Plus deals involving Shionogi/ Grünenthal, CR Biopharma/ImmVira, Elevation Oncology/CSPC, Everest Medicines/TTY Biopharm and Dr. Reddy’s/Slayback

During Q2, biopharma merger and acquisition value reached $25.4bn and drew in $27.3bn in potential deal value from alliances. Device company M&A values reached $2.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $534.3m.

Following rapid R&D growth in the area, China now has roughly 40 drug candidates targeting Claudin 18.2 across various modalities including monoclonal antibodies, antibody-drug conjugates and bispecific antibodies, with a number of contenders now striking international licensing-out deals in a bid to get ahead of rivals.

Four Chinese biotech companies reach in- and out-licensing deals covering antibody drug conjugates, small molecules and vaccines as they continue to pursue and develop innovation.