The average value of tech transfer deals in the pharmaceutical industry is likely to be the highest in 2017 over the last decade, research firm GlobalData said.
China-based Innovent Biologics, Inc. came out on top by signing a $457 million licensing agreement with The Shanghai Institute of Organic Chemistry CAS to develop cancer fighting indoleamine 2, 3-dioxygenase, or IDO, inhibitor.
Except for 2012, the total number of deals in the industry has been on the rise in the last decade even though the aggregate value of the deals varies annually, GlobalData said in a report.
Another Chinese drugmaker, CSPC Pharmaceutical Group Ltd., gained attention as it entered a $118.5 million licensing agreement with the University of Texas Health Science Center to access two antibodies that can treat spinal cord injury and cancer.
"Technology transfers enable universities to license the therapeutics they are developing. Monitoring recent deals may provide an insight into future drug developments," said Lisa Marris, healthcare analyst at GlobalData.