While in 2025 med-tech financings averaged $3.3 billion per month, January 2026 saw the sector bring in $1.52 billion across 39 transactions. It was the lowest monthly total since November 2024’s $924.59 million. However, a number of months last year saw fluctuating values, ranging from $1.65 billion in July to $8.26 billion in December 2025, indicating uncertainty as to how industry financings will shake out this year.
True to its word, Novo Nordisk A/S filed a patent infringement lawsuit in U.S. district court against Hims & Hers Health Inc. over compounded versions of Novo’s semaglutide products.
Iambic Therapeutics Inc.’s multiyear technology and discovery pact with Takeda Pharmaceutical Co. Ltd. could help the San Diego-based firm advance its own pipeline in a big way.
Galux closed a ₩42 billion (US$29 million) series B round Feb. 10, led by Yuanta Investment to bring AI-driven “rational design” to the protein drug development process, already heavily influenced by human engineering.
As its GLP-1 rival goes after compounders, Eli Lilly and Co. started the week with news beyond its diabetes and obesity franchise. The company, which disclosed a new agreement with Innovent Biologics Ltd., followed up a short time later with plans to acquire Orna Therapeutics Inc., marking its latest foray in the in vivo therapy space.
Breye Therapeutics ApS reported positive phase Ib data for its oral gap junction modifier drug danegaptide in diabetic retinopathy and is now raising a €50 million (US$59.6 million) series A round to move into the next phase of development.
The scale of the $8.5 billion deal signed between Innovent Biologics Inc. and Eli Lilly and Co. is eye-catching, but the structure is the real signal. By shifting phase II oncology development to China while reserving global rights ex-greater China, the partners are testing a model that could reshape how multinational drugmakers source innovation as well as how Chinese biotechs create value.
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