Roivant Sciences Ltd. has sold another company, this time offering up Dermavant Sciences Ltd. to Organon & Co. for $1.2 billion. The deal brings Organon into a crowded market for plaque psoriasis treatments. The massive amount comprises an up-front $175 million payment, along with a potential $75 million regulatory milestone and up to $950 million in commercial milestones. In the deal, Organon brings in Vtama (tapinarof) cream, a topical, aryl hydrocarbon receptor agonist for mild, moderate and severe plaque psoriasis in adults.

Biopharma deal values reached $14.88 billion in August, declining from July’s $20.86 billion but improving over June’s $12.79 billion. With a total of $135.17 billion raised through the first eight months, 2024 continues to hold the record for the highest year-to-date deal value in BioWorld's records.

Despite heightened political tensions, both Chinese and U.S. industry officials are working to strengthen ties in the health care and biotech sector, including launching strategic initiatives to foster Sino-U.S. biotech investment and M&A deals. As one of the initiatives, representatives from Hong Kong, China and the U.S. convened at the Bio Hong Kong 2024 conference to launch a global health care M&A and financial investment alliance, along with fostering company and talent growth in Hong Kong.

From local drug discovery to global innovation, economic uncertainty is taking a toll on China’s innovative biotech system, forcing local companies to weather unpredictable storms, investors said during the ChinaBio Partnering Forum in Shanghai Sept. 10-11.

The dark matter of long non-coding RNA (lncRNA) is shades brighter, after the signing of two major deals between biotech pioneers and big pharma in the past week. Haya Therapeutics SA announced Sept. 4 that it has sealed a multiyear agreement with Eli Lilly and Co. to apply its lncRNA platform technology to identify targets in obesity and related metabolic disorders.

Yoltech Therapeutics Co. Ltd. licensed its PCSK9-targeting gene editing therapeutic, YOLT-101, to Shenzhen Salubris Pharmaceuticals Co. Ltd. for mainland China rights in a deal worth ¥1.035 billion (US$145 million).