Yarrow Bioscience, backed by RTW Investments, struck a near‑$1.37 billion deal to secure ex‑China rights to GS‑098, a TSH receptor antibody developed by Shanghai Scizeng (GenSci). The agreement features $70 million up front and up to $1.365 billion in milestones plus tiered royalties, giving Yarrow a potential lead asset against Graves’ disease and thyroid eye disease. GenSci’s GS‑098 is designed to block autoantibody activation of the thyroid‑stimulating hormone receptor and has already cleared clinical trial starts in China and the U.S. The companies framed the collaboration as an opportunity to accelerate global development and regulatory filings; Yarrow will lead ex‑China clinical strategy and commercial planning while GenSci retains China rights and milestone economics.