The Global Biopharma Cross-border Summit 2023: Boston, co-hosted by Jones Day and MSQ Ventures, took place on June 5th, 2023, at Jones Day Boston with supporting organizations, including BioCentury Inc., The BayHelix Group, and BioAroundWorld. The event brought together key industry professionals and investors to discuss the advancements and challenges in cross-border collaborations for global drug development.

PANEL DISCUSSION 1: CROSS-BORDER COLLABORATIONS ADVANCING GLOBAL DRUG DEVELOPMENT

Moderator: Tony Chen – Partner at Jones Day     
Panelists:    
Nikhil Mutyal – Exec. Dir., BD & Licensing at Merck  

Jue “Judy” Liu – BD Director at Hansoh Bio  
Jianfei "Jeff" Yang – CSO at Phil Rivers  
Jingzhen (Ginger) Ding – Managing Director at MSQ Ventures   
Maureen Bennett – Partner at Jones Day  

Evaluating Technologies and Flexibility in Deal Structures  

Nikhil Mutyal shared insights into the evaluation process of technologies and selecting companies for collaborations. He emphasized the importance of assessing scientific advancements, clinical discoveries, and manufacturing capabilities. Nikhil specifically highlighted the operational efficiency demonstrated by Kelun-Biotech, particularly during the challenging times of the COVID-19 pandemic. He also emphasized the flexibility in deal structures offered by US investor-backed ventures, underscoring the significance of fostering collaboration and adaptability in working relationships.  

Successful Transactions and Emerging Trends  

Jingzhen (Ginger) Ding shared a recent successful transaction involving C4 Therapeutics and Betta Pharma, highlighting the importance of the partnership between a Western biotech company and a Chinese company. She discussed the growing confidence and collaboration between Western and Chinese biotech firms, particularly in the field of protein degradation. Ginger also emphasized the significance of synergy in partnerships, especially when accessing the Chinese market and leveraging resources for successful clinical trials.  

Multi-Regional Clinical Trials and Global Drug Development  

Maureen Bennett shed light on the prevalence and importance of Multi-Regional Clinical Trials (MRC T) in global drug development, with a particular focus on the orphan drug space. She discussed the adoption of unified protocols, early engagement with regulators, and efforts to increase diversity in clinical trials as noteworthy developments. Maureen acknowledged challenges related to disparities in access to comparators and standards of care across jurisdictions but also highlighted the positive trend of greater diversity in clinical trials, promoting a more comprehensive distribution of data.  

Transition From Generics to Innovative Endeavors  

Jue “Judy” Liu discussed Hansoh Pharma's transition from a traditional focus on generics to innovative drug discovery and cross-border licensing. She emphasized the company's shift in business focus towards first-in-class drugs and innovative product developments. Judy shared their experiences in establishing partnerships with domestic and overseas companies and institutes, underscoring the importance of adapting to changing times and driving innovation in medicine.  

Ai-Enabled Drug Development and Unique Expertise In China  

Jianfei "Jeff" Yang delved into the unique aspects of AI-enabled drug development in China and its potential advantages over other regions. He highlighted China's advanced artificial intelligence platforms, extensive data resources, and collaborations with leading hospitals. Jeff emphasized their goal of accelerating the discovery of novel therapeutic approaches and addressing challenges related to patient stratification and precision medicine. He also highlighted using artificial intelligence to precisely stratify patients and identify suitable treatment options, aiming for high success rates with fewer clinical trials.  

In summary, the panel discussion revolved around the evaluation of technologies, flexibility in deal structures, successful transactions, emerging trends, multi-regional clinical trials, transitioning from generics to innovation, and the unique expertise of AI-enabled drug development in China.  

PANEL DISCUSSION 2 - COLLABORATIONS, PARTNERSHIPS AND OPPORTUNITIES IN CNS DRUG DEVELOPMENT  

Moderator: Joan (Huaqiong) Shen – Founder and CEO NueShen Therapeutics   
Panelists:    
Dr. Guangping Gao - Director at UMass Medical School    
Glenn Hassan – CFO at CANbridge Pharmaceuticals Inc.   
MaryJane Rafii – Venture Partner at MSQ Ventures  
Yi Han Dulkeith – Of Counsel at Jones Day  

Advancements and Challenges in Gene Therapy for CNS Disorders   

Dr. Guangping Gao discusses his journey in gene therapy, starting with his fascination for PCs and genetic research centers. He shares his work with different viral vectors like AAV and adenoviruses, emphasizing the advancements in gene delivery platforms. He also mentions the challenges in delivering gene editors to various tissues and highlights the need for optimization. Dr. Gao suggests leveraging AI and collaborating with virologists to develop more efficient vectors.  

CANbridge's Approach to Rare Neuro-Muscular Diseases   

Glenn Hassan provides an overview of his background and explains CANbridge's role in rare diseases. He discusses their collaboration with Dr. Gao and the promising results in neuro-muscular work, particularly in the spinal muscular atrophy (SMA) program. Glenn highlights the importance of gene therapy strategy, collaboration with the Scientific Advisory Board, and their comprehensive plan for manufacturing and CMC considerations.  

Cross-Border Collaborations in CNS and Ophthalmology Therapeutics   

MaryJane Rafii shares her background in ophthalmology, business development, and her role at MSQ as a venture partner. MaryJane talks about her experience in navigating the gene therapy landscape, emphasizing the need for collaboration between academia and industry. MaryJane discusses market needs and the challenges of communication between academicians and industry professionals. She also mentions her focus on assisting companies in fundraising and expansion across borders in CNS and ophthalmology fields.  

Patent Law and Support for Cell and Gene Therapy Innovations   

Yi Han Dulkeith introduces herself as a patent attorney with a background in molecular biology. She highlights her work in patent prosecution and support for pre-IPO diligence, specifically in the field of cell and gene therapy. Yi Han discusses her collaboration on patent portfolios related to Parkinson's disease and emphasizes the importance of communication and collaboration between scientists, biotech experts, and patent attorneys.  

Overall, the panel discussion explores the challenges, opportunities, and potential of collaborations and partnerships in CNS drug development, highlighting the need for optimization, validation, and cross-border cooperation in advancing gene therapies for neurological diseases.  

PANEL DISCUSSION 3 - GLOBAL BIOPHARMA CAPITAL MARKETS & INVESTMENTS: OPPORTUNITIES AND CHALLENGES

Moderator: MaryJane Rafii – Venture Partner at MSQ Ventures  
Panelists:    
Benjamin Chen – Partner at PANACEA VENTURES LLC   
Xiong (Sean) Zhang – Partner at Vivo Capital   
John L. Sullivan, CFA – Venture Partner at Two Bear Capital   
Echo Hindle-Yang - Founder and CEO at MSQ Ventures    
Thomas De Muynck – Partner at Jones Day   

Navigating Capital Availability for Emerging Biotechs Amidst Diverse Trends and Funding Challenges  

Benjamin Chen stressed the significance of portfolio companies having a two-year runway and proper portfolio management. John Sullivan acknowledged the concern about cash flow but reassured that there is sufficient funding available in the private market for early-stage biotech firms. Echo Hindle-Yang shed light on Chinese investments in the US biotech sector, highlighting the growing presence of Chinese founders and teams. Thomas De Muynck addressed the challenges faced by late-stage companies in the closed public markets and expressed optimism about the potential positive impact of stabilizing valuations and easing interest rates.  

Exploring Investment Strategies in Emerging Biotech: Stages of Development, Opportunities, and Average Investment Size  

Benjamin Chen emphasized Panacea Ventures' strategy of investing early and placing a focus on regenerative medicine. Xiong (Sean) Zhang shared Vivo Capital's emphasis on capturing larger trends and investing in cutting-edge technologies, with specific interests in areas such as oncology and gene therapy. John Sullivan provided insights into Two Bear Capital's investment approach, which involves leading Series A rounds and targeting opportunities in oncology and neurodegenerative diseases. MaryJane Rafii offered valuable advice for companies to prioritize their most advanced program and thoroughly evaluate the technology platform they plan to apply.  

Comparative Analysis of IPO Markets: Assessing the Outlook and Access for Capital Markets in China and the US  

Echo Hindle-Yang discussed Chinese companies' preference for NASDAQ listings and Shanghai's fast-growing stock market. John Sullivan mentioned the success of US investors with Chinese companies and expected focus on US firms post-IPO window closure.  

Assessing the Impact of the Reduction Act on US Investments in China  

Xiong (Sean) Zhang highlighted the significant impact of the Intellectual Property Rights Act on the valuation model and opportunities for the biotech industry in China. He discussed the potential shift in drug development strategy towards treating smaller niche populations and the ensuing effects.  

Overall, the panel discussions focused on navigating capital availability, investment strategies, IPO markets in China and the US, and the impact of regulations on biotech investments. The panelists provided insights into funding challenges, investment approaches, and market trends in the biopharma sector.

The panel discussions was followed by six company presentations by Andy Parker – CEO of Step Pharma, Guohuang Fan - CEO of  Immunophage Biotech Co. Ltd., Xiaofeng Li - Head of Strategy & BD at  BioRay Pharmaceutical, Stephen From – CEO of Aruna Bio, Inc., Jerry Shen – Senior Vice-President at Zencore Biologics and Joan (Huaqiong) Shen – Founder and CEO of NeuShen Therapeutics .  

The Global Biopharma Cross-border Summit: Boston Event provided valuable insights into the current state of cross-border collaborations, advancements in drug development, and investment opportunities in the biopharma sector. The discussions highlighted the importance of collaboration, adaptability, and innovation in driving progress and addressing global healthcare challenges. The event fostered meaningful connections and knowledge sharing among industry professionals, paving the way for future collaborations and advancements in the field of biopharma.