deal was the acquisition of efimosferminalfa by Boston Pharmaceuticals from GSK, with a $1.2 billion upfront payment and a total deal value of $2 billion.

2025年5月12-16日，全球医药市场共签署了11项资产授权和合作协议。中国市场共达成3项交易，包括1项出海交易和2项国内交易。

本周的出海交易是石药集团与Cipla公司就已获批资产伊立替康脂质体在美国的商业化达成独家许可协议，首付款1500万美元，总价值10.65亿美元。本周值得关注的国内交易是诺诚健华与西湖大学在创新药物研发等方面建立合作，总价值750万美元。

国际市场上，本周共签署了8项资产授权和合作协议。首付款最大的一项交易是GSK收购Boston Pharmaceuticals资产efimosferminalfa，首付款12亿美元，总价值20亿美元。

2. Licensing Deals

2a. China Section

2b. Global Section

3. Top Deals of 2025

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。

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