In 2025, China's biotech out-licensing deals surpassed $135.7 billion — a historic high, accounting for over 50% of global pharma deal value for the first time. A milestone，A turning point.

Yet less than 5% of China's high-value pipeline assets have entered the global deal radar. Information asymmetry and a lack of right connections are leaving significant value undiscovered.

Signals are accelerating: 2026

Q1 saw China's biotech out-licensing exceed $57 billion — already 42% of full-year 2025, with average upfront payments jumping 59% year-over-year and 187% vs. five years ago. MNCs are now seeking earlier, more strategic partnerships — from single-asset deals to platform collaborations and co-development agreements. NewCo models are adding more flexible pathways between capital and projects.

The deal landscape is shifting. Your updated BD navigation map? It starts here — at 2026 Healthcare Investment and Financing Transaction Conference, where China's deal community calls it One BD Conference.