In a notable industry shift, Xoma Royalty Corporation acquired two struggling biotechs, HilleVax and Lava Therapeutics, in deals involving cash and milestone payments aimed at revitalizing pipelines. Meanwhile, OrbiMed secured $1.86 billion for its growth-oriented healthcare fund amidst challenging equity markets, highlighting investor appetite for biopharma innovation. Also, Repligen and Novasign formed a strategic partnership to integrate AI-driven digitalization into bioprocessing, illustrating ongoing technology-driven industry transformation.