U.S. drugmaker Eli Lilly has signed an agreement worth up to $1.12 billion with Seamless Therapeutics to develop and commercialize treatments for hearing loss using the biotech firm’s gene-editing platform, the Germany-based startup said on Wednesday.

Waters Corp (WAT.N) raised the lower end of its full-year profit forecast on Monday, following stronger-than-expected second-quarter results fueled by rising demand from biotech firms for its laboratory tools used in drug development and research.

Pfizer and 3SBio have finalized a licensing agreement that grants the US pharmaceutical giant worldwide rights to sell the Hong Kong-listed firm's cancer drug, marking the largest deal ever for a single drug in China’s biotech industry.

In a decisive move, the US House of Representatives has passed legislation to blacklist Chinese biotech companies and their US subsidiaries, despite a last-minute lobbying effort.