The recent partnerships on Claudin 18.2-targeting agents between Chinese biotechs and big pharma have brought China innovation to a new phase that Chinese firms can be proud of, an executive from Keymed Biosciences, one of the Chinese biotechs involved in such deals, tells Scrip in an interview.

Already a major player in the field thanks to Enhertu, AstraZeneca is doubling down in gastric cancer with the new antibody-drug conjugate deal with China’s KYM Biosciences.

Biogen’s return of rights to the BTK inhibitor orelabrutinib to originator InnoCare signals an ongoing tough reality for Chinese biotechs with go-global ambitions.

The hard going could get even tougher as a funding crunch continues for China’s biotech sector, which is being hit by a paradox that could see more pain ahead, leading investors to take the pulse of the sector as the Year of the Rabbit starts.