BeiGene, Hengrui Among China Firms Flexing New Oncology Muscle At ASCO
In its bid to facilitate novel treatments for some of its most prevalent cancers, China is also poised to make a dent in the global oncology market through domestically originated agents, with the number of PD-1 and CAR-T therapies under clinical development already surpassing that in the US.
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BeiGene’s license agreement with Leap Therapeutics covers Asia, except for Japan, along with Australia and New Zealand. Apollomics obtains rights in China and beyond to GlycoMimetics’ e-selectin antagonists.
China has officially unveiled its newest stock market for pre-revenue high-tech companies, already attracting ChipScreen and marking a new rival to similar bourses in the US and Hong Kong. But some are cautioning that local regulators and investors will need to step up if the so-called China Nasdaq is to gain traction.
Jiangsu Hengrui’s anti-PD-1 antibody is the latest to hit the immuno-oncology market in China, ensuring a fierce battle in pricing and reimbursement. Other recent new approvals include Pfizer’s antibacterial Zavicefta and a first-in-class topical treatment for psoriasis.