Two licensing deals announced over the holidays reshuffled oncology pipelines. AbbVie paid $100 million upfront for ex‑China rights to Zelgen’s trispecific DLL3 T‑cell engager alveltamig, a deal worth up to $1.175 billion in near‑term and milestone payments plus tiered royalties. Separately, Gilead paid $25 million upfront to license Repare Therapeutics’ Polθ ATPase inhibitor RP‑3467. AbbVie’s agreement secures a next‑generation T‑cell engager targeting DLL3, a high‑expression marker in small‑cell lung cancer, and signals renewed big‑pharma appetite for multispecific T‑cell engagers. Gilead’s deal with Repare accelerates access to a synthetic‑lethality program targeting Polθ with potential in BRCA‑deficient tumors. Both transactions illustrate continued year‑end strategic portfolio buying to replenish clinical pipelines.