Emerging Company Profile: Akeso's lead compound is the bispecific antibody AK104, which targets the checkpoints PD-1 and CTLA-4. It will be advanced globally with a first indication in gastric and gastroesophageal junction cancers. This is the first in a series of China-based emerging company profiles.

Celgene reworks its collaboration with Abide, dropping its buyout option. Roivant gains Chinese rights to anti-infective lemafulin and adds a fifth candidate to Dermavant's pipeline, while pSivida acquires Icon and FDA-approved Dexycu for cataract surgery inflammation.

Sandoz acquires rights to extended-release bupivacaine once held by Nycomed and Hospira in deal paying Durect $20m up front. Video interview: Partners Elasmogen and Feldan collaborate with Amgen.

As predicted by Scrip last July, WuXi AppTec has moved one step closer to spinning out its biologics unit through an IPO on the Hong Kong equity market, while its main business unit is also proceeding with plans for a China domestic relisting.