Securing a second major partnership with Sanofi SA – this time worth a potential $2.56 billion – Earendil Labs will provide its AI-driven discovery platform to find new therapeutics for autoimmune and inflammatory diseases.
After raising $292 million in its Hong Kong IPO, AI discovery and development biotech, Insilico Medicine, signed an R&D collaboration with French pharma Servier SA valued at $888 million to discover and develop innovative oncology therapies by combining Insilico's AI-driven drug discovery platforms with Servier's global expertise in cancer drug development.
After a volatile but ultimately strong year for biopharma stocks, 2025 delivered a mixed picture marked by sharp workforce reductions alongside resilient capital markets and high-value dealmaking.
After a volatile but ultimately strong year for biopharma stocks, 2025 delivered a mixed picture marked by sharp workforce reductions alongside resilient capital markets and high-value dealmaking.
Abbvie Inc. signed a $1.1 billion New Year’s Eve deal with China’s Zelgen Biopharmaceuticals Co. Ltd., gaining ex-China rights to Zelgen’s lead oncology asset, alveltamig (ZG-006), a trispecific T-cell engager targeting delta-like ligand 3. Under terms of the deal, Abbvie will pay Zelgen an up-front fee of $100 million, and Zelgen is eligible to receive $60 million in near-term milestones and could receive up to $1.075 billion in additional development, regulatory and commercial milestones, alongside tiered royalties on net sales outside China. Zelgen retains full rights in China.
Four optimization trends dominated the med-tech industry in 2025. Growth-driven acquisitions propelled major players into hot markets, while strategic realignments at several large companies prompted notable exits as well as a few tuck-in deals. Spin-offs continued their mixed performance, with several companies on track for significant splits and others changing plans. Private equity entered — and exited — with leveraged buy outs, and a record-setting cash out.
IPOs top the list of the big stories in 2025 in med tech. Thirty med-tech companies went public, raising nearly $12 billion, two orders of magnitude more than in 2023 and almost 20 times more than raised in 2024.
Advanced Biomed Inc. reported Dec. 30 the sale of its wholly owned Hong Kong subsidiary, Advanced Biomed (HK) Ltd., and related intellectual property to buyer Wei Ha Hui for $23,000.
When glucagon-like peptide-1 (GLP-1) receptor agonists entered the market for obesity and overweight indications in recent years, the uptake and enthusiasm drove investor excitement for companies advancing any of the new mechanisms in the space.
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-12-31.webp?height=488&t=1767210422&width=650 "Advanced Biomed’s A+Perfusc 3D cell culture system")
