2025-06-19
1. Summary of the Week
From June 7 to 13, a total of 23 biotech agreements were announced globally. Within the China biotech industry, there were 7 notable deals, comprising 4 out-licensing agreements and 3 domestic transactions.
The leading out-licensing deal of the week was signed between CSPC PHARMA.and AstraZeneca, involving the pre-clinical asset for autoimmune disease. The agreement includes an upfront payment of $110 million and a total deal value of $5,330million.
On the global front, 16 agreements were signed during the same period. The most significant deal was between Philochem and RayzeBio for the Phase I asset 68Ga-OncoACP3. This deal includes an upfront payment of $350 million, with a total potential value of $1.35 billion.
2025年6月7日-13日，全球医药市场共签署了23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。
本周最大的出海交易是石药集团与AstraZeneca达成合作协议，为AstraZeneca所选定的多个靶点发现具有多适应症治疗潜力的临床前候选药物（PCC），包括一种用于免疫疾病的临床前小分子口服疗法，首付款1.1亿美元，总金额可达53.3亿美元。
国际市场上，本周共签署了16项资产授权和合作协议。最值得关注的一项交易是Philochem向BMS子公司RayzeBio授予68Ga-OncoACP3的全球独家权利，首付款3.5亿美元，总金额可达13.5亿美元。
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 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
Event Name:
2025-06-15 ACCESS CHINA BD Forum @BIO, Virtual & Boston
BioToChina.org 