Two IPOs and 12 venture capital and private equity deals in China raised a combined $1bn in a hectic few weeks of October.

After the anti-PD-1/L1 antibody and cell therapy rush, antibody-drug conjugates are quickly gaining attention in China as new technologies and deal-making activity heats up, but one first mover warns of potential over-crowding.

A concerted effort to mobilize the pharma industry, research organizations and state-backed healthcare venture capital firms is under way in Shanghai.

In this week's podcast edition of Five Must-Know Things: US tax policies challenge pharma; J&J’s long-time R&D head to retire; Legend Biotech’s CEO talks about plans; BMS disappointment in ulcerative colitis; and another gene therapy partnership for Takeda.