Cross-border deals are down and investment has dried up, while geopolitical tensions have started hitting the Chinese biotech sector in unprecedented ways. Biopharma firms are expecting more rainy days ahead and are embracing new fundraising and deal-making approaches to survive and thrive.

A mega deal with Eli Lilly to exclusively market, promote and distribute Emgality (galcanezumab) in China for migraine prevention offers a critical opportunity for C-Bridge backed AffaMed in an untapped, large market, CFO Vijay Karwal told Scrip in an exclusive video interview on the sidelines of EBD's Asia Bio Partnering Forum.

The oncology start-up signed a co-development and commercialization agreement with the French pharmaceutical company for two next-generation EGFR inhibitors.

CSPC Pharmaceutical's SYS6006 has gained an emergency use authorization in China less than one year after entering clinical trials, becoming the first mRNA vaccine for COVID-19 to be approved in the country.