Roche partners with Defand Therapeutics in $1 billion degrader deal, fourth China partnership since August

Roche enters a partnership with Chinese startup Defand Therapeutics to discover new medicines in a deal valued at nearly $1 billion. This collaboration marks a shift from traditional licensing of Chinese drug candidates toward joint discovery. In other biotech developments, Bristol Myers Squibb reports that its multiple myeloma drug Zenbexus reduced disease progression risk by 51% in a Phase 3 trial, and Viatris agrees to acquire Pacira Biosciences for $1.65 billion.

Roche's partnership with Defand Therapeutics

• ▪The partnership between Roche and Defand Therapeutics, announced on October 8, 2026, focuses on collaborative discovery of new medicines, representing a shift from traditional licensing of existing Chinese drug candidates.
• ▪Pharmaceutical companies have increasingly sought to license existing drug candidates from biotechnology firms in China over the past few years.
• ▪Roche partnered with Chinese startup Defand Therapeutics to discover new medicines in a deal valued at just under $1 billion if all milestones are achieved.

Bristol Myers Squibb's Zenbexus

• ▪Bristol Myers Squibb announced on October 8, 2026, that its multiple myeloma drug Zenbexus reduced the risk of disease progression by 51% compared to standard therapy in a Phase 3 trial.
• ▪The multiple myeloma drug Zenbexus, developed by Bristol Myers Squibb, recently received accelerated approval from the United States Food and Drug Administration.