Roche’s Hansoh ADC Deal Is Worth Over $15.5 Billion, With $400 Million Upfront for Programmes Still in the Lab
Roche is paying platform money for ADCs that do not exist yet, five times what it paid Hansoh for a clinical asset in 2025.
Deals
Shionogi Paid 29 Times Sales for IntraBio, 17 Days After AQNEURSA’s Second FDA Approval
Shionogi paid about 29 times sales for a drug that gained its second indication 17 days before the deal was signed.
CSL Paid $355 Million and Gave Up 45% of the Profits to Win a Claudin-1 Antibody
No development milestones and no royalty: CSL funds every trial through Phase 3 and gives Alentis 45% of the profits.
Novartis $7.8 Billion Abogen Bet Rests on Efficacy Data From Three Patients
Up to $7.8 billion for an mRNA engager with efficacy data from three patients, 32 days after Novartis halted its CAR-T.
Sanofi Pays Regeneron $1 Billion to Keep Dupixent’s Successors Inside a 23-Year Alliance
Sanofi is paying to keep Dupixent’s next generation in the partnership, and the deal also closes a lawsuit between them.
Novo Paid $300 Million Upfront for a Weekly GLP-1/GIP Pill That Has Not Yet Entered Phase 1
Novo paid a clean, large upfront for a once-weekly pill whose convenience advantage it cannot yet prove in people.
AstraZeneca Puts $2 Billion Into Summit, Whose Drug Beat AstraZeneca’s Own Imfinzi in Biliary Cancer
AstraZeneca bought access to ivonescimab, not rights, and paid a premium to sit next to the drug that beat Imfinzi.
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.
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