Celltrion and iProgen will co-develop ADC candidates, Miracogen and Synaffix sign a technology license after a successful research collaboration, and WuXi will provide clinical trial material to NBE Therapeutics.

Merck could pay up to $167m to try a new epigenetic target, which would build on its existing HDAC inhibitor. Meanwhile, Celgene buys epigenetics-focused Acetylon, which will spin out new company Regenacy to work with its lead HDAC6 inhibitor outside of oncology.

Acucela, a US venture specializing in ophthalmic disorders, is planning to raise up to $125m in an initial public offering in Tokyo to support the development and commercialization of its pipeline.

The Japanese venture Oncolys BioPharma has floated on the Mothers high-tech market of the Tokyo Stock Exchange, raising around JPY4.7bn ($46m) to develop its pipeline of drugs and diagnostics for cancer and serious infections.