Several high‑value licensing and collaboration deals reshaped dealmaking this week. Aimedbio licensed a preclinical solid‑tumor ADC to Boehringer Ingelheim in a near‑$1 billion agreement that covers a KRAS‑targeting payload slated for phase 1 next year. Separately, Roche secured global rights to Hansoh Pharma’s early‑stage colorectal ADC for an $80 million upfront plus up to $1.45 billion in milestones, while Rani Therapeutics struck a pact with Chugai worth up to $1.09 billion to pair its oral delivery platform with a rare‑disease antibody. The transactions reflect biopharma’s appetite for ADCs and novel delivery platforms, shifting risk and capital toward larger partners with development and commercialization scale.