Shots:Transition Bio has entered into a drug discovery collaboration & license option agreement with Voyager Therapeutics to identify & develop selective small molecules targeting TDP-43 pathology in amyotrophic lateral sclerosis (ALS) & frontotemporal dementiaAs per the deal, Transition Bio will discover & optimize TDP-43–targeting small molecules, after which Voyager may license exclusive global…
Shots:Merck Enters into Research and Development Funding Agreement with Blackstone Life Sciences to support development of sac-TMT, currently in 15 global P-III trials across multiple cancers, including breast, endometrial, and lungAs per the deal, Blackstone will provide Merck $700M to help fund sac-TMT development through 2026. In return, Blackstone is eligible for low-to-mid…
Shots:Boehringer Ingelheim and CDR-Life signed a global licensing deal to develop CDR111, a trispecific M-gager T-cell engager targeting and depleting B cells to help reset the immune system in autoimmune diseasesAs per the deal, CDR-Life could receive up to CHF 456M (~$570M), including CHF 38M (~$ 48M) upfront and near-term payments, plus tiered…
Shots:ModeX & Regeneron entered into a license & collaboration agreement to develop multispecific antibodies across cancer and metabolic, combining ModeX’s MSTAR platform with Regeneron’s antibody bindersRegeneron will fund & lead all development & commercialization in exchange for $7M upfront, plus future product selection, clinical, regulatory, & commercial milestones over $200M per molecule, with…
Shots:Takeda & Innovent Biologics have entered into a global Partnership (Excluding Greater China) to develop & Commercialize IBI363 & IBI343; Takeda also Gains exclusive Option to license global rights for IBI3001 outside of Greater ChinaAs per the deal, Takeda will pay Innovent $1.2B upfront, including a $100M equity investment, funded from cash on…
Shots:insitro & BMS have extended their 5yr. collaboration (2020) to discover novel small molecule therapies for ALS using insitro’s AI-enabled ChemML platformThe 1yr. extension will focus on developing therapies for a novel ALS target identified preclinically, with insitro receiving ~$20M in new funding & remaining eligible for discovery, development, regulatory, & commercial milestones…
Shots:Nabla Bio has entered into a multi-year research collaboration with Takeda to advance AI-driven design of protein therapeutics, leveraging Nabla Bio’s Joint Atomic Model (JAM)Nabla Bio will deploy its proprietary JAM platform across Takeda’s early-stage programs to enable de novo antibody design for multiple targets, multi-specifics, challenging targets, & custom therapeuticsAs per the…
Shots:Algen has entered into a multi-target collaboration with AstraZeneca to accelerate novel immunology target discovery, leveraging the AlgenBrain platformAs per the deal, AstraZeneca will receive exclusive rights to develop and commercialize therapies for selected targets identified through the partnership in exchange for ~555M incl. upfront, development, regulatory & commercial milestone payments AlgenBrain models disease…
Shots:Chiesi Group has entered into an exclusive global collaboration & license deal with Arbor for ABO-101 in primary hyperoxaluria type 1 (PH1) & a multitarget option to use Arbor’s gene editing platform for developing liver-targeted therapies for rare diseasesAs per the deal, Chiesi will obtain exclusive rights to develop & commercialize ABO-101 for PH1…
Shots: Q3’25 was marked by major pharma and biotech M&A, led by BD’s $17.5B Reverse Morris Trust deal merging its Biosciences & Diagnostic Solutions unit with Waters, and Merck’s ~$10B acquisition of Verona Pharma The quarter spotlighted collaborations, notably GSK’s ~$12.5B agreement with Hengrui Pharma to co-develop up to 12 novel therapies across multiple disease areas. PharmaShots brings…

