Jan van de Winkel, CEO of Denmark-based biotech Genmab (NASDAQ: GMAB), has expressed optimism about the potential of China’s biotech industry to drive innovation for multinational corporations (MNCs). This sentiment comes in the wake of Genmab’s significant foray into the Chinese market with the acquisition of Sino-US antibody-drug conjugate (ADC) specialist ProfoundBio in a deal valued at USD 1.8 billion, announced in April.
Van de Winkel, as reported by the Financial Times, considers China a burgeoning hub of “mind-bogglingly impressive innovation,” a perspective that contradicts prevailing “anti-Chinese sentiment.” He advises foreign pharmaceutical companies not to overlook the potential of Chinese biotech firms, which are experiencing rapid growth, supported by substantial government investment.
Established in 2019, Profound Bio maintains its headquarters in Seattle, US, and conducts research activities in Suzhou, China. During a recent visit to the Suzhou campus, Van Winkel remarked on the vibrant activity levels at Suzhou’s BioBay, likening the scene to “a new industrial revolution in biotech and life sciences,” and noting the presence of all major companies in the area.- Flcube.com
