DATA GRAPHICS | Data Byte
Busy period for Asia’s dealmakers has HBM, Biocytogen at the top
A leaderboard of deals from Asian biotechs to Western biotechs and multinational pharmas
July 30, 2025 11:59 PM UTC
Wednesday’s deal between CSPC and Madrigal for an oral GLP-1 receptor agonist was the China biotech’s second major out-licensing deal with a Western partner this summer.
In June, CSPC Pharmaceutical Group Ltd. (HKEX:1093) announced a multi-target AI discovery partnership with Astrazeneca plc (LSE:AZN; NYSE:AZN) worth over $5 billion in total biobucks. The single-asset deal with Madrigal Pharmaceuticals Inc. (NASDAQ:MDGL) has an upfront payment of $120 million — large for a preclinical program — and a further $2 billion in potential milestones. ...