Thomas Smeenk

Excited to announce that Madrigal is expanding its MASH pipeline through a global licensing agreement for SYH2086, an oral GLP-1 receptor agonist. We believe combination therapies will play an important role in MASH patient care as the field evolves, and look forward to studying SYH2086 in a combination anchored by Rezdiffra. https://lnkd.in/ej9u639F

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Cross-border biotech deals often fail to deliver expected value. Over 15 years, we’ve closed 90+ deals on 5 continents despite being a boutique team. Here’s the framework that makes it work: Cross-border biotech deals often fail due to regulatory hurdles, pricing issues, and mismatched priorities. Here's how we avoid that fate: 1. Understand each market deeply Every region has its own commercial and regulatory frameworks, IP norms, and cultural context. We invest in learning that upfront because misalignment, not valuation, kills most deals. For instance, in China, most drugs are sold through hospital systems. If you don't know the distributors with hospital access, your product won't move. From volume-based pricing to the National Reimbursement Drug List (NRDL), every layer matters. Missing these details kills value before the deal is even discussed. 2. Surface hidden value others miss Our team has launched, manufactured, developed, and commercialized products in key global markets. That on-the-ground experience allows us to unearth hidden value. In Brazil, we generated additional gross margin by optimizing the global supply chain of our client's product. That gave the greenlight for the deal to proceed. In Japan, we understand the government's approach to drug loss and the policies addressing it. That lets us create favorable deal environments for Phase 2 companies. 1 in 3 cross-border deals only move forward after we reframe how value is understood on both sides. 3. Build strong trust-based personal relationships Teams that trust each other are more likely to collaborate, find solutions, and push internal alignment. Over 15 years, we've built relationships with decision-makers in every key market. That means we can speak directly to the people who matter. A quick yes mobilizes the org. A quick no saves months of useless conversations. 4. Once interest is real, move with precision Cross-border deals stall when teams lose focus. We act as deal leads: removing blockers, aligning terms, and setting the pace. Deals with clear cadence get done. 5. Keep teams lean and clear We run small, senior teams (3–4 core people) across all mandates. Big teams slow things down. Small teams close. In cross-border deals, clarity of purpose and focused execution beats headcount every time. Some quick metrics: • 90+ deals closed globally • Cross-border close rate >70% • Median close time: 6–9 months • Over 50% repeat clients Execution, not scale, is the differentiator. You don't need a big bank to close global biotech deals. You need clarity, follow-through, and credibility across borders. We've built that over hundreds of negotiations, through trust, not volume. If you're exploring global partnerships & want a partner who knows the path and the pitfalls, let's talk. At Kybora.com, we help leaders navigate cross border deals with clarity. Follow me for more on biotech M&A, strategy, global deals, and market shifts.

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“My meeting with LiKang's Chairman, Mr Zhuang Zhong, in Nanjing last Friday confirms that Intellego's products are currently being marketed and are in use with several larger hospitals in China while LiKang continues to prepare the broader market launch to coincide with new Chinese disinfection regulations which are expected to come into force in 2026 and to require the use of products such as Intellego's. LiKang is actively following the regulatory process and preparing the market. We reaffirmed our mutual commitment to our collaboration and our belief in its full potential“, says Intellego chairman, Greg Batcheller. Usage of our dosimeters in China is increasing and we look forward to the national regulations, expected in 2026, when 30 000+ hospitals MUST use products like Intellego’s (that these regulations were coming has been known for some time.) Due to this and based on previous cases, its now likley that its just a matter of time before EU, the US and other markets implement the same regulations.

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Argenica Therapeutics’s Stroke Trial Ticks the Right Boxes — But Did Investors Miss the Subtext This article from TechInvest looks at Argenica’ (ASX: AGN) Phase 2 trial results for its neuroprotective stroke drug, ARG-007. While the market punished the stock on news of "no overall efficacy," the real story is far more compelling. ✅ Primary endpoint met: ARG-007 is safe and well tolerated ✅ No drug-to-drug interaction with clot-busters ✅ Meaningful efficacy signal in predefined high-risk patients (15% reduction in infarct volume) With a strong cash runway, regulatory momentum, and a clear target population for future trials, Argenica may be misunderstood rather than misfiring. Read the full article to understand why this may be a classic biotech market overreaction — and what’s next for ARG-007. https://lnkd.in/gn8y5KSv As always, do your own research before making investment decisions. Dr Liz Dallimore Dianne Angus Mark Etherton Emma Waldon

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The biopharma industry is entering a new era of strategic #manufacturing realignment, and the scale of investment speaks volumes. The US–EU trade agreement announced in late July includes a 15% tariff on pharmaceutical imports. While implementation is pending the Section 232 investigation, expected to conclude in August, we’re seeing the continued acceleration of massive investments in domestic manufacturing as companies hedge against long-term policy and supply chain risk. Leading companies are making historic investments to strengthen domestic #supplychains, reduce geopolitical risk, and safeguard long-term patient access. Here’s what’s unfolding: - AstraZeneca: $50B commitment, including its largest-ever manufacturing hub in Virginia - Roche: $50B investment across multiple US states, creating 12,000+ jobs and expanding capabilities in gene therapy and glucose monitoring - Eli Lilly and Company: $27B to build four US “mega sites,” with two dedicated to synthetic chemistries for APIs—a critical capability long dominated by China - Biogen: $2B to expand its North Carolina footprint, reinforcing global supply resilience - Merck: $12B invested since 2017, with $9B more planned by 2028 These investments represent structural realignments in response to policy volatility and a growing recognition that manufacturing must be resilient, secure, and geographically aligned with patient needs. The current moment demands ingenuity in the design, location, and scalability of our manufacturing infrastructure.

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How will the industry meet the exploding demand for GLP-1 with so many compounds sailing through clinical trials? Semaglutide and tirzepatide were the first wave of blockbusters - many more are in the clinical pipeline!

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