The company, which brought in four antibody-drug conjugates last year through dealmaking, outlined development plans for its Phase III candidate during a Q4 sales and earnings call.

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.

BeiGene co-founder and chair of the major global biotech's Scientific Advisory Board, Dr. Xiaodong Wang, sits down with Scrip in an exclusive audio interview to shed light on the rapid rise of China's biotech innovation, the country's role in BeiGene's global strategy and the next big things to watch.

Biotech entrepreneurs tend to be an optimistic group, and there were many pockets of hope for 2024. However, the consensus remains that depressed valuations and paucity of fresh funds will continue to pose a challenge for the sector, and companies will need to prioritize carefully and work even harder to demonstrate and create value.