2026 JPM Conference Concludes – Chinese Innovative Drugs’ Overseas Expansion Enters a New Phase of High-Quality Development

2026 JPM Conference Concludes – Chinese Innovative Drugs’ Overseas Expansion Enters a New Phase of High-Quality Development

January 16, 2026 global, meritsip 0 Comments

The 44th J.P. Morgan Healthcare Conference (JPM 2026), officially known as the J.P. Morgan Healthcare Conference, was held in San Francisco, USA, from January 12 to 15, 2026.

As a top-tier event with both academic influence and industrial benchmarking significance in the global healthcare sector, this year’s conference focused on cutting-edge topics including the infrastructure development of AI-driven drug discovery, technological breakthroughs in gene and cell therapies, and global cooperation in innovative pharmaceuticals. It also featured in-depth discussions on key directions such as the competitive landscape of GLP-1 weight loss drugs, the commercialization of promising technologies like ADCs (Antibody-Drug Conjugates) and bispecific antibodies, and the optimization of cross-border BD (Business Development) and M&A strategies.

Gathering over 8,000 industry elites, more than 500 listed companies, and thousands of startups, the conference witnessed remarkable performances by Chinese enterprises. Seven Chinese companies delivered keynote speeches at the main venue, including three CXO leaders (WuXi AppTec, WuXi Biologics, and WuXi XDC) and four innovative drug representatives (BeiGene, Zai Lab, Ascentage Pharma, and Legend Biotech). Additionally, 17 enterprises such as Hengrui Medicine, Bio-Thera Solutions, 3SBio, and 荣昌生物 (Rongchang Biologics) participated in the Asia-Pacific 专场 exhibition, while 24 companies including Henlius Biotech and ElpisBio showcased core clinical data. These participations not only revealed the core trends of industrial development but also witnessed the profound transformation of the global medical innovation landscape.

During the conference, Chinese innovative pharmaceutical companies announced a series of landmark transactions:

I. NVIDIA and Eli Lilly Collaborate to Establish AI Drug Discovery Laboratory

On January 12 (local time), at JPM 2026, NVIDIA and Eli Lilly announced plans to jointly build a new AI-driven innovation laboratory in the San Francisco Bay Area. The two parties intend to invest up to $1 billion over the next five years in talent recruitment, infrastructure development, and computing power enhancement, focusing on AI empowerment throughout the entire drug discovery and development process. The laboratory is scheduled to commence operations in early 2026, as disclosed by the companies.

The laboratory will adopt NVIDIA’s latest Vera Rubin architecture AI chips to support cutting-edge biomedical research, aiming to reshape drug R&D processes in the AI era. It will also integrate Eli Lilly’s expertise in drug development and clinical research.

This investment represents a deepening of the existing cooperation between NVIDIA and Eli Lilly. As early as October 2025, Eli Lilly announced plans to build an “AI factory” using NVIDIA’s AI systems to shorten drug R&D cycles. The company stated that it is constructing a supercomputer with over 1,000 of NVIDIA’s current-generation Grace Blackwell AI chips, which is expected to become one of the world’s most powerful AI computers.

“AI is transforming every industry, and its most profound impact will be in life sciences,” said Jensen Huang, Founder and CEO of NVIDIA. “NVIDIA and Eli Lilly are combining the strengths of two industries to create a new blueprint for drug discovery – allowing scientists to explore vast biological and chemical spaces through computer simulations before synthesizing any molecules.” Beyond drug discovery, the collaboration will explore opportunities to apply AI in clinical development, manufacturing, and commercial operations, integrating multimodal models, agentic AI, robotics, and digital twin technologies.

II. Rongchang Biologics Signs Exclusive License Agreement with AbbVie for RC148

On January 12, Rongchang Biologics Co., Ltd. announced the signing of an exclusive license agreement with AbbVie Inc. for RC148, a novel PD-1/VEGF bispecific antibody independently developed by Rongchang Biologics. Under the agreement, AbbVie will obtain exclusive rights for the development, manufacturing, and commercialization of RC148 outside Greater China. Rongchang Biologics will receive an upfront payment of $650 million, with the potential to earn up to $4.95 billion in development, regulatory, and commercial milestone payments, plus tiered double-digit royalties on net sales outside Greater China.

RC148 is a novel PD-1/VEGF bispecific antibody designed to activate anti-tumor immune responses while inhibiting tumor-driven angiogenesis. By simultaneously targeting and inhibiting the PD-1 and VEGF pathways, it aims to enhance the immune system’s anti-tumor activity through multiple mechanisms. Currently, Rongchang Biologics is conducting clinical trials in China evaluating RC148 as a monotherapy and in combination with other treatments for patients with various advanced solid tumors.

“RC148 is a globally competitive PD-1/VEGF bispecific antibody in Rongchang Biologics’ pipeline. As a key direction for next-generation tumor immunotherapy, PD-1/VEGF bispecific antibodies are expected to become cornerstone drugs for cancer treatment,” said Dr. Jianmin Fang, CEO of Rongchang Biologics. “This collaboration will accelerate the global development and commercialization of RC148, providing innovative treatment options for patients worldwide, demonstrating RC148’s innovative potential and its prospects in addressing unmet medical needs in cancer treatment, and enhancing Rongchang Biologics’ brand value and international influence. Combining Rongchang Biologics’ outstanding R&D capabilities with AbbVie’s global leadership, this partnership will maximize the global clinical and commercial value of RC148.”

“Our collaboration with Rongchang Biologics underscores our commitment to advancing innovative oncology treatments, expanding our multispecific antibody pipeline to target multiple disease pathways, and improving patient outcomes,” said Daejin Abidoye, Vice President, Oncology/Solid Tumors and Hematology at AbbVie. “By integrating immune checkpoint inhibition with anti-angiogenic activity in a single therapy, we believe RC148 has the potential to deliver significant clinical benefits to patients with various tumors.”

These two landmark transactions epitomize the evolution of Chinese innovative drugs from “asset licensing overseas” to “global value validation.” From an industrial development perspective, following Akeso Biopharma’s record-breaking $5 billion bispecific antibody licensing deal, PD-1/VEGF bispecific antibodies have emerged as a core technology track pursued by global pharmaceutical giants. Since 2023, bispecific antibody products from domestic enterprises such as PemiRx Biopharma, Lixin Pharmaceutical, and 3SBio have successively entered high-value licensing collaborations with global leaders including BioNTech, Merck, and Pfizer. Transaction values have continued to rise, with upfront payments increasing from the $500 million range to the $1.25 billion range, forming an industrial upsurge of global cooperation in China’s bispecific antibody track. This confirms that China’s innovative drug R&D capabilities have gained widespread recognition in the global market.

The participation pattern and achievements of this year’s JPM Conference clearly demonstrate that Chinese innovative pharmaceuticals have entered a new phase of “global value validation.” Beyond the bispecific antibody track, cutting-edge technology areas such as ADCs, gene editing, and AI-driven drug discovery have become core focus areas for Chinese pharmaceutical companies. During the conference, seven Chinese enterprises, including CXO leaders (WuXi AppTec, WuXi Biologics) and innovative drug companies (BeiGene, Legend Biotech), delivered speeches at the main venue, systematically showcasing the R&D capabilities and industrial advantages of China’s pharmaceutical industry. Henlius Biotech presented its global layout strategy for 10 marketed products covering oncology and ophthalmology through clinical data dissemination. BeiGene updated the clinical progress of core pipeline assets such as its CDK4/6 inhibitor, with its flagship drug Brukinsa (zanubrutinib) having become the BTK inhibitor with the broadest range of approved indications globally, fully demonstrating the global clinical value of Chinese innovative drugs.

Industry insiders note that future Chinese innovative pharmaceutical companies need to focus on a differentiated development path of “scarcity target discovery + core technology innovation” to build core competitiveness through technological breakthroughs. Meanwhile, they should promote the transformation of global layout from traditional “product licensing overseas” to “dual-driver of R&D and commercialization,” gradually transitioning from “fast followers” to “systemic innovators,” and deeply integrating into the global medical innovation ecosystem.

The 44th J.P. Morgan Healthcare Conference served as both a comprehensive review of technological revolutions represented by AI and cell/gene therapies, and a milestone event for the systematic reevaluation of China’s biopharmaceutical industry’s global status. Through systematic presentations, landmark transactions, and voices on cutting-edge technologies, Chinese innovative forces have proven their growth from “newcomers” to an indispensable “main force” in global medical innovation. Looking ahead, driven by technology, capital, and global strategies, China’s biopharmaceutical industry is expected to complete a historic leap from deep integrators to important shapers of the global innovation system through continuous value validation, a process that will profoundly impact the treatment landscape for patients worldwide and the future direction of the industry.

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