The unprecedented deal between two public Chinese biotechs, Innovent Biologics and Ascentage Pharma, potentially provides an opening for more such mega-million dollar deals to come.

Plus deals involving Y-Biologics/Pierre Fabre, Contera/Abzu, Chugai/Alebund, Catalyst/DyDo, Spergogenix/Abbiska, Nippon Gene/ERS Genomics, Simcere/Vivoryon, Dr. Reddy’s/Journey Medical and Innovent/Synaffix.

Novo gets worldwide development and commercial rights except for Heartseed’s home market in Japan. LianBio unveils licensing partnerships with Lyra, Landos and Nanobiotix.

Within months, one of the three latest immuno-oncology drugs from Chinese firms Innovent, Junshi and Akeso is likely to be approved, providing new competition to global giants such as BMS and Merck & Co. as they race each other over to the finish line.