Shanghai, May 21, 2026—The J.P. Morgan Global China Summit 2026 convened in Shanghai from May 21 to 22. Dr. Lei Jin, CEO of Changchun High-Tech, Founder, CEO and Chief Scientist of GenSci, was invited to attend. He participated in the roundtable forum titled "Transformation of China Pharma: All in for Innovation and Globalization", where he engaged in in-depth discussions with peers from leading companies such as Hengrui Pharma on hot-button topics including differentiated pipeline strategies, AI-powered R&D, and the debate over "selling seedlings".

Innovation-Driven: Differentiated Pipeline and Comprehensive AI Empowerment

After nearly three decades of continuous evolution, GenSci has built the only complete product portfolio in the growth hormone field in China, encompassing powder for injection, aqueous injection, and long-acting aqueous injection. Building on its proven success in growth hormone innovation and commercialization, and fueled by high-intensity R&D investment that has grown for 12 consecutive years, the Company has successfully expanded into therapeutic areas including gout, assisted reproduction, and allergies. Moreover, GenSci has strategically advanced the development of its next mega-blockbuster—China’s first fully human anti-IL-1β monoclonal antibody for the treatment of acute gouty arthritis. This product holds the promise of becoming "the next growth hormone", unlocking a market opportunity valued at tens of billions of dollars globally.

Addressing the strategy behind its innovation-driven and differentiated pipeline, Dr. Lei Jin noted at the forum that true innovative drugs must be built on pipeline differentiation and a unique competitive pathway. As one of China’s earliest pioneers in innovative drug R&D, GenSci initiated its globally leading development of long-acting PEGylated growth hormone as early as 2002. After 12 years of rigorous research, the Company launched the world’s first long-acting growth hormone in 2014, outpacing multinational giants by a full seven years. With this achievement, GenSci became the first in China to surpass the USD 1 billion sales milestone for a single innovative molecule. Carrying this innovation DNA forward, Dr. Lei Jin emphasized that by pursuing novel targets and leveraging deeper, long-term expertise, the Company gains more profound insights into specific disease areas, enabling precise portfolio planning. With the goal of meeting genuine patient needs, GenSci is carving out a differentiated innovation space—exemplified by its pipeline programs targeting pre-eclampsia and neonatal bronchopulmonary dysplasia, which address real, urgent clinical needs in these underserved therapeutic fields.

Dr. Lei Jin further highlighted that the development of first-in-class and best-in-class therapies requires greater resources and patience. Citing the example of the once-monthly growth hormone formulation, he noted that it took five years of dedicated research to achieve breakthroughs in long-acting sustained-release technology, ultimately meeting the market’s real-world demands for both efficacy and safety. He revealed that the Company is entering a harvest period this year, with pivotal data readouts for multiple innovative molecules already achieved in just six months of last year, positioning GenSci to sustain its leadership in niche therapeutic segments.

On the trending topic of AI, Dr. Lei Jin emphasized that GenSci is deeply integrating AI across the full R&D cycle to lay the foundation for differentiated innovative molecules. He shared a compelling case: on the Company’s EnLys? Endolysin Platform, AI-driven deep empowerment has enabled the design of a series of highly innovative lysins that effectively overcome drug resistance, exhibit potent bactericidal activity, and carry an extremely low probability of inducing further resistance. Notably, GenSci142, a product candidate for bacterial vaginosis (BV), has already entered Phase I clinical trials, standing as a tangible testament to AI-assisted molecular design and representing the first innovative drug program approved under the NMPA’s "30-Day Pathway". Through the systematic deployment of AI capabilities, GenSci has achieved a 50% reduction in early discovery cycle time, a one-third decrease in process optimization costs, and a 30% decline in management costs over three years. Dr. Lei Jin underscored his conviction that AI is set to overturn the traditional logic of pharmaceutical development. In embracing this new era, GenSci will maintain an open mindset, actively pursuing cross-sector collaborations with AI technology companies and boldly adapting to the transformative changes of the times.

Setting Sail Globally: The USD 1.365 Billion Milestone and the "Selling Seedlings" Debate

In 2025, the total value of out-licensing deals for China’s innovative drugs surpassed USD 100 billion, with over 100 transactions recorded. The collaboration model has evolved from straightforward licensing to deep, synergistic partnerships featuring co-development, risk-sharing, and revenue-sharing.

In December 2025, GenSci entered into an exclusive license agreement with Yarrow Bioscience for GenSci098, with total milestone payments reaching USD 1.365 billion—a powerful endorsement of the Company’s innovative capabilities by the international market. This landmark deal, GenSci’s first out-licensing of a pipeline asset, serves as compelling proof that the Company’s innovation model is globally competitive.

Among its more than 40 core clinical pipeline programs, GenSci currently has multiple assets with first-in-class or best-in-class potential. The Company has adopted a co-development strategy, welcoming experienced partners with an open and collaborative mindset to jointly explore the potential of its innovative molecules. On the hot-button industry topic of "selling seedlings", Dr. Lei Jin offered his distinctive perspective.

Dr. Lei Jin contended that commercial success cannot rest on a single product but must be built on a far-sighted, long-term strategy. The essence of BD collaboration is to maximize asset value. By bringing in more experienced partners to share R&D outcomes and fully tap into the product’s potential and market value, resource allocation efficiency is optimized to the greatest extent. Such strategic partnerships, he argued, should not be simplistically dismissed as "selling seedlings". In terms of specific development approaches, Dr. Lei Jin stressed the importance of maintaining a sharp focus on the molecule, exercising meticulous management, and identifying the right partners to jointly recognize and amplify a product’s core value, thereby achieving true innovative breakthroughs.

Global Footprint: Risk Diversification and Long-Term Financial Resilience

Addressing the vast opportunities in the international market, Dr. Lei Jin articulated that GenSci will anchor its future strategy around a global market footprint, deliberately avoiding over-reliance on any single market and thereby securing broader horizons for the Company’s development. In response to industry concerns regarding geopolitical issues, he stressed that a well-diversified presence across multiple markets will effectively mitigate the risks associated with single-market dependency. At the same time, he reaffirmed the unique nature of the pharmaceutical industry relative to other sectors, expressing his steadfast conviction that valuable products—innovative therapies that genuinely serve patient needs—will continue to transcend borders and command expansive market space. Finally, Dr. Lei Jin pointed out that from a first-principles perspective, whether it is geopolitics or other variables, such factors represent risk from a business standpoint, and companies must maintain adequate financial reserves to withstand uncertainty. GenSci will adopt a prudent financial strategy to navigate potential risks, formulate flexible development pathways, and collaborate with partners in a win-win spirit to create mutually beneficial outcomes and foster a shared, thriving ecosystem of cooperation.