China Strategy

A recurring theme across SDDS 2026: China as simultaneously competitor, source of in-licensable assets, and clinical-trial accelerator. Discussed most extensively at Session III.

Three Dimensions

1. Competitor — mostly best-in-class today but moving upstream toward first-in-class. 50 Chinese teams start working on your target the day your patent publishes
2. Source of assets — in-licensing deals already happening (Dadoo, Sinha each completed one in the last 12 months)
3. Clinical-trial accelerator — speed and cost advantages, especially in I&I where preclinical models under-predict

Defensive Strategies

• Stay private longer — public companies must disclose data that becomes a roadmap for fast followers
• File patents at IND, not at publication
• Keep funding rounds quiet when competitive intel is the risk
• Sometimes the right move is to partner with the Chinese competitor, not race them

Geopolitical Reality

• Some Chinese partners now prefer non-US counterparties — affects where you headquarter
• A 10–20-year wave of US-trained scientists going home rebuilt China’s risk-taking mindset
• Government reforms (pre-revenue listings, reimbursement reform, trials infrastructure) compound over a decade

AI Arbitrage

Pande’s thesis: in-license a Chinese asset, predict the trial outcome better than anyone else using AI for trials, arbitrage the spread. This is where AI + China strategy intersects.