In the field of artificial intelligence, DeepSeek has rapidly risen through a low-cost and high-efficiency approach, becoming the focus of global attention. In China's biotechnology field, a more subtle yet profound revolution is underway. Chinese pharmaceutical companies, which were once dominated by generic drugs, are astonishingly emerging as the "cost - effectiveness champions" in global drug innovation at an incredible pace. The core of this transformation lies not only in technological breakthroughs but also in the qualitative change of China's biotechnology ecosystem from "trailing" to "self - driven".
I. The DeepSeek Moment
The Emergence of AK112 and "Chinese - Style Innovation" Gary Rieschel pointed out in an interview that the "DeepSeek moment" for China's biotechnology arrived when Ivonescimab (AK112), a bispecific antibody developed by Kangfang Biotech, made its debut. This drug demonstrated in clinical trials that its efficacy is twice that of Merck's blockbuster drug Keytruda, while its R & D cost is only one - third of that of its American counterparts. This marks a significant shift for China's biotechnology from "improving existing drugs" to "breakthrough innovation".
The Breakthrough Significance of AK112
1. Dual - target Design: It simultaneously targets PD - 1 (a crucial point in immune escape) and VEGF (a tumor angiogenesis factor), precisely suppressing tumor growth and immune suppression.
2. Cost Advantage: The Chinese engineering team achieved technological breakthroughs at a lower cost, with the R & D cycle shortened to 60% of that of similar American projects.
3. Global Competition Landscape: As the "drug king" with annual sales of $30 billion, Keytruda is facing a direct challenge from a Chinese drug for the first time. This has disrupted the traditional "American - centric" paradigm in drug R & D.
II. The Decade - Long Transformation of China's Biotechnology Ecosystem
Unlike the "explosive innovation" in artificial intelligence, biotechnology requires long - term accumulation. However, in just a decade, China has narrowed the gap with the United States from 20 years to 2 - 3 years. Behind this achievement are the combined effects of multiple factors:
1. Talent Return and Local Cultivation
In the 2010s, a large number of scientists trained in the United States, such as Cai Junsheng, the founder of Kangfang Biotech, chose to return to China, bringing with them cutting - edge technical expertise. - Investment in Chinese universities and research institutions has surged. For example, Zhangjiang Pharmaceutical Valley in Shanghai has become a global hub for biotechnology talent.
2. Cost and Efficiency Advantages
R & D Costs: The cost of clinical trials in China is only one - fifth of that in the United States, and the approval process has been accelerated (such as the "priority review" mechanism of the National Medical Products Administration of China, NMPA).
Industrial Chain Integration: China has established the world's most complete biomanufacturing industrial chain, spanning from bulk drugs to biological reagents, with significant cost advantages.
3. Global Trials of the "Licensing Model"
Chinese pharmaceutical companies have gained experience through technology licensing (Licensing - out). For example, Summit Therapeutics licensed the precursor drug of AK112 from Akeso, and Merck obtained an oral GLP - 1 drug from Hansoh Pharmaceutical. This model not only mitigates the risks of global market access but also paves the way for future independent expansion overseas.
III. Challenges and Games
The Tariff Dilemma and Supply Chain Dependence Despite the strong momentum of China's biotechnology, globalization still faces obstacles:
1. The "Counterproductive" Trump Tariffs
The United States has attempted to limit the development of China's biotechnology through tariffs. However, Gary Rieschel pointed out that the "chokepoints" in biotechnology, such as key reagents and equipment, are scattered and difficult to sever. - Supply Chain Dependence: The United States is highly reliant on biological reagents (such as antibodies and cell culture media) produced in China. Imposing tariffs would exacerbate the problem of high medical costs in the United States (the price of the same drug is 10 - 30 times higher than in China).
2. Shortcomings in Global Distribution and Clinical Trials
Chinese pharmaceutical companies still lack sufficient experience in clinical trial networks and local regulations in the European and American markets. They need to address these gaps through cooperation. For example, Kangfang Biotech has partnered with Summit to promote the global trials of AK112.
3. The "Last Mile" of the Innovation Ecosystem
China still needs to improve the efficiency of translating laboratory research into market - ready products. For instance, venture capital in the United States provides more mature support for early - stage biotechnology, while China needs to refine the mechanism for integrating venture capital with the industry.
IV. The Next Decade
The Global Chessboard of China's Biotechnology
1. "Cost - Effective Innovation" Reshaping Global Rules
Large pharmaceutical companies, such as Merck and AstraZeneca, are turning to China in search of low - cost and high - efficiency innovative drugs. This trend will squeeze the survival space of small and medium - sized biotechnology companies in the United States. The stagnation of the US biotechnology ETF and the divergence of the S&P 500 already reflect the anxiety of capital about "Chinese competition".
2. The Two - Way Game between Policy and Market - China
It needs to address the medical payment issues in an aging society (currently, medical expenditure accounts for approximately 7% - 8% of GDP, far lower than 18% in the United States). The United States: Its tariff policy may have the opposite effect, forcing it to reform its inefficient medical system.
3. Balancing Technology and Ethics
The "rapid iteration" of China's biotechnology requires a balance between data transparency and international regulatory standards to avoid repeating the "technical controversies" in the AI field. After the rise of DeepSeek, the "Chinese moment" in life sciences has arrived. From generic drugs to innovative drugs, and from cost advantages to technological breakthroughs, the ascent of China's biotechnology validates Gary Rieschel's assertion: "The Chinese ecosystem is approaching self - sufficiency and no longer needs to 'borrow' innovation from the United States." This quiet revolution is not merely about the speed and cost of drug R & D. It also points to a deeper question: In the field of life sciences, can China, like DeepSeek in the AI field, use "cost - effectiveness" as a lever to tip the scales of global innovation? The answer may lie in the next breakthrough similar to AK112.