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Deals & financing

M&A, licensing, partnerships and financings: upfronts, milestones and pricing logic.

201 picksRelatedADCs & conjugatesAutoimmuneCardiometabolic

Latest picks

41–58 of 201
Oct 13Tue
  1. BioSpace56

    Pfizer pens $500M+ deal with Enodia to destroy disease-causing proteins

    Pfizer has signed a deal with Paris-based Enodia Therapeutics worth up to $500 million, covering an upfront payment plus research, development and sales milestones, with tiered royalties on net sales. Enodia will screen, optimize and develop small-molecule inhibitors of the Sec61 membrane protein complex, while Pfizer handles clinical studies, manufacturing, regulatory and commercial work. Target indications are not yet specified. Pfizer's venture arm had co-led Enodia's €20.7 million ($25 million) seed round in January.

    Why it matters: Pfizer commits over $500 million to a Sec61-targeting platform less than a year after the biotech's launch.

  3. BioCentury66

    Viatris adds analgesics, pipeline via Pacira takeout: Deals Report

    Viatris will pay nearly $1.7 billion to acquire Pacira, gaining non-opioid analgesics Exparel bupivacaine for acute postsurgical pain and Zilretta sustained-release triamcinolone acetonide for osteoarthritis pain. The two products generated $350.5 million in revenue for Pacira in the first six months of 2026, including $291.1 million from Exparel. The deal comes amid a slow period for biotech M&A.

    Why it matters: Large-cap acquisition adds marketed non-opioid pain products to Viatris' portfolio.

  4. WeChat49

    Aspen Neuroscience Files for $100 Million IPO to Advance Parkinson's Cell Therapy

    Aspen Neuroscience, an autologous cell therapy biotech backed by OpenAI's two co-founders, has filed for an IPO with the SEC under ticker ASPE, seeking to raise $100 million. The funds will mainly advance the phase 1/2a trial of sasineprocel (ANPD001), an iPSC-derived cell therapy for Parkinson's disease, and prepare financing for a planned phase 3 study. Aspen has raised more than $340 million since its founding.

    Why it matters: A backed-by-OpenAI-founders biotech files for a $100 million IPO to fund its Parkinson's cell therapy trials.

Oct 12Mon
  1. BioSpace49

    GSK pledges $800M to add biologics production capabilities in Pennsylvania

    GSK will invest more than $800 million to build an innovation and manufacturing hub in Upper Merion Township, Pennsylvania, adding a biologics production facility, an R&D pilot plant, a centralized quality control lab and a manufacturing science and technology hub. Demolition and construction start next year. Pennsylvania officials expect more than 300 new jobs over five years, with about 4,500 existing jobs retained, and the project is eligible for state tax benefits.

    Why it matters: Large manufacturing investment signals GSK's biologics capacity strategy in the US.

  2. WeChat63

    TRexBio Raises About $116.7 Million in IPO; Eli Lilly to Subscribe at $14.00 Offer Price

    TRexBio, a clinical-stage biotechnology company developing fusion proteins and antibody immunomodulatory drugs based on tissue regulatory T cell (Treg) biology, has completed its IPO. The offering comprised 8,333,334 common shares priced at $14.00 each, raising about $116.7 million (roughly RMB 781 million). Eli Lilly indicated interest in subscribing at the IPO price, which would keep its stake at no more than 19.9% of shares outstanding after the offering.

    Why it matters: Eli Lilly's willingness to buy up to 19.9% at the IPO price signals strategic backing for a clinical-stage Treg developer.

Oct 11Sun
  1. WeChat89

    Novartis Pays $575 Million Upfront for Global Rights to Abogen mRNA T Cell Engager ABO2203

    Novartis has licensed global rights to ABO2203, an mRNA-encoded CD19-targeted T cell engager, from Abogen Biosciences, with an option on follow-on RNA projects. The deal includes $575 million upfront and up to $7.2 billion in milestones, for a total of $7.775 billion. Two weeks before the announcement, a Ruijin Hospital team and Abogen published an exploratory clinical study of the molecule in refractory immune thrombocytopenia in Cell.

    Why it matters: Large biotech-pharma licensing deal signals industry interest in mRNA-encoded T cell engagers.

  2. WeChat69

    Envisagenics and Boehringer Ingelheim Strike Over $1 Billion RNA Splicing Collaboration for Solid Tumours

    Envisagenics and Boehringer Ingelheim entered a multi-year research collaboration and option agreement announced on September 22, 2026, worth more than $1 billion in total. The partners will validate selected tumour-specific targets and develop first-in-class precision therapies for solid tumours, using Envisagenics' AI-driven approach that turns alternative RNA splicing into a drug discovery frontier.

    Why it matters: Large biotech-AI deal targeting RNA splicing for solid tumour therapies.

Oct 10Sat
  1. WeChat64

    TRexBio Raises About $116.7 Million in IPO as Eli Lilly Plans to Subscribe Up to 19.9%

    TRexBio, a clinical-stage biotechnology company developing fusion proteins and antibody immunomodulators based on tissue regulatory T cell (Treg) biology, completed its IPO by offering 8,333,334 ordinary shares at $14.00 per share, raising about $116.7 million (roughly RMB 781 million). Eli Lilly indicated interest in subscribing to shares at the IPO price, which would leave it holding no more than 19.9% of total shares outstanding after the offering. The subscription will complete as the offering settles.

    Why it matters: Treg-focused biotech TRexBio priced its IPO with Eli Lilly taking up to a 19.9% stake.

  2. WeChat69

    Viatris to Acquire Pacira BioSciences for $1.65 Billion in Cash

    Viatris has agreed to acquire Pacira BioSciences for $36.50 per share in cash, an equity value of $1.65 billion, with the deal expected to close by the end of 2026. The acquisition brings two patent-protected, US-marketed products: Exparel, a liposomal bupivacaine injection for postoperative pain, and Zilretta, an extended-release triamcinolone acetonide injection for knee osteoarthritis pain.

    Why it matters: A $1.65 billion cash acquisition that expands Viatris into non-opioid pain treatments.

  4. Reddit59

    Eli Lilly invests in women's health, backing Absci's ABS-201 drug designed to treat endometriosis by modifying its underlying pathogenesis.

    Eli Lilly is backing Absci's ABS-201, a generative AI-designed anti-prolactin receptor antibody for endometriosis, through a $100 million financing that includes a $40 million strategic investment from Lilly. ABS-201 is designed to block prolactin receptors to modify the underlying pathogenesis of endometriosis, and Phase II trials are expected to start in Q4 2026. The support fits Lilly's stated shift toward women's health, funded by GLP-1 profits.

    Why it matters: Big pharma money is moving into endometriosis, an underserved indication, with a named candidate and Phase II date.

Oct 9Fri
  1. BioSpace54

    TRexBio, Retension raise $161.7M in IPOs; City, Iambic set proposed offering terms

    TRexBio raised $116.7 million in its Nasdaq IPO, selling 8.3 million shares at $14 to fund TRB-061, a fusion protein in early-stage development for atopic dermatitis with a Phase 1b topline readout expected mid-2027. Retension Pharmaceuticals raised $45 million at $12 per share to advance RTN-001, a PDE-5 blocker for hypertension, through Phase 2b and into Phase 3. City Therapeutics expects about $158.3 million and Iambic Therapeutics about $135 million from upcoming offerings.

    Why it matters: Four biotech IPOs in one week signal a reopening of the public markets for drug developers.

  2. BioSpace80

    How Abogen went from COVID hype to a $7.8B Novartis deal

    Novartis has taken an exclusive worldwide license to ABO2203, Abogen Biosciences' mRNA-encoded CD19xCD3 T cell engager for B-cell malignancies and autoimmune diseases, paying $575 million upfront with up to roughly $7.2 billion in potential option, milestone and royalty payments. Early data in relapsed or refractory B-cell non-Hodgkin lymphoma showed overall response rates of 33%, 67% and 100% across dose cohorts, with no CRS or ICANS reported. The deal, which also gives Novartis options on further Abogen RNA platform programs, marks Abogen's shift beyond its faded COVID vaccine business.

    Why it matters: Large upfront payment signals big-pharma validation of in vivo mRNA T cell engagers and Abogen's post-COVID pivot.

  3. BioSpace63

    Viatris inks $1.65B Pacira buyout to build non-opioid pain therapy business

    Viatris has agreed to buy Pacira BioSciences for $1.65 billion, or $36.50 per share in cash, to build a non-opioid pain therapy business. The deal adds Exparel, a post-surgical injectable bupivacaine, and Zilretta, an injectable corticosteroid for osteoarthritis knee pain, which generated sales of $587 million and $121 million respectively in the second half of 2025 and first half of this year. Viatris expects to close the takeover by the end of the year, while the FDA is due to rule on its fast-acting meloxicam filing for moderate-to-severe acute pain by Dec. 27.

    Why it matters: Shows how Viatris pairs a $1.65 billion acquisition with a pending FDA decision to build a non-opioid pain franchise.

  4. BioPharma Dive61

    TRex Bio prices $117M IPO to support immune drug work

    TRex Bio priced a $117 million IPO, selling 8,333,334 shares at $14 each, and begins trading Friday on Nasdaq under "TRXB." The company is developing Treg-activating drugs for immunological conditions, including TRB-061, in a Phase 1 trial with topline data expected in 2027, and TRB-071 for inflammatory bowel disease, which could enter testing next year. Eli Lilly, TRex's largest equity holder at about 24% pre-IPO, and Johnson & Johnson have licensed or optioned treatments discovered by TRex, which has raised $220 million in venture financing to date.

    Why it matters: IPO shows continued investor appetite for immune-focused biotechs, with six of 23 drug developers going public in 2026 working on immune diseases.

  5. BioCentury48

    Matchpoint’s $150M tops the week’s private rounds: Venture Report

    Matchpoint Therapeutics, a Watertown, Mass.-based biotech, raised a $150 million series B to take its lead program to proof of concept, four years after a $100 million series A. It was one of at least four companies closing venture rounds of at least $25 million in the past week, while European VC Forbion raised a record €2.3 billion in new funds.

    Why it matters: Matchpoint's $150 million series B was the largest private biotech round of the week, alongside Forbion's €2.3 billion fundraise.

  6. 监管与产业动态54

    Ono pays $80M for regional rights to trio of Biohaven IgG degraders, including phase 3 Grave’s asset - Fierce Biotech

    Ono Pharmaceutical will pay $80 million for regional rights to three of Biohaven's IgG degraders, including one asset in phase 3 development for Graves' disease.

    Why it matters: Japan's Ono pays $80 million for regional rights to three Biohaven IgG degraders, including a phase 3 Graves' disease asset.

CBACBA Frontier Insights (CFI)Chinese Biopharmaceutical Association (CBA)www.cba-usa.org