Antibody discovery and development remain strategic priorities for major pharmaceutical companies, as evidenced by the significant deal activity in 2025. While the broader biotech sector faced macroeconomic headwinds, antibody-based therapeutics, particularly bispecific antibodies, antibody-drug conjugates (ADCs), and Fc-fusion constructs, continued to attract substantial investment. A close analysis of the top antibody biotech deals in 2025 reveals several trends guiding Big Pharma’s partnering strategies as we enter 2026.
Below is a review of major antibody-focused deals, organized by size and strategic relevance, followed by emerging trends driving these transactions.
In the largest antibody-related transaction of 2025, Novartis acquired Avidity Biosciences in a $12 billion definitive merger agreement. The acquisition grants Novartis access to a pipeline of antibody-oligonucleotide conjugates (AOCs), a novel therapeutic class that combines the targeting precision of antibodies with the gene-modulatory capabilities of oligonucleotides. This move positions Novartis towards next-generation biologics targeting neuromuscular and rare genetic diseases. The AOC modality is particularly attractive due to its ability to expand antibody applications beyond traditional extracellular targets.
Takeda entered a strategic partnership with Innovent Biologics focused on a bispecific antibody fusion protein platform and related assets. With a potential value up to $11.4 billion, the collaboration enhances Takeda’s capabilities in multispecific antibody formats for oncology and autoimmune disorders. Innovent brings a pipeline of differentiated biologics with competitive development timelines, and this deal underscores Takeda’s commitment to external innovation in Asia.
Bispecific Antibody Expression →
BioNTech and BMS formed a global strategic partnership around BNT327, a bispecific antibody candidate for multiple solid tumors. The collaboration includes co-development and co-commercialization rights and reflects growing interest in tumor-targeted bispecifics capable of redirecting immune effector functions. The partnership leverages BioNTech’s immuno-oncology platform and BMS’s late-stage development infrastructure.
Merck acquired Cidara Therapeutics for $9.2 billion to broaden its respiratory late-stage antiviral pipeline. Cidara’s lead candidate is an Fc-conjugated small molecule inhibitor designed for extended half-life antiviral prophylaxis. This transaction highlights an emerging class of therapies combining antibody Fc domains with non-protein payloads for improved pharmacokinetics.
Genmab acquired Merus in an $8 billion deal, gaining access to petosemtamab, a late-stage bispecific antibody with Breakthrough Therapy Designations. This acquisition deepens Genmab’s bispecific oncology pipeline, as it targets head and neck cancer. The deal also reflects the value placed on regulatory acceleration pathways in partnership valuations.
Pfizer entered a licensing agreement with China-based 3SBio for access to a PD-1/VEGF bispecific antibody. Pfizer paid $1.25 billion upfront as part of a $6 billion total deal value. SSGJ-707 is in several clinical trials for non-small cell lung cancer, metastatic colorectal cancer, and gynecological tumors.
Eli Lilly signed a $2.6 billion licensing and joint research agreement with ABL Bio focused on bispecific antibody formats. ABL Bio’s platform enables generation of multiple therapeutics across modalities and therapeutic areas.
Novartis also acquired Anthos Therapeutics, adding the late-stage monoclonal antibody abelacimab to its portfolio. Abelacimab is a novel, investigational, highly selective, fully human monoclonal antibody that binds tightly to Factor XI to block its activation and prevent the generation of the activated form (Factor XIa). This mimics natural Factor XI deficiency, which is associated with protection from thromboembolic disease.
GSK partnered with ABL Bio to license the Graboody-B platform, a shuttle system for BBB transport of antibodies. The $2.5 billion deal includes the development of antibody formats for neurological disorders.
AbbVie and Xilio Therapeutics formed a collaboration focused on masked T-cell engagers for tumor-selective activation. With $52 million upfront and a total deal potential of $2.1 billion, Xilio’s approach aims to improve therapeutic index by localizing anti-tumor activity only in the tumor microenvironment.
Novo Nordisk signed a $2.1 billion licensing deal with Omeros for the MASP-3 inhibitor zaltenibart, which is an investigational humanized monoclonal antibody that selectively targets mannan-binding lectin-associated serine protease-3 (MASP-3).
These formats are favored for their modularity and potential to address tumor escape mechanisms, resistance pathways, and tissue specificity. Solid tumors remain the primary indication, but expansion into CNS and autoimmune conditions is evident.
Fc-conjugates, AOCs, and masked antibodies are looking to enhance efficacy while managing toxicity and delivery limitations. Antibody engineering has moved beyond antigen specificity to include functional tuning of pharmacokinetics, payloads, and local activation.
The blood-brain barrier is a challenge for antibody therapeutics, as it acts as a protective layer that blocks large molecules from entering the central nervous system (CNS). As more CNS disorders are explored with biologics, antibody therapeutics with BBB penetration could transform treatment paradigms for Alzheimer’s, Parkinson’s, and rare neuroinflammatory diseases.
U.S.- and EU-based pharma companies increasingly seek partnerships in Asia, with China and South Korea emerging as innovation hubs in antibody discovery. Deals with 3SBio, Innovent, and ABL Bio underscore the global nature of antibody R&D pipelines.
While oncology remains dominant, deals for cardiovascular (Anthos), infectious disease (Cidara), and complement pathway targets (Omeros) show the therapeutic reach of antibody-based platforms is broadening. The trend aligns with a diversified risk approach and expansion into specialty indications.
The antibody discovery landscape in 2026 is characterized by intensified investment in next-generation formats, globalized collaboration networks, and therapeutic diversification beyond traditional oncology applications.
Artificial intelligence has greatly improved therapeutic antibody development, n……
Antibody affinity is a core metric in immunology and biopharmaceutical science. ……
A roundup of the biggest antibody biotech and pharma deals in December 2025.
The antibody therapeutics landscape continues to evolve rapidly, with 2026 marki……
You can also contact us on the Scientist and Science Exchange marketplaces.
