Q32 Bio Inc. handed off rights to phase II-stage complement inhibitor ADX-097 in a deal with Akebia Therapeutics Inc. that helps the former extend its cash runway to focus on lead candidate bempikibart in alopecia areata and bolsters the latter’s efforts to build a rare kidney disease pipeline.
Med-tech dealmaking totaled $1.72 billion through the first three quarters of 2025, signaling a potential rebound in the works from the subdued activity seen in 2024, when publicly reported full-year deal value reached $2.12 billion. Q3 was the strongest quarter so far this year, contributing $1.37 billion, nearly 80% of the year-to-date total, following slower starts of $149.1 million in Q1 and $192.2 million in Q2.
Two South Korean conglomerates – Samyang Holdings Corp. and Samsung Biologics Co. Ltd. – listed their newly spun-off biopharmaceutical units on Korea Exchange’s (KRX) main trading board Nov. 24.
