1. Executive Summary of the Month
In June 2026, 139 biopharmaceutical agreements were announced worldwide. In China’s biotech sector, there were 26 out-licensing deals, 8 in-licensing deals, and 18 domestic partnerships.
In China, the largest in-licensing deal involved Dimerix and Everest Medicines for the phase 3 asset repagermanium, with an upfront payment of $10 million and a total deal value of $340 million. The largest out-licensing deal involved Everest Medicines and Travere Therapeutics for the phase 2 asset civorebrutinib, with an upfront payment of $112.5 million and a total deal value of $1.14 billion. The largest domestic deal was between Mabworks Biotech and Everest Medicines for the approved asset obinutuzumab β, including an upfront payment of $3.2 million and a total deal value of $29 million.
Internationally, 87 cross-border deals were reported, with the largest being the agreement between Edgewise Therapeutics and Servier for the muscular dystrophy business, including the phase 2 asset sevasemten, with an upfront payment of $1.55 billion and a total deal value of $2.65 billion.
2026年6月，全球医药市场共签署了139项资产授权和合作协议。中国市场共达成52项交易，包括26项出海交易、8项引进交易和18项国内交易。
国内市场上，本月最大的引进交易是云顶新耀与Dimerix就临床三期资产repagermanium达成独家商业化授权许可协议，首付款1000万美元，总金额可达3.4亿美元；最大的出海交易是云顶新耀与Travere Therapeutics就临床二期资产civorebrutinib达成独家授权许可与合作，首付款1.125亿美元，总金额可达11.4亿美元；最大的国内交易是天广实与云顶新耀就已获批资产obinutuzumab β达成在亚太部分地区的独家商业化许可合作，首付款320万美元，总金额可达2900万美元。
国际市场上，本月共签署了87项资产授权和合作协议。首付款最大的交易是Servier收购Edgewise Therapeutics包括临床二期资产sevasemten在内的肌营养不良症业务，首付款15.5亿美元，总金额可达26.5亿美元。
2. Licensing Deals
China Licensing and Cooperation Deals June 2026
| Deal Type | Licensor | Licensee | Assets | Disease | Stage | Total amount ($ million) |
Upfront ($ million) |
Deal Territory |
|---|---|---|---|---|---|---|---|---|
| China IL |
Dimerix | Everest Medicines 云顶新耀 |
repagermanium | focal segmental glomerulosclerosis (FSGS); COVID-19; diabetic nephropathy (DN) | Phase III | 340 | 10 | Chinese mainland; Hong Kong, Macao and Taiwan; Other |
| China IL |
Opterion Health | Shijiazhuang No.4 SSY Group 石家庄四药 |
OPT101 | chronic kidney disease (CKD); peritoneal dialysis | Phase I | Undisclosed | Undisclosed | Chinese mainland; Other |
| China IL |
Pfizer | Sinopharm Group 国药控股 |
fluconazole | oropharyngeal candidiasis; esophageal candidiasis; vulvovaginal candidiasis (VVC); cryptococcal meningitis; coccidioidomycosis; histoplasmosis; blastomycetic dermatitidis | Approved | Undisclosed | Undisclosed | Chinese mainland |
| China IL |
Ingenium Therapeutics | Refiorire Bio 睿芙细胞 |
gengleucel | acute myeloid leukaemia (AML) | Phase II | Undisclosed | Undisclosed | Chinese mainland; United States; Other |
| China IL |
Verge Genomics (Verge Labs) | Tenacia Biotechnology 元羿生物 |
AI platform and CNS targets analysis | disorder of nervous system | Undisclosed | Undisclosed | Undisclosed | Global |
| China IL |
Eli Lilly | Innovent Biologics 信达生物 |
abemaciclib | Gastroenterology; Anaesthesiology; Haematology; Musculoskeletal; Psychiatry; Oncology; Rare Diseases | Approved | Undisclosed | Undisclosed | Chinese mainland |
| China IL |
Accutar Biotechnology | Sunshine Lake Pharma 东阳光药 |
RIPTAC program | castration-resistant prostate cancer (CRPC) | Pre-Clinical | Undisclosed | Undisclosed | Global |
| China IL |
Stanford University | Simcere Pharmaceutical Group 先声药业 |
IPF program | idiopathic pulmonary fibrosis (IPF) | Pre-Clinical | Undisclosed | Undisclosed | Global |
China Licensing and Cooperation Deals June 2026
| Deal Type | Licensor | Licensee | Assets | Disease | Stage | Total amount ($ million) |
Upfront ($ million) |
Deal Territory |
|---|---|---|---|---|---|---|---|---|
| China OL |
Everest Medicines 云顶新耀 |
Travere Therapeutics | civorebrutinib | B-cell lymphoma; pemphigus; IgA nephropathy (IgAN); nephropathy; minimal change nephrotic syndrome; neuromyelitis optica (NMO); autoimmune disease; systemic lupus erythematosus (SLE); multiple sclerosis (MS); focal segmental glomerulosclerosis (FSGS); idiopathic membranous nephropathy (IMN); proteinuria | Phase II | 1,142.5 | 112.5 | United States; Europe; Other |
| China OL |
METiS Therapeutics 剂泰医药 |
Boulevard Bio | MTS-128 | autoimmune disease | Pre-Clinical | 1,620 | 20 | Global |
| China OL |
Laekna Therapeutics 来凯医药 |
Vasque Bio | LAE118 | cancer; solid tumor | Phase I | 527 | 10 | United States; Europe; Japan; Other |
| China OL |
Haisco Pharmaceutical 海思科 |
Eli Lilly | A maximum of five innovative drug projects targeting multiple targets | Undisclosed | Pre-Clinical | 3,054 | Undisclosed | United States; Europe; Japan; Other; Global |
| China OL |
Insilico Medicine 英矽智能 |
SK Biopharma | drug candidates for neuroimmune indications | disorder of nervous system | Pre-Clinical | 2,500 | Undisclosed | Global |
| China OL |
Antengene 德琪医药 |
K2 Therapeutic | ATG-106; Undisclosed bispecific T-cell engager candidate drug | ovarian cancer; oncology; kidney cancer oncology | Pre-Clinical | 1,961 | Undisclosed | United States; Europe; Japan; Other |
| China OL |
Haisco Pharmaceutical 海思科 |
Nuvectis Pharma | HSK42360; HSK39297 | Oncology; Rare Diseases; Ophthalmology; Hematology; Immunology; Genitourinary | Phase I; Filed | 1,461 | Undisclosed | United States; Europe; Japan; Other |
| China OL |
TrueLab Biopharmaceutical 帆礼生物 |
Bionyra | TL-001 (BYN-002); TL-003 | inflammatory bowel disease; ulcerative colitis | Phase I | 985 | Undisclosed | United States; Europe; Japan; Other |
| China OL |
XtalPi 晶泰科技 |
Undisclosed | GPCR target oral small molecule | unknown/to be determined | Pre-Clinical | 400 | Undisclosed | Global |
| China OL |
GenAssist Therapeutics 新芽基因 |
Circio | gene therapy for hereditary muscle diseases; in vivo CAR-T cell therapy for cancer | muscular disease; cancer | Pre-Clinical | Undisclosed | Undisclosed | Global |
| China OL |
Chime Biologics 鼎康生物 |
Daewoong Pharmaceutical | dupilumab biosimilar | unknown/to be determined | Pre-Clinical | Undisclosed | Undisclosed | Global |
| China OL |
Boan Biotech 博安生物 |
Undisclosed | dulaglutide biosimilar | type 2 diabetes | Approved | Undisclosed | Undisclosed | United States |
| China OL |
Formosa Pharmaceuticals 台新药 |
Samil | APP13007 (clobetasol propionate nanoparticle) | cataract; ocular postoperative inflammation; ocular postoperative pain | Approved | Undisclosed | Undisclosed | Other |
| China OL |
WestGene Biopharma 威斯津生物 |
Cartesian Therapeutics | in vivo CAR T; BCMA targeting TCE | myasthenia gravis (MG); autoimmune disease | Pre-Clinical | Undisclosed | Undisclosed | Global |
Source: YAFO Life Sciences Research
China Licensing and Cooperation Deals June 2026
| Deal Type | Licensor | Licensee | Assets | Disease | Stage | Total amount ($ million) |
Upfront ($ million) |
Deal Territory |
|---|---|---|---|---|---|---|---|---|
| China OL |
Shuangcheng Pharmaceuticals 双成药业 |
Undisclosed | SC-C141 | unknown/to be determined | Pre-Clinical | Undisclosed | Undisclosed | United States |
| China OL |
CStone Pharmaceuticals 基石药业 |
Arrotex | sugemalimab | Haematology; Rare Diseases; Oncology | Approved | Undisclosed | Undisclosed | Other |
| China OL |
VectorBuilder 云舟生物 |
MaxCyte | next-generation ex vivo gene delivery platform | Undisclosed | Undisclosed | Undisclosed | Undisclosed | Global |
| China OL |
Abbisko Therapeutics 和誉医药 |
Eli Lilly | Innovative drug project for multiple targets | Undisclosed | Pre-Clinical | Undisclosed | Undisclosed | Global |
| China OL |
YolTech Therapeutics 尧唐生物 |
Serapha Bio | YOLT-202 | α1 antitrypsin deficiency (A1ATD) | Phase I | Undisclosed | Undisclosed | United States; Europe; Japan; Other |
| China OL |
Taihe Chunyu Biotechnology 泰禾春雨 |
BioAuraGen | Dual-target CAR T therapy; Next-generation dual-target CAR-T cell therapy platform technology | oncology | Pre-Clinical | Undisclosed | Undisclosed | Hong Kong, Macao and Taiwan; United States; Europe; Japan; Other |
| China OL |
Alphamab Oncology 康宁杰瑞 |
Nanolek | armocibart | haemophilia; von Willebrand disease | Phase III | Undisclosed | Undisclosed | Other |
| China OL |
Newsoara Biopharma 恒翼生物 |
cAMPfield Therapeutics | HPP737 | idiopathic pulmonary fibrosis (IPF); plaque psoriasis; atopic dermatitis; chronic obstructive pulmonary disease (COPD); psoriasis | Phase III | Undisclosed | Undisclosed | United States; Europe; Japan; Other |
| China OL |
Luzhou Longitudinal Pharmaceutical 泸州步长生物 |
MKT; Morning International Trading 早安国际 |
adalimumab biosimilar | ankylosing spondylitis (AS); rheumatoid arthritis (RA) | Filed | Undisclosed | Undisclosed | Other |
| China OL |
Zhaoke Ophthalmology 兆科眼科 |
PT. Erela | cyclosporine A ophthalmic gel | dry eye syndrome (DES) | Filed | Undisclosed | Undisclosed | Other |
| China OL |
Walvax Biotechnology 沃森生物 |
Gold Astrum LLC | High-quality vaccine products | Undisclosed | Undisclosed | Undisclosed | Undisclosed | Other |
| China OL |
KriSan Biotech 建谊生技 |
Mabion | ADC drugs | Undisclosed | Pre-Clinical | Undisclosed | Undisclosed | Chinese mainland; Hong Kong, Macao and Taiwan; Europe; Japan; Other |
Source: YAFO Life Sciences Research
China Licensing and Cooperation Deals June 2026
| Deal Type | Licensor | Licensee | Assets | Disease | Stage | Total amount ($ million) |
Upfront ($ million) |
Deal Territory |
|---|---|---|---|---|---|---|---|---|
| China Domestic |
Mabworks Biotech 天广实 |
Everest Medicines 云顶新耀 |
obinutuzumab β | Neurology; Haematology; Rare Diseases; Immunology; Dermatology; Oncology; Genitourinary | Approved | 293.2 | Undisclosed | Hong Kong, Macao and Taiwan; Other |
| China Domestic |
Vcare PharmaTech 威凯尔 |
Everest Medicines 云顶新耀 |
vicagrel | peripheral arterial disease (PAD); myocardial infarction; ischemic stroke; acute coronary syndrome (ACS); stroke; percutaneous coronary intervention (PCI); transient ischemic attack (TIA); atherosclerosis (AS); coronary heart disease (CHD); thrombotic diseases | Filed | Undisclosed | 3 | Hong Kong, Macao and Taiwan; Other |
| China Domestic |
PrimeGene 普祺医药 |
Simcere Pharmaceutical Group 先声药业集团 |
pumecitinib | seasonal allergic rhinitis (SAR); prurigo; atopic dermatitis; prurigo nodularis; allergic rhinitis; dystrophic epidermolysis bullosa (DEB); vitiligo; radiation dermatitis; epidermolysis bullosa (EB); solar dermatitis | Filed | 28 | Undisclosed | Chinese mainland; Other |
| China Domestic |
Guiyang University of Traditional Chinese Medicine 贵州中医药大学 |
Tongjitang Pharmaceutical 同济堂 |
JiSheQuShi | pain | Pre-Clinical | 2 | Undisclosed | Global |
| China Domestic |
Junshi Biosciences 君实生物 |
Zhiyu Biomedical 致域生物 |
The antibody development technology for targeting three products in the field of tumor treatment; ADC platform technology | oncology | Undisclosed | Undisclosed | Undisclosed | Global |
| China Domestic |
Immunocan 伊米诺康 |
MabGalaxy 迈博智星 |
Bispecific/Multispecific Antibody Drugs | Undisclosed | Pre-Clinical | Undisclosed | Undisclosed | Global |
| China Domestic |
Biomap 百图生科 |
MegaStream | AI technology; Harbour Mice platform based AI antibody drugs | unknown/to be determined | Pre-Clinical | Undisclosed | Undisclosed | Global |
| China Domestic |
Harbour BioMed 和铂医药 |
MegaStream | fully human antibody platform; Harbour Mice platform based AI antibody drugs | unknown/to be determined | Undisclosed | Undisclosed | Undisclosed | Global |
| China Domestic |
Morning Gold Medicine 金辰医药 |
Kingworld Medicines 金活医药集团 |
modified gastrodia brain-health formula; zizhu leaf cleansing solution | insomnia; headache; dizziness; burn injury; pressure ulcers; diabetic foot | Pre-Clinical | Undisclosed | Undisclosed | Chinese mainland; Other |
| China Domestic |
Guangzhou University of Traditional Chinese Medicine 广州中医药大学 |
Morning Gold Medicine 金辰医药 |
zizhu leaf cleansing solution; modified gastrodia brain-health formula | burn injury; pressure ulcers; diabetic foot; insomnia; headache; dizziness | Pre-Clinical | Undisclosed | Undisclosed | Global |
Source: YAFO Life Sciences Research
China Licensing and Cooperation Deals June 2026
| Deal Type | Licensor | Licensee | Assets | Disease | Stage | Total amount ($ million) |
Upfront ($ million) |
Deal Territory |
|---|---|---|---|---|---|---|---|---|
| China Domestic |
Corxel Pharmaceuticals 箕星药业 |
Everest Medicines 云顶新耀 |
aceclidine | glaucoma or ocular hypertension; presbyopia | Approved | Undisclosed | Undisclosed | Chinese mainland; Hong Kong, Macao and Taiwan |
| China Domestic |
Institute of Microbiology, Chinese Academy of Sciences 中国科学院微生物研究所 |
Shanghai Juntuo Biotech 上海君拓生物 |
quadrivalent recombinant dengue fever vaccine | dengue fever | Pre-Clinical | Undisclosed | Undisclosed | Global |
| China Domestic |
Xinfeng Pharmaceutical 欣峰制药 |
NeuroGen Pharma 神基制药 |
SXF-102 (brexpiprazole oral fast dissolving film) | schizophrenia | Filed | Undisclosed | Undisclosed | Global |
| China Domestic |
Everest Medicines 云顶新耀 |
Herui Pharmaceutical 合瑞制药 |
budosenide enteric capsules | colitis; IgA nephropathy (IgAN); proteinuria; nephritis; Crohn’s disease; end stage renal disease (ESRD) | Approved | Undisclosed | Undisclosed | Chinese mainland |
| China Domestic |
CellOrigin 赛元生物 |
Walvax Biotechnology 沃森生物 |
In vivo CAR therapy based on the mRNA-LNP technology platform | solid tumor | Pre-Clinical | Undisclosed | Undisclosed | Global |
| China Domestic |
Youseen New Drug R&D 玉森新药 |
Jumpcan Pharmaceutical Group 济川药业集团 |
BaQiRouGan (granules) | hepatic fibrosis | Pre-Clinical | Undisclosed | Undisclosed | Unknown |
| China Domestic |
Longhai Pharmaceutical 龙海药业 |
SSY Group 石家庄四药 |
evolocumab biosimilar; dupilumab biosimilar; ustekinumab biosimilar; aflibercept biosimilar | unknown/to be determined | Pre-Clinical | Undisclosed | Undisclosed | Global |
| China Domestic |
Xinzheng Heying 鑫正合盈 |
SSY Group 石家庄四药 |
A Class 2.2 antispasmodic suitable for children; A Class 2.3 drug targeting chronic obstructive pulmonary disease | gastrointestinal spasm; bile duct spasms; chronic obstructive pulmonary disease (COPD) | Pre-Clinical | Undisclosed | Undisclosed | Global |
Source: YAFO Life Sciences Research
Global Licensing and Cooperation Deals June 2026
| Deal Type | Licensor | Licensee | Assets | Disease | Stage | Total amount ($ million) | Upfront ($ million) | Deal Territory |
|---|---|---|---|---|---|---|---|---|
| Asset Acquisition | Edgewise Therapeutics | Servier | sevasemten | limb girdle muscular dystrophy (LGMD); muscular dystrophy; Duchenne muscular dystrophy (DMD); Becker’s muscular dystrophy (BMD) | Phase II | 2,650 | 1,550 | Global |
| Collaboration; License | Nurix Therapeutics | Roche | bexobrutideg | Haematology; Rare Diseases; Immunology; Oncology | Phase III | 2,300 | 700 | Global; United States; Chinese mainland; Hong Kong, Macao and Taiwan; Europe; Japan; Other |
| Collaboration; Option | Antares Therapeutics | Novartis | FIC small molecular cancer therapy | cancer | Undisclosed | 1,905 | 105 | Global |
| Collaboration; License; Option | AbCellera | Jazz Pharmaceuticals | two multispecific TCE programs; third multispecific TCE programs | oncology | Pre-Clinical | 2,460 | 84 | Global |
| Collaboration | Orionis Biosciences | Novartis | Allo-Glue program | unknown/to be determined | Undisclosed | 1,440 | 40 | Global |
| Collaboration; Investment | Inceptive | Alnylam Pharmaceuticals | RNAi therapy program | unknown/to be determined | Pre-Clinical | 2,000 | 30 | Global |
| Collaboration | BioArctic | Eli Lilly | neurodegeneration drug candidate; BrainTransporter™ platform | neurodegenerative disease | Pre-Clinical | 800 | 30 | Global |
| License | Ionis Pharmaceuticals | Recordati | zilganersen | Alexander disease | Filed | Undisclosed | 30 | Chinese mainland; Hong Kong, Macao and Taiwan; Europe; Japan; Other |
| License; Option | Oscotec | Agios Pharmaceuticals | cevidoplenib | immune thrombocytopenia; rheumatoid arthritis (RA) | Phase II | 665 | 25 | Global |
| License | AlzeCure Pharma | Eli Lilly | ACD680 | Alzheimer’s disease (AD) | Pre-Clinical | 1,000 | 10 | Global |
| Collaboration; License; Option | CytomX Therapeutics | Regeneron Pharmaceuticals | conditionally active bispecific antibodies; PROBODY platform | cancer | Pre-Clinical | 4,000 | Undisclosed | Global |
| Collaboration | JCR Pharmaceuticals | Acumen Pharmaceuticals | sabirnetug | dementia in Alzheimer’s disease; mild cognitive impairment (MCI); Alzheimer’s disease (AD) | Phase II | 555 | Undisclosed | Global |
| Collaboration; Option; License | Engitix | GSK | Novel therapeutic targets for liver fibrosis reversal | pulmonary fibrosis | Pre-Clinical | 214 | Undisclosed | Global |
| Collaboration; License; Option; Investment | Alpha Tau | Tolmar | Alpha DaRT | vulvar cancer; cutaneous squamous cell carcinoma (CSCC); cancer; skin cancer; squamous cell carcinoma of the head and neck (SCCHN); pancreatic cancer; solid tumor; oral cancer; breast cancer; lung cancer; glioblastoma multiforme (GBM); soft tissue sarcoma (STS); liver metastasis; pulmonary hypertension due to lung diseases or hypoxemia; cutaneous metastasis; prostate cancer; head and neck cancer | Approved | 196.5 | Undisclosed | United States |
Source: YAFO Life Sciences Research
Global Licensing and Cooperation Deals June 2026
| Deal Type | Licensor | Licensee | Assets | Disease | Stage | Total amount ($ million) | Upfront ($ million) | Deal Territory |
|---|---|---|---|---|---|---|---|---|
| Collaboration | Moderna | CEPI | BDBV mRNA vaccine | Ebola virus infection | Pre-Clinical | 50 | Undisclosed | Global |
| Collaboration | Immunai | Boehringer Ingelheim | new T-cell target discovery program | autoimmune disease; cancer | Pre-Clinical | 15 | Undisclosed | Global |
| Collaboration | University of Oxford | CEPI | ChAdOx1 BDBV vaccine | Ebola virus infection | Pre-Clinical | 9 | Undisclosed | Global |
| Collaboration | International AIDS Vaccine Initiative | CEPI | rVSV BDBV vaccine | Ebola virus infection | Pre-Clinical | 3.2 | Undisclosed | Global |
| Divestiture | MindMaze Therapeutics | Undisclosed | RLF-OD032 (sapropterin oral suspension) | phenylketonuria (PKU) | Phase I | 3 | Undisclosed | United States; Other |
| License; Collaboration | ExCellThera; Cordex | Medexus Pharmaceuticals | dorocubicel | hematopoietic stem cell transplantation (HSCT); multiple myeloma (MM); sickle cell disease (SCD); myeloid malignancies; acute leukemia; hematologic malignancies; myelodysplastic syndrome (MDS) | Approved | 2 | Undisclosed | Other |
| Collaboration | University of Texas Southwestern Medical Center | IDEfine | EHMT1 gene replacement therapy | Kleefstra syndrome | Pre-Clinical | 0.31 | Undisclosed | Global |
| Collaboration | AriBioLab Vaccine Institute | Samjin Pharmaceutical | CVI-HBV-001; CVI-VZV-001; CVI-HBV-002; Development of multiple vaccine pipelines | herpes zoster; hepatitis B; chronic hepatitis B | Phase II | Undisclosed | Undisclosed | Other |
| Collaboration | hVIVO | Decoy Therapeutics | lead D-MAV candidates | Undisclosed | Pre-Clinical | Undisclosed | Undisclosed | United States; Europe; Other |
| Collaboration | Novorex | Preclina | New drug development | Undisclosed | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | Lilly TuneLab | Axcelead Drug Discovery Partners | AI-driven drug discovery and development | Undisclosed | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration; License; Option | LabGenius | LG Chem | EVA antibodies | oncology | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | LG AI Research | D&D Pharmatech | oral peptide drug | unknown/to be determined | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | AbClon | GC Biopharma | in vivo CAR-T | oncology | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | Samsung Medical Center | Samsung Bioepis | AI-driven Therapeutic Technologies and Novel Drug Target Research Platform | Undisclosed | Undisclosed | Undisclosed | Undisclosed | Other |
| Collaboration | Crafton Biotechnology | FunPep | PureCap mRNA vaccine | unknown/to be determined | Pre-Clinical | Undisclosed | Undisclosed | Global |
| License | Luminopia | Rohto Pharmaceutical | Luminopia One | strabismus; amblyopia | Approved | Undisclosed | Undisclosed | Japan |
| Collaboration | Kite Pharma | Cencora | axicabtagene ciloleucel; brexucabtagene autoleucel | Hematology; Rare Diseases; Immunology; Oncology | Approved | Undisclosed | Undisclosed | United States |
| Collaboration | Cradle Bio | Lundbeck | Two antibody programs for CNS diseases; AI-powered protein engineering platform | disorder of nervous system; brain disease | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration; License; Option | Ascidian Therapeutics | Eli Lilly | monogenic kidney disease therapy program; RNA exon editing technology | nephropathy | Pre-Clinical | Undisclosed | Undisclosed | Global |
Source: YAFO Life Sciences Research
Global Licensing and Cooperation Deals June 2026
| Deal Type | Licensor | Licensee | Assets | Disease | Stage | Total amount ($ million) | Upfront ($ million) | Deal Territory |
|---|---|---|---|---|---|---|---|---|
| Collaboration | Moberg Pharma | Karo Pharma | MOB-015 (terbinafine) | erythema; onychomycosis | Approved | Undisclosed | Undisclosed | Chinese mainland |
| License | University of California, Los Angeles | FloBiotech | DDL-357 | Alzheimer’s disease (AD) | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | FunPep | Toyochem | Topical absorption formulation of antibody-induced peptides | Undisclosed | Undisclosed | Undisclosed | Undisclosed | Japan |
| Collaboration | Mayo Clinic | Syntax Bio | allogeneic pancreatic beta cell therapy | type 1 diabetes | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | Liquid Biosciences | Ignite Biomedical | drug target discovery | autism spectrum disorder (ASD); post-traumatic stress disorder (PTSD); drug dependence | Pre-Clinical | Undisclosed | Undisclosed | Global |
| License | University of Copenhagen | HERVolution | HERV-targeting technology for controlling weight gain | obesity; Overweight | Undisclosed | Undisclosed | Undisclosed | Global |
| License | Dong-A ST | Arrotex | cenobamate | status epilepticus (SE); photosensitive epilepsy; GTCS; seizure; epilepsy; focal onset seizure | Approved | Undisclosed | Undisclosed | Other |
| Collaboration | n-Lorem Foundation | Servier | ASO for rare genetic neurodevelopmental disorders | neurodevelopmental disorder | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | BridgeBio Pharma | DKSH | acoramidis | cardiomyopathy; cardiac amyloidosis; ATTR-CM; amyloidosis; TTR amyloidosis; TTR-FAP | Approved | Undisclosed | Undisclosed | Other |
| License | Onconic Therapeutics | Dexa Medica | zastaprazan | reflux esophagitis; duodenal ulcer with hemorrhage; bleeding peptic ulcer; gastric ulcer; gastrointestinal disease; Helicobacter pylori infection; NERD; peptic ulcer; GERD; heartburn | Approved | Undisclosed | Undisclosed | Other |
| Collaboration; License | Protillion Biosciences | Merck & Co. | multi-target drug discovery; Prot-MaP™ platform | Undisclosed | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | Oddifact | Mabion | rituximab biosimilar | diffuse large B-cell lymphoma (DLBCL); rheumatoid arthritis (RA) | Phase III | Undisclosed | Undisclosed | Global |
| License | Innoviva | Dr. Reddy’s Laboratories | durlobactam+sulbactam | infection; other bacterial infections; urinary tract infection (UTI); hospital-acquired bacterial pneumonia (HABP); postoperative infection; ventilator-associated bacterial pneumonia (VABP); Acinetobacter baumannii-calcoaceticus complex infection; acinetobacter baumannii infection | Approved | Undisclosed | Undisclosed | Other |
| License | King’s College London | AviadoBio | vMiX™ RNAi gene silencing platform | Undisclosed | Undisclosed | Undisclosed | Undisclosed | Global |
| Collaboration | Porosome Therapeutics | CSIR | Drug Development and Collaboration | virus infection; Alzheimer’s disease (AD); disorder of nervous system; cystic fibrosis (CF); type 1 diabetes; type 2 diabetes; chronic obstructive pulmonary disease (COPD); lung cancer | Pre-Clinical | Undisclosed | Undisclosed | Global |
| License; Collaboration | Lonza | Antharis Therapeutics | dual-payload, site-specific ADC technology platform; dual-payload ADC program | cancer; gastrointestinal cancer | Undisclosed | Undisclosed | Undisclosed | Global |
| Collaboration; Option | J2H Biotech | SK Chemicals | J2H-1702 | metabolic dysfunction-associated steatohepatitis | Phase II | Undisclosed | Undisclosed | Global |
| Collaboration | Daewoong Pharmaceutical | Arcera | enavogliflozin | HFpEF; diabetic nephropathy (DN); dyslipidemia; type 2 diabetes; obesity; diabetic cardiovascular disease | Approved | Undisclosed | Undisclosed | Other |
| Collaboration | CNX Therapeutics | Legacy Pharma | amifostine | decrease the toxicity associated with platinum-containing agents; radiation-induced xerostomia | Approved | Undisclosed | Undisclosed | United States |
| Option | Elixirgen Therapeutics | Nippon Shinyaku | EXG-7001 | Duchenne muscular dystrophy (DMD) | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration; License | KiOmed | Dongkwang Pharm | KiOmedine vs One (CM-Chitosan) | osteoarthritis (OA) | Approved | Undisclosed | Undisclosed | Other |
| Collaboration | U-Needle | BriaCell Therapeutics | U-Needle’s proprietary microneedle technology; BriaVax | breast cancer; HER2 positive breast cancer; brain metastasis; HER2-low breast cancer; triple negative breast cancer (TNBC); solid tumor | Phase III | Undisclosed | Undisclosed | Global |
| Collaboration | Circio | Tcelltech GmbH | circVec+nanoSMAR in vivo CAR T therapy; circVec+nanoSMAR in vivo TCR T therapy | oncology | Pre-Clinical | Undisclosed | Undisclosed | Global |
| License | LENZ Therapeutics | Arrotex | aceclidine | glaucoma or ocular hypertension; presbyopia | Approved | Undisclosed | Undisclosed | Other |
| Collaboration | VeriGraft | BBG Advanced Therapies | personalized tissue engineered veins | venous insufficiency | Phase II/III | Undisclosed | Undisclosed | United States |
| Collaboration | Peptron | Debiopharm | PAb001 ADC program | cancer | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | Ensol Biosciences | New Korea Industrial | TROP2-targeting PRC program | non-small cell lung cancer (NSCLC) | Pre-Clinical | Undisclosed | Undisclosed | Global |
| License | SmartCella | Heqet | Extroducer® delivery platform | myocardial infarction | Undisclosed | Undisclosed | Undisclosed | Global |
Source: YAFO Life Sciences Research
Global Licensing and Cooperation Deals June 2026
| Deal Type | Licensor | Licensee | Assets | Disease | Stage | Total amount ($ million) |
Upfront ($ million) |
Deal Territory |
|---|---|---|---|---|---|---|---|---|
| Option; Investment | Saturnus Bio | Merck KGaA | Combined targeted gene regulation therapies for rare monogenic hereditary cardiomyopathy | Undisclosed | Undisclosed | 50 | 50 | Global |
| Collaboration | Syntax Bio | Applied StemCell | Cellgorithm™ platform | Undisclosed | Undisclosed | Undisclosed | Undisclosed | Global |
| Asset Acquisition | Pneumagen | NorthLinks Bio | Neumifil | RSV infection; COVID-19; influenza | Phase II | Undisclosed | Undisclosed | Global |
| Asset Acquisition | Sangamo Therapeutics | Eli Lilly | capsid delivery platform; ST-506; zinc finger platform; modular integrase (MINT) platform | prion disease | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Asset Acquisition | Sangamo Therapeutics | Astellas Pharma | isaralgagene civaparvovec | lysosomal storage disease; Fabry’s disease | Filed | Undisclosed | Undisclosed | Global |
| Collaboration; License | Combotope Therapeutics | Boehringer Ingelheim | SMART-Phage™ platform; SMART-Phage antibody | cancer | Pre-Clinical | Undisclosed | Undisclosed | Global |
| License | Genetix Biotherapeutics | SPIMACO | betibeglogene darolentivec | beta-thalassemia; sickle cell disease (SCD) | Approved | Undisclosed | Undisclosed | Other |
| License | NovaRock Biotherapeutics | Bionyra | NBL-023 | ulcerative colitis (UC); asthma; atopic dermatitis; chronic obstructive pulmonary disease (COPD) | IND | Undisclosed | Undisclosed | United States; Europe; Japan; Other |
| License | Lonza | InduPro Therapeutics | GlycoConnect®、HydraSpace® and linker-payload technologies | oncology | Undisclosed | Undisclosed | Undisclosed | Global |
| Collaboration | Hamlet Pharma | University of Iowa | alpha1H | Bowen’s disease; non-muscle invasive bladder cancer (NMIBC) | Phase I/II | Undisclosed | Undisclosed | Global |
| Collaboration | UniQuest | EMIQ | ED-203 | cancer; prostate cancer | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | Iambic Therapeutics | Bayer | Enchant & NeuralPLexer AI technology | Undisclosed | Undisclosed | Undisclosed | Undisclosed | Global |
| Collaboration | Mogam Institute for Biomedical Research | ST Pharm | RNA Design and Optimization Technology | Undisclosed | Undisclosed | Undisclosed | Undisclosed | Global |
| Collaboration | University of Eastern Finland | FDDC | NRF2 inhibitor | inflammatory; cancer; neurodegenerative disease | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration; License | Samsung Bioepis | Organon & Co | ustekinumab biosimilar | Crohn’s disease; psoriatic arthritis (PsA); ulcerative colitis (UC); juvenile psoriatic arthritis (JPsA); plaque psoriasis | Approved | Undisclosed | Undisclosed | Other |
| Collaboration | Alloy Therapeutics | Voro Therapeutics | masked TCE therapy | oncology | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | University of Sao Paulo; FAPESP | Butantan Institute | CAR-T cell therapy for autoimmune diseases | systemic lupus erythematosus (SLE); autoimmune disease; myasthenia gravis (MG) | Pre-Clinical | Undisclosed | Undisclosed | Other |
| License | RaQualia Pharma | Giathera Pharmaceuticals | RQ10 | constipation; gastroparesis | Phase I | Undisclosed | Undisclosed | United States; Europe; Japan; Other |
| License | RaQualia Pharma | Giovel Pharmaceuticals | RQ-00201894 | gastrointestinal motility disorder | Pre-Clinical | Undisclosed | Undisclosed | Global |
| License | Lonza | AmMax | GlycoConnect®, HydraSpace®, and SYNtecan™ linker-payload technologies; AMB-104 | solid tumor; acute myeloid leukaemia (AML) | Pre-Clinical | Undisclosed | Undisclosed | Global |
| License | Paragon Therapeutics | Korsana Biosciences | antibody transport vehicle compounds; KRSA-028 | Alzheimer’s disease (AD) | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration | Wintermute Biomedical | Ego Pharmaceuticals | undecylenic acid | tinea manus; tinea pedis; tinea corporis; tinea cruris; tinea versicolor; herpes zoster | Approved | Undisclosed | Undisclosed | Other |
| License | Chai Discovery | Pfizer | Chai Discovery’s AI platform | Undisclosed | Undisclosed | Undisclosed | Undisclosed | Global |
| License; Collaboration | Lonza | Stipple Bio | ADC technology platform; STP-100 | oncology | Pre-Clinical | Undisclosed | Undisclosed | Global |
| Collaboration; Option | Cincinnati Children’s Hospital Medical Center | Constantiam Biosciences | Gaucher’s disease type III; Gaucher’s disease type II | Gaucher’s disease type III; Gaucher’s disease type II | Pre-Clinical | Undisclosed | Undisclosed | Global |
M&A Deals June 2026
| Status | Acquiree | Acquiror | Acquisition Type | Item | Total amount ($ million) |
Upfront ($ million) |
|---|---|---|---|---|---|---|
| Proposed | Vega Therapeutics | Incyte | Full Acquisition | latarcibart | 2,000 | 1,250 |
| Proposed | Theravance Biopharma | Zymeworks | Full Acquisition | Revefenacin; fluticasone furoate + umeclidinium bromide + vilanterol; ampreloxetine | Undisclosed | 929 |
| Proposed | Kartos Therapeutics | Ipsen | Full Acquisition | navtemadlin | 1,750 | 450 |
| Proposed | Bio-Techne | Merck KGaA | Full Acquisition | Undisclosed | 11,300 | Undisclosed |
| Proposed | Apogee Therapeutics | AbbVie | Full Acquisition | zumilokibart (PR004); APG273; APG333 | 10,900 | Undisclosed |
| Proposed | Nuvalent | GSK | Full Acquisition | Zidesamtinib; NVL-330; neladalkib | 10,600 | Undisclosed |
| Proposed | RayThera | Biogen | Full Acquisition | Undisclosed | 1,000 | Undisclosed |
| Proposed | Firefly Bio | Johnson & Johnson | Full Acquisition | Firelink™ degrader antibody conjugate (DAC) platform | 1,000 | Undisclosed |
| Proposed | AYUMI Pharmaceutical | GNI Group | Full Acquisition | Undisclosed | 300 | Undisclosed |
| Proposed | AprilBio | TKG Huchems | Partial Acquisition | APB-R3; APB-A1 | 225 | Undisclosed |
| Completed | FORUS Therapeutics | PharmaEssentia 药华医药 | Full Acquisition | Selinexor; ropeginterferon alfa-2b | 36.5 | Undisclosed |
| Completed | Azora Therapeutics | Adial Pharmaceuticals | Merger | AT177 | Undisclosed | Undisclosed |
| Proposed | Treeline Biosciences | Standard BioTools | Reverse Takeover | TLN-372; TLN-121; zeprumetostat; TLN-499 | Undisclosed | Undisclosed |
| Completed | 4E Therapeutics | Eli Lilly | Full Acquisition | 4ET1103 | Undisclosed | Undisclosed |
| Proposed | Saturnus Bio | Merck KGaA | Option Acquisition | rare genetic cardiomyopathies program | Undisclosed | Undisclosed |
| Proposed | Serapha Bio | Boundless Bio | Reverse Takeover | Undisclosed | Undisclosed | Undisclosed |
| Proposed | Avenzo Therapeutics | Rallybio | Reverse Takeover | DB-1418; ARTS-021; VBC103; ARTS-023 | Undisclosed | Undisclosed |
| Proposed | Pantherna Therapeutics | T-CURX | Full Acquisition | Undisclosed | Undisclosed | Undisclosed |
| Proposed | Passage Bio | Remix Therapeutics | Merger | REM-422; PBFT02 | Undisclosed | Undisclosed |
2a. In-Licensing Deals
2b. Out-Licensing Deals
2c. Domestic Licensing Deals
3. Top Deals of the Year 2026
Top China Out-Licensing and Cooperation Deals 2026
| Date | Licensor | Licensee | Field | Stage | Total amount ($ million) |
Upfront ($ million) |
|---|---|---|---|---|---|---|
| 2026-01-30 | CSPC Pharma 石药集团 |
AstraZeneca | Endocrine & Metabolic | IND; Pre-Clinical | 18,500 | 1,200 |
| 2026-05-29 | Innovent Biologics 信达生物 |
Pfizer | Oncology | Pre-Clinical | 10,500 | 650 |
| 2026-01-13 | RemeGen 荣昌生物 |
AbbVie | Rare Disease; Oncology | Phase II | 5,600 | 650 |
| 2026-05-12 | Hengrui Pharmaceuticals 恒瑞医药 |
Bristol-Myers Squibb | Haematology; Oncology | Pre-Clinical | 15,200 | 600 |
| 2026-02-08 | Innovent Biologics 信达生物 |
Eli Lilly | Immunology; Oncology | Pre-Clinical | 8,850 | 350 |
| 2026-02-02 | Sanegene Bio 圣因生物 |
Genentech Roche | Unknown / To be determined | Pre-Clinical | 1,700 | 200 |
| 2026-01-12 | SciNeuro Pharma 赛神医药 |
Novartis | Neurology | Pre-Clinical | 1,665 | 165 |
| 2026-03-04 | CTTQ Pharma 正大天晴 |
Sanofi | Hematology; Rare Disease; Immunology; Oncology | Approved | 1,530 | 135 |
| 2026-03-29 | Insilico Medicine 英矽智能 |
Eli Lilly | Endocrine & Metabolic; Unknown / To be determined | Pre-Clinical | 2,750 | 115 |
| 2026-06-02 | Everest Medicines 云顶新耀 |
Travere Therapeutics | Neurology; Hematology; Rare Diseases; Immunology; Dermatology; Oncology; Genitourinary | Phase II | 1,142.5 | 112.5 |
Top China In-Licensing and Cooperation Deals 2026
| Date | Licensor | Licensee | Field | Stage | Total amount ($ million) |
Upfront ($ million) |
|---|---|---|---|---|---|---|
| 2026-05-14 | AriBio | Fosun Pharmaceutical 复星医药 |
Neurology; Cardiovascular; Genitourinary | Approved | Undisclosed | 80 |
| 2026-04-17 | Aligos Therapeutics | Amoytop Biotech 特宝生物 |
Infection; Gastroenterology | Phase II | 445 | 25 |
| 2026-03-09 | Rapport Therapeutics | Tenacia Biotechnology 元羿生物 |
Neurology; Psychiatry | Phase II | 328 | 20 |
| 2026-06-16 | Dimerix | Everest Medicines 云顶新耀 |
Infection; Genitourinary | Phase III | 340 | 10 |
Top China Domestic Licensing and Cooperation Deals 2026
| Date | Licensor | Licensee | Field | Stage | Total amount ($ million) |
Upfront ($ million) |
|---|---|---|---|---|---|---|
| 2026-05-29 | Genrix Bio 智翔金泰 |
YaoPharma 药友制药 |
Hematology; Rare Diseases; Immunology; Dermatology; Oncology | Filed | 253 | 42 |
| 2026-03-23 | Corxel Pharmaceuticals 箕星药业 |
Everest Medicines 云顶新耀 |
Cardiovascular | Approved | 50 | 30 |
| 2026-02-05 | Micot Technology 麦科奥特 |
Everest Medicines 云顶新耀 |
Genitourinary; Endocrine & Metabolic | Phase III | 172.48 | 27.82 |
| 2026-01-17 | Raynovent 众生药业 |
Qilu Pharmaceutical 齐鲁制药 |
Gastroenterology; Respiratory; Endocrine & Metabolic | Phase III | 139.10 | 27.82 |
| 2026-04-28 | Huahui Health 华辉安健 |
BeOne Medicines 百济神州 |
Oncology | Pre-Clinical | 2,024 | 20 |
| 2026-01-12 | Wan Bang De 万邦德 |
Hisoar Pharmaceutical 海翔药业 |
Neurology; Rare Disease | Pre-Clinical | 20.87 | 16.69 |
| 2026-01-06 | Accendatech 尚德药缘 |
Yifan Pharmaceutical 亿帆医药 |
Neurology; Ophthalmology; Respiratory; Hematology; Rare Disease; Immunology; Oncology | Phase III | 20.87 | 13.91 |
| 2026-02-04 | Akeso Biopharma; Kangrong Dongfang 康方生物 |
Jumpcan Pharmaceutical 济川药业 |
Rare Disease; Cardiovascular | Approved | 12.52 | 11.13 |
| 2026-01-20 | Insilico Medicine 英矽智能 |
Hengtai Biotechnology 衡泰生物 |
Neurology | Pre-Clinical | 66 | 10 |
| 2026-01-30 | PrimeGene 普祺医药 |
Jumpcan Pharmaceutical 济川药业 |
Rare Disease; Immunology; Dermatology; Otolaryngology | Phase III | 13.91 | 5.56 |
Top Global Licensing and Cooperation Deals 2026
| Date | Licensor | Licensee | Field | Stage | Total amount ($ million) |
Upfront ($ million) |
|---|---|---|---|---|---|---|
| 2026-03-20 | Synnovation Therapeutics | Novartis | Oncology | Phase I/II | 3,000 | 2,000 |
| 2026-06-01 | Edgewise Therapeutics | Servier | Musculoskeletal; Rare Diseases | Phase II | 2,650 | 1,550 |
| 2026-06-08 | Nurix Therapeutics | Roche | Haematology; Rare Diseases; Immunology; Oncology | Phase III | 2,300 | 700 |
| 2026-03-19 | Corium Therapeutics | Collegium Pharmaceutical | Psychiatry | Approved | 785 | 650 |
| 2026-03-09 | GSK | Alfasigma | Gastroenterology; Rare Disease; Dermatology; Endocrine & Metabolic | Filed | 690 | 300 |
| 2026-02-23 | Vir Biotechnology | Astellas Pharma | Oncology | Phase I/II | 1,705 | 240 |
| 2026-03-23 | Kali Therapeutics | Sanofi | Musculoskeletal; Immunology | Phase I | 1,230 | 180 |
| 2026-05-19 | Hansa Biopharma | Serb SA | Neurology; Rare Diseases; Musculoskeletal; Hematology; Immunology; Endocrinology & Metabolism | Approved | 130 | 124 |
| 2026-06-24 | Antares Therapeutics | Novartis | Oncology | Undisclosed | 1,905 | 105 |
| 2026-02-18 | CSL | Eli Lilly | Respiratory; Gastroenterology; Infection; Rare Disease; Musculoskeletal; Immunology; Cardiovascular; Oncology; Genitourinary; Endocrine & Metabolic | Phase III | Undisclosed | 100 |
4. 2021-2025 China Innovative Drug Licensing Transactions
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