Roundup of Antibody Biotech Deals in December 2025

December 2025 saw sustained dealmaking momentum across the antibody biotech sector, with large pharma and emerging biotechs advancing partnerships, licensing agreements, acquisitions, and financings. Activity spanned ADCs, bispecific antibodies, neurodegeneration, immunology, and AI-enabled discovery platforms, underscoring continued demand for differentiated antibody technologies as the industry heads into 2026.

🤝 Strategic Collaborations & Research Partnerships

• Dren Bio × Sanofi – Expanded strategic collaboration to develop next-generation B-cell-depleting antibody therapeutics, with potential milestone payments of up to $1.7B.

• Kelun-Biotech × Crescent Biopharma – Strategic partnership to develop bispecific and ADC oncology therapeutics, valued at up to $1.25B.

• Oxford BioTherapeutics × GSK – Collaboration to discover novel targets for antibody-based cancer therapeutics.

• InduPro Therapeutics × Sanofi – Investment and research collaboration to advance a novel bispecific antibody for autoimmune disorders.

• Galux × Boehringer Ingelheim – Research agreement to advance AI-driven protein design.

• LabGenius Therapeutics × Sanofi – Collaboration covering multiple AI/ML-driven antibody optimisation programmes.

💵 Licensing & Option Deals

• GenSci × Yarrow Bioscience – Potential $1.37B agreement for anti-TSHR antibody GS-098 (YB-101) targeting Graves’ disease and thyroid eye disease.

• ADEL × Sanofi – $1.04B global licensing agreement for ADEL-Y01, a Tau acK280 antibody being developed as a potential Alzheimer’s disease therapy.

• Ipsen × Simcere – Potential $1.06B licensing deal for a preclinical LRRC15-targeting antibody-drug conjugate.

• Windward Bio × Qyuns Therapeutics – Licensing agreement for WIN027, a bispecific antibody with potential applications in respiratory and dermatologic diseases, valued at up to $700M.

• Vir Biotechnology × Norgine – Exclusive commercial license for a hepatitis D treatment candidate combining an mAb and siRNA, with potential deal value of up to $582M.

💰 M&A

• Mirum Pharmaceuticals → Bluejay Therapeutics – Acquisition valued at up to $820M, adding brelovitug to Mirum’s rare disease portfolio.

💸 Financings

• Allink Biotherapeutics – Completed a $47M extension of its Series A financing to accelerate ADC and multispecific antibody development.

• Orum Therapeutics – Secured approximately $100M to advance degrader antibody conjugate programs for serious diseases.

• Vaccinex – Announced $60M in financing to support a Phase 2b clinical trial of pepinemab, an anti-SEMA4D antibody for Alzheimer’s disease.

• DISCO Pharmaceuticals – Closed a €36M seed financing round to develop surfaceome-targeted ADC therapies.