BioLink Weekly

Intelligence for US-China Biopharma Dealmakers. Published weekly by BioRich International, Princeton NJ.

Latest Issue

Issue 20August 25, 2026

US Dealmaking Stays Hot into Late August: BioMarin Buys Alesta for up to $490M, Sandoz Expands Its Shanghai Henlius Pact to up to 10 Biosimilars ($322M China-Out), and Merck-Moderna's mRNA Cancer Vaccine Clears Phase 3

US dealmaking stayed hot in the third week of August: BioMarin agreed to buy Alesta for up to $490M for an oral hypophosphatasia drug, while Sandoz widened its Shanghai Henlius biosimilar collaboration to as many as 10 products (up to $322M) - the week's clearest China-out signing. On the science side, Merck and Moderna's personalized mRNA cancer vaccine intismeran autogene became the first to clear a Phase 3 (in resected melanoma), Amylyx's avexitide hit in post-bariatric hypoglycemia, and AstraZeneca halted a volrustomig first-line lung-cancer Phase 3.

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In This Issue

Licensing / China-out
M&A
Biosimilars
Oncology / mRNA Vaccines
Obesity / Metabolic
Rare Disease
Regulatory
BD&L Mandates

Previous Issues

19August 18, 2026

China-Out Licensing Reawakens as Almirall Taps Shenzhen's CrystalO for Dermatology, US Reverse-Mergers Return, and Ivonescimab Lands a Landmark China Approval

Licensing / China-out
M&A / Reverse Merger
Dermatology

BioLink Weekly

US Dealmaking Stays Hot into Late August: BioMarin Buys Alesta for up to $490M, Sandoz Expands Its Shanghai Henlius Pact to up to 10 Biosimilars ($322M China-Out), and Merck-Moderna's mRNA Cancer Vaccine Clears Phase 3

In This Issue

China-Out Licensing Reawakens as Almirall Taps Shenzhen's CrystalO for Dermatology, US Reverse-Mergers Return, and Ivonescimab Lands a Landmark China Approval

US Dealmaking Runs Hot as China-Out Licensing Pauses: Jazz Buys Actio for up to $1.3B, Biogen Closes an up-to-$1B RayThera Immunology Deal, and the AstraZeneca-BMS Mega-Merger Is Denied

China's Senaparib Goes Ex-China as Radiopharma and Medtech M&A Surges: IMPACT Licenses Its PARP Inhibitor to Pharmanovia for up to EUR 423.5M, Curium Buys Lantheus for up to $8B, and KKR Takes Integer Private for $5.7B

Autoimmune M&A Crowds Out China Licensing: argenx Buys Forte for $2.2B and Its Anti-CD122 Antibody FB102, Repligen Takes BioLife for $1.5B, and Junshi's Toripalimab Heads Back to the NMPA

Two China-Origin Immunology Assets Land the Same Morning: Hansoh's Oral IL-23 Anchors a $2.3B Nasdaq Debut and Innovent's CD40L Antibody Rebuilds Spero, as Lilly Pays $2.8B for AtaiBeckley

AstraZeneca and GSK Both Deepen China Ties Through Sino Biopharm in One Day as Vertex Buys Crinetics for ~$10B and Vera's Atacicept Wins FDA Approval

AstraZeneca Returns to CSPC in a $1.77B siRNA Kidney Pact as Takeda Bets Up to $600M on Insilico's AI Discovery Engine

China's YolTech Anchors a $230M US Gene-Editing Launch as CARsgen Wins the World's First Solid-Tumor CAR-T Approval

Antengene Hands MPM-Backed K2 a CDH6xCD3 TCE in a ~$1B China-Out Deal; Lilly and Biogen Add Bolt-Ons as the FDA Clears the First Oral Carbapenem

GSK's $10.6B Nuvalent Buy Headlines an M&A-Led Week; EHA 2026 Delivers Practice-Shifting Phase 3 Data in Myeloma, Lymphoma and Sickle Cell

A ~$3B M&A Monday: Incyte Buys Into Bleeding Disorders, J&J Grabs a KRAS Degrader Platform; Gilead-Merck's Once-Weekly Oral HIV Pill Clears Phase 3

ASCO Week: Pfizer-Innovent's $10.5B, 12-Program Pact Tops a China-Out Surge; Ivonescimab Beats a PD-1 on Survival

PROTACs Enter Commercial Licensing; Gilead Closes $5B Tubulis; Lilly Makes Its 7th Acquisition of 2026

BMS–Hengrui $15.2B Anchors a Three-Week Deal Wave; Lilly and Novo Reshape the Global Top 10

AI Moves From Pilot to Production as Q1 Deal Wave Continues

ADCs and Radiopharma Lead the Mid-April Deal Wave; 22,000+ MNC Layoffs Reshape the Industry

CRO/CDMO Landscape Shifts as US Biotechs Reassess China Manufacturing Partnerships

In-Licensing Appetite Among US Mid-Caps Reaches Post-Pandemic Peak

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