Solasia's arsenical drug darinaparsin has received its global-first approval in Japan, for PTCL, in a landmark for the Texan chemist who discovered it back in the 70s and paving the way for wider indications and Asian markets.

Companies such as Novartis, Roche or Takeda are heavily invested in the advanced therapeutics field, usually spreading their bets across multiple modalities. The remaining challenges offer opportunities for the next wave of innovation to transform the field once again and make a dent in the larger market of common diseases and solid tumors.

The market for new company creation in the biopharma sector remains healthy and poised to continue fostering the establishment of start-ups, based on a new In Vivo study of the strong initial investments that pharma and biotech companies receive.

In the top May alliance by deal value, Amphista Therapeutics and Bristol Myers Squibb aim to discover and develop targeted small-molecule protein degraders by leveraging Amphista's proprietary Eclipsys platform. BMS gets exclusive global rights to resulting products. Amphista will receive a $30M upfront payment, up to $1.25B in performance-based milestone payments, payment for a limited expansion of the collaboration, as well as royalties on global net sales.