Breaking Through the Bottlenecks: 2025 China Biotech Overseas Financing Practical Training Successfully Concluded

In 2024, numerous Chinese biotech companies successfully expanded their products into overseas markets by leveraging the NewCo model, which has rapidly gained prominence in China’s innovative drug sector. However, despite the sustained momentum of the NewCo model, biotech firms continue to face significant challenges in securing overseas financing. For instance, some companies have experienced delays in their fundraising efforts due to a lack of familiarity with foreign legal and intellectual property regulations, while others have struggled to attract international capital because their pipeline designs are misaligned with international clinical standards.

In this context, on March 27, byEgg Yolk Technology (VCBeat), Button Capital, Haixinyu Urban Renewal GroupandStarfish TechnologyCo-organized by,AllBright Law Offices, Bisheng Law Firm, China Merchants Bank Shanghai Branch, PwCSupport for the held “2025 Practical Training on Overseas Financing for Chinese Biotech Companies”Successfully held in Zone C of the Haixing Pharmaceutical and Health Innovation Park in Haidian District, Beijing, this training program aimed to help biotech companies establish a faster and more stable foothold overseas through the sharing of practical experience and case studies, thereby achieving the internationalization of their products and technologies.

Wu Xuetao, Partner at VCBeatHe delivered the opening remarks for the event. He discussed the original intention and planning process behind the “2025 Practical Training on Overseas Financing for Chinese Biotech Companies.” He noted that the capital market is showing signs of recovery, and expressed hope that this training would provide practical guidance to industry practitioners and foster collaboration through exchange.

Wu Xuetao, Partner at VCBeat

Zhu Jielun, Partner at Button CapitalDelivered a presentation titled “NewCo – Seizing the Next Phenomenal ‘Windfall’ in China’s Innovative Drug Sector.” Drawing on successful domestic and international case studies of collaborations under the NewCo model, he provided a comprehensive commercial analysis of the NewCo phenomenon in China’s innovative drug landscape and conducted an in-depth exploration of the advantages, risks, and future development trends of the NewCo model.

Zhu Jielun, Partner at Button Capital

Yuan Chengfei, Partner, Tax and Business Advisory Services, PwC ChinaandLuwen Hu, U.S. Tax Partner at PwC ChinaThey jointly delivered a presentation titled “Cross-Border Transactions in China’s Pharmaceutical Industry: Tax Opportunities and Challenges.” Yuan Chengfei provided a detailed analysis of the industry’s tax landscape, covering the current state of taxation in China and key considerations for global expansion, such as the selection of contracting entities and value-added tax (VAT) compliance. He emphasized the critical role of taxation in transactions and highlighted industry trends and collaboration opportunities. Hu Luwen offered an insightful analysis of how Chinese and U.S. tax regimes impact collaborations between Chinese companies and U.S. pharmaceutical firms, along with corresponding response strategies.

Yuan Chengfei, Partner in Tax and Business Advisory Services at PwC China

Luwen Hu, U.S. Tax Partner at PwC China

Liu Tingting, Partner at AllBright Law Offices (Shanghai)Delivered a keynote presentation titled “How Chinese Biotech Companies Can Properly Mitigate Legal Risks in Cross-Border Business Development and Overseas Financing Transactions.” Attorney Liu provided a detailed analysis of issues and underlying causes related to cross-border transactions by Chinese enterprises, examining four key aspects: common structures of overseas financing transactions for Chinese biotech firms; differences and critical considerations in financing agreements between China and the United States; legal risks associated with overseas financing transactions for Chinese biotech companies; and practical case studies illustrating how to properly avoid legal risks in international transactions.

Liu Tingting, Partner at AllBright Law Offices (Shanghai)

Wang Weibin, Managing Partner at Shanghai Bixing Law FirmHe delivered a presentation on the theme “How Chinese Biotech Companies Can Address Intellectual Property Issues in Cross-Border Transactions.” He provided an insightful analysis of patent exclusivity, territoriality, and related issues from four perspectives: the characteristics of the biopharmaceutical sector; patent features and value assessment in biopharma; intellectual property issues and risk mitigation strategies related to licensing agreements; and IP risks and avoidance strategies in license negotiations and contractual provisions.

Wang Weibin, Managing Partner of Shanghai Bixing Law Firm

Song Zijian, Senior Product Manager, Cross-border Finance Department, China Merchants Bank Shanghai Branchpresented a talk titled “Global Operations of Enterprises in the Medical and Elderly Care Industry”“Sharing Service Experience” presentation. He provided a detailed explanation from three perspectives: the global landscape of the healthcare and elderly care industry, globalization service solutions for Chinese-funded enterprises, and case studies of leading industry clients. The discussion covered the current state of globalization for companies in the healthcare and elderly care sectors, overseas expansion models, key pain points and demands, and corresponding banking solutions, including the establishment of offshore structures and Outbound Direct Investment (ODI) registration.

Song Zijian, Senior Product Manager, Cross-Border Finance Department, China Merchants Bank Shanghai Branch

Zhu Yonghong, CMO of BiocytogenDelivered a knowledge-sharing session titled “Practical Insights from NewCo Operators.” Drawing on the successful NewCo case achieved by BioMap, he shared key takeaways on business development (BD) success, product promotion, collaboration and mindset, as well as experience and competitive advantages in the biopharmaceutical sector.

Zhu Yonghong, CMO of AimAbio

Hong Jiayang, Head of Clinical Development at Miltenyi Biotec (China)He delivered a presentation titled “Clinical Strategies for Chinese Biotech Companies Expanding Globally.” Focusing on three key areas—the urgency and strategic value of internationalization, the data attributes valued by overseas investors, and clinical development strategies for Chinese companies going global—he provided an insightful analysis of the challenges and strategies facing Chinese enterprises in overseas pharmaceutical clinical development.

Miltenyi Biotec (China) Clinical DevelopmentProject Lead: Hong Jiayang

Li Siyu, Director of Business Development at Bayer HealthcareShe delivered an insightful presentation on the topic of “Criteria and Strategic Directions for MNC Project Selection.” She analyzed the current landscape and significance of Chinese biopharmaceutical companies expanding into global markets, introduced Bayer’s strategic layout and business development in innovative drugs, and shared insights on collaboration and business development (BD) transaction processes in specific therapeutic areas, as well as practical experiences in conducting BD projects with multinational corporations (MNCs).

Li Siyu, Director of Business Development at Bayer HealthCare

Li Rui, Partner at Button CapitalDelivered a presentation titled “Core Elements in Building a NewCo.” He provided a comprehensive and detailed analysis of the logical framework and end-to-end practical implementation of the NewCo model, focusing on four core elements: assets, business model, team, and capital.

Li Rui, Partner at Button Capital

With this, the “2025 Practical Training on Overseas Financing for Chinese Biotech Companies (Session 1)” has come to a successful conclusion! The event brought together numerous investors and representatives from domestic pharmaceutical companies to engage in in-depth discussions and exchanges on the challenges and opportunities encountered by Biotech firms in their overseas financing endeavors.

The second session has been confirmed to be held at the Suzhou International Expo Center on May 9–10. The conference will continue to inviteNewCo model operator, partner at a top-tier U.S. dollar fund, cross-border legal expert, executive of a successfully funded enterprise, and head of business development at a multinational corporation (MNC),FocusNewCoModeScreening、Address cognitive gaps and mitigate legal risks,PipelineBDFinancingExperience、Optimized Pipeline DesignWaitFor details, interested enterprises and industry peers are welcome to scan the QR code below to register, or add the conference assistant on WeChat to inquire about event details and content.

Scan the QR code above to register