The chief executive of JW Therapeutics stated Tuesday that China’s pharmaceutical sector remains unaffected by the government’s increased oversight of technology-related business deals.
International pharmaceutical companies are increasingly looking to China-developed experimental treatments as they work to reduce expenses before patent protections expire, with industry experts forecasting biotech licensing agreements could reach new highs this year.
However, Chinese authorities recently forced U.S. technology company Meta to reverse its acquisition of artificial intelligence company Manus, valued at more than $2 billion, as part of stricter reviews of American investments in Chinese companies working on advanced technologies. This action has created concerns across multiple industries.
“For us, everything is business as usual. Our cross-border collaborations, especially in CGT (cell and gene therapies), are particularly dependent on international cooperation. So far, I have not seen any impact,” Chief Executive Leo Tian told Reuters.
The company, whose majority owner is American pharmaceutical firm Bristol Myers Squibb through its subsidiary Juno Therapeutics, focuses on cell immunotherapy treatments. Tian noted that JW was “actively seeking cooperations” with international companies for products in its development pipeline.
Previous reporting indicated that China’s decision to block Meta’s purchase of Manus could increase risks for international investors considering investments in advanced technology companies with Chinese connections.
