Biontech SE is extending its relationship with Biotheus Inc. from a licensing deal to a full-scale acquisition, agreeing to pay $800 million cash and up to $150 million in milestone payments for the Chinese oncology specialist.

Astellas Pharma Inc. presented the first preclinical data on ASP-1002, a bispecific antibody targeting claudin-4 (CLDN4) and CD137, for the treatment of patients with metastatic or locally advanced solid tumors.

With another failure of E-selectin antagonist uproleselan on the books, Glycomimetics Inc. signed an acquisition agreement with privately held, solid tumor-focused Crescent Biopharma Inc., and a syndicate of investors has put up $200 million to make the merger possible. The combined firm will operate under Crescent’s name after the deal closes in the second quarter of 2025, subject to shareholders’ go-ahead.

Ottimo Pharma Ltd. has emerged from stealth with a focus on developing innovative cancer therapies for solid tumors. The company’s lead program is jankistomig, a PD-1/VEGFR-2 bifunctional antibody.

Akeso Pharmaceuticals Inc. raised $250 million via a public offering that will allow the company to accelerate clinical development of its internally developed drugs in both China and international markets. The offering consists of 31.7 million shares priced at HKD$61.28 (US$7.88) per share and marks the second successful placement in 2024 for Guangdong, China-based Akeso. Following the offering, the company's cash on hand is expected to be $1.064 billion.

Akeso Pharmaceuticals Inc. raised $250 million via a public offering that will allow the company to accelerate clinical development of its internally developed drugs in both China and international markets. The offering consists of 31.7 million shares priced at HKD$61.28 (US$7.88) per share and marks the second successful placement in 2024 for Guangdong, China-based Akeso. Following the offering, the company's cash on hand is expected to be $1.064 billion.

Researchers from Shanghai Institute of Biological Products Co. Ltd. published details on the development and preclinical characterization of novel CD20-targeting T cell-dependent bispecific Fab-FabCH3 antibodies, referred to as tandem antigen-binding fragment 002 (TFAB-002).