Daiichi Sankyo obtains rights to antiemetic Nasea and the anti-hypertension drugs Perdipine and Oldeca. Mitsubishi Tanabe licenses Asian rights to Viela’s inebilizumab for a rare eye disorder.

Just one year ago, biotechs were queuing up to list in Hong Kong following a relaxation of rules, but now many are postponing plans or simply shifting away, impacted by the market's low valuations, fast-changing environment and surprisingly strong competition from a new Shanghai trading section.  

China has officially unveiled its newest stock market for pre-revenue high-tech companies, already attracting ChipScreen and marking a new rival to similar bourses in the US and Hong Kong. But some are cautioning that local regulators and investors will need to step up if the so-called China Nasdaq is to gain traction.

Deals among domestic Chinese biotechs are growing fast, reflecting a need to huddle up amid tightening scrutiny over biotech deal-making and an unusually competitive immuno-oncology market.