July 2026 was another active month for the antibody biotech sector, with deal activity ranging from multibillion-dollar acquisitions and antibody licensing agreements to ADC technology deals, AI-driven discovery partnerships, and major private financings. Immunology was a major focus, alongside growing investment in next-generation ADC payloads, multispecific antibodies, and AI-powered antibody discovery.
Immunology drove several of the month's largest transactions. argenx's $2.2 billion acquisition of Forte Biosciences, Spero's licensing of Innovent's anti-CD40L antibody, and several additional transactions added antibody programs for autoimmune and inflammatory diseases.
Novel ADC payload technologies continued to attract pharma interest. Novartis agreed to acquire Myricx Bio for $1.1 billion upfront plus up to $400 million in milestones, gaining its N-myristoyltransferase inhibitor (NMTi) ADC platform. Akari and Whitehawk also partnered to investigate combinations of spliceosome-modulating and topoisomerase I inhibitor payload technologies.
AI is moving deeper into antibody discovery and development workflows. Chai Discovery announced antibody-discovery collaborations with both Novartis and argenx and raised a $400 million Series C, while the Chemomab–Scipher combination plans to use Scipher's AI Network Medicine platform in the clinical development of nebokitug.
Multispecific antibodies continued expanding beyond oncology. July transactions included T-cell engagers for autoimmune disease, a TL1A × IL-23p19 bispecific for inflammatory bowel disease, and a dual-targeting B-cell receptor antibody for autoantibody-mediated disorders.
argenx × Forte Biosciences – argenx agreed to acquire Forte Biosciences for approximately $2.2 billion, adding FB102, a first-in-class anti-CD122 monoclonal antibody, to its immunology pipeline. FB102 has demonstrated clinical proof-of-concept in Phase 1b studies in vitiligo and celiac disease and is being explored for broader autoimmune applications.
Novartis × Myricx Bio – Novartis agreed to acquire Myricx Bio in a potential $1.5 billion deal. Myricx has developed a new class of ADC payloads based on N-myristoyltransferase inhibitors (NMTis), with lead ADC programs targeting B7-H3 and HER2. The platform is intended to offer a differentiated mechanism from commonly used ADC payloads such as topoisomerase I inhibitors.
Ipsen × Memo Therapeutics – Ipsen agreed to acquire Memo Therapeutics in a transaction carrying total potential consideration in excess of €700 million. The acquisition centers on potravitug, a Phase II monoclonal antibody directed against BK polyomavirus and being developed for BK polyomavirus-associated nephropathy in kidney transplant recipients.
Chemomab Therapeutics × Scipher Medicine – Chemomab and Scipher Medicine entered a merger agreement that will initially focus the combined company on nebokitug, a clinical-stage anti-CCL24 antibody. Scipher's AI Network Medicine platform identified CCL24 as a highly ranked therapeutic target in rheumatoid arthritis and will be used to support a precision-medicine Phase 2 trial.
Jasper Therapeutics × Kira Pharmaceuticals – Jasper completed its acquisition of Kira Pharmaceuticals, creating a broader pipeline of therapies for immunologically driven disorders. Antibody programs include briquilimab, an anti-KIT antibody, and KP-701, a dual-acting anti-CD79B × CD32B antibody being developed for autoantibody-mediated disorders. A concurrent private placement is expected to generate approximately $132 million in gross proceeds.
Synlogic × Caldera Therapeutics – Synlogic and Caldera entered a merger agreement to create a public company focused on CLD-423, a potential first-in-class TL1A × IL-23p19 bispecific antibody for inflammatory bowel disease and other immune-mediated diseases. Caldera also secured commitments for an approximately $278 million concurrent private placement intended to fund Phase 2 development in ulcerative colitis and Crohn's disease.
Spero Therapeutics × Innovent Biologics – Spero licensed exclusive rights outside Greater China to IBI355 (SP001), a Phase 2-ready, third-generation Fc-silent anti-CD40L antibody. Innovent is eligible for an upfront payment plus development, regulatory, and commercial milestones totaling approximately $1.1 billion, as well as tiered royalties. Spero plans to begin a Phase 2 study in IgG4-related disease in Q2 2027.
Mirador Therapeutics × Kira Pharmaceuticals – Mirador licensed worldwide rights to KP-301, a potentially long-acting anti-C5a antibody designed to inhibit C5a/C5aR-mediated inflammation. Kira will receive $12 million upon signing and is eligible for additional development and sales milestones. Mirador initially plans to develop the antibody for ANCA-associated vasculitis.
AbCellera × Vertex – AbCellera and Vertex entered a collaboration to discover and develop multispecific T-cell engagers for autoimmune diseases and other conditions. AbCellera will receive $28 million in total upfront payments and is eligible for preclinical, development, regulatory, and commercial milestones, as well as tiered royalties.
Kairos Pharma × Bayer – Kairos Pharma entered a strategic collaboration with Bayer to evaluate ENV-105 (carotuximab), an antibody targeting CD105/BMP signaling, in combination with Bayer's radium-223 therapy XOFIGO in metastatic castration-resistant prostate cancer involving bone.
ADC innovation in July extended to payload technologies, reflecting continued efforts to differentiate next-generation ADCs from established microtubule- and DNA-targeting payload classes.
Novartis × Myricx Bio – Myricx's NMTi platform introduces a different mechanism of action for ADC payloads. Novartis cited the potential for NMT inhibition to address limitations of commonly used payloads, including activity in models resistant to topoisomerase I inhibitors.
Akari Therapeutics × Whitehawk Therapeutics – The companies entered a research collaboration combining Akari's PH1 spliceosome-modulating payload technology with Whitehawk's TOP1i ADC platform. Initial preclinical studies will investigate dual-payload compatibility and potential synergies, with the resulting data intended to inform future development decisions.
Chai Discovery × Novartis – Novartis gained access to Chai's AI models, including Chai-3, to support therapeutic antibody discovery across multiple targets.
Chai Discovery × argenx – argenx entered a separate collaboration giving its scientists access to Chai's AI platform for de novo antibody discovery across therapeutic targets.
Chemomab × Scipher Medicine – The planned combined company will apply Scipher's AI Network Medicine platform to the development of anti-CCL24 antibody nebokitug. Scipher used its platform to rank CCL24 as a therapeutic target in rheumatoid arthritis and identify a potential treatment-response signature for patient selection.
These agreements point toward AI being applied at several stages of antibody R&D, from de novo molecular design and target selection to patient stratification in clinical development.
Chai Discovery – Chai raised a $400 million Series C, valuing the AI molecular-design company at $3.8 billion. Chai develops AI models designed to predict and reprogram molecular interactions and generate new molecular designs.
Trellis Bioscience – Trellis closed a $9 million Series C to support completion of its Phase 2 trial of calpurbatug (TRL1068), an investigational monoclonal antibody being evaluated for chronic prosthetic joint infections.
Caldera Therapeutics – In connection with its planned merger with Synlogic, Caldera secured commitments for an upsized $278 million private placement. The financing is expected to support development of the TL1A × IL-23p19 bispecific CLD-423 through Phase 2 trials in ulcerative colitis and Crohn's disease.
Jasper Therapeutics/Kira Pharmaceuticals – Alongside Jasper's acquisition of Kira, investors committed approximately $132 million to a private placement intended to advance the combined immunology pipeline through multiple clinical milestones.
July’s deal activity reflects how companies are trying to differentiate antibody therapies. In autoimmune disease, companies are looking for more selective ways to block disease-driving pathways or remove harmful immune cells. In ADCs, new and dual-payload approaches are expanding what antibodies can deliver directly to tumor cells. Meanwhile, AI is being used to connect antibody design with target biology, biomarkers, and patient selection.
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