Chinese developers are racing to roll out bispecific ADCs with different target combinations, while a Biokin/SysImmune executive estimates more than $20bn in annual sales for the company's BMS-partnered EGFR x HER3 candidate, as R&D in the field continues to surge ahead in China.

In the private market, eight Chinese biotechs raised a combined $116m in deals backed by venture capital and private equity firms over the past few weeks.

AstraZeneca licenses bispecific cancer antibody candidate from Harbour Biomed. Regeneron seeks new approach to gene therapy delivery in deal with ViGeneron.

BeiGene’s $3.5bn Shanghai IPO and CANbridge’s Hong Kong listing, as well as Dizal’s offering on the STAR market and five financing rounds totaling $508.5m help set a record for Chinese biotech fundraising in the last month of 2021.