Shanghai and New Jersey-based Lianbio Co. Ltd. has made its second in-licensing deal in a week. This time, it obtained rights for omilancor and NX-13, both under development by Landos Biopharma Inc. for the potential treatment of ulcerative colitis (UC) and Crohn’s disease (CD) – plus eosinophilic esophagitis, for omilancor – in greater China, South Korea and seven ASEAN countries as part of a $218 million deal.

Amid the trend of investors partnering with Western biotech companies to set up China-focused joint ventures, San Diego-based Kinnate Biopharma Inc. has joined Orbimed Asia Partners, Orbimed Private Investments and Foresite Capital to establish a JV in Shanghai to move its preclinical kinase inhibitor candidates forward in greater China.

Multinational players are changing the way they look at China as a source for innovation as it accelerates efforts in areas such as digital health in pursuit of desire to make a global impact.

China saw $28.5 billion invested in its life sciences sector in 2020, which was double the previous year’s amount and sets a five-year high. Partnering activities and IPOs also grew exponentially over the last five years to set records.

Beigene Ltd.’s PARP inhibitor, pamiparib, won conditional approval from China’s National Medical Products Administration for treating patients with germline BRCA mutation-associated recurrent advanced ovarian, fallopian tube or primary peritoneal cancer who have been treated with two or more lines of chemotherapy.