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Licensing analysis: Takeda saves the day

The Japanese group’s $1.2bn deal with Innovent is by far the biggest of the fourth quarter.

Neok plays a high-risk bispecific conjugate game

Armed with $75m the company takes a risky asset into the clinic.

Ellipses Pharma widens its orbit

The biotech licenses a China-developed anti-B7-H3 ADC.

M&A analysis: bolt-ons for J&J and Bristol

The biggest oncology buy of the quarter concerned the prostate cancer player Halda.

One Genmab Rybrevant challenge is rendered moot

GEN1286 looks dead, though MCLA-129 continues for now.

Innovent gives another cytokine a shot

Takeda picked up IBI363 for $1.2bn, and now Innovent advances IBI3026.