China’s Ascendent Role in Oncology Therapy Innovation

Authored by: Mariah Hanley, John L’Ecuyer, Anshu Mittal Roy, Reena Khurana, Dian Huang Davis and Vikram Singh

Contributors: Nonie Singh, Arun Nayak, Tushar Bhatia and Cheshta Kapoor

This is a preview of our latest e-book. Be sure to download the full piece below.

China has rapidly transformed from a perceived follower to a central driver of global oncology innovation, reshaping how biopharmaceutical companies source, develop, and partner on novel therapies.

Key insights:

• China now accounts for ~40% of global oncology clinical trials, up from ~10% a decade ago, reflecting a dramatic expansion in early- and mid-stage innovation.
• The country’s innovation ecosystem has broadened and matured, with especially strong growth in advanced modalities such as ADCs, bispecific antibodies, and cell and gene therapies.
• China’s global scientific visibility has surged, evidenced by a 15–30x increase in oral presentations at major oncology congresses including ASCO, AACR, and ASH.
• Western biopharma companies are increasingly sourcing innovation from China, with roughly one-quarter of global oncology BD&L deals in 2025 involving China-origin assets – often at lower cost and earlier stages than comparable ex-China opportunities.
• Regulatory reforms, policy support, and rising cancer burden are reinforcing China’s position as a credible, strategically important sourcing market.

Leveraging Putnam’s deep oncology expertise and long-standing experience advising global biopharma leaders, this e-book provides a data-driven assessment of China’s evolving oncology landscape and practical strategic recommendations. We outline how companies can effectively identify, diligence, and integrate China-origin innovation to strengthen pipelines, accelerate global development, and compete successfully in an increasingly globalized oncology market.

Download the E-book