An article titled "KeyMed’s NewCo Deal Taken Over by Gilead, With US$257 Million Upfront Payment Received" reported on KeyMed Biosciences’ latest NewCo transaction and the completion of Ouro Medicines’ acquisition by Gilead and Lakefront Biotherapeutics.
The article mentioned that at the 2026 ChinaBio Partnering Forum held in late April this year, Chuan Sun, managing partner of Morrison Foerster’s Shanghai and Hong Kong offices, said that the NewCo model was “much more complex and more difficult to execute” than traditional out-licensing transactions, but that the model was not suitable for every company, especially those with only one or two core assets and limited ability to accept dilution of strategic control over their key value drivers. He also noted that one of the most important factors in a NewCo structure was the quality of the participating financial investors, including “their background, resource network, and track record."