On December 10, 2025, Lingko Pharmaceuticals and Formation Bio made a joint announcement stating that Formation Bio has obtained exclusive global development rights (with the exception of Greater China) for LNK01006, a next - generation, central nervous system (CNS) - penetrant, and highly selective TYK2 inhibitor developed by Lingko Pharmaceuticals. These rights will be exercised through its subsidiary, Bleecker Bio. Recently, LNK01006 has been granted Investigational New Drug (IND) approval by the U.S. Food and Drug Administration (FDA). Formation Bio has laid out plans to commence Phase I clinical trials in the first half of 2026. This particular inhibitor boasts distinct pharmacological properties, which open up the possibility of exploring multiple potential medical indications. In line with the agreement, Lingko Pharmaceuticals will acquire a stake in Bleecker Bio. Additionally, it stands to receive payments and sales royalties, which could amount to up to $605 million. The investment fund, Pacific Bridge NY, will join in as a minority co - investor in this collaborative effort. Formation Bio places artificial intelligence (AI) technology at the heart of its operations, using it as a key driving force to boost the efficiency of drug development. Lingko Pharmaceuticals, on the other hand, is dedicated to the research and development of innovative drugs aimed at treating immune and inflammatory diseases. Meanwhile, Pacific Bridge NY mainly focuses its investments on innovative biopharmaceutical projects.