AstraZeneca expanded its respiratory pipeline through a licensing deal with Sino Biopharmaceutical’s unit Chia Tai Tianqing Pharmaceutical Group for an ex-China PDE3/4 inhibitor, TQC3721. The agreement includes $200 million upfront and up to $2.1 billion in additional milestones, with royalties tiered to sales. In oncology, Novartis agreed to acquire Myricx Bio for up to $1.5 billion to add a next-generation ADC payload platform centered on N-myristoyltransferase inhibitors (NMTi). The deal combines Myricx’s ADC assets and a differentiated payload mechanism aimed at addressing resistance and dose-limiting toxicities seen with established classes. These moves extend the industry’s emphasis on platform differentiation—respiratory pharmacology with dual PDE inhibition and oncology payload novelty for antibody-drug conjugates. Both transactions suggest biopharma continues to focus M&A and licensing on late-stage clinical assets and modular technologies that can be deployed across multiple programs.