Boehringer Ingelheim extended its RNA splicing collaboration with Envisagenics in a deal that could total more than $1 billion. Boehringer will apply Envisagenics’ SpliceCore platform to validate tumor-specific targets across multiple modalities, including antibody-drug conjugates, T-cell engagers, and multispecific antibodies. In parallel, Novartis signed a preclinical radioligand therapy licensing agreement with BoomRay Pharmaceuticals valued up to $900 million, extending its radiopharma portfolio as competition intensifies in radioligand therapy approaches. The two transactions underscore a broader industry shift: large platforms are consolidating access to novel target biology and next-wave radiopharma assets, aiming to reduce discovery risk while accelerating time to registrational development.