There is life beyond ADCs and GLP-1s. Given the level of attention these particular areas have received in recent years, it can be hard to remember that – but it was a key message from our recent webinar, “Unlocking Innovation: What pharma deals reveal about tomorrow’s therapies”. Our business development and licensing experts investigated where we can find the next big growth opportunities in pharma. Evaluate’s BD&L consultants Ben Folwell and Sofia Petta were joined by guest speaker Sachin Purwar from Norstella’s Dedham Group
2025 has finally seen an uptick in dealmaking, suggesting a much-needed recovery in the sector. While the number of deals is not especially high, average deal value is up, with Q3 of 2025 being the first quarter with an above-$1bn average deal size since 2023.
With that as the backdrop, there was lots covered in the webinar. Here are my top three takeaways:
- Dealmaking provides a great glimpse into the future. It’s no crystal ball but using dealmaking activity as a vehicle for analysis about future trends provided a fascinating view of hot new areas of innovation. What was interesting in this analysis was that our experts combined deal trends with predictive sales data to provide a strong proxy for the up-and-coming technologies that could be the blockbusters of the future.
- Biologics lead the charge. Seven of the top ten mechanisms drawing industry attention are now biologic or novel modalities. The sector is moving away from traditional small molecules, embracing disease-modifying strategies like protein degraders, T-cell engagers, and advanced RNA platforms. This isn’t just scientific progress, it’s a commercial shift, potentially opening new doors for tackling tough, previously “undruggable” diseases.
- Platforms and partnerships matter. Platform technologies are fueling the next wave of innovation. From bispecific T-cell engagers moving into solid tumors to circular RNA enabling longer-lasting treatments, the focus is on engines that can drive multiple advances. The panel also highlighted some unpartnered assets, to provide a guide of the types of therapies that are out there for companies that need to catalyze growth, particularly in the face of the patent cliff.
If you want to see where the next wave of therapies might emerge, or just want to hear more from the experts, you can find the full on-demand version of the webinar here. And if you have questions about the data or about how our consultants can help you to identify the right assets to boost your portfolio, you can get in touch here.
