2025-06-10
1. Summary of the Week
From June 1 to 6, a total of 21 biotech deals were announced globally. Within the China biotech industry, there were 8 notable transactions, comprising 5 out-licensing deals, 1 in-licensing deal, and 2 domestic agreements.
The standout out-licensing deal in China was between Hansoh Pharmaceutical and Regeneron Pharmaceuticals for the Phase III asset HS-20094. The agreement includes an upfront payment of $80 million, with the total deal value reaching $2.01 billion. In an in-licensing activity, Eisai and Gloria Pharmaceuticals signed an agreement for the approved asset, mecobalamin.
Globally, 13 deals were signed during the same period. The most significant was between BioNTech and Bristol Myers Squibb (BMS) for the Phase III asset BNT327/PM8002. The deal features an upfront payment of $1.5 billion, with a total potential value of $11.1 billion.
2025年6月1-6日，全球医药市场共签署了21项资产授权和合作协议。中国市场共达成8项交易，包括5项出海交易、1项引进交易和2项国内交易。
本周最大的出海交易是翰森制药将GLP-1/GIP双受体激动剂三期资产HS-20094授权给Regeneron，首付款8000万美元，总金额可达20.1亿美元。引进交易方面，誉衡药业获得Eisai已上市药物甲钴胺注射液在中国市场的推广权益。
国际市场上，本周共签署了13项资产授权和合作协议。最值得关注的一项交易是BioNTech与BMS达成全球战略合作，共同开发PD-L1/VEGF双抗三期资产BNT327/PM8002，首付款15亿美元，总金额可达111亿美元。
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, YAFO Fund mainly invests in global assets. YAFO Life Sciences is a leading advisory boutique focused on asset transactions. YAFO has built a stron,g 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
Event Name:
2025-06-15 ACCESS CHINA BD Forum @BIO, Virtual & Boston
BioToChina.org 