When Johnson & Johnson moved to purchase surgical robot developer Auris Health in 2019 for $3.4 billion in cash, like in many life science transactions, it agreed to pay out more—in this case, billions more—if the technologies it acquired went on to surpass certain goals.

Lykos Therapeutics CEO and founder Amy Emerson is stepping down, with Chief Operating Officer Michael Mullette taking over the top spot on an interim basis.

Novartis is opening a new frontier in its collaboration with Voyager Therapeutics, paying $15 million to take up its option on a novel capsid for use in a rare neurological disease gene therapy program.

You don’t hear about special purpose acquisition company (SPAC) mergers too much these days, but Medera is set to change that as the cardiovascular-disease-focused biotech dusts off this lesser-used pathway to the public markets.

Eli Lilly has vaulted into an AI-enabled drug discovery deal, partnering with RNA specialist Genetic Leap in a pact worth up to $409 million in upfront and milestone payments.

Just a few months after dosing the first patient in a phase 2 trial for newly diagnosed glioblastoma, IN8bio is hitting the brakes—and laying off half of its workforce.

After raising $170 million back in February, metabolic disease-focused BioAge Labs has filed to debut on the public market.

Arsenal Biosciences is moving on up. The cell therapy company has added on $325 million in ammunition with big-name backers like Regeneron joining the artillery as the biotech sets out to build the biggest—and best—house on the block.

Eli Lilly’s hunt for obesity targets has led it to the dark genome. The Big Pharma has put together a deal worth up to $1 billion in biobucks to partner with Haya Therapeutics to find multiple regulatory-genome-derived RNA-based drug targets.

Aelis Farma’s hopes of securing a quick, positive decision on a $100 million option payment have gone up in smoke. The French biotech reported the failure of its phase 2b cannabis use disorder (CUD) study Wednesday, prompting its partner Indivior to say it doesn’t currently expect to exercise its option.