SAN FRANCISCO – A shifting regulatory climate and an increasing push for innovation combined with a staggering amount of capital is expected to significantly increase the rate of cross-border dealmaking between China firms and U.S.-based and multinational companies, experts predicted during the Chinese American Biopharmaceutical Society meeting Wednesday.
The past few weeks alone have seen some impressive deals, most notably Nanjing, China-based Legend Biotechnology Corp.'s deal with Johnson & Johnson's Janssen Biotech Inc. to develop CAR T candidate LCAR-B38M, which involved a whopping $350 million in cash up front, plus development, regulatory and sales milestones. Worldwide costs and profits will be shared 50-50, with Legend holding a bigger piece for the greater China market on a 70-30 basis. (See BioWorld, Jan. 2, 2018.)
Earlier this month, Jiangsu Hengrui Medicine Co., of Shanghai and Lianyungang, inked two out-
