Bristol Myers Squibb struck a multiyear collaboration with Harbour BioMed aimed at multispecific antibody discovery and development, a deal that includes about $90 million up front and could deliver up to $1.1 billion in milestones. Harbour will leverage its AI and proprietary platforms to advance targets across immuno‑oncology and complex biologic modalities. Harbour’s deal marks continued Big Pharma interest in China‑origin discovery engines and underscores a broader 2025 rush for external antibody innovation. The transaction arrives as Harbour expands AI capabilities and signs multiple industry partnerships, signaling a strategic pivot to discovery‑centric business models that monetize platform and specialty expertise.