Global pharmas move new drug development partnerships earlier

Half of pipelines built on external innovation...early investment and licensing go hand in hand

Disease biology, therapeutic technologies and patient needs guide partnerships...Deal terms tailored to each partner

Beyond differentiated technology, development and funding plans...Early engagement with global experts

Global pharmaceutical companies are moving the start of drug development partnerships to well before a deal is signed. The companies are increasingly identifying external technologies at the earliest stages of research and assessing potential collaborations alongside biotech companies' development and financing strategies.

At the 2026 KDDF CPG Symposium hosted by the Korea Drug Development Fund (KDDF) on Oct. 12, Boehringer Ingelheim, Astellas and Bayer outlined their approaches to external innovation.

While their partnership models differ, all three companies emphasized the importance of identifying promising technologies early and building relationships over time.

Building connections from early research...investment and partnerships forged before licensing

Fei Shen, Head of Business Development and Licensing USA and Global Therapeutic Area Inflammation Strategic Partnership at Boehringer Ingelheim, said approximately 50% of the company's pipeline is based on external innovation. The company draws on both its business development organization, which licenses drug candidates, and its venture arm, which invests in early-stage companies, to access external technologies.

Shen said, “We use multiple approaches to bring external innovation into the company.” The venture arm participates in company formation and seed-stage financing through minority equity investments, while the business development and licensing team seeks preclinical and clinical assets that complement Boehringer Ingelheim's pipeline.

Another avenue for collaboration is opnMe, a platform through which the company makes internally characterized compounds available to external researchers. Researchers can use these compounds in their own work or explore joint research opportunities with Boehringer Ingelheim.

Shen cited the company's antibody-drug conjugate (ADC) collaboration with Korea's AimedBio as an example of licensing external technology. Last year, Boehringer Ingelheim signed a co-development and licensing agreement with AimedBio for an ADC candidate. Shen said AimedBio's technology aligned with the company’s direction of ADC research.

Shen said, “We believe science knows no borders. We are seeking partners in Korea and other regions.” The emphasis, she explained, is on the scientific potential of a technology and its relevance to the company's research needs, rather than where it originates.

Astellas, meanwhile, highlighted the alignment between external technologies and its research priorities. Minoru Kameda, Scouring & Transaction Lead of the Business Development division at Astellas, said the company identifies development opportunities by bringing together an understanding of disease biology, therapeutic technologies and unmet patient needs.

Kameda said, “We start by understanding the biology of a disease and its impact on patients' lives. We then combine therapeutic technologies with disease insights to identify promising treatments.”

In other words, Astellas looks beyond whether a technology is novel to consider which patients it could benefit and how it might change treatment outcomes. The company also highlighted its ability to offer partners capabilities spanning R&D, medical affairs, manufacturing and commercialization.

The company stated that deal terms will be tailored to each individual partnership. Kameda said, “We are ready to adapt deal types, terms and timelines to our partners' needs, without being constrained by existing transaction structures or precedents.” The structure of an agreement may therefore vary according to a technology's stage of development and the objectives of the collaboration.

(from left) Fei Shen, Head of Business Development and Licensing USA and Global Therapeutic Area Inflammation Strategic Partnership, Boehringer Ingelheim; Minoru Kameda, Scouring & Transaction Lead of the Business Development division, Astellas; and Nobu Kazama, Head of Collaborate to Cure Japan Hub, Bayer.

Beyond technology value, development and funding plans must stand up to scrutiny

Nobu Kazama, Head of Collaborate to Cure Japan Hub at Bayer, focused on what Korean biotech companies should prepare before approaching global partners. Kazama noted that licensing discussions are moving toward earlier stages of development, while acquisitions increasingly focus on more advanced assets with lower development risk.

Even companies built around platform technologies need a lead development program that demonstrates the platform's potential, he said. They should be able to present clear development objectives and explain how funding will be allocated so that prospective partners and investors can evaluate the opportunity.

Kazama said, “Platform companies need a lead program and a plan for how they will use their funding. Demonstrating value through that lead program can support broader partnerships down the road.”

He also encouraged biotech companies to engage with global experts early to refine their plans. Clinical experts can help assess whether a technology's differentiation is meaningful for patient care, while investors can evaluate the credibility of funding plans and development milestones. Discussions with pharmaceutical companies can also help identify the evidence needed for future partnerships in advance.

Young-Min Park, CEO of the Korea Drug Development Fund

Kazama said, “Conversations with global experts help companies test their assumptions. They should use that feedback to refine development priorities and funding plans, generate new evidence, then return for further discussions.”

Bayer's Co.Lab Connect Seoul, launched in Korea this year, was presented as one program designed to facilitate such exchanges. It allows early-stage Korean biotech companies to present their research and development strategies to Bayer's global R&D experts and investors and receive feedback. Kazama emphasized that relationships initiated in Korea could eventually extend to other Bayer locations worldwide.

Kazama said, “The best conversations begin before a formal deal becomes necessary. Prepare for partnerships early and start talking well before you need a transaction.”

In his opening remarks, KDDF CEO Young-Min Park stressed the importance of global collaboration in translating research achievements into actual drug development. Park said, “Turning promising science into successful medicines requires strong global partnerships and capabilities. I hope these discussions will deepen understanding between Korean biotech companies and global partners, leading to new partnerships and tangible outcomes.”