Inmagene Biopharma of Shanghai transferred 7.5% of its shares to HutchMed for global rights to two clinical stage immunology assets. It will also be responsible for up to $230 million in milestones.

Shanghai’s Elpiscience Biopharma has formed a $1.7 billion collaboration with Japan’s Astellas Pharma to develop a novel bispecific macrophage engager, ES019, along with an unspecified program. Initially, Elpiscience will receive up to $37 million.

LianBio received a $465 million buyout offer from Tang Capital Management. In addition, Tang also offered shareholders a contingent value right for 80% of net proceeds from any license or divestment of a LianBio holding.

While ANL's IPO dropped more than 25% on its first day, netting just under $60M, private placement made up the difference. Plus: Deals, financings, trials and approvals.

BeiGene and Bristol-Myers Squibb have formally completed the breakup of the BeiGene-Celgene partnership, returning 23.3 million ordinary BeiGene shares to BeiGene. Meanwhile, Gracell Biotechnologies raised $100 million in a private placement.