Ireland’s Jazz is to pay AbCellera US$84 million for early research on the three antibody-based treatments for gastrointestinal cancers and other solid tumours, the Vancouver pharmaceutical company announced. Each drug, if it succeeds, could yield further payments for AbCellera of up to $792 million, plus royalties. (The Logic)

Talking point: AbCellera began as a drug-finding specialty company and had a spectacular but short-lived success with COVID-19 treatments; last year, it moved into developing drugs in its own pipeline as well. The Jazz deal is more in keeping with AbCellera’s original business, which still provides all of its revenue. It booked a US$41.4-million loss in its most recent quarter, an improvement from the same quarter in 2025. Jazz has also worked with Vancouver drug-discovery company Zymeworks, commercializing a Zymeworks-identified treatment for certain cancers.