Astrazeneca plc has exercised an option under its collaboration with Pinetree Therapeutics Inc. to obtain an exclusive global license to develop and commercialize PTX-299, a first-in-class bispecific antibody degrader targeting EGFR. The option exercise triggers a $25 million payment to Pinetree.

Kazia Therapeutics Ltd. has licensed a first-in-class SETDB1-targeted epigenetic drug development platform from QIMR Berghofer. The company acquired global rights to the SETDB1 platform, including the lead candidate MSETC, in exchange for an up-front payment and a tiered revenue-sharing structure aligned with development progress.

Haisco Pharmaceutical Group Co. Ltd. has entered into an exclusive licensing agreement with Abbvie Inc., granting Abbvie the exclusive rights to develop, manufacture and commercialize novel medicines for the treatment of pain globally, excluding mainland China, Hong Kong and Macau.