Merck Is Taking a $400 Million Charge for a Preclinical KRAS G12D Drug After Backing Off Revolution
Merck is buying into KRAS G12D at the start line, well behind the company it reportedly tried to buy in January.
Deal Read
Genentech Bets $1.5B+ on Earendil’s Bispecifics With $55M Upfront
The one clean upfront among this week’s discovery deals, and Earendil keeps more of the early clinical risk than most.
Lilly, InnoCare Strike $3.35B Pact, Heavy on Milestones, Light on Upfront
QuickDeal read/Deals Lilly, InnoCare Strike $3.35B Pact, Heavy on Milestones, Light on Upfront Athithi Verma· 24 September 2026· 2 min read· Synopulse InnoCare Pharma, listed in Hong Kong and Shanghai, said on 24 September 2026 that it has signed a strategic research collaboration and licence agreement with Eli Lilly. InnoCare will use its discovery platform … Read more
Henlius Licensed a US pH-Switch Platform for Two T-Cell Engager Targets Without Disclosing Any Payment
Henlius bought a switch, not a molecule, and the deal discloses no dollar figure at all, not even a headline total.
Boehringer’s $1 Billion Cancer Deal Will Pay to Put Envisagenics’ ALS Drug Into the Clinic
Boehringer is buying options on cancer targets. Envisagenics plans to spend the money taking an ALS drug into the clinic.
Novartis’s $900 Million BoomRay Licence Names No Target, No Isotope and No Upfront
Without an upfront, a target or an isotope, BoomRay’s $900 million headline is a ceiling rather than a valuation.
Telix Is Paying $1.65 Billion for ITM Without Handing the Sellers Any Cash at Closing
The sellers receive shares, not cash, at closing, and $450m of the $700m earnout rests on a single year of sales.
Novo’s $1.4 Billion Orbis Deal Does Not Say What It Paid at Signing
The headline has no denominator. Upfront and milestones are stated as one number, which makes the commitment impossible to assess.
Lilly Confirmed the Calculations Were Wrong. A Jury Is Deciding What That Cost Nektar.
Most partnership disputes turn on what data meant. Both sides here accept the published numbers were wrong, and every correction favours the drug.
Roche Paid $190 Million Up Front on a $2.3 Billion Headline for a Phase 1 Obesity Asset
https://synopulse.com/wp-content/uploads/2026/08/Roche-Paid-190-Million-Up-Front-on-a-2.3-Billion-Headline-for-a-Phase-1-Obesity-Asset.webp