Biotech’s money, mergers and alliances.

strategic investment

ProFound Therapeutics

With: Gates Foundation

An initial $20 million will fund target and biomarker discovery; as much as $15 million more is tied to later milestones.

licensing agreement

Biohaven

With: SK Biopharmaceuticals

SK Biopharmaceuticals agreed to take global rights to Biohaven’s Kv7 platform and opakalim, the Phase 2/3 epilepsy candidate also known as BHV-7000. Biohaven receives $350 million at closing and $50 million in 2027; development, regulatory, and prior-owner obligations account for the rest of the announced value.

series financing

Faro AI

Expand agentic-AI capabilities and customer deployments across clinical development

series financing

Onos Health

Expand the platform and accelerate adoption among health plans

seed financing

Transfyr

Build the platform, expand the Cambridge team, and generate training data in an in-house wet lab.

platform agreement

Lundbeck

With: EVERSANA

Lundbeck is expanding EVERSANA's AI-enabled platform across marketing, medical communications, market access, and media in its U.S. organization. The companies did not disclose financial terms or product-level performance.

licensing agreement

Sentivera

With: Haisco Pharmaceutical

Haisco granted Sentivera rights outside Greater China to a preclinical small molecule for Type 2 inflammatory diseases. Haisco says the package includes $75.89 million in upfront cash and equity consideration, up to $1.46 billion in milestones, and tiered royalties; Fierce Biotech separately reported the transaction.

licensing agreement

Hanmi Pharmaceutical

With: Genentech

Hanmi granted Genentech exclusive rights outside South Korea to HM17321, a clinical-stage UCN2 analogue. Hanmi says it will receive $190 million up front, may receive development, regulatory, and commercial milestones that bring the total value to as much as $2.3 billion, and is eligible for tiered sales royalties.

public market financing

Gossamer Bio

Clinical development, regulatory activities, working capital, and general corporate purposes

merger

Werewolf Therapeutics

With: Ambros Therapeutics

Advance the combined company's late-stage clinical program and operations

research collaboration

Chai Discovery

With: Bristol Myers Squibb

The companies announced a research collaboration using Chai's models for antibody discovery. Targets, disease areas, economics, timelines, and candidate-level results were not disclosed.

research collaboration

Network Bio

With: NVIDIA

Network Bio announced a collaboration combining its longitudinal cell-free RNA datasets with NVIDIA accelerated computing, Parabricks, and BioNeMo Recipes to build a foundation model called Nexus. Financial terms, development milestones, and external validation plans were not disclosed.

partnership

Causaly

With: Syneos Health

Causaly and Syneos Health announced a strategic partnership to apply Causaly's platform across therapeutic-area expertise, medical advisory, real-world evidence, patient advocacy, and proposal development. The companies did not disclose financial terms or implementation milestones.

series financing

Craif

Expand U.S. research and reimbursement-driven launch preparation, support a Japanese regulatory filing for pancreatic-cancer diagnostic software, and advance a prospective pancreatic-cancer study.

series financing

Infinimmune

Advance IFX-101 and IFX-201 toward first-in-human studies planned for 2027, expand the pipeline, and develop the Anthrobody platform.

series financing

Aureka Biotechnologies

Fund research and large-scale training of next-generation biological foundation models and upgrade the company's Lab-in-the-Loop platform.

partnership

Novo Nordisk

With: Amazon Web Services

Novo Nordisk selected AWS as its preferred cloud provider and strategic AI partner and said the companies will open a co-innovation hub in London. The stated work includes Amazon Bio Discovery, Bedrock, and Bedrock AgentCore; financial terms and delivery milestones were not disclosed.