Chinese Innovative Drugs Become Global Favorites as MNCs Rush to Forge Partnerships

Jul 02, 2026 19:16 CST Updated 19:16

CSPC

Innovative Drug Research and Development, Manufacturer

AstraZeneca

Pharmaceutical Technology Research and Development Provider

Junshi Biosciences

Innovative Drug Developer

Innovent

High-end Biologics Developer

7Month2On [date], CSPC announced that it had entered into a collaboration, option, and license agreement with AstraZeneca to establish a strategic R&D partnership and leverage CSPC’s proprietarysiRNADeveloping novel small nucleic acid drug candidates through the drug discovery platform and extrahepatic targeted delivery platform. The total value of this collaboration amounts to up to17.7USD 100 million.

This is not an isolated case,7Month1On the evening of the day, Junshi Biosciences announced that,6Month30On [date], the Company entered into a License Agreement with Jiangsu Wanbang Biopharmaceuticals, a wholly-owned subsidiary of Fosun Pharma, granting it the rights to develop, register, manufacture, and commercialize Rokocibart in the Greater China region.JS005, anti-IL-17Amonoclonal antibody).

Under the agreement, Junshi Biosciences will receive2.15RMB 100 million non-creditable and non-refundable down payment, and eligible for up to11.25hundred million yuan in development and sales milestone payments, as well as tiered sales royalties at double-digit percentages of net sales in the Greater China region.

Furthermore, in recent days,Metagenomi Announces Partnership with Global Top-Tier Health Investment PlatformDeerfield ManagementU.S. Biotechnology Companies Supported for EstablishmentBoulevard BioSigning of Global Exclusive License Agreement, Upfront Payment2000in tens of thousands of US dollars, with milestone payments reaching up to16100 million USD. GiftComealsoReached the eighth in-depth cooperation with Innovent on the commercialization rights of abemaciclib tablets in mainland China.

From the domestic licensing of traditional antibody drugs toAIfrom overseas licensing of novel drugs driven by innovation to commercial synergy for mature products,MultipleA Wave of Major Deals Lands Intensively for Chinese Innovative DrugsBDCooperation Continues to Heat Up, Writing a Vivid Footnote.

# Multi-Pronged Approach

This licensing deal between Junshi Biosciences and Jiangsu Wanbang Biopharmaceuticals represents a deep collaboration in the autoimmune field between a leading domestic innovative pharmaceutical company and a large pharmaceutical group. Runcacibart is a specific anti-IL-17AMonoclonal Antibodies for Moderate-to-Severe Plaque PsoriasisPhase IIIThe clinical data for registration is favorable.2025Year12The new drug marketing application for this month has been accepted by the National Medical Products Administration.

AndJiangsu Wanbang Biopharmaceuticals has established a presence in the autoimmune disease sector.CookedCommercialization Team andGoodmarket system, this collaboration will accelerate the R&D filing, production launch, and market commercialization of rocatinlimab in the Greater China region.

Industry insiders have pointed out that,2.15The down payment of hundreds of millions of yuan is at a relatively high level in current domestic licensing transactions, indicating that the market hasJS005of its clinical value and commercialization prospects, Junshi Biosciences chose toNDAPhase-introduced partners, also“R&D+"Commercialization"Rational Choice of Division of Labor and Collaboration.

Two Other Transactions Also Worthy of Attention。Metagenomi Tech Announces Partnership with Global Top-Tier Health Investment PlatformDeerfield ManagementAchieved the first significant milestone of the strategic alliance, withDeerfieldU.S. Biotechnology Companies Supported for EstablishmentBoulevard BioSigned a global exclusive licensing agreement, granting its independently developed trispecificTCE（TCellular junctions)MTS-128Global development, manufacturing, and commercialization rights for the project. Metagenomi will obtain2000$10,000 down payment, and eligible for up to16billion in milestone payments. According to publicly disclosed information, this transaction sets a record for Chinese pharmaceutical companies in the preclinical stageTCENew Record for Single Overseas Licensing Transaction Amount, Also China’sAIA Significant Milestone in the Internationalization of Innovative Drug Delivery.

On the same day, Eli Lilly and Company and Innovent jointly announced that the two parties hadCDK4&6Inhibitor Verzenio®(Abeciclib Tablets) have reached a commercialization cooperation agreement for rights in mainland China. Under the agreement, Innovent will be responsible for the importation, sales, promotion, and distribution of the product in mainland China; Eli Lilly andThe company willContinue to serve as the Marketing Authorization Holder, responsible for manufacturing, supply, and continuous development.

It is worth noting that,This collaboration marks the parties' since2015since the establishment of the partnership inThe Eighth Deep Collaboration. Abemaciclib is one of Eli Lilly's core global growth products., according to Eli Lilly's financial report,2025Annual Global SalesBreakthrough57hundred million USD. Data from Menet shows that,In the domestic market, this product2025Annual Market Size Has Exceeded11hundred million yuan. This collaboration builds upon the previously reached agreement between the two parties88hundred million USD early-stage target global licensing forms complementarity,CommonEstablished“Overseas Pipeline Licensing-In”+a two-way cooperation pattern featuring the commercialization and market launch of mature domestic products.

Entering the “New Normal” Phase

Looking back at the recent past6Month, Chinese Pharmaceutical CompaniesBDCooperationContinuously Active。6Month1On [date], Haisco announced the signing of a “License and R&D Collaboration Agreement” with Eli Lilly, under which the two parties will engage in strategic cooperation on innovative drug development across multiple disease areas. Pursuant to the agreement, Haisco will receive up to8700down payment of tens of thousands of US dollars and recent payments, up to29.67billion in subsequent milestone payments.

On the same day, Everest Medicines announced that it wouldTravere TherapeuticsReaching an Exclusive License and Collaboration Agreement, GrantingEVER001Everest Medicines will obtain the exclusive rights to develop and commercialize (Hibrutinib) in regions outside of Greater China and certain Southeast Asian countries.1.125$100 million upfront payment, and is eligible for up to10.3billion-dollar milestone payment.

6Month22On [date], Antengene announced a partnership withK2 TherapeuticsTwo cooperation agreements were reached, regardingATG-106(An investigational drug targeting solid tumorsCDH6×CD3BispecificTCell Connector) grants exclusive global development and commercialization rights (excluding Greater China). Antengene will receive approximately2000down payment and recent payments in tens of thousands of US dollars, and is eligible for up to9.605in milestone payments. Furthermore,K2Also obtained an option to acquire another undisclosed bispecific antibody from AntengeneTCEGlobal Exclusive License for the Candidate Drug.

6Month24Recently, Abbisko Therapeutics announced the signing of a strategic R&D collaboration and licensing agreement with Eli Lilly. The two parties will collaborate on the development of innovative drugs targeting multiple disease targets. Abbisko Therapeutics will receive an upfront payment and will be eligible for up to19$100 million milestone payment.

It is worth noting that public information shows,6Month22Days24In just three short days, multiple Chinese innovative pharmaceutical companies, including Allist Pharmaceuticals, Haisco Pharmaceutical, Insilico Medicine, and Antengene, have intensively secured overseas licensing deals or strategic R&D collaborations, with the total potential transaction value approaching90hundred million U.S. dollars.

More worthwhileMentionedYes, the cooperation model has undergone diversified upgrades.。Expansion of licensed products from single projects to multi-project bundles，The collaboration model has expanded from unilateral overseas rights licensing to joint development and co-commercialization (Co-Co），Some collaborations have even achieved“Dual Licensing,” such as Hengrui Medicine andBMSIn the collaboration, Hengrui is toBMSAuthorization also grantsBMSThe rights to the four projects in mainland China, Hong Kong, and Macao have established a deeply integrated strategic collaboration.

Kaiyuan Securities pointed out in a recent research report，Domestic Innovative DrugsLicense-outTrading remains active, international cooperation among China’s innovative drug enterprises continues to deepen, and their capabilities in product globalization and commercialization are further enhanced. A research report by Guosheng Securities also believes that the global recognition of Chinese innovative drug assets is steadily increasing, with overseas expansion transitioning fromSingleProduct portfolio expanding across multiple technology platforms and therapeutic areas.

WhenBDFrom a one-off message gradually evolving into a revenue stream, as hundred-billion-dollar deals transition fromIncidentalBecoming the norm, Chinese innovative pharmaceutical companies are accelerating their global expansion. From antibodies and bispecific antibodies,ADCtoAIFrom pharmaceuticals and small nucleic acids to cell therapy, spanning oncology, autoimmune diseases, metabolism, and rare diseases, Chinese innovative pharmaceutical companies are deeply integrating into the global landscape of innovative drug R&D and commercialization through diversified technological pathways and collaborative models.ButBDUpfront and milestone payments in transactions are often subject to stringent conditions, with full realization contingent upon actual progress in subsequent R&D and commercialization; the industry should view these risks rationally.