China's biopharma firms including Hengrui Medicine and HUTCHMED actively pursue licensing partners for their drug assets as the economic downturn caused by domestic COVID flare-ups continues worsening. Meanwhile, there are some predictions that smaller biotechs in the country may need to tap into multinationals' deep pockets to raise new funds.

Deal Snapshot: Other major players have made headway in bispecifics for prostate cancer, while Jemincare’s drug is the latest China-developed technology to head westward.

Four Chinese biotech companies reach in- and out-licensing deals covering antibody drug conjugates, small molecules and vaccines as they continue to pursue and develop innovation.

An oral vaccine candidate from Hong Kong and domestically-developed antivirals and antibodies join the ongoing development fight as Tianjin city reports new Omicron outbreak.