Immunology and inflammation

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Bristol Myers Squibb and Hengrui Pharma logos

BMS signs $15.2bn R&D alliance with China's Hengrui

Hengrui agrees a $15.2bn R&D alliance with BMS in oncology/haematology and immunology, less than a year after a similar $12bn deal with GSK.

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Autoimmune disease biotech Odyssey sets terms for $225m IPO

After abandoning an IPO bid last year, Odyssey is trying again, emboldened by recent big-value listings that suggest 2026 could be a bumper year.

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Sanofi's bispecific lunsekimig has mixed readouts in phase 2

Sanofi's IL-13 and TSLP-targeting bispecific lunsekimig wins two, loses one, in readouts from its midstage clinical trials programme.

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Where others missed, AZ's IL-33 drug hits the mark in COPD

AZ's IL-33 inhibitor tozorakimab hits the mark in two late-stage COPD trials, raising the prospects of a class that has had some failures in the past.

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Novartis snaps up food allergy firm Excellergy for $2bn

Novartis has signed its second M&A deal in the space of a week, pledging to pay up to $2 billion to acquire US food allergy drug developer Excellergy.

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