Jan van de Winkel, CEO of one of Europe’s leading biotech companies, Genmab, highlighted the need for Western pharma companies to embrace Chinese biotech innovation, despite growing anti-Chinese sentiment in the US. Following Genmab’s acquisition of US-Chinese drug maker ProfoundBio, van de Winkel noted the rapid growth of Chinese biotech's supported by government funding, which has already attracted the attention of major companies - including AstraZeneca and GSK - who have also made significant deals in China.

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