BioCentury This Week Ep. 316 - Trends in Pharma Deals
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Aug 19, 2025 Lauren Martz, Executive Director of Biopharma Intelligence, leads a discussion on the latest trends in pharmaceutical deals, revealing that bispecifics and degraders are gaining traction while cell and gene therapies are losing favor. Selena Koch, Executive Editor, shares insights from a recent conversation with Denali about advancements in brain shuttles. Karen Koch-Tusman highlights a groundbreaking FDA approval for a vector-based immunotherapy, suggesting potential new standards for treating rare diseases. Chinese biotech's growing influence is also addressed.
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Deal Volume And Appetite Have Slowed
- Pharma companies announced far fewer deals in the latest 12-month window compared with the prior period.
- There is reduced appetite for late-stage, well-validated assets among the 21 pharmas analyzed.
Cell And Gene Deals Declined Sharply
- Cell and gene therapy deal activity dropped dramatically in the period studied.
- That decline predates some recent safety and regulatory concerns but may worsen because of them.
Bispecifics And Degraders On The Rise
- Bispecific antibodies and targeted protein degraders increased among deals while ADC deals fell.
- China's biotech output is now broader across modalities, not limited to historical regional specialties.