Chinese developers are racing to roll out bispecific ADCs with different target combinations, while a Biokin/SysImmune executive estimates more than $20bn in annual sales for the company's BMS-partnered EGFR x HER3 candidate, as R&D in the field continues to surge ahead in China.

China’s Basic Medical Insurance Fund spent 7.1 times more on novel drugs in 2022 compared to 2019, according to figures disclosed by the National Healthcare Security Administration. Meanwhile, such drugs need to wait less to be eligible for reimbursement in China.

China biotechs appear increasingly interested in partnering with domestic counterparts amid signs the Chinese government's restrictive "COVID Zero" policies are likely to stay until well into 2023.