China’s largest commercial center and pharma industry hub reopens after over two months of strict lockdown.

AbbVie inks collaboration and option deal focused on targeted protein degradation with Plexium. Cend and Calabrius merge in an all-stock transaction.

Heading into the J.P. Morgan Healthcare conference, pharmas have been focusing on discovery alliances. J&J’s deals look into novel tissue-targeted drugs, ionic liquid delivery technology and cancer vaccine R&D. Lilly teams with Entos on novel methods for delivering neurology drugs.

The torpedoed IPO application of a Shanghai-based biotech has already triggered a ripple of unease among venture capitalists in China, with some signaling suspension of investment in similar ventures.