Imunopharm Technology Co., Ltd., a Chinese biotech specializing in gene and cell therapies, has filed for an IPO on the Shanghai Stock Exchange's STAR Market to raise 2.5 billion yuan ($345 million). The funds will support R&D, manufacturing, and working capital. Founded in 2015 by a Tsinghua University team, the company has developed core platforms for gene delivery and immune cell therapies. Its flagship product, IM19, a CD19-targeting CAR-T therapy for non-Hodgkin lymphoma, has submitted an NDA and secured commercialization rights with Huadong Medicine. The pipeline extends to solid tumors with IM96 (globally approved for colorectal cancer trials), autoimmune diseases with ZM001, and next-gen technologies like in vivo CAR-T. Despite operating at a loss, the company aims to leverage its innovative platforms and diverse pipeline to compete in China's growing CAR-T market.

BeOne Medicines announced that its Phase 3 MANGROVE trial met its primary endpoint, demonstrating that a chemotherapy-free regimen of zanubrutinib plus rituximab significantly reduced the risk of disease progression or death by 43% compared to standard bendamustine-rituximab in previously untreated mantle cell lymphoma patients (HR=0.57). This marks the first Phase 3 trial evaluating a chemotherapy-free, BTK inhibitor-based regimen in the first-line setting, offering a highly effective alternative that spares patients, particularly the elderly, from the cumulative toxicities and infusion burden of traditional chemotherapy. The company plans to present full results at an upcoming medical conference and expects to file for regulatory approvals in the second half of 2026.

In June 2026, Yescarta® (axicabtagene ciloleucel), the flagship CAR-T therapy from Shanghai Fosun Kairos Biotechnology, celebrates its fifth anniversary as China's first approved cell therapy product. Approved by the NMPA on June 22, 2021, Yescarta® broke the zero-to-one barrier in domestic cell treatment and has since treated over 1,500 patients with relapsed or refractory lymphoma. Key milestones include China's first CAR-T patient achieving over eight years of cancer-free survival, the approval of a second indication for adult large B-cell lymphoma in June 2023, and the establishment of a national treatment network spanning more than 200 high-standard treatment centers across 29 provinces. The company's third indication filing for indolent non-Hodgkin lymphoma has received Breakthrough Therapy Designation. Looking forward, Fosun Kairos plans to expand its pipeline into solid tumors, autoimmune diseases, and frontier technologies including in-vivo CAR-T and CAR-NK therapies, solidifying its position as a leader in China's cell and gene therapy field.

Beijing Grit Biotherapeutics has received IND approval from China's NMPA for GT101, a tumor-infiltrating lymphocyte (TIL) therapy, for the first-line treatment of recurrent or metastatic head and neck squamous cell carcinoma. This marks China's first approved clinical trial for a TIL therapy in this indication. GT101 has previously demonstrated promising efficacy in cervical cancer, achieving a 45.5% objective response rate and complete remission in a patient, as presented at the ASCO annual meeting. Grit Biotherapeutics continues to expand its pipeline of innovative cellular therapies targeting solid tumors.

Data from a confirmatory Phase II randomized controlled trial in China showed that, among treated patients, the median progression-free survival (PFS) was 4.37 months in the Kailimei® group versus 1.84 months in the control group, representing a nearly 70% reduction in the risk of disease progression or death. In terms of median overall survival (OS), the Kailimei group achieved 9.49 months, compared with 5.49 months in the control group.

The innovative drug industry is fiercely competitive, with a scarcity of high-quality, differentiated late-stage pipelines, forcing MNCs to pivot toward early-stage projects. Although China's innovative drug R&D system is characterized by being "fast, cost-effective, and efficient," this does not alter the fundamental principles of drug development: late-stage projects have a higher likelihood of successful commercialization, whereas early-stage projects suffer from lower success rates.

At the 2026 European Hematology Association (EHA) Annual Congress in Stockholm, BeOne Medicines presented pivotal data highlighting its leadership in B-cell malignancy treatment. The oral BTK protein degrader tacabrutideg (BGB-16673) demonstrated an 85.1% overall response rate (ORR) in heavily pretreated relapsed/refractory (R/R) CLL/SLL patients, including those with high-risk features, and showed early efficacy in BTK inhibitor-naïve patients. Meanwhile, the all-oral zanubrutinib + sotorasibrant (ZS) combination achieved a 100% ORR and 98.8% uMRD4 rate in treatment-naïve CLL, with 95.5% 36-month progression-free survival (PFS) in R/R CLL and deep, durable responses in R/R MCL. These results underscore BeOne’s vision of enabling fixed-duration therapy leading to treatment-free remission across B-cell cancers.

BoAn Biotechnology announced on June 11 a licensing agreement granting its partner the rights to commercialize dulaglutide injection BA5101 in the United States, including regulatory filings and sales. BoAn will receive upfront payments, milestone payments, and sales royalties. BA5101, approved in China in August 2025, is the world’s first and only approved biosimilar to Trulicity® and has received FDA clearance to initiate clinical trials in the U.S. With Trulicity® generating $2.914 billion in U.S. sales in 2025 and the U.S. diabetes patient population projected to reach 43 million by 2050, this strategic partnership aims to enhance access to this once-weekly GLP-1 receptor agonist and capture significant market share in the growing diabetes therapeutics space.

Bispecific dual-payload antibody-drug conjugates (ADCs) represent a cutting-edge advancement in oncology, combining bispecific targeting and dual cytotoxic payloads to overcome tumor heterogeneity and drug resistance. Three Chinese pharmaceutical companies—Hangzhou DAC Biotech, Innovent Biologics, and Alphamab Oncology—have now entered the clinical stage with their respective bispecific dual-payload ADC candidates, marking a significant milestone in China’s innovative drug development. Their pipelines feature unique target combinations, distinct payload mechanisms, and advanced conjugation technologies, positioning this dual-upgraded ADC approach as a promising next frontier in solid tumor therapy.

BeOne Medicines (BeiGene, 688235.SH) announced the discontinuation of six in-development pipeline programs while presenting promising clinical data from three key oncology assets at the 2026 ASCO Annual Meeting. The strategic move aims to concentrate resources on high-potential candidates, including a CDK4 inhibitor now in global Phase III for first-line HR+/HER2- breast cancer, a B7-H4 antibody-drug conjugate advancing to Phase III in ovarian cancer, and a GPC3/4-1BB bispecific antibody showing near-standard-of-care efficacy in advanced hepatocellular carcinoma. Analysts view the portfolio consolidation positively, with CICC issuing an 'Outperform' rating and a ¥320 CNY target price.