EsoBiotec (often styled EsoBiotec/Esobiotec in media) and ProfoundBio both used China as a critical pillar in their R&D and clinical strategies. EsoBiotec relied on a focused China trial and manufacturing collaboration to validate a single in vivo CAR‑T program, whereas ProfoundBio built a broader U.S.–China hybrid organization with an R&D base in Suzhou that underpinned a multi‑asset ADC portfolio.
EsoBiotec’s path to acquisition
- EsoBiotec developed an in vivo BCMA‑targeted CAR‑T for multiple myeloma and, with very limited venture funding (about €22 million), chose to run an investigator‑initiated trial (IIT) in China to rapidly generate early human data in a small number of patients.
- The company also formed manufacturing collaborations in China that helped it move faster and more cost‑effectively than peers that had raised far more capital.
- The strength of the China‑generated clinical data for its in vivo CAR‑T attracted AstraZeneca, which agreed to acquire EsoBiotec for up to about USD 1 billion (USD 425 million upfront plus up to USD 575 million in milestones), with EsoBiotec remaining a subsidiary and keeping operations in Belgium.
ProfoundBio’s path to acquisition
- ProfoundBio, founded in 2018, positioned itself as a clinical‑stage oncology company developing next‑generation antibody–drug conjugates (ADCs), ultimately advancing three clinical‑stage candidates including rinatabart sesutecan (Rina‑S).
- It operated as a U.S.–China hybrid: headquartered in Seattle but with a substantial R&D facility in Suzhou, China, and backing from cross‑border investors such as OrbiMed and Lilly Asia Ventures.
- Genmab agreed to acquire ProfoundBio in an all‑cash deal of USD 1.8 billion, seeking both the clinical‑stage ADC assets and the underlying ADC technology platforms that had been developed across its U.S. and China operations.
In brief, EsoBiotec treated China as a concentrated clinical and manufacturing accelerator to generate pivotal proof‑of‑concept data for one flagship asset, while ProfoundBio embedded China into its organizational fabric as a central R&D node that continually generated data and technology across a diversified ADC pipeline.
At UHY, we can support multiple paths to success, including the above.