The Global Biopharma Leadership Forum 2025 brought together executives, investors, and innovators in Boston for a day of forward-looking discussion on the future of drug development and cross-border collaboration. Designed as a platform for high-level exchange, the forum featured four focused panels exploring investment dynamics, scientific partnerships, AI in R&D, and deal structuring across global markets. 

These sessions underscored the impact of geopolitical shifts, the need for flexible financial and deal-structuring frameworks, and the strategic alignment of licensing, NewCo formations, and M&A pathways to drive innovation and growth in the biopharma sector. Panelists shared real-world case studies and perspectives on how to navigate today’s complex environment and build resilient, forward-looking collaborations across borders. 

Panel 1: Navigating Cross-Border Deals and Scientific Leadership 

Moderator 

• Echo Hindle-Yang, Founder & CEO, MSQ

Panelist 

• Josh Berlin, Head of Corporate Alliances & Business Development, BioCentury

• Nikhil Mutyal, Head of Search and Evaluation, AstraZeneca

• Alex Cogdill, Head of Strategic Initiatives, Global BD, Daiichi Sankyo US

• Jens Bitsch-Norhave, Corp VP, Global Head of Corp Dev, BD, AM & Strategy Hengrui Pharma

• Weiyong Sun, Chief Business Office, Hansoh Pharma

The panel examined drivers influencing cross-border transactions, emphasizing how geopolitical dynamics between major markets shape deal flow and regulatory alignment. Discussion highlighted the rise of science-led partnerships, where best-in-class research platforms determine alliance value and speed to clinic. Experts underscored that aligning on scientific leadership—rather than solely on financial terms—builds more resilient collaborations. 

Panel 2: The Rise of Mega Rounds in Biotech Investment 

Moderator:  

• Linda Zhao, Managing Director, MSQ Ventures 

Panelist: 

• Chong Xu, Partner, F-Prime Capital 

• Lou Kassa, Founder and Advisor, Hatch Biofund 

• Joan Shen, Founder & CEO, NeuShen Therapeutics  

• Pengpeng Li, Vice President, Lilly Asia Venture 

• Naveen Krishnan, SVP & Managing Director, Mirae Asset Capital Life Science 

• Caroline Lu is a Principal at UHY LLP 

This discussion explored why securing mega-round financing has become increasingly difficult amid macroeconomic uncertainty and valuation pressures. Panelists analyzed the key drivers of investor hesitation, including unpredictable policy shifts and the elongated path to profitability in novel modalities. They concluded that robust due diligence and adaptable financing structures are essential to navigate this “hard environment” and maintain momentum in late-stage biotech. 

Panel 3: Defining AI Breakthroughs and Business Models in Drug Development 

Moderator

• Jim Self, Managing Director, ProBioPharm

Panelist:

• Alan Jiang, Chief Strategy Officer, XtalPi

• Rui (Sammi) Tang, SVP, Global Head of Quantitative Sciences & Evidence Generation, Astellas Pharma

• Zhiyong (Sean) Xie, VP, Head of AI & Data Science, Xellar Biosystems

• Ming Tommy Tang, Director of Bioinformatics, AstraZeneca

• Ma (Gary) Dong, Partner & SVP, Taimei Technology 

Panelists began by framing what constitutes an AI “breakthrough” in drug discovery, distinguishing between incremental algorithm improvements and transformative platform advances. They reviewed examples where predictive modeling accelerated target identification, underscoring that integration with wet-lab validation is critical for impact. The debate then addressed whether AI itself represents a standalone business model or a tool within existing R&D frameworks, with consensus leaning toward hybrid approaches that blend tech capabilities with traditional pharma expertise. 

Panel 4: Global Drug Development Collaboration Case Studies 

Moderator  

• Wendy Pan, Partner, Goodwin 

Panelist  

• Shanshan Xu, CEO & Founder, Bambusa Therapeutics  

• Jimmy Zhang, Executive Mentor, QB3 Bakar Labs / SVP BD, Frontier Biotech  

• Alvin Luk, CEO & Founder, HuidaGene  

• Yao Zhang, Executive Director, Oncology Tech Strategy, GSK  

• ChenBing Wu, CEO, EpimAb Biotherapeutics

Through case studies, the panelists compared strategies for forming NewCos versus licensing or acquisitions, noting that each path demands distinct governance and milestone structures. They discussed emerging modalities—from cell therapies to RNA platforms—and how big pharma’s view on these assets differs from biotech innovator perspectives. Additional focus areas included the evolving timeline of business development cycles, best practices for linking BD and investment alliances, corporate strategic alignment, and hybrid licensing-acquisition frameworks that optimize value capture across project life cycles. 

We extend our sincere thanks to our forum co-hosts—Harvard Chinese Students and Scholars Association (CSSA HMS), The BayHelix Group, American Healthcare Executive Association (AHEA)—for their partnership in making this event possible. We are also grateful to our supporting organizations, including UHY-US, IntelliPro and BioCentury Inc, for their continued collaboration. Most importantly, thank you to all our speakers and attendees for contributing to a day of thoughtful conversation and industry insight. We look forward to continuing the dialogue at future gatherings.