Major Biopharma Deals in July-August 2026: ADCs, Autoimmune Disease & Emerging Platforms

Global biopharma dealmaking remained active throughout July and August 2026, spanning major acquisitions, licensing agreements and platform collaborations. ADCs, autoimmune and metabolic diseases, CNS programs, RNA technologies, AI-driven drug discovery and in vivo CAR-T were among the most active areas.

• July 6 | Genentech × Astex | $490M+ (Breast Cancer Small-Molecule Program)

Genentech entered into an exclusive research collaboration and license agreement for an Astex small-molecule breast cancer program targeting a key cell-cycle regulatory mechanism. The specific molecular target has not been disclosed.

• July 6 | Novartis × Myricx Bio | $1.5B (NMTi ADCs and Payload Platform)

Novartis acquired Myricx Bio to gain its next-generation N-myristoyltransferase inhibitor (NMTi) ADC payload platform and two lead ADC programs. The NMTi payload approach targets NMT1/2 and is designed to provide potent tumor-cell killing with a differentiated mechanism from conventional ADC payloads.

• July 14 | AstraZeneca × Dizal Pharma | $1.5B (Sunvozertinib)

AstraZeneca licensed rights to sunvozertinib (Zegfrovy), Dizal Pharma’s irreversible EGFR tyrosine kinase inhibitor. The drug targets multiple EGFR mutations, including EGFR exon 20 insertions, and is being developed for non-small cell lung cancer (NSCLC).

• July 21 | Qilu Pharmaceutical × TYK Medicines | RMB 2.76B (TY-9591)

Qilu Pharmaceutical acquired rights to TY-9591, a third-generation EGFR-TKI developed by TYK Medicines. The drug targets EGFR sensitizing mutations and resistance-associated mutations such as T790M for the treatment of EGFR-mutant NSCLC.

• July 30 | Pharmanovia × IMPACT Therapeutics | €423.5M (Senaparib)

Pharmanovia acquired commercialization rights to senaparib (IMP4297), a PARP1/2 inhibitor developed by IMPACT Therapeutics. By disrupting DNA damage repair in tumor cells, senaparib is being developed for ovarian, fallopian tube and primary peritoneal cancers.

• August 4 | Pathos AI × Alphamab Oncology | $2.218B (TROP2 × HER3 Bispecific ADC JSKN016)

Pathos AI licensed JSKN016, Alphamab Oncology’s bispecific ADC targeting TROP2 and HER3. The dual-targeting design is intended to broaden tumor-cell coverage and enhance ADC internalization and payload delivery in solid tumors, including triple-negative breast cancer.

• August 10 | Sobi × Innate Pharma | $580M (Lacutamab)

Sobi acquired rights to lacutamab, an antibody targeting KIR3DL2. The target is highly expressed in certain cutaneous T-cell lymphomas, including Sézary syndrome, enabling antibody-mediated elimination of KIR3DL2-positive malignant T cells.

• August 11 | Allist Pharmaceuticals × ArriVent | ~$80.6M (MUC16 × NaPi2b Tetravalent Bispecific ADC)

ArriVent licensed ARR-002/AV-P138-ADC, a tetravalent bispecific ADC targeting MUC16 and NaPi2b. Both antigens are expressed in gynecologic tumors, and the dual-targeting approach is designed to improve tumor coverage and payload delivery in ovarian, endometrial and other solid tumors.

• August 13 | IASO Bio × MediSix Therapeutics | Undisclosed (PEBL and CD7 CAR-T Platform)

IASO Bio acquired MediSix Therapeutics and its PEBL T-cell engineering technology and CAR-T assets. The lead program, IASO107, targets CD7, while PEBL technology helps prevent the fratricide associated with targeting CD7 on T-cell malignancies.

• August 20 | UroGen × IntraGel | Undisclosed (SRGel Local Drug-Delivery Platform)

UroGen licensed IntraGel’s SRGel sustained-release platform and the TumoCure local cisplatin program, with options for additional oncology assets. Rather than targeting a specific protein, the technology is designed to maintain high local drug exposure while reducing systemic toxicity.

• August 28 | Genentech × DualityBio | $1.045B+ (DUPAC ADC Platform)

Genentech partnered with DualityBio to develop oncology programs using the DUPAC ADC platform. The collaboration focuses on novel payload and ADC technologies, while the specific tumor-associated targets have not yet been disclosed.

• July 1 | Fosun Wanbang × Junshi Biosciences | RMB 1.34B (IL-17A Antibody JS005)

Fosun Wanbang acquired development and commercialization rights to JS005, Junshi Biosciences’ anti-IL-17A monoclonal antibody. By blocking IL-17A-driven inflammatory signaling, the antibody is being developed for psoriasis, ankylosing spondylitis and other autoimmune diseases.

• July 2 | United Therapeutics × Thymmune Therapeutics | $300M (iPSC-Derived Thymic Cell Therapy THY-100)

United Therapeutics acquired Thymmune to gain THY-100 and its iPSC-derived thymic cell platform. The technology aims to restore T-cell development and immune function and is being explored for congenital athymia, immune deficiencies and immune tolerance.

• July 14 | Spero Therapeutics × Innovent Biologics | ~$1.1B (CD40L Antibody IBI355)

Spero licensed IBI355/SP001, Innovent’s Fc-silent anti-CD40L antibody. The drug blocks CD40-CD40L co-stimulatory signaling to suppress abnormal B- and T-cell activation and is being developed for Sjögren’s disease, IgG4-related disease and other autoimmune conditions.

• July 14 | Avere Therapeutics × Hansoh Pharma | $2.3B (IL-23R Oral Cyclic Peptide AVR-001)

Avere licensed Hansoh Pharma’s HS-20118, renamed AVR-001. The oral cyclic peptide targets IL-23R and is designed to inhibit IL-23 signaling with a convenient oral modality for psoriasis and other IL-23-driven inflammatory diseases.

• July 14 | Avere/NextCure | $320M PIPE (IL-23R Program AVR-001)

NextCure and Avere Therapeutics announced a reverse merger centered on Avere’s IL-23R program AVR-001. The combined company secured approximately $320 million in PIPE financing to advance development; the financing should not be interpreted as the acquisition consideration.

• July 16 | Jasper/Kira | $132M PIPE (Autoimmune Pipeline)

Jasper Therapeutics and Kira Pharmaceuticals agreed to an all-stock merger supported by approximately $132 million in PIPE financing. The combined pipeline covers complement biology, CD79B × CD32B and KIT/CD117, with a focus on autoimmune diseases.

• July 27 | argenx × Forte Biosciences | ~$2.2B (CD122 Antibody FB102)

argenx acquired Forte Biosciences and its lead antibody FB102, which targets CD122, the shared IL-2/IL-15 receptor β subunit. The program is being developed for autoimmune diseases including vitiligo and celiac disease.

• July 29 | Johnson & Johnson × Sail Biomedicines | Up to ~$3.505B (In Vivo CAR-T Platform)

Johnson & Johnson partnered with Sail Biomedicines around its eRNA and targeted nanoparticle platform for in vivo CAR-T generation in immune-mediated diseases. The potential value includes upfront payments, equity investment, milestones and a future acquisition option rather than a single traditional licensing payment.

• July 29 | Caldera/Synlogic | $278M PIPE (TL1A × IL-23p19 Bispecific Antibody CLD-423)

Caldera Therapeutics and Synlogic announced a reverse merger centered on CLD-423, a bispecific antibody targeting TL1A and IL-23p19. The program simultaneously blocks two key inflammatory pathways for diseases such as IBD, with the combined company backed by $278 million in PIPE financing.

• August 10 | Almirall × CrystalO Biopharma | ~€254.5M (Ion Channel Drug Discovery Platform)

Almirall partnered with CrystalO to discover novel ion-channel modulators for medical dermatology. The collaboration aims to identify small molecules capable of modulating ion-channel activity and cellular ion homeostasis, although the specific targets remain undisclosed.

• August 18 | LEO Pharma × Tanabe Pharma | At Least $435M (MC1R Agonist Dersimelagon)

LEO Pharma licensed dersimelagon (MT-7117), an oral selective MC1R agonist. Activation of melanocortin-1 receptor is designed to increase tolerance to light exposure in patients with erythropoietic protoporphyria and X-linked protoporphyria.

• August 25 | Sentivera × Haisco Pharmaceutical | ~$1.536B (Preclinical Autoimmune Program)

Sentivera licensed overseas development and commercialization rights to a preclinical autoimmune candidate from Haisco. The drug and molecular target have not yet been disclosed.

• July 1 | QuantumCell × AlzeCure Pharma | $2.2B+ (NeuroRestore/ACD856)

QuantumCell acquired rights to AlzeCure’s NeuroRestore program and ACD856. The program modulates TrkA and TrkB neurotrophin receptor signaling to enhance NGF- and BDNF-related neuroplasticity and neuroprotection in Alzheimer’s disease and other neurodegenerative disorders.

• July 7 | Zhejiang CONBA Pharmaceutical × Adneuris | $111.5M (NOP/MOR Agonist Cebranopadol)

CONBA licensed Greater China rights to cebranopadol from Adneuris. The analgesic acts on both the NOP and μ-opioid receptors (MOR), providing a dual mechanism for treating moderate-to-severe pain.

• July 13 | CMS Pharma × Insilico Medicine | RMB 1.2B (AI-Driven CNS Drug Discovery)

CMS Pharma and Insilico Medicine partnered to discover novel CNS drugs using generative AI technologies including Pharma.AI. Specific drug candidates and targets have not yet been disclosed.

• July 16 | Eli Lilly × AtaiBeckley | $3.8B (BPL-003)

Eli Lilly acquired AtaiBeckley and its lead psychiatric asset BPL-003, a mebufotenin benzoate formulation acting primarily through serotonin receptors including 5-HT2A. The program is being developed for treatment-resistant depression and other psychiatric disorders.

• August 10 | Jazz Pharmaceuticals × Actio Biosciences | $1.32B (KCNT1 Inhibitor ABS-1230)

Jazz acquired Actio Biosciences and ABS-1230, which targets the KCNT1 potassium channel. Gain-of-function KCNT1 mutations can cause severe neuronal hyperexcitability and early-onset epilepsy, making the channel a genetically validated therapeutic target.

• August 21 | Werewolf/Ambros | $150M PIPE (Neridronate)

Werewolf Therapeutics and Ambros Therapeutics announced a reverse merger focused on advancing neridronate for complex regional pain syndrome type 1. The combined company was supported by $150 million in PIPE financing.

• August 26 | SK Biopharmaceuticals × Biohaven | $795M (Kv7.2/Kv7.3 Program)

SK Biopharmaceuticals licensed opakalim/BHV-7000 and related Kv7 programs from Biohaven. BHV-7000 activates Kv7.2/Kv7.3 potassium channels to reduce neuronal hyperexcitability and is being developed for focal epilepsy and other neurological disorders.

• July 6 | Vertex × Crinetics Pharmaceuticals | ~$10B (SSTR2/MC2R Endocrine Pipeline)

Vertex acquired Crinetics and its endocrine portfolio, including paltusotine and atumelnant. Paltusotine targets SSTR2 for acromegaly, while atumelnant targets MC2R, the ACTH receptor, for disorders including congenital adrenal hyperplasia and Cushing’s syndrome.

• July 9 | Rani Therapeutics × PegBio | Undisclosed (RaniPill Oral Biologics Platform)

Rani and PegBio partnered to combine metabolic and obesity biologics with the RaniPill oral delivery platform. The technology is designed to deliver proteins and peptides through the intestinal wall, potentially converting injectable biologics into oral therapies.

• August 10 | Menarini × Gan & Lee Pharmaceuticals | €726M (GLP-1R Agonist GZR18)

Menarini licensed bofanglutide/GZR18, a long-acting GLP-1 receptor agonist developed by Gan & Lee. The drug promotes insulin secretion, suppresses appetite and delays gastric emptying for obesity and related metabolic disorders.

• August 12 | PTC Therapeutics × Sangamo Therapeutics | $211M (Fabry Gene Therapy ST-920)

PTC acquired ST-920, a gene therapy for Fabry disease. The AAV-based therapy delivers a functional GLA gene to the liver, enabling sustained production of α-galactosidase A to address the underlying enzyme deficiency.

• August 18 | BioMarin × Alesta Therapeutics | $490M (HPP Program ALE1)

BioMarin acquired Alesta Therapeutics and its lead program ALE1 for hypophosphatasia. The oral therapy is designed to improve abnormal bone mineralization by modulating inorganic pyrophosphate homeostasis.

• August 24 | Genentech × Hanmi Pharmaceutical | ~$2.3B (CRF2 Agonist HM17321)

Genentech licensed HM17321, a long-acting UCN2 analog from Hanmi. By activating CRF2/CRHR2, the program aims to regulate energy expenditure, adipose tissue and muscle metabolism as a differentiated approach to obesity beyond GLP-1.

• July 2 | AstraZeneca × CSPC Pharmaceutical Group | $1.77B (Renal siRNA Programs)

AstraZeneca partnered with CSPC on two siRNA programs for kidney disease and related delivery technologies. The programs use RNA interference to selectively suppress disease-causing genes, while CSPC also contributes its siRNA discovery and extrahepatic delivery capabilities.

• July 17 | Dimerix × Mission Therapeutics | $292M (USP30 Inhibitor MTX652)

Dimerix licensed MTX652, a small-molecule inhibitor of the mitochondrial deubiquitinase USP30. The drug is designed to improve mitochondrial quality control and clearance of damaged mitochondria in acute kidney injury and related conditions.

• July 22 | Royalty Pharma × Neurimmune | $425M (Cliramitug Royalty Rights)

Royalty Pharma acquired a portion of Neurimmune’s future royalties from cliramitug (NI006/ALXN2220). The antibody targets pathological TTR amyloid fibrils and promotes their clearance in transthyretin amyloid cardiomyopathy.

• August 12 | Royalty Pharma × Zealand Pharma | $100M (Rusfertide Economic Rights)

Royalty Pharma acquired certain economic rights associated with rusfertide. The hepcidin mimetic regulates the hepcidin-ferroportin iron homeostasis pathway to reduce excess iron availability and erythrocyte production in polycythemia vera.

• July 8 | AstraZeneca × Chia Tai Tianqing | $2.1B (PDE3/PDE4 Inhibitor TQC3721)

AstraZeneca licensed TQC3721, an inhaled dual PDE3/PDE4 inhibitor from Chia Tai Tianqing. The compound combines bronchodilatory and anti-inflammatory activity and is being developed for COPD and other chronic respiratory diseases.

• August 11 | Sentynl/Zydus × Mereo BioPharma | At Least $475M (Alvelestat)

Sentynl and Zydus obtained option and license rights to alvelestat, an oral neutrophil elastase inhibitor from Mereo. By reducing excessive protease-mediated lung damage, the drug is being developed for alpha-1 antitrypsin deficiency-associated lung disease.

• July 8 | Tarsus Pharmaceuticals × iRenix Medical | $565M (IRX-101)

Tarsus acquired iRenix Medical and its ophthalmic antimicrobial program IRX-101. The locally administered broad-spectrum antimicrobial is designed to reduce infection risk associated with invasive ophthalmic procedures such as intravitreal injections.

• August 6 | Tarsus Pharmaceuticals × Alkeus Pharmaceuticals | $800M (ALK-001)

Tarsus acquired Alkeus and gildeuretinol/ALK-001, a deuterated form of vitamin A for Stargardt disease. The therapy is designed to slow retinal degeneration by reducing the formation and accumulation of toxic vitamin A dimers and lipofuscin.

• July 1 | Ipsen × Memo Therapeutics | €700M+ (BKV Antibody Potravitug)

Ipsen acquired Memo Therapeutics and its lead antibody potravitug. The antibody neutralizes BK polyomavirus and is being developed for BKV infection and BKV-associated nephropathy in kidney transplant recipients.

• August 19 | Eli Lilly × Amplitude Therapeutics | Undisclosed (taRNA Vaccine Platform)

Lilly partnered with Amplitude Therapeutics to develop vaccines using its trans-amplifying RNA (taRNA) technology. The platform enables intracellular RNA amplification, potentially generating high antigen expression at lower doses.

• July 2 | Takeda × Insilico Medicine | ~$600M (Pharma.AI Collaboration)

Takeda partnered with Insilico Medicine to discover and optimize multiple drug candidates using the Pharma.AI platform. Generative AI will be applied across target identification, molecular generation, property prediction and candidate optimization.

• August 3 | Curium × Lantheus | ~$8B (Radiopharmaceutical Platform)

Curium and Lantheus announced a major transaction combining their radiopharmaceutical diagnostic and therapeutic businesses. Lantheus’ portfolio includes the PSMA-targeted PET imaging agent PYLARIFY and spans oncology, neurology and cardiovascular disease.

• August 12 | Eli Lilly × Sangamo Therapeutics | $50M (Gene Regulation and Delivery Technologies)

Lilly acquired selected Sangamo technology and R&D assets, including AAV capsids, zinc-finger protein engineering, MINT gene-regulation technology and programs such as ST-506. The technologies enable targeted regulation of disease-associated genes, with ST-506 involving the PRNP/prion protein pathway.

• August 17 | Sandoz × Henlius | $322M (mAb/ADC Biosimilars)

Sandoz and Henlius entered a multi-product strategic collaboration covering up to 10 monoclonal antibody and/or ADC biosimilars. Initial programs include HLX05-N, HLX16 and a belimumab biosimilar, targeting EGFR, PCSK9 and BAFF/BLyS, respectively.

• August 17 | Eli Lilly × OmniAb | At Least $370M (Ion Channel Antibody Program)

Lilly and OmniAb launched a new ion-channel antibody discovery and development collaboration. OmniAb will identify functional antibodies against a selected ion-channel target, while Lilly will lead subsequent development and commercialization; the specific channel and indication remain undisclosed.

Biopharma dealmaking in July and August remained concentrated in ADCs, autoimmune disease, metabolic disorders and CNS programs. ADC activity increasingly extended beyond individual tumor targets to bispecific formats, novel payloads and platform technologies, while GPCRs and ion channels continued to attract interest across multiple therapeutic areas. At the same time, large pharma companies stepped up investment in AI drug discovery, siRNA delivery, in vivo CAR-T and RNA platforms, reflecting a dual focus on acquiring high-value assets and securing technologies that can generate future pipelines.