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.

Hangzhou Betta Pharma acquired greater China rights for a novel non-small cell lung cancer drug from Boston’s C4 Therapeutics in a deal worth up to $392 million. Additionally, Lynk Pharma of Hangzhou raised $28 million in a Series C1 financing.

Duality Biologics out-licensed global rights (ex-China) for two ADC candidates to BioNTech, Pfizer’s partner, for one of the two original COVID-19 vaccines in a deal worth $170 million upfront and up to $1.5 billion in milestone payments.

Shanghai’s HutchMed out-licensed global rights for a colorectal cancer therapy to Japan’s Takeda in a deal worth up to $1.13 billion, including $400 million upfront. In addition to the $1.13 billion, HutchMed will also pay royalties on net sales.