Feb 2022 China’s Cross-Border Deals, Trials & Approvals -
China’s Global Partnerships Continue to Bear Fruit
Western and Asia-Pacific companies have successfully struck a dozen major licensing deals with Chinese companies in the first two months of 2022. Due to the need for R&D and utilization licensing to fill unmet disease treatment gaps, we believe in-licensing is expected to dominate cross-border transactions in the next 3-5 years, as out-licensing from China continues as a secular growth trend as well. China’s leading biopharma is also delivering on successful partnered FDA approvals and global collaborations, namely:
FDA Approves Cancer Therapy by J&J and Legend Biotech1
On February 28th the FDA approved a cancer therapy developed by Johnson & Johnson (NYCE: JNJ; Mkt Cap: $464bn) and its strategic China partner Legend Biotech (NASDAQ: LEGN; Mkt Cap: $5.6bn), namely its chimeric antigen receptor T-cell (CAR-T) therapy, Carvykti to treat multiple myeloma.
Sanofi and Adagene Sign Antibody Development Partnership Agreement2
On March 1st, Sanofi (NASDAQ: SNY; Mkt Cap: $132bn) signed a collaboration with Adagene (NASDAQ: ADAG; Mkt Cap: $203m) to advance two preclinical I/O candidates, and an option to develop two more. The companies aim to link these compounds to Adagene's "masking" technology SAFEbody®, which can selectively target the tumor microenvironment better than current approaches.
Reference:
Company reports, MSQ analytics as of 2/28/2022
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