Gilead Acquires Tubulis for $5 Billion to Bolster ADC Pipeline; NewRays Medical Raises ¥1B in Record-Breaking Series E Round and Files IPO Prospectus

Apr 15, 2026 15:58 CST Updated 15:58

Gilead Sciences

Innovative Drug Developer, Distributor

New Radiomedicine

Radiopharmaceuticals Developer

Oricell Therapeutics

Developer of Tumor Immunocyte Products

Vivatides Therapeutics

Small Nucleic Acid Drug Developer

Mabwell

Innovative Biopharmaceutical Company

Praxis

Contract Research Organization (CRO)

Sanofi

Pharmaceutical Manufacturer

Regend Therapeutics

Innovative Biopharmaceutical R&D Developer

Trinomab

Developer of Natural Fully Human Monoclonal Antibody New Drugs

Global Biomedical Industry Dynamics

In the capital market

Intensive Implementation of Industrial Cooperation and Financing M&A: Gilead Sciences Acquires German ADC Innovator Tubulis for $5 Billion to Strengthen Oncology Pipeline; New Radiomedicine Completes RMB 1 Billion Series E Financing, Setting a New High in Single-Round Financing in the Nuclear Medicine Field; Oricell Therapeutics Secures $110 Million in Pre-IPO Financing to Advance CAR-T Therapy for Hepatocellular Carcinoma; Vivatides Therapeutics Oversubscribes $54 Million Series A Financing to Accelerate Extrahepatic Delivery of Small Nucleic Acid Therapies; Meisai Biotech Raises Over RMB 150 Million in Series A Financing Focused on Macrophage-Targeted Drug Development; Mabwell Passes Hurdle for Hong Kong IPO to Achieve A+H Listing; Adagene Collaborates with Incyte to Evaluate CTLA-4 Antibody Combined with TGFβR2/PD-1 Bispecific Antibody for Colorectal Cancer Treatment; Gan & Lee Pharmaceuticals Enters Exclusive Licensing Agreement Worth $81.1 Million with JW Pharmaceutical for GLP-1RA Biweekly Formulation; Xuanzhu Biopharma Licenses Two Self-Developed Drugs for Over $100 Million to Middle East and North Africa; Astellas Pharma Introduces AI-Designed AAV Capsid for $15 Million; C-Bridge Capital and Hefei State-Owned Capital Exit Haisen Bio via Everest Medicines' $250 Million Deal; Takeda Terminates Collaboration with Denali, Returns FTD Therapy DNL593, and Cuts 634 Jobs; Hui Lun Pharmaceuticals Files for Hong Kong Stock Exchange Listing.

Clinical Progress

Good news frequently comes from the fields of metabolism, oncology, and neurology: Praxis' Elsunersen reduced seizure frequency by 77% in Phase I/II trials for early-onset epilepsy, with 57% of patients achieving 28-day seizure freedom; Amgen's Teprotumumab achieved a 76.7% proptosis response rate in Phase III trials for moderate to severe thyroid eye disease; Sanofi's Lunsekimig met primary endpoints for both moderate to severe asthma and chronic rhinosinusitis with nasal polyps in Phase II trials; Weili Bio’s LBL-024 showed tumor shrinkage trends in Phase II trials for advanced biliary tract cancer; Jiangsu Aidea Pharmaceutical's ACC085 received IND approval for HIV pre-exposure prophylaxis; Regend Therapeutics' REGEND003 completed the first dosing in the registered clinical trial for chronic kidney disease.

In terms of industry strategic adjustment

Acceleration of Pharma Capitalization and Continuous Upgrade of R&D Models: Mabwell, Hui Lun Medicine, Jingyin Pharmaceuticals, and other companies advance Hong Kong IPOs; Trinomab's core product achieves 51.22 million yuan in sales in its first year on the STAR Market; multiple companies enhance R&D of core technology platforms, focusing on ADC, radiopharmaceuticals, small nucleic acids, cell therapy, and other directions; MNCs like Gilead Sciences and Takeda optimize pipeline layouts through mergers, acquisitions, or streamlining, marking platform-based licensing and strategic focus as core drivers of industry upgrades.

Global Biopharmaceutical Industry

Major Events

Global Innovative Drugs

Important Clinical Progress/Results

Global Innovative Drugs

Important Investment, Financing and Transaction Events

Weekly Summary

From April 6 to April 12, 2025, global biopharmaceutical transactions and investment financing remained highly active, featuring seven major licensing deals and strategic collaborations—including Gilead Sciences' $5 billion acquisition of German ADC innovator Tubulis to strengthen its oncology pipeline, Adagene's collaboration with Incyte to evaluate a CTLA-4 monoclonal antibody combined with a TGFβR2/PD-1 bispecific antibody for colorectal cancer treatment, Gan & Lee Pharmaceuticals' $81.1 million exclusive licensing agreement with JW Pharmaceutical for a GLP-1RA bi-weekly formulation, Xuanzhu Biopharma's over $100 million licensing deal for two self-developed drugs in the Middle East and North Africa, Astellas Pharma's $15 million introduction of AI-designed AAV capsids, CBC Group and Hefei State-Owned Capital exiting Haisen Biologics via a $250 million Evergreen BioPharma deal, and Takeda terminating its collaboration with Denali, returning FTD therapy DNL593 and laying off 634 employees; along with seven significant investment financing events—highlighting New Radiomedicine's RMB 1 billion Series E round setting a new high for single-round financing in the radiopharmaceutical sector, Oricell Therapeutics' $110 million Pre-IPO round advancing CAR-T therapy for hepatocellular carcinoma, Vivatides Therapeutics' oversubscribed $54 million Series A round accelerating extrahepatic delivery of small nucleic acid therapies, Meisai Biotechnology's over RMB 150 million Series A round focusing on macrophage-targeted drug development, Mabwell passing its Hong Kong IPO hearing to achieve an A+H listing, Hui Lun Medicine filing for a Hong Kong Stock Exchange listing, and Beichen Biotech completing its Pre-A round; transactions focused on ADCs, radiopharmaceuticals, small nucleic acids, cell therapy, GLP-1, and AI drug discovery, collectively reflecting multinational pharmaceutical companies optimizing pipelines through mega-acquisitions, continued market enthusiasm for bispecific antibodies and combination therapies, sustained capital investment in cutting-edge treatments like radiopharmaceuticals and small nucleic acids, Chinese innovative pharmaceutical firms accelerating internationalization and capitalization via Hong Kong IPOs and NewCo models, while industry strategic contraction and focus have become rational choices.

Investment and Financing

New Radiomedicine —— RMB 1 Billion Series E Financing

Update: Completed RMB 1 billion Series E financing in April, jointly led by Shanghai Science and Technology Innovation Group, Shanghai Guoxin, and Nanjing Gaoxin Jun. More than ten institutions followed the investment, including the Intellectual Property Fund under Shanghai Science and Technology Innovation Group, Ding Tai Xing, and Zhongqi Capital. The company has initiated A-share IPO tutoring in January 2025.

Significance: This financing round set a new high for the largest single financing in China's nuclear medicine field. If the subsequent IPO proceeds smoothly, New Radiomedicine may become the first local nuclear medicine listed company in Sichuan, reflecting the continued capital inflow into the nuclear medicine sector.

Qrigincell Therapeutics —— $110 Million Pre-IPO Financing

Update: As of April 10, a total of US$110 million in Pre-IPO financing has been completed. Vivo Capital, Beijing Medical and Health Industry Investment Fund, Qiming Venture Partners, and a globally leading medical fund jointly led the investment, with notable institutions such as international sovereign funds, Yizhuang State Investment, Luxin Venture Capital, NGS, Licheng Investment, and Ruifeng Capital participating as follow-up investors.

Significance: The funds will be used to advance the pivotal clinical trial of the core product Ori-C101, a GPC3-targeted autologous CAR-T drug. This product is expected to become the world's first approved CAR-T drug for hepatocellular carcinoma, reflecting the continued favor of cutting-edge cell therapies by investors.

Vivatides Therapeutics —— $54 Million Series A Financing

Update: On April 10, the company successfully closed an oversubscribed $54 million Series A financing round, co-led by Qiming Venture Partners and a well-known industry fund. Joining the round were Hony Capital, a prominent investment fund, and TF Capital, with existing investor Apricot Capital continuing to increase its investment.

Significance: The funds are used for the iterative optimization of the core extrahepatic delivery technology platform, the clinical advancement of multiple pipelines, and the establishment of a global R&D network, focusing on the development of extrahepatic targeted small nucleic acid drugs, reflecting the differentiated layout value of the small nucleic acid track.

Mabwell —— Over 150 Million Yuan in Series A Financing

Update: Completed over 150 million yuan in Series A financing on April 2, led by Kangjun Capital, with participation from Hongfeng Investment, Ruihua Capital, leading industry investment institutions, and well-known industrial funds.

Significance: The funds are used for the discovery and validation of macrophage targets and the clinical translation of antibody drugs, focusing on two major fields: autoimmune diseases and cancer. This highlights the market's attention on the development of innovative targets with macrophages as the core research subject.

Beicheng Biotech —— Pre-A Round Financing

Update: Recently completed Pre-A round financing, led by TusStar Venture Capital, with Zhonghe Yiben Capital serving as the exclusive financial advisor.

Significance: The funds are used for core technology research and development upgrades, product industrialization advancement, and market expansion, focusing on the antibacterial microbiome and biopharmaceutical fields, demonstrating the innovative potential of the microbiomics track.

Mabwell —— HKEX IPO Passes Hearing

Update: Passed the HKEX listing hearing in April, planning to list on the Hong Kong Main Board. Previously submitted the application on March 25, 2026, achieving a dual capital market layout of A+H.

Significance: The company has 15 key products in preclinical, clinical, or marketed stages, including 11 innovative drugs and 4 biosimilars. Four of these products have been successfully launched, reflecting the acceleration of international capitalization for China's innovative pharmaceutical enterprises.

Bendgene —— Hundreds of Millions of Strategic Financing

Update: Completed a strategic financing round of several hundred million yuan recently, led by EF Capital, with participation from Gongshu State Investment and Hongcheng Capital. The company has simultaneously completed its industrial and commercial relocation to Gongshu District, Hangzhou City.

Significance: The funds are used for the world's first CRISPR antiviral gene-editing drug BD111 Phase II clinical trial, BD211 thalassemia project transformation, and BD312 glaucoma and BD115 genital herpes IND applications, reflecting an acceleration in the clinical translation of gene-editing therapies.

Transaction Authorization

Gilead Sciences Acquires Tubulis — $5 Billion

Update: On April 7, it was announced that a deal to acquire all issued shares of Tubulis, a German ADC innovator, for $3.15 billion in cash upfront plus up to $1.85 billion in milestone payments, was reached. The total transaction value could reach up to $5 billion, with an expected completion in the second quarter of 2026.

Significance: Tubulis focuses on developing the next generation of antibody-drug conjugates (ADCs). This acquisition will significantly strengthen Gilead Sciences' oncology portfolio, focusing on areas with high unmet needs, reflecting multinational pharmaceutical companies accelerating the ADC track layout through mega-mergers and acquisitions.

Gan & Lee Pharmaceuticals and JW Pharmaceutical —— $81.1 Million Exclusive Licensing Collaboration

Update: On April 8, an exclusive licensing agreement was signed with JW Pharmaceutical, a leading pharmaceutical company in South Korea, to collaborate on the clinical development, regulatory submission, and commercialization of the GLP-1RA bi-weekly formulation Bofanaglutide injection in South Korea.

Significance: Gan & Lee Pharmaceuticals will receive an upfront payment of 5 million USD and milestone payments totaling 76.1 million USD, with the potential total transaction amount reaching up to 81.1 million USD, reflecting the enhanced capability of Chinese innovative pharmaceutical companies in licensing out GLP-1 products.

Xuanzhu Biotech and Boston Oncology —— Over $100 Million Licensing Collaboration

Update: On April 9, an exclusive licensing and supply agreement was reached with Boston Oncology for two Class 1 innovative drugs, Pilociclib Tablets and Diruak Tablets. The authorized region covers over 20 countries in the Middle East and North Africa.

Significance: Xuanzhu Biotech will receive an upfront payment and subsequent regulatory and commercial milestone payments that may cumulatively exceed 100 million US dollars, as well as a fixed percentage royalty on total sales within the licensed region, marking a breakthrough for Chinese innovative drugs entering emerging markets such as the Middle East and North Africa.

Astellas Introduces Dyno AAV Capsid —— $15 Million

Update: Astellas Exercises License Option to Introduce a Novel AI-Designed AAV Capsid for Skeletal Muscle Delivery; Dyno to Receive $15 Million License Fee

Significance: This licensing deal marks the first time in the industry that a biotechnology company has successfully licensed an "AI-designed AAV capsid" for central nervous system and muscle-targeted delivery, showcasing a commercial breakthrough for AI technology in gene therapy delivery systems.

Everest Medicines Acquires Haisen Singapore — $250 Million

Update: On April 8, Everest Medicines' wholly-owned subsidiary in Singapore signed an equity purchase agreement with Haisen BioPharma (Asia) to acquire 100% of Haisen Singapore for a total consideration of $250 million, obtaining commercialization rights for 14 branded chronic disease products in the Asia-Pacific region.

Significance: This transaction is essentially a partial exit for investors such as CBC Group and Hefei State-owned Capital through Everest Medicines, demonstrating an innovative model of PE/VC exit via M&A deals.

Takeda Terminates Denali Collaboration — Returns DNL593 Rights

Update: Recently, Takeda Pharmaceutical announced the termination of its collaboration with Denali Therapeutics, returning the global development and commercialization rights of the FTD therapy DNL593, while also cutting 634 jobs in the United States.

Significance: In the face of a 99.6% failure rate in Phase III clinical trials for neurodegenerative diseases, Takeda has achieved an annual cost-saving target of over 200 billion yen through strategic contraction, demonstrating the pharmaceutical industry's rational assessment of risk-reward ratios and making "cutting losses" a growing trend.

Adagene Collaborates with Incyte — Combination Therapy for Colorectal Cancer

Update: On April 2, a clinical collaboration was announced with Incyte to evaluate the efficacy of the CTLA-4 antibody muzastotug in combination with the TGFβR2×PD-1 bispecific antibody INCA33890 for the treatment of microsatellite-stable colorectal cancer. Incyte will fund and conduct the study.

Significance: Previously, muzastotug combined with KEYTRUDA showed encouraging objective response rates in third-line MSS colorectal cancer. This collaboration highlights the exploratory value of bispecific antibodies combined with immunotherapy in refractory tumors.

Global Regulatory Updates on Innovative Drugs

(Approved for Marketing/IND/Special Review)

China NMPA Regulatory Updates (Marketing Authorization & Policies)

April 6 - 12, 2026: China's innovative drugs achieved significant progress in areas such as oncology, cardiovascular, and cell therapy. Multiple First-in-class / globally pioneering drugs were approved for marketing or clinical trials, while the public announcement of breakthrough therapies accelerated the development of urgently needed clinical drugs.

Antais^®(Taladotin Monoclonal Antibody for Injection)

Company: BeiGene

Date: April 10, 2026

Details: Granted conditional approval by the NMPA through the priority review process for adult patients with extensive-stage small cell lung cancer (ES-SCLC) who have previously failed at least two systemic treatments (including platinum-based chemotherapy). It is the world’s first and currently the only approved bispecific T-cell engager (TCE) targeting DLL3 and CD3, offering a new treatment option for later-line therapy in small cell lung cancer.

Norchlorouretidine Hydrochloride Injection

Enterprise: Zhuhai Rundu

Date: April 9, 2026

Details: A Class 1 chemical drug has been approved for marketing in China. It is a cardiac stress test agent used for nuclear myocardial perfusion imaging (MPI) to assess myocardial ischemia. The drug took 20 years to develop and fills a gap in the relevant field in China.

Demochizumab Injection

Company: GSK

Date: April 9, 2026

Details: Approved for marketing, used to treat severe eosinophilic asthma, providing a new targeted treatment option for patients with severe asthma.

GKL-006Allo Injection (Allogeneic Universal Off-the-Shelf iNKT Cell Injection)

Company: Geneillum Bio

Date: April 7, 2026

Details: The IND application for a Class 1 innovative drug has received the tacit approval for clinical trials from the CDE, intended for use in ankylosing spondylitis patients who have failed or are intolerant to standard treatments. This marks a significant breakthrough for iNKT cell therapy in the field of autoimmune diseases in China.

RTX-117

Company: ReviR Therapeutics

Date: Early April 2026 (Within the period of April 6-12)

Details: The IND application for a small molecule drug has been approved by the NMPA for the treatment of Charcot-Marie-Tooth disease (CMT). This is the first domestically developed Class 1 innovative drug in China targeting Charcot-Marie-Tooth disease, with plans to initiate Phase I clinical trials in the first quarter of 2026.

SHR-A2102

Company: Hengrui Medicine

Date: April 8, 2026

Details: The CDE official website announced the proposed inclusion of a breakthrough treatment drug, indicated for recurrent or metastatic cervical cancer that has failed platinum-based chemotherapy and PD-(L)1 inhibitor treatments. The drug's payload is a topoisomerase I inhibitor, which achieves precise tumor killing by targeting the high expression of Nectin-4 in tumor tissues, accelerating its clinical development and market launch process.

FDA Regulatory Updates in the United States (Special Designations and Status)

April 6 - 12, 2026: FDA Sends Strong Signals in Accelerating Generic Drugs and Optimizing Regulatory Policies, While Approving Multiple Innovative Drug Reviews to Drive Global Innovation in Drug Development and Accessibility.

Orca-T

Company: Orca Bio

Date: April 6, 2026 (PDUFA target date)

Details: Allogeneic T-cell immunotherapy for the treatment of hematologic malignancies has previously been granted Priority Review status by the FDA for its Biologics License Application (BLA). The review decision was completed on the PDUFA date, offering a new cellular therapy option for patients with blood cancers.

"Expedited IND" New Pathway

Date: April 7, 2026

Details: The FDA announced plans to introduce a new "Rapid IND" pathway, which will replace the traditional IND route for certain Phase I clinical trials. This pathway applies to preclinical data that can meet regulatory standards through New Alternative Methodologies (NAMS). While ensuring safety and ethical standards, it significantly accelerates the initiation of early clinical trials and reduces R&D costs.

AI Drug Development Regulatory Signals

Date: April 11, 2026

Details: FDA, in collaboration with EMA and MHRA, releases significant regulatory signals to promote the institutionalization of AI-driven drug development regulations, while accelerating generic substitution and strengthening drug safety monitoring, providing a clear regulatory framework for AI-powered innovative drug research and development.