Strategic partnerships and capital raises marked the biopharma landscape, with Bristol Myers Squibb spinning off five autoimmune assets into a new company supported by $300 million from Bain Capital. GSK and Hengrui Pharma inked a $500 million upfront deal, licensing a COPD drug and additional assets potentially worth $12.5 billion. Radiopharma startup Artbio secured $132 million for its prostate cancer program. In the UK, Concept Life Sciences partnered with Fios Genomics to enhance data analysis capabilities, broadening integrated solutions from discovery to clinic across multiple therapeutic areas.