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ChinaBio® Partnering Forum: Top Five Risks and Opportunities to Watch in China Life Sciences in 2025

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As China’s life sciences sector continues to evolve in 2025, companies must navigate shifting regulations, dynamic dealmaking...

As China’s life sciences sector continues to evolve in 2025, companies must navigate shifting regulations, dynamic dealmaking trends, and new cross-border complexities. This panel brings together industry leaders and legal experts to explore the most pressing risks and emerging opportunities shaping the market.<ul><li>The trajectory of life sciences transactions in 2025: What’s driving deals, and where is the momentum?</li><li>The future of out-licensing and NewCo deals—temporary surge or long-term shift?</li><li>Navigating risks in an evolving market from an in-house counsel’s perspective.</li><li>Key considerations for deal sourcing between major China and U.S. pharma companies.</li><li>The impact of the DOJ’s bulk data transfer rule and the prospect of the Biosecure Act.</li><li>Cross-border partnerships: How shifting policies and regulatory scrutiny are reshaping China-U.S. biotech collaborations.</li><li>Key enforcement trends, regulatory expectations, and risk mitigation strategies for biotech and pharmaceutical companies operating in China.</li></ul>The panelists include MoFo partners Chuan Sun, Rongjing Zhao, and Derik Rao, as well as Iris Yuan, Head of Legal and Compliance at Duality Biologics, and Linda Zhang, Partner at Innokylin Capital. The panel will be moderated by MoFo associate Sarah Wang.<hr>

ChinaBio® Partnering Forum: Top Five Risks and Opportunities to Watch in China Life Sciences in 2025

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Chuan focuses his practice on cross-border M&A transactions; sophisticated technology, media, and telecom (TMT) transactions; and complex IP/commercial matters across Greater China.With 20 years of experience in both Asia and the U.S., Chuan regularly advises multinational corporations, state-owned enterprises, private companies, and PE/VC firms in complex cross-border M&A transactions, joint ventures, strategic alliances, and business separation transactions.Chuan also has significant experience in strategic corporate-commercial and technology transactions, including outsourcing, manufacturing, distribution, supply and franchising arrangements, and IP licensing arrangements across multiple industries. His TMT and IP regulatory experience includes telecommunications, e-commerce, internet, cyber security, data privacy, cloud computing, as well as telematics.Prior to joining MoFo, he worked in the Hong Kong office of a Magic Circle firm and the Chicago office of another leading international firm.Chuan co-authored the Hong Kong & mainland China chapters of Getting the Deal Through – Telecoms and Media, 2014, 2015 & 2016; the Hong Kong & mainland China chapters of Getting the Deal Through: Market Intelligence – Telecoms and Media, 2015; and the Hong Kong chapter of Sourcing World 2nd Edition 2015.Chuan is fluent in Mandarin and English.“Chuan Sun has a wealth of knowledge on his clients’ existing products and services offerings and a good understanding of what terms they are or are not willing to accept. This helps tremendously with contract negotiations.”“Chuan Sun has extensive experience in the technology space. Many other competitor firms in the technology space are not really pure IT lawyers, as they are more focus on privacy and trade marks or other related fields, as opposed to technology contracts such as SAP or Microsoft software license agreements. A normal general commercial lawyer would not be able to identify the same issues or raise the right questions, as they are not equipped with the technology know-how of the products and services, their benefits, and general industry standard terms and trending patterns in the market.” Legal 500 Asia Pacific 2020

孙川律师的执业领域集中在大中华区的跨境并购交易，复杂的技术、媒体和电信(TMT)交易以及复杂的知识产权/商务事宜。孙律师在亚洲和美国有19年工作经验，他经常代理跨国公司、国有企业、私人企业和私募股权/风险投资机构处理复杂的跨境并购交易、合资、战略联盟和业务拆分等交易。孙律师在战略性的公司商务和技术交易方面也拥有极为丰富的经验，包括外包、制造、分销、供应与特许经营安排，以及跨行业知识产权许可安排等。他在TMT和知识产权监管方面的经验包括电信、电子商务、互联网、网络安全、数据隐私、云计算以及车联网。在加入美富前，孙律师在一家 “魔法圈”律所(Magic Circle)的香港办事处和另一家领先的国际律所的芝加哥办事处工作。孙律师与他人合著了2014，2015和2016版《让交易推进下去––电信与媒体》(Getting the Deal Through – Telecoms and Media)中的香港和中国大陆章节，2015年版《让交易推进下去：市场情报––电信与媒体》(Getting the Deal Through: Market Intelligence – Telecoms and Media)中的香港和中国大陆章节，以及2015年《采购世界》第二版(Sourcing World 2nd Edition)的香港章节。2018年《亚太法律500强》指出“孙川律师十分高效、负责和实际。他非常擅长处理IT协议，包括软件许可和IT采购合同的相关事宜。他也十分善于处理跨境TMT交易。”孙律师精通普通话和英语。

Chuan Sun

Managing Partner, Shanghai

Rongjing has over 17 years’ experience advising private equity firms, institutional investors and major corporations on complex cross-border transactions, including control deals and leveraged buyouts, mergers and acquisitions, growth capital investments, spin-offs, and distressed M&A transactions. She primarily represents private equity funds in their investments and acquisitions in Asia and strategic clients in their outbound investments and acquisitions outside China. She also has extensive experience advising clients on take privates of U.S.-listed companies and other U.S. public and private company M&A transactions. Rongjing has advised a wide range of global and regional financial sponsors, including Ascendant Capital, Advantage Partners, Bain, Blackstone, Carlyle, Centurium Capital, Canada Pension Plan Investment Board (CPPIB), CITIC Capital/Trustar, China International Capital Corporation, Clearlake, Hillhouse, KKR, PAG, L Catterton, Silver Lake and Warburg Pincus. She has also advised major technology companies and multiple listed companies (including those listed on the NYSE, Nasdaq, Hong Kong Stock Exchange and Shenzhen/Shanghai Stock Exchange) on their most strategic acquisitions and investments.Rongjing was named “Lawyer of the Year (PE Foreign Firm)” by The Legal 500 China Awards in 2024 and a “Top 15 Female Lawyer” by Asian Legal Business China in 2024. She is “Highly Recommended for China Private Equity and China Corporate and M&A” by The Legal 500 Asia Pacific in 2024–2025. Clients praised Rongjing as “a lawyer with strategic insights and pragmatic commercial sense and an impressive ability to manage complex cross-border transactions.”Prior to joining MoFo, Rongjing was a partner in a leading international law firm’s Hong Kong and Shanghai offices for several years. She is a native Mandarin speaker and fluent in English. <h4>Representative Matters</h4><h5>Private Equity Investments and Controlling/Buyout Transactions </h5><ul><li>Ascendent Capital Partners in its US$1.66 billion privatization of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI), a leading international automation control system solutions provider. </li><li>The Carlyle Group <ul><li>in its leveraged buyout of HCP Packaging, a global designer and manufacturer of packaging containers for the beauty industry, from Baring Private Equity Asia. This transaction was included in “Deals of the Year 2022” by China Business Law Journal;</li><li>in its US$1.05 billion leveraged buyout of VXI Global Solutions, a U.S.-based multinational service provider with major operations in the United States, Southeast Asia, Europe, and China; </li><li>and Anchor Equity Partners in their respective investments in Airoha Technology Corp., a global leading communications solutions fabless integrated circuit design house based in Taiwan, majority-owned and controlled by MediaTek Inc. (TWSE: 2454);  </li><li>with CITIC Limited and CITIC Capital Holdings in the US$2.08 billion acquisition of the McDonald’s operations in China and Hong Kong and negotiation of a 20-year master franchise agreement―the largest McDonald’s franchise in the world; </li><li>in its US$150 million investment in OneSmart Education Group (NASDAQ: ONE); </li><li>in its pre-IPO investment in Neiwai Inc., a Shanghai-based lingerie retail group; and</li><li>in its RMB530 million investment in Beijing Ubox Technology & Trade Co., Ltd, a leading vending machine operator in China. </li></ul></li><li>Centurium Capital in its US$150 million pre-IPO investment in NTX Group, a global textile technology company.</li><li>China International Capital Corporation in its pre-IPO convertible bond investment of an auto finance company and the subsequent restructuring and litigation. </li><li>Clearlake Capital Group and its portfolio company Alkegen, one of the largest specialty materials platforms in the world, on its US$470 million partial tender offer in Luyang Energy-Saving Materials Co. Ltd., a Shenzhen Stock Exchange-listed company (SZSE: 002088). </li><li>Coatue Management in its investment in Niutron Technologies, AI Rudder Technologies, Rox (Cay) Holdings Ltd; and the US$700 million pre-IPO investment in Dingdong Maicai (NYSE: DDL).  </li><li>KKR in its US$645 million sale of MMI Holdings to a Chinese consortium and the subsequent restructuring to regain control. </li></ul><h5>Cross-Border/Public M&A Transactions  </h5><ul><li>OcuMension Therapeutics (HKSE: 01477), a Hong Kong Stock Exchange listed ophthalmic pharmaceutical platform in China </li><ul><li>in its acquisition of substantial assets valued at HK$1.28 billion (approximately US$165 million) from Alcon Inc., a global leader in eye care. The transaction involves asset purchase, global license, transition services and manufacture and supply arrangement and constitutes a very substantial transaction of OcuMension.</li><li>in its PIPE investment in Alimera Sciences, Inc., a U.S. pharmaceutical company (NASDAQ: ALIM). </li></ul><li>Sea Limited (NYSE: SE) in its acquisition of Phoenix Labs, an acclaimed independent games development company based in Vancouver.</li><li>Vimicro International Corp (NASDAQ: VIMC) in its going-private transaction.</li><li>Webull Corporation in three rounds of equity financings and pre-IPO financing, which raised over US$460 million in total. </li></ul>

赵律师执业超过十七年，她为私募股权基金、机构投资者和大型企业提供法律建议，对处理复杂的跨境交易（包括控股交易和杠杆收购、并购、成长型资本投资、分拆和困境企业并购交易）拥有丰富经验。赵律师主要代表私募股权基金处理其在中国和亚洲其他地区的投资和收购交易，以及战略客户在中国境外的投资、出海和并购交易，她还领导了众多美国上市公司的私有化交易和其他美国上市及私有公司涉及的复杂交易事务。赵律师曾为众多全球及地区性金融投资机构提供法律服务，其中包括上达资本、Advantage Partners、贝恩资本、黑石、凯雷投资、辰德资本、加拿大养老基金投资委员会、中信资本/信宸资本、中国国际金融股份有限公司、Clearlake 清湖资本、高瓴资本、KKR、太盟投资集团（PAG）、L Catterton、银湖资本以及华平投资等。她还曾协助多家领先的科技公司及多家上市公司（包括在纽约证券交易所、纳斯达克、香港联交所及深圳/上海证券交易所上市的公司）完成其最具战略意义的并购和投资交易。赵律师在2024年荣获《法律500强》中国大奖“年度最佳律师（私募股权-外资律所）”称号，并被《亚洲法律杂志》（Asian Legal Business China）评选为“2024年中国15佳女律师”。她还在《亚太法律500强指南（2024-2025）》中被评为“中国私募股权及中国公司并购领域的高度推荐律师”。客户评价她“具备战略洞察力和务实的商业思维，并在管理复杂跨境交易方面展现出卓越的能力。”在加入美富之前，赵律师曾在一家领先的国际律师事务所的香港和上海办事处担任合伙人数年。赵律师的母语为普通话，精通英语。<h4>具有代表性的交易</h4><h5>私募股权投资和控股/收购交易 </h5><ul><li>代表上达资本处理和利时自动化技术有限公司（纳斯达克股票代码：HOLI）16.6 亿美元的私有化事宜。</li><li>代表凯雷投资集团 <ul><li>处理其向霸菱亚洲投资基金对HCP Packaging公司进行的杠杆收购。HCP Packaging是一家美容行业包装容器的全球设计与制造商，该交易被《商法》杂志评为“2022年度交易”；</li><li>处理其以10.5亿美元对VXI Global Solutions进行的杠杆收购，该公司是一家美国跨国服务提供商，在美国、东南亚、欧洲和中国有大量业务；</li><li>处理其和Anchor Equity Partners分别投资达发科技股份有限公司的事宜。达发科技是一家全球领先的通信解决方案无晶圆厂集成电路设计公司，其总部位于台湾，由联发科技股份有限公司（台交所代码：2454）持有多数股权并控制；</li><li>处理其与中信股份有限公司和中信资本控股组成的联合投资团以20.8亿美元收购麦当劳中国内地和香港业务的事宜，以及关于有效期20年的特许经营主协议的谈判（是麦当劳在全球规模最大的特许经营权）；</li><li>处理其针对精锐教育集团（纳斯达克代码：ONE）的1.5亿美元投资；</li><li>处理其对中国内衣零售集团内外集团的上市前投资；以及</li><li>处理其针对中国领先的售货机经营商北京友宝科斯科贸有限公司的人民币5.3亿元投资。</li></ul></li><li>代表大钲资本处理其针对全球纺织技术公司NTX Group的1.5亿美元上市前投资。</li><li>代表中国国际金融股份有限公司处理其对一家汽车金融公司的上市前可转换债券投资以及此后的重组和诉讼事宜。</li><li>代表清湖资本集团及其投资组合公司奇耐亚太处理其以4.7亿美元对深圳证券交易所上市公司山东鲁阳节能材料股份有限公司（深交所代码：002088）的部分要约收购。奇耐亚太是全球最大的特种材料平台之一。</li><li>代表Coatue Management处理其对Niutron Technologies、AI Rudder Technologies、Rox (Cay) Holdings Ltd的投资，及其对叮咚买菜（纽交所代码：DDL）的7亿美元上市前投资。</li><li>代表KKR公司处理其以6.45亿美元将MMI Holdings公司出售给一个中国财团，以及其后为重获控股权进行的重组事宜。</li></ul><h5>跨国并购/上市公司并购交易 </h5><ul><li>代表香港上市的中国眼科制药平台欧康维视生物医药(港交所代码：01477) <ul><li>处理其收购全球眼科护理领域的领导者爱尔康公司价值 12.8 亿港元（约 1.65 亿美元）重大资产的事宜。交易涉及资产收购，以及全球许可、过渡期服务、生产和供应安排等，是欧康维视的一项非常重大交易。</li><li>处理其对美国制药公司Alimera Sciences, Inc.（纳斯达克: ALIM）进行PIPE投资的事宜。</li></ul></li><li>代表欧康维视生物（港交所代码：1477）处理其对美国制药公司Alimera Sciences, Inc.（纳斯达克: ALIM）进行PIPE投资的事宜。</li><li>代表冬海集团（纽交所代码：SE）处理其收购总部位于温哥华的知名独立游戏开发公司Phoenix Labs。</li><li>代表中星微电子有限公司（纳斯达克代码：VIMC）处理其私有化交易。</li><li>代表微步集团 (Webull Corporation)处理其三轮股权融资和上市前融资事宜，共筹集超过4.6亿美元。</li></ul>

Rongjing Zhao

Partner

饶宇律师的主要执业领域是合规、监管、制裁、出口管制和白领犯罪事宜，以及与《反海外腐败法》（FCPA）和其他反贿赂法相关的调查事宜。饶律师曾为金融、医疗保健、科技、电讯、加密货币等各行业的跨国公司提供法律意见，也曾代表美国、中国、日本及欧洲的企业处理各类FCPA及其他内部调查事宜，其中涉及商业贿赂、欺诈、数据隐私、挪用公款和违反信托义务的事宜。饶律师在代表跨国医药公司和医疗器械公司开展敏感的调查和设计系统性补救方案方面拥有丰富的经验。饶律师曾协助美国和欧洲领先的医疗保健公司、技术公司、投资组合公司和咨询公司处理亚太地区的一些最敏感和最具影响力的调查，包括涉及监管调查、合规监督、主动披露和在美国司法部（DOJ）进行谈判的事宜。 饶律师还协助银行、投资基金以及其他金融机构管理与制裁有关的风险。此外，饶律师曾在各类证券集体诉讼、监管机构调查及平行诉讼中，为多家纽约证券交易所上市公司进行辩护。他还针对美国刑事和民事诉讼（包括证券集体诉讼、监管调查以及与电信欺诈、内幕交易、经济间谍和盗取知识产权有关的刑事诉讼）为中国大陆、香港地区和新加坡的个人客户进行辩护。在加入美富前，饶律师曾任职于加州帕洛阿尔托某领先的国际律师事务所，就职期间，他曾代表多家领先技术公司处理内部调查和商业诉讼事宜。饶律师毕业于华盛顿大学圣路易斯分校，以优等成绩获得法律博士学位。在就读法学院期间，他曾担任密苏里州联邦法官的外派实习生，期间曾草拟多份意见书。在就读法学院前，他曾在一家国际知名会计师事务所担任资深并购顾问。饶律师精通英语及普通话。<h4>具有代表性的项目</h4><h5>内部和政府调查 </h5><ul><li>代表一家位于美国的世界领先医药公司处理与其在中国、韩国以及欧洲、中东和非洲地区的运营相关的内部调查和补救项目。</li><li>代表一家位于美国的《财富500强》医疗保健公司处理与其在中国的运营相关的各项内部调查事宜，其中涉及反贿赂、挪用公款、数据隐私和会计欺诈等问题。</li><li>代表一家领先的中国通讯科技公司处理与其在亚洲、南美州和非洲的运营相关的若干FCPA内部调查事宜；曾受聘参与公司与美国司法部之间的和解磋商。</li><li>代表一家位于美国的世界领先专业服务公司处理与其在中国的运营相关的多项内部反贿赂调查事宜。</li><li>代表一家领先的中国机构投资者处理在美国多个州进行的若干商业欺诈调查事宜，以及在特拉华州衡平法法院进行的案值达数十亿美元的平行民事审讯事宜。</li><li>代表一家在纳斯达克证券交易所上市的欧洲医疗保险公司处理针对其在中国的运营实施的六个月合规补救项目。</li><li>代表一家位于加州的世界领先通讯公司处理多项技术出口管制与数据隐私调查事宜，协助响应美国司法部及大陪审团的多项传召出庭令。</li><li>代表一家领先的美国农业公司处理与其中国子公司有关的若干内部调查事宜以及相关商业欺诈问题。</li><li>代表一家欧洲跨国医疗器械生产商处理FCPA内部调查事宜。</li><li>代表一家位于欧洲的在纳斯达克证券交易所上市的医疗器械公司处理与其在中国的运营有关的若干内部调查和反贿赂补救事宜。</li><li>代表一家领先的美国财富管理公司响应美国司法部根据《商品交易法》进行的若干调查事宜。</li><li>代表一家在纽约交易所上市的中国区块链公司处理若干商业欺诈调查及相关证券集体诉讼事宜，并为客户的董事会和高级管理人员提供关于美国证券法的合规事务培训。</li></ul><h5>制裁和出口管制 </h5><ul><li>代表一家美国尖端技术公司处理内部调查，涉及其在中国的运营违反出口规定的指控。</li><li>代表一家大型中国银行的香港子公司处理各种商业制裁事宜，包括涉及美国针对俄罗斯、中国大陆、香港特别行政区、伊朗和朝鲜的制裁制度事宜。</li><li>代表一家总部位于亚洲的大型跨国电信服务提供商处理出口管制和商业制裁事宜。</li><li>代表一家《财富》500强中国银行处理有关其香港的运营的各种美国制裁相关事宜。</li><li>代表一家大型中国银行的香港子公司建立制裁合规计划，包括制裁监测工具。</li><li>代表一家中国领先保险公司的海外投资部门处理美国针对俄罗斯、中国大陆和香港特别行政区的制裁制度下的各种事宜。</li><li>代表一家在中国拥有广泛运营的欧洲大型银行评估制裁和出口管制风险并建立制裁合规计划。</li><li>代表一家领先的中国主权财富基金处理由美国发起并针对俄罗斯和中国的制裁相关事宜。</li></ul><h5>诉讼和仲裁</h5><ul><li>代表美国一家大型线上零售平台处理在美国仲裁协会（AAA）进行的一系列有关劳动、就业和零工经济纠纷的仲裁事宜。</li><li>代表一家中国资产管理公司及其美国子公司处理在旧金山高等法院进行的股东纠纷诉讼。</li><li>代表一家中国大型保险集团公司及其美国子公司处理在美国特拉华州衡平法院审理的一项金额达40亿美元的商业合同纠纷，在特拉华州最高法院进行的上诉，以及同时在加州多个州法院进行的反欺诈调查事宜。</li><li>代表一家在纽约证券交易所上市的中国区块链公司处理在美国新泽西州地区法院进行的证券集体诉讼，以及同时进行的内部调查。</li><li>代表加拿大一家大型运输集团公司处理在美国伊利诺伊州中区地方法院进行的合同纠纷。</li></ul>

Derik’s practice primarily focuses on compliance, regulatory, sanctions, export control, and white-collar matters, as well as investigations under the Foreign Corrupt Practices Act (FCPA) and other anti-bribery laws.He has experience advising multinational companies in finance, healthcare, technology, telecommunications, cryptocurrency, and various other industries. Derik represents corporate clients based in the United States, China, Japan, and Europe in various FCPA and other internal investigations, including in matters relating to commercial bribery, fraud, data privacy, embezzlement, and breach of fiduciary duties. He has extensive experience representing multinational pharmaceutical and medical device companies in conducting sensitive investigations and designing systematic remediation programs. Derik has assisted leading healthcare, technology, investment portfolio, and consulting companies based in the United States and Europe in handling some of the most sensitive and impactful investigations in the APAC region, including matters that involve regulatory investigations, compliance monitorships, self-disclosures, and negotiations before the U.S. Department of Justice (DOJ).Derik also assists banks, investment funds, and other financial institutions in managing sanctions-related risks. Additionally, Derik has advised NYSE-listed companies on their defense in securities class actions, regulatory investigations, and parallel lawsuits. Derik also defends individual clients based in Mainland China, Hong Kong, and Singapore in connection with U.S. criminal and civil lawsuits, including securities class actions, regulatory investigations, and criminal lawsuits involving wire fraud, insider trading, economic espionage, and theft of intellectual property.Prior to joining MoFo, Derik worked at a leading international law firm in Palo Alto, California, where he represented various leading technology companies in internal investigations and commercial litigations. He received his J.D. cum laude from Washington University in St. Louis. While in law school, Derik externed for a federal judge in Missouri and drafted multiple opinions. Before law school, Derik was a senior M&A consultant at a world-leading accounting firm.Derik is fluent in English and Mandarin.<h4>Representative Experience</h4><h5>Internal and Government Investigations</h5><ul><li>A world-leading pharmaceutical company based in the United States in various internal investigations and remediation projects concerning its operations in China, South Korea, and EMEA.</li><li>A Fortune 500 healthcare company based in the United States in various internal investigations concerning its operations in China that involve anti-bribery, embezzlement, data privacy, and accounting fraud issues.</li><li>A leading Chinese communication technology company in certain FCPA internal investigations concerning its operations in Asia, South America, and Africa; engaged in settlement negotiations with DOJ.</li><li>A world-leading professional service firm based in the United States in multiple internal anti-bribery investigations concerning its operations in China.</li><li>A leading Chinese institutional investor in certain business fraud investigations in various states in the United States and a parallel multibillion-dollar civil trial before the Delaware Court of Chancery.</li><li>A Europe-based healthcare company listed on the NASDAQ in a six-month compliance remediation project for its operations in China.</li><li>A world-leading communications company based in California in certain technology export control and data privacy investigations in response to various DOJ and grand jury subpoenas.</li><li>A leading U.S. agricultural company in certain internal investigations concerning its subsidiary in China and related commercial fraud issues.</li><li>A multinational European medical device manufacturer in certain FCPA internal investigations.</li><li>A NASDAQ-listed medical device manufacturer based in Europe in certain internal investigations and anti-bribery remediation matters concerning its operations in China.</li><li>A leading U.S. wealth management company in response to certain DOJ investigations under the Commodity Exchange Act.</li><li>A Chinese blockchain company listed on the New York Stock Exchange in certain commercial fraud investigations and a related securities class action; provided compliance training on U.S. securities laws to the client’s board of directors and senior executives.</li></ul><h5>Sanctions and Export Controls</h5><ul><li>A cutting-edge U.S. technology company in an internal investigation concerning alleged export violations relating to its operations in China.</li><li>A large Chinese bank’s subsidiary in Hong Kong in various commercial sanctions matters, including matters that involve U.S. sanctions regimes relating to Russia, Mainland China, Hong Kong SAR, Iran, and North Korea.</li><li>A large multinational telecommunication service provider headquartered in Asia in export control and commercial sanctions matters.</li><li>A Fortune 500 Chinese bank in various U.S. sanctions-related matters concerning its operations in Hong Kong.</li><li>A large Chinese bank’s subsidiary in Hong Kong in establishing a sanctions compliance program, including sanctions monitoring tools.</li><li>A leading Chinese insurance company’s overseas investment function in handling various matters under the U.S. sanctions regimes relating to Russia, Mainland China, and Hong Kong SAR.</li><li>A large Europe-based bank with extensive operations in China in assessing sanctions and export control risks and establishing a sanctions compliance program.</li><li>A leading Chinese sovereign wealth fund in certain matters concerning U.S.-initiated sanctions against Russia and China.</li></ul><h5>Litigation and Arbitration</h5><ul><li>A major U.S. online retail platform in a series of arbitrations concerning labor/employment and gig economy disputes before the American Arbitration Association (AAA).</li><li>A Chinese asset management firm and its U.S. subsidiaries in certain shareholder dispute lawsuits before the San Francisco Superior Court.</li><li>A major Chinese insurance group company and its U.S. subsidiaries in a US$4 billion contract dispute trial before the Delaware Court of Chancery, the appeal before the Delaware Supreme Court, and parallel anti-fraud investigation matters before various California state courts.</li><li>A Chinese block chain company listed on the New York Stock Exchange in a securities class action before the United States District Court for the District of New Jersey, and a parallel internal investigation.</li><li>A major Canadian transportation group company in a contract dispute before the United States District Court for the Central District of Illinois.</li></ul>

Derik Rao

Sarah frequently advises clients in strategic corporate-commercial and technology transactions in the sectors of life science and TMT, including in-licensing, out-licensing, collaboration, and development agreements in various types of traditional and emerging technology offerings, including software-as-a-service, on-premises software, and technology services and maintenance, and in a broad range of pharmaceutical products and technologies, including biopharmaceutical drugs, immunotherapies, antibody therapeutics, and vaccines.Before joining MoFo, Sarah was an associate in the Shanghai office of an international law firm. She is fluent in English and Mandarin.<h4>Representative Experience</h4><ul><li>A leading healthcare investment firm’s portfolio company in its series of license-in and license-out deals concerning: (i) the development and option agreement and license agreement with a private biotechnological company in the North America for the development of lipid nanoparticles (LNP) formulations for delivery of mRNA and for the commercialization and manufacturing of the protein product and the vaccine product utilizing the LNP technology; and (ii) the licensing-out agreement with a Hong Kong listed company for the development and commercialization of the mRNA technology in Greater China.</li></ul><ul><li>Hangzhou DAC Biotechnology Co., Ltd. on its collaboration and license agreement with Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, for the development and commercialization of antibody drug conjugate (ADC) products.</li><li>Jiangsu Hengrui Medicine Co., Ltd. in its US$165 million exclusive license agreement with Novaliq GmbH, a German pharmaceutical company focusing on ocular therapeutics, to develop, manufacture and commercialize the innovative, water-free drugs NOV03 (perfluorohexyloctane) and CyclASol® for the treatment of dry eye disease in mainland China, Hong Kong, Macau and Taiwan.</li><li>A FinTech firm in the strategic partnership between a pan-Asia retailer and a Hong Kong bank to construct a new customer loyalty and reward program to replace the current co-branded credit card program on the market.</li><li>An automobile retailer that is a subsidiary of a multi-national dealership operator in its ERP software license and support agreement and the service agreement with a European multi-national software corporation, on the subscription of its core software products and technologies.</li></ul>

王家尧律师经常就生命科学以及科技、媒体和电信（TMT）领域战略性的公司商业交易和技术交易向客户提供咨询，包括协助客户编制被许可协议、对外许可协议、协作协议及开发协议，涉及各种传统及新兴技术产品和服务，包括软件即服务（SaaS）、本地部署软件以及技术服务和维护等，还涉及广泛的医药产品和技术，包括生物制药产品、免疫疗法、抗体疗法和疫苗等。在加入美富前，王律师是一家国际律所上海办事处的律师。她精通英语和普通话。<h4>具有代表性的项目 </h4><ul><li>代表某顶级医疗保健投资机构的被投资公司处理涉及下列事宜的系列被许可及对外许可交易：（1）代表某领先的生物医药公司就其与加拿大某生物公司签订开发和选择权协议以及对内许可协议提供法律服务，以开发用于传递mRNA的脂质纳米颗粒（LNP）配方，并对利用LNP技术的蛋白质产品和疫苗产品进行商业化和生产；以及（2）与某香港上市公司签订对外许可协议，以在大中华区对mRNA技术进行开发和商业化。</li></ul><ul><li>代表杭州多禧生物科技有限公司与强生公司旗下杨森制药生物科技公司达成合作和许可协议，用于抗体偶联药物（ADC药物）的开发与商业化。</li></ul><ul><li> 代表江苏恒瑞医药股份有限公司处理其与Novaliq GmbH（一家专注于眼部治疗的德国制药公司）的1.65亿美元独家许可协议，对创新型无水药物NOV03（全氟己内酯）和CyclASol®进行开发、生产和商业化，用于在中国大陆、香港、澳门和台湾地区治疗干眼症。</li></ul><ul><li> 代表一家金融科技公司处理其所属的泛亚洲零售商与一家香港银行的策略性合伙，订立新的老顾客奖励计划来取代目前市场上的联合品牌信用卡计划。</li></ul><ul><li> 代表一家国际汽车经销集团旗下的汽车零售商，处理其ERP软件许可证和支持协议及与一家欧洲国际软件公司的服务协议，以订阅模式付费使用其核心软件产品和技术。</li></ul>

ChinaBio® Partnering Forum: Top Five Risks and Opportunities to Watch in China Life Sciences in 2025

23 Apr 2025 1:30 PM - 2:30 PM HKT