China’s First CAR-T Is From Fosun Kite; Overseas Data Played Key Role
Confounding earlier speculation, the Fosun-Kite joint venture rather than Juno-WuXi AppTec, gains the first CAR-T cell therapy approval in China. The clearance is expected to be followed by several others in the highly active area.
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Chinese CAR-T therapy developer raises new funds to progress pipeline in over-subscribed IPO which ranks as the third-largest globally in the biotech sector to date this year.
Off-label use of cancer drugs in China is legal and even common in certain cases. But a line has been crossed in cases of active promotion and even conflicts of interest for some high-priced products and unproven cell therapies, unveiled by a Chinese physician whistleblower, regulatory observers say.