As major patent expirations loom, pricing pressures intensify and R&D productivity comes under strain, large pharmaceutical companies are accelerating dealmaking to fill therapeutic and clinical-stage gaps. From early discovery to late-stage clinical assets, the hunt for differentiated science has become more competitive. What are big pharma companies really looking for — and how can emerging biotechs align their science and timing to meet those needs? This session will explore where collaboration is fruitful across various therapeutic areas and stages of R&D, and what kinds of partnerships, licensing deals and acquisitions are most likely to define the next phase of biopharma innovation.