GenScript Biotech, a Chinese biotech company is emerging as one of the biggest stock gainers in the field of CAR-T therapy.
Among the first Chinese developers of so-called CAR-T cancer therapies, GenScript’s shares have risen more than sixfold since June, when it reported positive results from early studies in 35 patients with a type of blood cancer. Now the company expects the go ahead from Chinese regulators to start formal human trials as early as the second quarter. The drug could be ready for sale by the end of 2020 if not sooner stated GenScript’s official.
Novartis AG and Gilead Sciences have already hit U.S. and European markets with CAR-T therapies, which involve extracting a patient’s immune system cells and modifying them to attack cancers. A string of Chinese firms are jumping in, highlighting the growing ambitions of the country’s pharmaceutical industry, which has long focused on cheap generic copies of branded drugs.
While the entire field of CAR-T therapy is very new, GenScript’s technology is similar to others in the global field. No Chinese biotechs have won approval as yet for CAR-Ts. Nonetheless they’re seeing a surge of money flowing into the industry as the government encourages the development of new drugs.