Regeneron expanded its multispecific antibody capabilities via a strategic collaboration with ModeX Therapeutics. The agreement includes a modest upfront payment and potential development, regulatory and commercial milestones exceeding $1 billion, signaling Regeneron’s commitment to next‑generation antibody modalities. Regeneron’s effort with ModeX is intended to accelerate multispecific drug discovery and broaden its biologics toolbox. The collaboration leverages ModeX’s platform and Regeneron’s development and commercial scale to advance programs across immunology and oncology. The pact reflects a broader industry tilt toward multispecifics as companies seek higher efficacy and combinatorial targeting in difficult‑to‑treat diseases; watch for program selection and early preclinical readouts as the next value inflection points.