Among the newer modalities to tackle cancer, antibody-drug conjugates are fast emerging to rival targeted antibodies and China is fast emerging as a world class source of innovation in the field, as evidenced by a string of recent deals.

BioNTech is betting on China's innovative capabilities by inking multiple deals with local startups to expand its pipeline beyond mRNA vaccines.

The deal, focused on a preclinical candidate and worth more than $1bn, follows DualityBio’s licensing agreement in April with BioNTech, amid growing interest among drug makers in ADCs.

Struggling antibiotic company will go privare under the agreement. Bayer will employ Acuitas's liquid nanoparticle technology in gene therapies developed by subsidiary Asklepios.