In October 2025, the global biopharmaceutical sector remained highly active, with innovation-driven collaborations and mergers & acquisitions continuing to heat up. Major deals were struck across diverse areas—including antibody drugs, ADCs, RNA therapeutics, AI-driven drug discovery, autoimmune diseases, gene editing, drug delivery, and neurological disorders—reflecting sustained investor and industry confidence in the biopharma landscape. The following is a summary of key deals categorized by field.
1. Autoimmune Diseases
- InnoCare × Zenas BioPharma (October 8)
A global licensing deal worth over $2 billion. Zenas obtained rights to orelabrutinib (BTK inhibitor) for multiple sclerosis (MS) and other non-oncology indications, while also introducing IL-17AA/AF inhibitors and a brain-penetrant TYK2 inhibitor to expand its autoimmune pipeline.
- Bristol Myers Squibb (BMS) × insitro (October 14)
An expanded partnership based on insitro’s AI drug discovery platform ChemML, valued at over $2.02 billion. The collaboration focuses on developing novel small-molecule therapies for ALS, leveraging QAL datasets and AI-driven closed-loop workflows to accelerate target translation.
- Novo Nordisk × Omeros (October 15)
Acquisition of the MASP-3 antibody drug zaltenibart for $2.1 billion, targeting PNH, kidney diseases, and other complement-mediated immune disorders.
- Verici Bio × Dianthus Therapeutics (October 16)
A collaboration worth up to $38 million to jointly develop LBL-047, a bispecific fusion protein targeting BDCA2/TACI, for the treatment of autoimmune diseases.
- EVOQ Therapeutics × Sanofi (October 16)
A $500 million partnership to develop new autoimmune therapies. EVOQ’s NanoDisc platform is designed to restore immune tolerance for diseases such as celiac disease, type 1 diabetes, rheumatoid arthritis (RA), and lupus.
- Qyuns Therapeutics × Roche (October 28)
A global exclusive partnership valued at $1.07 billion to co-develop QX031N, a bispecific antibody targeting TSLP and IL-33, for the treatment of COPD and asthma.
2. Antibody–Drug Conjugates (ADCs)
- AimedBio × Boehringer Ingelheim (October 15)
A preclinical ADC licensing agreement valued at $991 million, focusing on the development of multiple solid tumor therapies.
- Hansoh Pharma × Roche (October 17)
Roche acquired the global rights to HS-20110, a CDH17-targeting ADC, with an upfront payment of $80 million and potential milestone payments up to $1.45 billion.
- Innovent Biologics × Takeda (October 22)
A $11.4 billion collaboration, covering multiple assets including IBI363 (a PD-1/IL-2α bispecific fusion protein), IBI343 (a CLDN18.2 ADC currently in Phase III), and IBI3001 (an EGFR×B7-H3 ADC).
- Syndivia × GSK (October 27)
A $360 million licensing deal for SDV2102, an ADC candidate targeting PSMA (DAR=1), developed for metastatic castration-resistant prostate cancer (mCRPC).
3. Neurology & Ophthalmology
- Suzhou Xingming Youjian × AviadoBio (October 9)
A $413 million collaboration on UGX-202, an optogenetic gene therapy aimed at restoring retinal photoreceptor function.
- Viatris × Aculys Pharma (October 15)
Viatris acquired CNS therapy assets including Pitolisant (a histamine H3 receptor inverse agonist) and Spydia, both targeting narcolepsy treatment.
- Eli Lilly × Adverum Biotechnologies (October 24)
A $262 million acquisition of Ixo-vec, an anti-VEGF gene therapy for wet AMD, designed to achieve long-term aflibercept expression via a single intravitreal injection.
- Novartis × Avidity Biosciences (October 26)
A $12 billion acquisition of Avidity’s AOCs™ platform and its neuromuscular disease therapies—the largest RNA-based deal of the year.
- Alkermes × Avadel Pharmaceuticals (October 22)
A $2.1 billion acquisition of LUMRYZ, an extended-release sodium oxybate formulation for the treatment of narcolepsy.
4. RNA Therapeutics
Arbor Biotechnologies × Chiesi Group (October 6)
A $2 billion collaboration to develop ABO-101, a gene-editing therapy combining Cas12i2 nuclease with LNP delivery, for the treatment of primary hyperoxaluria type 1 (PH1).
BMS × Orbital (October 10)
A $1.5 billion acquisition of Orbital, a circular RNA company, whose lead program OTX-201 is a next-generation CAR-T therapy targeting autoimmune diseases.
- GSK × Empirico (October 28)
A $745 million siRNA licensing deal to develop EMP-012, a COPD therapy targeting inflammatory pathways, designed to benefit non–Type 2 inflammation patients.
5. AI-Driven and Computational Drug Discovery
- AstraZeneca × Algen Biotechnologies (October 6)
A $555 million collaboration leveraging AI for gene therapy discovery.
- Nabla Bio × Takeda (October 14)
A generative AI–based antibody design partnership valued at over $1 billion, aimed at accelerating new drug discovery and optimization.
6. Drug Delivery & Formulation Innovation
- Halozyme Therapeutics × Elektrofi (October 1)
A $900 million acquisition of Elektrofi and its Hypercon™ technology, enabling high-concentration (400–500 mg/ml) injectable formulations to strengthen Halozyme’s biologics delivery platform.
- Rani Therapeutics × Chugai Pharmaceutical (October 17)
A $1 billion collaboration to develop oral antibody formulations based on the RaniPill platform, offering an alternative to injectable therapies.
7. Gene & Cell Editing Therapies
- PreGene (Prigen) Biotech × Kite Pharma (Gilead) (October 16)
A $1.64 billion licensing collaboration to jointly advance in vivo gene-editing therapies, accelerating the translation of next-generation cell therapies.
8. Monoclonal Antibody Therapies
- BioCryst × Astria Therapeutics (October 14)
A $920 million acquisition of Astria Therapeutics, whose lead asset Navenibart, a long-acting plasma kallikrein inhibitor antibody, is developed for the prevention of hereditary angioedema (HAE) attacks.
- Ipsen × ImCheck Therapeutics (October 22)
An $1.16 billion acquisition of ImCheck Therapeutics, centered on ICT01, a BTN3A/CD277-targeting antibody for first-line AML treatment.
- ModeX Therapeutics × Regeneron (October 29)
A $1+ billion partnership leveraging ModeX’s MSTAR platform to develop multispecific antibodies capable of targeting multiple disease pathways simultaneously.
9. Metabolic & Cardiovascular Diseases
- Akero Therapeutics × Novo Nordisk (October 9)
A $5.2 billion acquisition agreement, centered on efruxifermin (EFX), an FGF21-Fc fusion protein developed for the treatment of MASH (metabolic-associated steatohepatitis).
- Novartis × Tourmaline Bio (October 28)
A $1.4 billion acquisition of Pacibekitung, an IL-6 antibody for the treatment of atherosclerotic cardiovascular diseases.
- Novo Nordisk × Metsera (October 30)
A $9 billion acquisition proposal to obtain incretin and non-incretin analog programs, further strengthening Novo Nordisk’s position in obesity and diabetes.
10. Ophthalmology–Metabolic Crossover
- AskGene Pharma × Visara (October 17)
A licensing deal for ASKG712, a bispecific VEGF×ANG-2 antibody, designed to improve vascular stability and reduce retinal inflammation.
- 4D Molecular Therapeutics × Otsuka Pharmaceutical (October 30)
A $421 million collaboration to develop 4D-150, a gene therapy for wet AMD and DME based on AAV vector technology.
- Everest Medicines × Visara (October 30)
A $706 million (approx. $97 million) agreement granting exclusive development rights for VIS-101 (VEGF-A×ANG-2 bispecific antibody) across multiple Asian countries.
11. Other Major Deals & Industry Mergers
Thermo Fisher Scientific × Clario (October 28)
A proposed $10 billion all-cash acquisition of Clario, a clinical trial data management company, marking the largest M&A deal since 2021.
In October 2025, the biopharmaceutical deal landscape continued to demonstrate strong innovation momentum and investment activity. From early-stage R&D collaborations to late-stage clinical acquisitions, strategic partnerships across the industry deepened, reflecting an accelerating reshaping of the global biopharma ecosystem. Looking ahead, as new targets and technologies continue to emerge, collaboration and investment in biotherapeutics are expected to maintain robust growth and vitality.
