China Biotech Podcast: BIOSECURE Updates, Genmab/ProfoundBio Deal

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• By Brian Yang and Dexter Jie Yan
  
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In this mixed Chinese- and English-language episode, guest speaker Treehill Partners co-founder Ali Pashadezah joins Brian Yang and Dexter Yan to discuss updates on the proposed BIOSECURE Act in the US Congress and US-China biotech movements. Also discussed is how Chinese biotechs are becoming acquisition targets for overseas biotech companies, including the recent purchases of Profound by Genmab and AnHeart Theraputics by Nuvantion.

The potential impact of the proposed US BIOSECURE Act continues to spread as the Biden administration increases its focus on China. But with BIO's top lobbyist and the top House sponsor of the legislation now headed out the door, the future of the bill remains uncertain.

This week will be particularly important as the US Congress returns to work and the bill's chief sponsor, Representative Mike Gallagher, could potentially push to advance the planned law.

Meanwhile, two recent Chinese biotech acquisitions have gained much attention, one being the purchase of AnHeart Therapeutics by Nuvation Bio, Inc. and the other being ProfoundBio (Suzhou) Co., Ltd.'s buyout by Genmab A/S, with both being Nasdaq-listed companies. 

What does the active acquisition scene mean for local China biotechs looking to go global and what are some of the considerations driving the deals? Treehill Partners CEO and co-founder Ali Pashadezeh joins the discussion to dissect and explain three aspects: culture connection; geopolitical proximity; and commercial relevance in terms of assets acquired.

"Simply having more data doesn't cut the deal," he noted. Chinese biotechs eyeing globalization must keep US regulatory frameworks in mind, such as FDA requirements for clinical data diversity instead of only China-specific data, and look at commercial relevance, answering questions such as "what do buyers want?"

"Drug development in the US is different than in China," Pashadezeh observed, pointing out that the traditional model of having one business development person stationed in the US to make deals won't work anymore. 

在最新一期的中国生物制药博客节目中，我们和特邀嘉宾，Treehill Partners首席执行官和共同创始人Ali Pashazadeh一起讨论。Ali曾在高盛等投行任职，他从advisory的角度，对于最新的生物制药交易进行了分析。

第一个话题是BIOSECURE法案的最新进展。这个法案的主要提案人很快就要离开国会，同时，美国生物制药行业协会BIO的首席游说官离职，这一系列事件，对于这个法案的下一步有什么影响。

第二话题是最近的两个涉及中国生物药企的并购交易。第一个是AnHeart被Nuvation收购，第二个是ProFoundBio被Genmab收购。这两个交易对于中国药企出海意义何在？为什么传统的只靠一个BD在美国去做交易的模式不再好用？买方看重哪些方面？和海外药企的交易中，中国创新药企需要具备哪些条件和准备？

Stories discussed in this episode:

(Also see "BIOSECURE: What’s Coming Next?" - Pink Sheet, 10 April, 2024.)

(Also see "Investor Faith In David Hung’s Nuvation Renewed By Anheart Buyout" - Scrip, 27 March, 2024.)

(Also see "Genmab Adds To Sector ADC Buying Spree With $1.8bn ProfoundBio Acquisition" - Scrip, 3 April, 2024.)

Citeline · China Biotech Podcast (Chinese- and English-language) - April 2024

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