Chinese Pharma Companies Enter a New Era of In-Licensing Partnerships Focused on Clinical Value and Commercialization Efficiency

　　【Pharmaceutical Network Market AnalysisIn recent years, China's innovative pharmaceutical companies have gradually gained global recognition for their self-research and development capabilities and asset quality. While the number of outbound licenses ("going overseas") continues to increase, strategic changes in the area of technology introduction are also emerging. For example, the model is shifting from "one-way purchasing" to "win-win cooperation," with an increasing focus on earlier-stage projects with breakthrough potential. At the same time, there is a pursuit of diversification, actively expanding into emerging markets, among other strategies.
 

Recently, Yifan Pharmaceutical announced that its subsidiary, Yifan Pharmaceuticals, signed the "Exclusive Commercial Cooperation Agreement" and the "Cornerstone Investment Agreement" with Tianjin Shangde Pharmatech to introduce ACT001, a next-generation immunomodulator intended for treating brain metastases in small cell lung cancer. The company has obtained exclusive development, production, and commercialization rights for this drug in mainland China, Hong Kong, Macao, Taiwan, South Korea, Southeast Asia, and 13 other countries and regions.
 

The announcement shows that ACT001 is a novel brain tumor candidate drug with a completely new mechanism. Currently, the drug has been involved in more than 10 exploratory Phase I-II clinical trials for various indications globally. It has also obtained several important overseas qualifications, including the U.S. Fast Track designation, Orphan Drug designation, Pediatric Orphan Drug designation, and U.S. Pediatric Rare Disease designation. Additionally, it has been included in the "Breakthrough Therapy Designation" list by the CDE. As of December 31, 2025, the Phase III clinical trial of ACT001 for small cell lung cancer brain metastases has been initiated across 44 clinical trial centers.
 

On December 29, 2025, AOSAIKANG PHARM announced a strategic cooperation with Adlai Nortye Biopharma Co., Ltd., securing the exclusive rights in China for the latter's preclinical pan-RAS inhibitor AN9025 at a total price exceeding 1.6 billion RMB (35 million RMB upfront payment + up to 1.598 billion RMB in milestone payments).
 

The announcement shows that the AN9025 project, a novel oral pan-RAS inhibitor developed by Adlai Nortye Biopharma Co., Ltd., can be used to treat RAS-mutant solid tumors. It has completed Investigational New Drug (IND) applications in China and the United States and has received clinical trial approval from the U.S. Food and Drug Administration (FDA). Its main highlight lies in the mechanism of action targeting the "undruggable" RAS target.
 

On December 24, 2025, Tasly announced the introduction of STRO-002, an ADC targeting FRα, from U.S.-based Sutro company. According to the announcement, STRO-002 is a third-generation ADC developed by Sutro with global intellectual property rights, which is expected to address issues related to pharmaceutical quality and pharmacology caused by traditional non-site-specific conjugation of ADCs.
 

Currently, STRO-002 has entered Phase I clinical trials in the United States for recurrent ovarian cancer and endometrial cancer. The clinical data shows promising preliminary efficacy with good safety and tolerability. Based on this, Sutro plans to communicate with the U.S. FDA to apply for accelerated approval through a single-arm Phase II study as the registration trial.
 

In November 2025, Qilu Pharmaceutical announced the acquisition of the China rights to LAE002 (Afuresertib), an AKT inhibitor from Laekang Pharmaceutical, for approximately 2.045 billion yuan. LAE002 is a potent AKT inhibitor that can inhibit all three AKT subtypes and is one of only two AKT inhibitors globally in late-stage clinical development targeting breast cancer and prostate cancer.
 

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From the overall perspective of cooperation dynamics introduced by Chinese pharmaceutical companies, China's pharmaceutical industry has entered a new phase of "innovation-driven + global integration" in recent years. For many years, the introductions by Chinese pharmaceutical enterprises have mainly focused on products that have entered the late-stage clinical trials or have already been marketed overseas. Nowadays, innovative assets at the global early clinical stage and with novel mechanisms of action, such as P-CAB, cardiac myosin inhibition, siRNA, and novel analgesics, are gradually becoming the focus of Chinese pharmaceutical companies’ efforts to introduce.
 

The industry believes that this indicates the improving research and development judgment and risk tolerance of Chinese pharmaceutical companies. At the same time, China's local biotechnology companies are already able to produce early-stage innovative achievements with global competitiveness. In the future, the introduction of drugs by Chinese pharmaceutical enterprises is expected to focus more on "clinical value + commercialization efficiency," gradually upgrading towards the layout of global rights. This will promote China to become an important source and market for global innovative drugs, allowing Chinese patients to access cutting-edge therapeutic drugs in synchronization with the rest of the world at an earlier date.
 

　　Disclaimer: Under no circumstances shall the information or opinions expressed in this article constitute investment advice to any person.