China In 2018: Watch Out For AI, CAR-T And Biotech Unicorns
Armed with massive amounts of data, China is poised to make a dent in big data-driven innovation and artificial intelligence applications including smart health. A policy push to encourage the development of novel drugs also means there may be more biotech unicorns and innovative therapies to attract investment inflows.
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2017 may become a banner year for the China FDA as the agency officially joined the ICH process and began aligning more closely with the US FDA, approving over 25 innovative new drugs so far with an increasing focus on treatments for cancer, hepatitis and orphan diseases.
China's internet giants Baidu, Alibaba and Tencent, collectively called BAT, are increasingly tapping into digital health to benefit from recent policy changes, and 2017 saw pharma companies eagerly jump onboard to share the potential gains.
Data from a Phase I trial testing the CAR-T therapy bb2121 in in heavily treated patients with relapsed refractory multiple myeloma were encouraging, driving bluebird's stock up 10%.