High-Profile Executive Resigns, CCPHIE Trims Branches, and BrightGene Halts Hong Kong IPO

1. Dissolution of Branch Offices by the China Chamber of Commerce for Import and Export of Medicines and Health Products

On September 28, the China Chamber of Commerce for Import and Export of Medicines and Health Products issued the “Announcement on the Revocation of Eight Branch Offices of the China Chamber of Commerce for Import and Export of Medicines and Health Products.”

The announcement shows that the 8 revoked entities are branches of the China Chamber of Commerce for Import and Export of Medicines and Health Products, includingLaboratory Medicine Branch, Ecological Traditional Chinese Medicine Professional Committee, Import and Export of Chinese Medicinal MaterialsRisk ManagementCommittee, Traditional Chinese Medicine Service Trade Professional Committee, Medical Device International Cooperation Branchetc.

The announcement stated that the reasons for revocation included the completion of authorized tasks and mission objectives by some entities, while others had either ceased activities for an extended period or failed to meet the legal and statutory requirements for compliant continuation as stipulated in their articles of association.

2. Aumolertinib's marketing authorization withdrawn in the European Union

On September 27, Hansoh Pharma announced: On September 25, the Directorate-General for Health and Food Safety of the European Commission issued an implementing decision,Withdrawal of the EU marketing authorization for almonertinib.

Aumolertinib, a third-generation EGFR inhibitor under Hansoh Pharma, was approved in the European Union on February 12 this year.

The announcement pointed out that,The decision to revoke was due to a lawsuit filed by AstraZeneca.It is reported that, according to the decision letter, the key Phase III FLAURA study of Tagrisso was cited in the almonertinib application to extrapolate the safety and efficacy of almonertinib from Asian patients to European patients.

Under the EU’s data protection rules for medicinal products, subsequent applicants are prohibited from relying on the registration dossier of the originator drug to file abbreviated applications within eight years of the originator’s initial marketing authorization. Osimertinib was launched in 2016, with its data protection period expiring in February 2024. The marketing authorization application for almonertinib was submitted on December 1, 2022. This means that at the time of almonertinib’s submission, the clinical data for osimertinib were still under data protection. AstraZeneca subsequently filed a lawsuit in this regard.

Hansoh Pharma stated that the decision pertains solely to procedural deficiencies within the EU regulatory framework and is unrelated to the product’s quality, safety, efficacy, or clinical value. The company will resubmit its marketing authorization application as soon as possible. The EMA has expressed willingness to shorten the standard assessment timeline.

3. Zhang Wenjie Resigns from Fosun Pharmaceutical

On September 30, Fosun Pharmaceutical announced:Zhang Wenjie has resigned from his position as Co-President of the Company due to personal reasons.As of this point, Zhang Wenjie no longer holds any position at Fosun Pharmaceutical or any of its listed companies and their controlled subsidiaries.

According to the announcement, Zhang Wenjie’s original term was scheduled to end on June 23, 2028. In 2025, his pre-tax annual salary reached RMB 10.9652 million.

Zhang Wenjie has over 25 years of business operations experience in the pharmaceutical industry, having previously held positions at multinational pharmaceutical companies such as Bayer, Roche, and Amgen. In March 2019, Zhang Wenjie joined Fosun Pharmaceutical. Prior to his resignation, he served as Co-President of Fosun Pharmaceutical and Co-CEO of its Innovative Drug Business Unit, while alsoConcurrently serves as Chairman of Henlius Biopharma, a subsidiary of Fosun Pharmaceutical, and Chairman of Fosun Kite.

During his tenure at Henlius, Zhang Wenjie facilitated the market launch of products such as Hanquyou, Handayuan, and Hansizhuang. He proposed a strategy of leading with biosimilars before focusing on innovative drugs.

During his tenure as Chairman of Fosun Kite, Zhang Wenjie was primarily responsible for the commercialization and accessibility exploration of Yikaida (axicabtagene autoleucel injection), China’s first CAR-T product. In an interview, Zhang Wenjie pointed out that the core challenge in the commercialization of autologous CAR-T therapy lies in high production costs. He proposed significantly reducing CAR-T production costs within two to three years and stated that the proportion of commercial insurance in China’s healthcare expenditure still needs to be increased.

4. NovartisandAbogenReaching a $7.8 Billion Partnership

October 2,Abogen Announces: Granting Novartis the Exclusive Global License for mRNA Drug ABO2203，and an exclusive option to license other potential projects developed based on Abogen’s proprietary RNA platform.

Abogen will receive an upfront payment of $575 million.If all options for the projects under the agreement are fully exercised, Abogen shall be eligible to receivePotential milestone payments of up to approximately $7.2 billion，and potential sales royalties.

Data indicates that ABO2203 is an innovative mRNA-encoded CD19xCD3 T-cell engager, designed to achieve B-cell reset by guiding the in vivo endogenous production of TCEs via mRNA. According to data from PharmaCube, there are currently three mRNA-encoded CD19xCD3 T-cell engagers globally, with Abogen’s ABO2203 being the most advanced project, currently in Phase I clinical trials.

Ying Bo, Founder and CEO of Abogen, disclosed that ABO2203 is the first mRNA-encoded TCE candidate drug targeting autoimmune diseases to enter clinical evaluation globally.

5. YolTech Therapeutics and Its Founder Sued

On September 25, multiple media outlets reported:U.S. Gene-Editing Company Beam Sues Chinese Gene-Editing Firm YolTech Therapeutics and Its Founders, Including Wu Yuxuan and Wang Zijun，Allegations that Wang Zijun obtained internal technical information from Beam during his tenure, and after leaving the company, used such information for patent applications and product development at YolTech Therapeutics, while advancing commercialization in the United States through business development efforts.

The products involved in this lawsuit are YolTech Therapeutics’ YOLT-202 and Beam’s BEAM-302. Both target the same rare disease, the same mutated gene, and utilize the same delivery route. In June 2026,YolTech Therapeutics has licensed the global rights to YOLT-202, excluding the Greater China region, to Serapha, with a total transaction value exceeding $2 billion.，This BD deal is regarded as the largest in terms of value in the history of gene therapy in China.

In its complaint, Beam alleged that between 2021 and 2022, while employed at the company, Wang Zijun secretly participated in the founding of YolTech Therapeutics. Prior to his resignation, he accessed dozens of experimental records that had never previously been opened and were far beyond the technical scope of his job responsibilities, with access times concentrated during nights and weekends. On June 23, 2022, YolTech Therapeutics filed a Chinese patent application for lipids, listing Wang Zijun as the inventor.

In response, Wu Yuxuan denied the allegations when speaking to The Economic Observer, stating that he had retained top U.S. lawyers to handle the case.，It also highlights that YolTech Therapeutics possesses a complete, independently developed R&D pipeline. Following its market launch, the YOLT-202 pipeline is projected to achieve annual global sales of $5 billion.

6. CHIATAI TIANQING’s K Drug BiosimilarBD InitiativesEurope

On September 28, China Biopharmaceutical announced that its subsidiary, CHIATAI TIANQING, has entered into a strategic partnership on biosimilars with the German pharmaceutical company STADA Arzneimittel AG.

The first collaborative product between the two parties is TQB3570, a biosimilar of pembrolizumab.，In addition, STADA may also add options for up to three other biosimilar molecules.

According to the agreement,CHIATAI TIANQING will receive an upfront payment and milestone payments totaling up to €53 million.STADA has obtained the exclusive license for the commercialization of TQB3570 in the European Union, Switzerland, the United Kingdom, and the Commonwealth of Independent States. CHIATAI TIANQING is responsible for product research and development, manufacturing, and commercial supply, while STADA is responsible for advancing product launch and commercial operations.

Zhongsheng Pharmaceutical points out that the period from 2025 to 2034 is a window for the concentrated expiration of global biologic drug patents. During this period, 118 biologic drug patents will expire in the U.S. market, corresponding to an overall market size of over $230 billion for original branded drugs.

7. Borui Medicine HK StockIPOTermination

September 30,Borui Medicine Announcement: The Company’s Board of Directors Has Approved the Proposal to Terminate the H-Share Issuance and Listing on the Main Board of the Hong Kong Stock Exchange.

Borui Medicine stated that the company, considering the impending expiration of its previously submitted H-share listing application, and taking into account its actual operational status as well as changes in the domestic and international capital market environments, made this decision after comprehensive evaluation with its intermediaries.

In October 2025, BrightGene Biomedical Technology Co., Ltd. formally submitted its initial listing application to the Hong Kong Stock Exchange (HKEX), which ultimately lapsed. In May 2026, BrightGene resubmitted its listing materials in a second attempt to list on the HKEX.

Bori Medicine has consistently been at the center of public opinion storms in recent years. In June 2026,Borui Medicine Announces: Actual Controller Yuan Jiandong Granted Bail Pending Trial by Public Security Organs on Suspicion of Manipulating the Securities MarketAs the company’s founder, Yuan Jiandong serves as Chairman of the Board and General Manager, while also acting as Chief Financial Officer and Secretary to the Board of Directors, thereby wielding substantial control over the company. However, he has repeatedly been subject to inquiries and warnings from regulatory authorities due to his personal interests and public statements.