Although the number of biopharma licensing deals signed in 2018 reached 1,364 with a projected value of $119.5 billion, a four-year high, it appears that number has not satisfied the industry's appetite for dealmaking just yet. According to data from BioWorld and Cortellis Deals Intelligence, there were 418 deals signed in the first quarter of 2019, a whopping 48% higher than the first quarter transactions completed last year.