Eli Lilly and InnoCare Pharma inked a multi-target deal potentially worth $3.35 billion. The FDA has doled out the first approval for a novel cancer drug from a Korean company. China's new pharmaceuticals five-year plan includes some ambitious goals. And more.
1. Lilly puts up $100M, plus billions on the backend, to form 5-target deal with China's InnoCare
Eli Lilly has committed $100 million in upfront and near-term payments, plus up to $3.25 billion in milestones, to launch a five-target drug discovery collaboration with InnoCare Pharma. No details on the drug targets or therapeutic areas were disclosed. InnoCare has an internal pipeline spanning hemato-oncology, autoimmune diseases and solid tumors.
2. Elevar wins FDA nod for bile duct cancer drug Lyrfigtu, a first for a Korean firm
The FDA has cleared Elevar Therapeutics’ Lyrfigtu in bile duct cancer. This marks the first FDA approval for a novel cancer drug developed by a South Korean company, as Elevar is a subsidiary of Korea’s HLB Group. A selective FGFR2 inhibitor acquired from Relay Therapeutics, Lyrfigtu achieved a 46% objective response rate and a median progression-free survival of 11.3 months.
3. China targets 25% share of global first-in-class drugs in new 5-year plan
China’s government has unveiled its 2026-2030 pharmaceutical five-year plan, targeting a 25% global share of first-in-class drugs across clinical programs and approved products. Other key objectives by 2030 include establishing 50 domestic pharma companies with annual sales exceeding 10 billion yuan (about $1.5 billion) and creating five global blockbuster drugs.
4. Otsuka heads to FDA as Ionis-partnered ALS drug hits primary phase 3 endpoint
Otsuka and Ionis announced that a phase 3 trial of ulefnersen met its primary endpoint in a rare and aggressive genetic form of amyotrophic lateral sclerosis called FUS-ALS. The 72-week trial demonstrated that ulefnersen significantly slowed disease progression—measured by functional decline and ventilation-free survival—compared to placebo. It also achieved key secondary endpoints.
5. Why a US senator wants a biotech leader in the White House who ‘has the president’s ear’
U.S. Sen. Todd Young, R-IN., advocates for creating a dedicated White House biotechnology lead “who has the president’s ear” to counter China's rapid rise in biotechnology. He highlights that China’s growing biotech capabilities could fuel broader military and economic advancements. Young is the chairman of the National Security Commission on Emerging Biotechnology.
6. Roche's Genentech inks $1.5B bispecific pact with fast-rising Earendil
Roche’s Genentech has partnered with Sino-American firm Earendil Labs in an oncology-focused drug discovery deal worth $55 million upfront and over $1.5 billion in total potential milestones. Earendil will utilize its AI-enabled discovery platform to discover and advance bispecific antibodies against undisclosed target combinations through early clinical development.
Other News of Note:
7. GSK aiming to ‘balance West and East’ after Hansoh deal success showed China’s potential
8. Novartis secures new radioligand in $900M deal as competition strengthens
9. Boehringer Ingelheim offloads Shanghai CDMO to local antibody developer
10. Otsuka JV recalls one lot of sodium chloride over labeling issue
11. China’s Henlius carves out $440M T-cell engager deal with Amberstone
12. Cellares pens 2nd automation test with Asia-based cell therapy partner in 2 weeks