Embracing Change and Returning to Essentials: Insights from the CGT Innovation and New Opportunities Forum at 2025 VBEF

The “2025 VBEF Top 100 Future Healthcare and Pharma Exhibition,” hosted by VCBeat, grandly opened at the Suzhou International Expo Center on May 9–10.

As one of the core forums of the exhibition,“CGT Venture Capital & BD New Opportunities Forum and 2025 CSGCT Conference Launch Press Conference” was held on May 10, exploring dimensions such as innovative breakthroughs in the CGT field, capital empowerment, supply chain awakening, and global expansion pathways., sharing practical experience and exploring industry pain points, bringing cutting-edge insights and innovative ideas to the development of the industry.

This event is organized byHosted by VCBeat and CSGCT, special thanks toYoulin Medicine, Boya Life, Xingcheng Biology, Yeasen Biotechnologysupport.

Conference Site Photos

At the outset of the conference,Professor Wu Zhenhua, Chairman of CSGCT; Professor Mark Kay, Founding Member and Former Chairman of ASGCT; Mr. Qi Fei, Executive Director at Legend Capital; and Mr. Li Datao, Founder of VCBeatThe launch ceremony of the 2025 China Society for Gene and Cell Therapy (CSGCT) Conference was held in the presence of attendees, where the original intentions behind organizing the conference were introduced along with expectations for its success. Li Datao emphasized the deep empowerment provided by investors in the field of cell and gene therapy. Dr. Wu Zhenhua introduced that CSGCT aims to benchmark against the American Society of Gene and Cell Therapy (ASGCT) to promote the development of China’s CGT industry. As a founding member of ASGCT, Professor Mark Kay shared the latest research advances in gene therapy via remote video link and expressed his anticipation for the 2025 CSGCT China Cell and Gene Therapy Conference to be held in Beijing on September 12–13.

Qi Fei, Executive Director at Legend Capital, delivered a keynote speech titled “Progress in the CGT Industry and Investment & Financing.”A detailed analysis of the cyclical fluctuations in the cell and gene therapy (CGT) industry points out that, despite the current downturn in capital investment, China’s R&D progress in the CGT field has been rapid, transitioning from a phase of following to one of surpassing, and even leading. Commercialization represents the greatest challenge facing the cell and gene therapy industry at this stage. However, judging by the progress in pipelines and clinical trials, China’s CGT industry is poised for takeoff, with a significant number of innovative products expected to break through and reach the market in the coming years.

On-site Sharing by Qi Fei, Executive Director of Legend Capital

Zhu Jielun, Partner at Niukou Capital, Shares Insights on “Three Arrows for Chinese Innovative Drugs Going Global: BD, NewCo, and RTO”He discussed strategies for the global expansion of innovative drugs from the perspectives of capital and transactions, proposing approaches such as license-out, NewCo formation, and RTO to enter international markets. He emphasized the growing global recognition of Chinese innovative drugs, particularly evidenced by significant increases in both the number of clinical pipeline assets and the value of business development (BD) deals.

On-Site Sharing by Zhu Jielun, Partner at Niukou Capital

Dr. Han Haixiong, Chief Medical Officer at Youlin Medicine, elaborated on “Core Elements in the Design and Execution of Clinical Trials for Novel CGT Drugs.”, focusing on the challenges of CGT clinical trials, highlighting the conflict between personalized therapy and existing evaluation systems, as well as issues concerning long-term safety and commercialization pathways. He recommended combining real-world evidence studies with policy innovation to promote clinical translation.

 On-site Sharing by Han Haixiong, Chief Medical Officer of Youlin Medicine

Wei Qing, Senior Researcher at Boya Stem Cell Technology Co., Ltd., conducted an in-depth discussion on the topic of “Quality Control and Clinical Application of Cell-Derived Exosomes.”Using Parkinson’s disease as a representative case, he systematically elucidated the key mechanisms by which extracellular exosomes contribute to neural repair: exosomes improve clinical symptoms in Parkinson’s patients and help them gradually recover some lost neurological functions by activating neuronal repair while simultaneously enhancing the integrity and stability of the blood-brain barrier.

Wei Qing, Senior Researcher at Boya Stem Cell Technology Co., Ltd., Shares Insights On-Site

Liu Chen, Managing Director of Locust Walk, delivered a presentation titled “Reflections for Chinese Biotech Companies on the Shifts in Global Investor Sentiment, Trading Landscape, and Macroeconomic Factors in 2025.”, and focused on sharing the fundamental logic behind international transactions of innovative drug assets, emphasizing that counterparties’ core concerns lie in the pivotal data of drugs under development rather than the scientific stature of the founders, thereby providing valuable strategic support for companies’ internationalization journeys.

On-site Sharing by Liu Chen, Managing Director of Locust Walk

Dr. Xie Xuanhui, Chief Innovation and Investment Officer at RenovoBio, shared insights on “Crossing the Valley of Death in Original CGT Innovation Through Open Innovation,” using in vivo CAR-T therapy as an example.He summarized the three major models for incubating CGT innovations, presented the current state of translating pharmaceutical R&D achievements into commercial applications, and, using in vivo CAR-T technology currently under incubation as an example, shared how his own incubation experience combined with IASO Bio’s full-industry-chain expertise and resources can help early-stage CGT innovation projects cross the “valley of death” and achieve successful technology translation.

On-site Presentation by Xie Xuanhui, Chief Innovation and Investment Officer of Reindeer Bio

During the roundtable discussion, multiple experts deliberated on topics such as the challenges and opportunities in the cell and gene therapy (CGT) industry, technological innovation, supply chain stability, and the policy environment. They generally agreed that the industry must uphold scientific innovation, adapt to policy changes and market fluctuations, and enhance competitiveness through international cooperation.

Panel 1 of this event featured“What Are the Needs of CGT Pharmaceutical Companies from a Whole-Industry-Chain Perspective?”as the theme,Liu Xiao, Vice President of Business and Marketing at Xingcheng BiotechModerator,Tan Guosheng, General Manager of the Biopharmaceutical Division at Yeasen Biotechnology; Zhu Fangfang, Founder of Xueji Biotechnology; and Zhao Piming, Founder of Daoji GeneThe three panelists shared their perspectives and insights. Tan Guosheng argued that stability should be the top priority, with a strong focus on maintaining control over core products; only on this basis should companies pursue “cost savings” and “speed,” aiming to reduce costs, improve efficiency, and accelerate time-to-market. Zhu Fangfang stated that in today’s ever-changing environment, “stability,” “speed,” and “cost savings” constitute a dynamically balanced triad that requires comprehensive consideration. Regarding innovation, Zhao Piming remarked that scientific innovation should be left to scientists, while enterprises should focus on incremental technological innovations, continuously iterating within their respective domains.

Panel 1: What Are the Needs of CGT Pharmaceutical Companies from a Whole-Industry-Chain Perspective?

Panel 2 of the event featured“Under the new landscape, what kind of innovation adds value for CGT companies?”"as the theme,"Liu XiaoServing as the moderator,Shen Hao, Global President of Baiji Biotech; Zhang Xin, Chief Operating Officer and Chief Medical Officer of Huida Genomics; Wang Yongzhong, Founder, Chairman, and Chief Executive Officer of Ruizheng Gene; Chen Gong, Founder of Shenxi BiologicsShare Insightful Perspectives. Zhang Xin stated that innovation must be purposeful, aiming to meet the needs of specific patient populations rather than being pursued for its own sake. Wang Yongzhong believed that innovation involves using new methods to solve old problems in any field, representing an iterative process. Chen Gong illustrated the challenges inherent in the innovation process through practical cases, emphasizing the need to establish a solid foundation in intellectual property (IP) and chemistry, manufacturing, and controls (CMC). Shen Hao argued that there is a need to define and reflect on what constitutes innovation, concluding that its ultimate goal is to satisfy clinical needs.

Panel 2: In the New Landscape, What Types of Innovation Add Value for CGT Companies?

The theme of Panel 3 at this event is“How Investors Can Help Portfolio Companies Enhance Their Services”，Moderated by Mao Jie, Vice President of Zhoudu Capital; Dr. Xie Xuanhui, Chief Innovation and Investment Officer of Gracell Biotechnologies; Niu Jing, Senior Investment Director of GenScript Biotech; and Zhu Beili, Director of Proxima Venture PartnersEach participant shared their insightful perspectives on this topic. Niu Jing argued that the true value of an investment firm is reflected in the long-term relationships it builds with portfolio companies, thereby fostering a virtuous cycle in investment. Xie Xuanhui cited practical cases to advocate for a “begin-with-the-end-in-mind” approach, assisting companies with better project initiation at the target selection stage and engaging early in their commercialization exploration. Zhu Beili stated that Proxima Ventures empowers portfolio companies across strategic planning, financing, and partnerships, while facilitating greater connections for their international expansion, business development (BD), and financial advisory (FA) efforts.

Panel 3: How Investors Can Help Portfolio Companies Enhance Their Services

The Forum on Innovation and New Opportunities in the CGT Industry, held in conjunction with the Launch Ceremony of the 2025 CSGCT Annual Conference, has been successfully concluded. Driven by advancements in technology, capital investment, and supportive policies, China’s CGT industry must proactively embrace change, return to its core values, and address challenges related to commercialization, regulation, and international competition. By fostering continuous innovation, strengthening ecosystem collaboration, and advancing global strategic deployment, the industry is poised to move toward the forefront of the field.

Notably, the 2025 China Society for Gene and Cell Therapy (CSGCT) Conference will be held in Beijing from September 12 to 13. Colleagues in the CGT industry are welcome to participate!