On September 17, 2025, the 2025 IP Frontier & Pharma Forum was held in Shanghai, attracting hundreds of intellectual property experts and professionals from the pharmaceutical field. Llinks partner Mr. Xun Yang was invited to deliver a keynote speech on "IP Considerations and Challenges of the Biotech NewCo Model" and to host a panel discussion on "The Art of Licensing Deals: IP-centric Due Diligence, Valuation, and Transactions in the Life Sciences Sector."
In his keynote speech, Mr. Yang drew on his experience from the first licensing-out case under the NewCo model in China. Mr. Yang introduced the demands and intersecting interests of various parties in the NewCo model, as well as issues such as global multi-center clinical arrangements, allocation of foreground intellectual property, and IP grant-backs. Mr. Yang also provided a detailed analysis of the balance between the operational independence of the NewCo and the licensor's need to protect the integrity of its intellectual property.
Following a coffee break, Mr. Yang hosted the panel discussion. Mr. Yang and experts from pharmaceutical companies explored topics related to IP due diligence, valuation, and transaction structure in biotech business development (BD) deals. Mr. Yang elaborated on how due diligence findings and market factors influence a deal's valuation and structure. Mr. Yang also emphasized the role of cultural factors in cross-border transactions.
The discussion was highly praised by the participants. Given the increasing activity of BD transactions in China's pharmaceutical sector, considering intellectual property and other issues in these deals has become a major concern for pharmaceutical companies.
