9th Annual BFC Global Healthcare BD & Investment Conference

During the past year, we have seen explosive growth in out-licensing of Asian innovations to global biopharma companies.

l Novartis signed a deal worth up to $5.2 B with Argo Biopharma for global rights to its cardiovascular siRNA asset—one of the largest licensing transactions involving an Asian biotech this year

l Pfizer acquired ex-China rights to SSGJ-707, a PD-1/VEGF-targeted bispecific antibody from 3SBio, with a $1.25 billion upfront and up to $4.8 billion in milestones; Pfizer will also invest $100 million in 3SBio equity.

l Merck secured ex-Greater China rights to HRS-5346, an oral Lipoprotein(a) inhibitor from Jiangsu Hengrui Pharmaceuticals, with a $200 million upfront payment and potential milestones up to $1.77 billion.

l AstraZeneca agreed to a collaboration worth up to $5.2B with CSPC to develop oral small-molecule therapies for chronic and immunological diseases.

By July 2025, nearly 18% of global licensing deal volume involved Asian assets, with roughly one-third of total deal value originating from Asia. This represents a profound shift: Asia is no longer just a regional supplier but an essential partner in the global pharmaceutical innovation ecosystem.

Pharma companies worldwide continue to show strong appetite for differentiated, globally competitive assets. Beyond oncology, new frontiers are rapidly opening up — immunology, cardiovascular, and CNS drugs are emerging as major areas of out-licensing. At the same time, avant-garde modalities and technologies — from AI-enabled drug discovery to siRNA, brain shuttle platforms, and other cutting-edge innovations — are gaining international recognition.

In today’s ecosystem, no single region can advance innovation alone. True progress for patients requires the combined strengths of global pharma and Asian innovators — leveraging complementary capabilities to accelerate development, expand access, and ultimately reduce healthcare costs worldwide. This year’s conference aims to build on that momentum by fostering collaboration, dialogue, and shared commitment among industry leaders worldwide.

Host or Publisher BFC Group