LLY China meeting takeaways - JEF China HC Tour Series

研报英文原文证据摘录

LLY China meeting takeaways - JEF China HC Tour Series

China (PRC) | Healthcare EquityMayResearch17, 2026

LLY China meeting takeaways - JEF China HC

Tour Series

LLY China mgmt shared its BD priorities, emphasizing development

readiness beyond science alone, with data quality, CMC, and regulatory

pathways as key. LT alignment of partnerships matters, too. China

data is increasingly relevant globally, despite some limitations. Emerging

modalities (e.g., genetic medicines and in-vivo CAR-T) remain in focus,

supported by China’s strong execution and efficiency.

We recently hosted a meeting with Eli Lilly China in Shanghai during our Grand China healthcare

tour from May 11 to May 15. Full transcript share below.

Participants

Ryan Wang, Vice President, Head of Lilly China Innovation and Partnerships

Yang Liu, Executive Director, Head of Lilly Gateway Labs China

Zhaoying Xu, Executive Director, Lilly Ventures

Transcript

Corporate BD focuses on emerging acquisition, 5 Lilly core TAs, CMH (diabetes, obesity,

cardiometabolic diseases), immunology, oncology, neuroscience, platforms incl. genetic

medicines focusing more on rare diseases and on emerging modalities.

Catalyze360, incl three major businesses: Lilly Ventures, Lilly Gateway Labs (innovation

incubator) with first 2 ex-US sites in Shanghai, and Lilly ExploR&D (using internal R&D to provide

a broad suite of R&D expertise to incubate emerging science and capture scientific advances).

Q: Interaction between venture LAV and corporate arms

A: LAV became independent over a decade ago. Lilly Ventures invests in earlier-platform

innovations through FOF and direct investment. BD pillar also has equity investment. In certain

deals, deal terms are not just assets but also equity investments.