European biotechs favor discovery deals in Asia

European biotech companies are tapping Asian companies for their expertise in new therapeutics discovery, including antibody engineering, with two thirds of recent East-West deals by European companies devoted to identifying new products.

In cross-border deals from Jan. 1, 2023 through April 17, 2025, U.S. biotechs and big pharmas are far more likely to license existing products, potentially exploiting expedited development by making deals for products already in the clinic in Asia. Licensing of existing assets is a core feature of the NewCo Model of Western venture-backed companies founded with in-licensed products from Asia...