At this year’s BIO-Europe conference, leaders from across the life sciences industry came together to examine how collaboration, creativity, and conviction are driving the next era of biopharma growth. Lumanity executives joined two highly attended panels—one exploring the evolving rhythms of M&A and business development, and the other examining the power of strategic service partnerships.
Across both discussions, a clear theme emerged: the path to innovation and patient impact depends on how effectively companies build and sustain meaningful partnerships—whether between small biotechs and global pharma, or between innovators and the ecosystem of service organizations that support them.
The Rhythms of M&A and Business Development in 2025 and Beyond
In an era of rapid scientific breakthroughs, evolving regulatory landscapes, and shifting economic pressures, biopharma dealmaking continues to grow in both opportunity and complexity. This Bio-Europe session—moderated by Ed Salzman, Senior Strategic Advisor at Lumanity—brought together senior executives from Merck, Novo Nordisk, Astellas, Ropes & Gray, and others to explore how the rhythms of M&A and business development are changing as the industry looks toward 2026 and beyond.
Panelists shared real world perspectives on the strategies driving today’s most impactful deals, from transformative mergers to asset-specific licensing agreements and cross-border collaborations. The conversation highlighted the need to balance ambition with agility as companies face ongoing valuation challenges and rising commercialization risks.
Several forces are shaping this new era of dealmaking:
- A decisive shift toward bolt-on acquisitions and asset-level deals, enabling both buyers and sellers to target strategic fit rather than scale for its own sake.
- The growing influence of China, whose rapidly maturing innovation ecosystem now contributes a significant share of global biopharma deal flow.
- The rise of AI-driven discovery, which is unlocking new efficiencies but challenging traditional valuation models and deal structures.
- The changing nature of risk, with commercialization hurdles increasingly seen as more daunting than scientific or regulatory ones.
The panelists agreed that conviction—not capital—is the industry’s most limited resource. Success depends on the ability of innovators to articulate why their science is both differentiated and relevant to a partner’s commercial priorities. The conversation also underscored the importance of cultural alignment and alliance management—skills often underestimated but essential for sustaining long-term value.
As the global M&A landscape evolves, the most successful partnerships will be those that blend strategic focus with creative collaboration—bridging the gap between groundbreaking science and real world patient impact.
Watch the full panel discussion: The Rhythms of M&A and Business Development in 2025 and Beyond
Is the Blend of Strategic Services the Secret Ingredient to Biotech Success?
From early research to commercial manufacturing, service providers now play a critical role in accelerating biopharma innovation. This session—moderated by Tom Murtagh, Joint Global Practice Lead, Strategy & Insight at Lumanity —brought together leaders from WuXi AppTec, Evotec, AGC Biologics, Indivomed, and Sofinnova Partners to discuss how CROs, CDMOs, and enabling technology platforms have evolved from behind-the-scenes partners to strategic catalysts for biotech success.
Panelists agreed that the next generation of service partnerships will be defined by shared purpose, flexibility, and trust. As biopharma companies seek to advance more complex science with leaner teams and tighter funding, these collaborations are becoming essential to capital efficiency and long-term resilience.
Key themes from the discussion included:
- Partnership as an extension of strategy — not merely outsourcing but co-creation, where risk, investment, and expertise are shared.
- Continuity across the development lifecycle, minimizing costly tech transfers and accelerating time to clinic.
- Alliance management and clear governance, ensuring transparency and fast problem-solving in an increasingly globalized industry.
- Cultural adaptability and face-to-face engagement, which remain vital for building trust amid hybrid and cross-border collaboration.
As the ecosystem continues to shift toward greater specialization, panelists emphasized that strategic service relationships can be a competitive differentiator—helping biotechs focus on innovation while leveraging the scale, technology, and know-how of expert partners. Investors also noted that companies demonstrating well-structured alliances tend to achieve milestones faster and deploy capital more effectively.
Watch the full panel discussion: Is the Blend of Strategic Services the Secret Ingredient to Biotech Success?
Looking Ahead
The insights shared across both panels reinforce a simple truth: collaboration remains the cornerstone of progress in biopharma. Whether through M&A, licensing, or strategic service alliances, success will belong to those who forge partnerships grounded in trust, clarity, and shared vision.
At Lumanity, we help organizations navigate these complex intersections, connecting innovation, evidence, and access to bring transformative therapies to patients worldwide. Connect with our experts to explore how strategic partnership, evidence generation, and commercialization insights can accelerate your path from discovery to access.
