Rare disease and cancer treatments are front and center in the latest batch of China new drug approvals, while biosimilars are expected to move into the spotlight.

Lilly is acquiring exclusive global rights to a Chinese domestically developed immuno-oncology drug in one of the year’s biggest commercial deals in the country.

Just three years after its founding, Chinese cell therapy developer IASO Bio already has two assets in clinical development and the Nanjing firm has recently attracted $60m in financing. In an exclusive interview, its R&D head told Scrip that speed and partnerships are propelling Chinese developers on a trajectory to quickly catch up with the west in the emerging cell-therapy arena.

Recent serious developments and flare-ups between the US and China send chills in investor community, raising grave concerns and increasing uncertainty over cross-border deals and fund flows, amid an ongoing global health crisis.