Currently, business development (BD) has become one of the new financing strategies for biotech companies. With the license-out market heating up, many pharmaceutical firms are eager to embark on their global expansion journeys through BD. For newly appointed biotech CEOs, how can they mitigate risks and avoid common pitfalls in cross-border transactions? What key tips from BD deals are worth learning and adopting?
August 31 (Thursday) 20:00, Artery New Medicine invited Zheng Fan, Managing Partner of YAFO Capital, to deliver a special presentation from the perspectives of situational analysis and practical experience, under the theme “What Biotech CEOs Need to Know: The Landscape of License-out Deals and Tips to Avoid Common Pitfalls.”
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Guest Introduction
Zheng Fan
YAFO CapitalManaging Partner

Mr. Zheng Fan has led and participated in over 50 overseas financing and technology licensing transactions; he spearheaded and completed multiple cross-border deals, including those with KiOmed, ImmuneOncia, Flexion Therapeutics, Synergy Pharma, and Valcare.
He previously served as a Senior Research Analyst covering the innovative drugs and medical devices sectors at Roth Capital Partners, a U.S. investment bank. As a lead angel investor, he invested in a Chinese company specializing in neurointerventional technologies, which has since completed its Series B financing round.
Mr. Zheng Fan’s educational background includes a Master of Science in Finance from Vanderbilt University and a Bachelor’s degree from the University of International Business and Economics in Beijing.
Company Profile
AboutYAFOCapital
YAFO Capital, established in 2013, is a novel investment and investment banking advisory firm dedicated to providing investment, financing services, product in-licensing, and asset incubation for biopharmaceutical projects in China and overseas. Its affiliated YAFO Fund collaborates with pharmaceutical companies on asset investment and mergers and acquisitions (M&A), while YAFO Global Healthcare focuses on cross-border and domestic licensing transactions of pharmaceutical products. Leveraging YAFO’s extensive global network of connections and resources, the firm has successfully facilitated the entry of numerous overseas projects into the Chinese market and assisted multiple Chinese products in securing overseas licensing deals over the past decade. YAFO boasts an experienced global transaction team covering major pharmaceutical innovation hubs worldwide, including the United States, Japan, and Europe. Its core partners are seasoned Wall Street investment bankers or executives with multinational pharmaceutical company experience, providing robust support for client transactions. Headquartered in Shanghai, YAFO maintains offices in London, Los Angeles, Tokyo, Milan, and Cambridge. YAFO has ranked first in the number of cross-border licensing and M&A transactions in the biopharmaceutical sector for three consecutive years.
Organizer Introduction
About VBInsight
VB Pharma is a media and research platform under VCBeat, focusing on the biopharmaceutical sector. It delivers “in-depth” and “incremental” communication value to innovators and entrepreneurs through two dimensions: content and operations. In terms of content, it features exclusive financing announcements, corporate interviews, the “Drug Developers” column, in-depth industry analyses, and sector reports. On the operations front, its branded series “VB Think Tank” focuses on practical challenges, discusses industry trends, and fosters tangible collaborations through the exchange of ideas.
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About VBInsight Exchange
VB Think Tank is one of VCBeat’s flagship events, serving as a face-to-face platform centered on exploring solutions in the pharmaceutical and healthcare sectors, with the mission to “focus on practical challenges and discuss industry trends.” The event conducts in-depth discussions, analyses, and exchanges on the current development status of core themes, addressing associated difficulties, pain points, and obstacles. Meanwhile, it gains a thorough understanding of companies’ resource endowments, fostering tangible collaborations through intellectual exchange. “Each session features one theme, one platform, and one ecosystem.”
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