Highlighted by SK Biopharmaceuticals’ recent decision to acquire the US-based ProteoVant Sciences, Korean pharma firms are stepping up deals and collaborations in the hot TPD space, which is expected to continue to attract global investors and big pharma interest.

Deal-making between big pharma and biotech looks set to rise with a looming patent cliff increasing the need for the former to replenish its pipelines. Meanwhile, biotechs need partners to help them advance amid the ongoing big freeze on raising cash on public markets.

With valuations down and borrowing costs up, many industry insiders are expecting Darwinian scenes in biotech this year. Survival of the fittest is the order of the day: companies with riskier, less commercially defined propositions will struggle, while platform companies with multiple shots on strong goals will increasingly find favor in a more risk-averse environment.

PARP inhibitors have had great success in treating a number of cancers but the German major has placed a $65m bet that Nerviano's selective PARP1 approach could produce a safer and more efficacious option.