Mei Ri Jing Ji Xin Wen·2026-01-13 12:33Core Insights - The article highlights significant advancements in China's biopharmaceutical sector, particularly in the PD-1/VEGF dual antibody space, marked by major deals and regulatory submissions that indicate a shift from follower to leader status for Chinese companies in the global market [1][2][3]. Group 1: Major Developments - Rongchang Biopharma announced a $5.6 billion licensing agreement with AbbVie for its PD-1/VEGF dual antibody RC148, with an upfront payment of $650 million and potential milestone payments of up to $4.95 billion [2]. - Summit Therapeutics, a partner of Kangfang Biopharma, submitted a Biologics License Application (BLA) for Ivoris monoclonal antibody to the FDA, targeting EGFR-mutant non-small cell lung cancer, with a decision expected in Q4 2026 [3]. Group 2: Market Dynamics - The PD-1/VEGF dual antibody market is becoming increasingly competitive, with major pharmaceutical companies investing heavily, indicating the high commercial value of this therapeutic area [5][6]. - The termination of a collaboration between Yiming Biotech and Instil Bio serves as a cautionary tale, highlighting challenges faced by Chinese innovative drug companies in global markets, including the need for strong financial backing and execution capabilities [1][7]. Group 3: Future Outlook - The success of Kangfang's Ivoris monoclonal antibody in clinical trials could position it as a leading product in the market, potentially capturing significant market share if it demonstrates strong overall survival data [4][10]. - The increasing number of PD-1/VEGF products in clinical stages, with 14 products linked to Chinese companies, suggests a crowded competitive landscape, which may complicate future business development opportunities for companies like Yiming Biotech [8][9].