The Westin St. Francis Hotel Grand Ballroom in San Francisco, California, U.S., where the J.P. Morgan Healthcare Conference is being held on Monday / Provided by JP Morgan

The 44th JP Morgan (JPM) Healthcare Conference, the world's largest investment event in the pharmaceutical and biotech industry, opened with Chinese biotech companies taking center stage. These firms made their mark by successfully exporting technology to big pharma, despite ongoing scrutiny from the U.S. government.

At the conference held at The Westin St. Francis hotel in San Francisco on Monday, AbbVie announced a landmark deal to acquire RC148, a dual antibody cancer treatment candidate, from Chinese biotech firm RemeGen. The agreement is valued at up to 5.6 billion USD, a substantial figure in the industry.

This deal grants AbbVie exclusive rights to develop, manufacture, and commercialize RC148 globally, with the exception of the Greater China region.

The terms include an upfront payment of 650 million USD to RemeGen, with potential earnings of up to 4.95 billion USD in milestone payments. Additionally, RemeGen stands to receive tiered royalties on net sales generated outside Greater China.

RC148 is an innovative dual-specific antibody candidate targeting both PD-1 and vascular endothelial growth factor (VEGF).

This class of PD-1/VEGF dual-specific antibodies has garnered significant interest as a novel cancer treatment. By simultaneously blocking PD-1 and VEGF, these antibodies aim to enhance the immune system's ability to combat tumors and overcome resistance mechanisms. Major pharmaceutical companies have shown keen interest in this approach.

In another significant development, Swiss pharmaceutical giant Novartis formed an alliance with Chinese biotech venture SciNeuro Pharmaceuticals, focusing on treatments for neurodegenerative diseases.

Novartis inked a deal worth up to 1.7 billion USD to acquire SciNeuro Pharmaceuticals' antibody technology for delivering Alzheimer's treatments to the brain. The collaboration involves Novartis providing initial research funding and conducting joint research, before taking sole control of development during the commercialization phase.

SciNeuro Pharmaceuticals' licensed pipeline combines antibodies with a blood-brain barrier (BBB) penetration platform, potentially leading to improved side effect profiles if development proceeds as anticipated.

 Chinese Biotech Firms Gain Ground: Cost-Effective Solutions and Rich Clinical Data

Prior to the conference, industry analysts had predicted that the event would serve as a crucial platform for Korean Bio (K-Bio) companies to forge global partnerships. This expectation was based on past successes, where companies like Yuhan Corporation, Hanmi Pharmaceutical, and ABL Bio had secured major technology export deals with global pharmaceutical firms during previous JPM conferences.

However, the first day concluded without any significant announcements from K-Bio companies, leaving an opening that Chinese biotech firms quickly filled.

An industry insider commented that the strong presence of Chinese biotech companies at this event has positioned them as prime targets for merger and acquisition (M&A) and partnerships with global pharmaceutical giants. Despite increased U.S. scrutiny of China's biotech sector, it is witnessing a surge in acquisitions and licensing agreements between major global players and Chinese biotech firms.

The source further explained that Chinese biotech companies are attracting interest due to their cost-effective operations, wealth of clinical data, and robust regulatory support from the Chinese government. However, they cautioned that it's still early in the conference, and K-Bio companies could still secure major contracts.

The coming days will see presentations from key players in the K-Bio sector. Samsung Biologics and Celltrion are scheduled to present in the main track on Tuesday, while Alteogen, D&D Pharmatech, and Hugel will feature in the Asia-Pacific (APAC) track, which focuses on companies from Asia and Oceania. These presentations are anticipated to yield positive outcomes.

On Monday, a green light is on at the traffic signal in front of The Westin St. Francis Hotel in San Francisco, California, U.S., where the J.P. Morgan Healthcare Conference is being held 2026.1.12 / News1

Spotlight on Nvidia-Lilly Collaboration and Next-Gen Business Leaders

Artificial intelligence (AI) emerged as a central theme of the day's discussions. Nvidia announced a significant partnership with Eli Lilly, pledging to invest up to 1 billion USD over five years to establish a joint research lab in the San Francisco Bay Area. Similarly, Sanofi outlined plans to enhance its business development capabilities by realigning priorities and leveraging AI-powered analytics.

In the Korean business landscape, the presence of third-generation business leaders drew attention. Shin Yoo-yeol, son of Lotte Group Chairman Shin Dong-bin and vice president of Lotte Holdings, and Choi Yoon-jung, daughter of SK Group Chairman Choi Tae-won and head of strategy at SK Biopharmaceuticals, both made the journey to attend the JPM Healthcare Conference.

Shin emphasized that the primary goal of their attendance was to analyze global market trends closely and expand connections with potential clients.

Choi stated that her role as head of strategy at the conference would involve actively seeking collaboration opportunities to maximize the value of global partnerships, pipeline developments, and new modalities, with the aim of crafting a more comprehensive growth strategy for SK Biopharmaceuticals.

The 44th JP Morgan (JPM) Healthcare Conference, the world's largest investment event in th …

China's Biotech Breakthrough: AbbVie Secures 5.6 Billion USD Deal for RC148 at JPM Healthcare Conference