Also known as: multi-specific antibodies, multispecific antibodies
China has become the dominant source of external drug innovation, with pharma licensing deals reaching $135.7 billion in 2025 and China developing 30% of the world's new innovative drugs. Meanwhile, India is expanding AI use in drug discovery and strengthening its CRDMO and IP infrastructure, though investment gaps persist.
AI-driven drug discovery attracts major investment and partnerships: Galux closes $29M Series B, LG Chem partners with LabGenius on cancer antibodies, Cheiron raises $8M seed, and Peptris secures $7.7M. Galux also teams with AimedBio on BBB-crossing proteins.
China's biotech overseas technology transfer agreements reached $137.7 billion in 2025, nearly ten times the 2021 figure, as global drugmakers rush to acquire Chinese candidates. BeiGene's Brukinsa surpassed $4 billion in global sales, while Pfizer agreed to a deal with Innovent Biologics worth up to $10.5 billion. U.S. lawmakers are raising security concerns about growing dependence on Chinese biotech.
Global oncology drug spending is projected to reach $467 billion by 2030, driven by novel modalities like ADCs and bispecifics, but growth will slow due to patent expirations for key drugs like Keytruda and Lynparza. R&D is shifting, with novel modalities accounting for 33% of clinical trials in 2025. The industry is also seeing broader innovation and investment, with new blockbuster contenders emerging across multiple therapeutic areas.
CStone Pharmaceuticals received FDA IND clearance to begin a Phase II trial of CS2009, a trispecific antibody targeting PD-1, VEGF, and CTLA-4, in advanced solid tumors across nine cancer indications.
