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NEWS

Arrowhead Pharmaceuticals Licenses ARO-PNPLA3 to Madrigal Pharmaceuticals in a ~$1B Deal

Shots: Arrowhead has granted Madrigal an exclusive global license to ARO-PNPLA3, a RNAi therapeutic designed to reduce liver expression of PNPLA3 as a potential treatment of metabolic dysfunction-associated steatohepatitis As per the deal, Arrowhead will receive $25M upfront & ~$975M in development, regulatory, & sales milestones, with tiered royalties ranging from high-single digits to the…
May 6, 2026

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BioCryst Partners with Irish Affiliate of Neopharmed Gentili in ~$345M EU Commercialization Deal for Navenibart

Shots: BioCryst Pharmaceuticals has entered into a license agreement with an Irish affiliate of Neopharmed Gentili, granting the latter exclusive rights to commercialize navenibart for hereditary angioedema (HAE) in the EU As per the deal, BioCryst will receive $70M upfront & up to $275M in regulatory & sales milestone payments as well as tiered royalties…
May 4, 2026

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Cue Biopharma Licenses Ascendant-221 from Ascendant Health Sciences in a ~$691.5M Deal

Shots: Cue Biopharma has entered into an exclusive license agreement with Ascendant Health Sciences to develop, manufacture and commercialize Ascendant-221 for the treatment of allergic diseases As per the deal, Cue will obtain global rights (excl. Greater China) to develop & commercialize Ascendant-221 in exchange for $15M upfront license fee, ~$676.5M in development, regulatory &…
May 1, 2026

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Huahui Health and BeOne Medicines Partner for HH160 in a ~$2.02B Deal

Shots: Huahui Health has entered into a global exclusive option, license & collaboration agreement, granting BeOne an exclusive option for the development, manufacturing, & commercialization of HH160, a novel trispecific antibody in oncology immunotherapy As per the deal, Huahui will receive $20M upfront, $100M upon exercising the option, & ~$1.9B in development, regulatory & sales milestones, as well as tiered…
April 30, 2026

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Kestrel Therapeutics Inks AbbVie Deal Worth up to $1.45B with Option to Acquire

Shots: Kestrel has entered into a strategic agreement with AbbVie, structured as a warrant deal, granting AbbVie an exclusive option to acquire Kestrel upon achievement of key development milestones As per the deal, AbbVie will fund development of KST-6051, with an exclusive option to acquire Kestrel based on development & regulatory milestone completion, representing the…
April 29, 2026

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Profluent Signs ~$2.25B Pact with Eli Lilly to Advance AI-Designed Recombinases for Genetic Medicines

Shots: Profluent has entered into a multi-program strategic research collaboration with Eli Lilly to develop & commercialize custom site-specific recombinases to address diseases with unmet needs As per the deal, Profluent will use its AI models to design & optimize site-specific recombinases for multiple genomic targets, while Lilly will gain exclusive rights to selected assets…
April 29, 2026

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Thermo Fisher Scientific to Divest Microbiology Unit to Astorg for ~$1.08B

Shots: Thermo Fisher Scientific has agreed to sell its microbiology business to Astorg for ~$1.075B, incl. cash & a $50M seller note, as part of its portfolio optimization strategy The divested unit, which offers antimicrobial susceptibility testing and culture media solutions, generated $645M in revenue in 2025 and operates within Thermo Fisher’s Specialty Diagnostics segment…
April 28, 2026

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Merck Partners with Google Cloud in ~$1B Deal to Build AI-Enabled Enterprise Platform

Shots: Merck partnered with Google Cloud in a multi-year deal worth up to $1B to deploy an AI-driven agentic platform across R&D, manufacturing, commercial, and corporate functions The collaboration will integrate advanced AI tools, incl. Gemini Enterprise, to enhance productivity, digitize data, & support Merck’s global workforce of ~75,000 employees The partnership aims to accelerate…
April 23, 2026

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