As China’s fifth approved CAR-T cell therapy, CARSgen/Huadong’s zevorcabtagene autoleucel is priced at $159,735 for a single infusion. Expanding patient access will become a formidable task for the companies, due to the poor prospects of reimbursement coverage by China’s public medical insurance program. 

10 orphan drugs imported from overseas, and 40 new drug approvals, including many from domestic developers, capped 2023 as one of the busiest years for China's drug regulatory agency, as Beijing pivoted to emphasizing affordable innovation and expanding access to newer therapies for rare conditions.

Private Company Edition: Amylyx will use its new cash to run a Phase III trial and submit applications seeking EU and Canadian approvals of AMX0035, but US filing plans based on prior Phase II/III data are less clear. Also, three VC firms raised new funds targeting biopharma and other investments.

Accelerated initial public listings, multi-million dollar deals and hot investment fund influxes fuel an already record-setting July for biotech fundraising in China.