Chinese biotech companies have made enormous progress in recent years, but they still need one thing: the United States.
Credit: NASDAQ
This summer, a young Chinese biotech company made a big purchase. BeiGene, which is headquartered in both Beijing and Cambridge, announced its plans for a new 42-acre research and development campus in Hopewell, NJ, about seven miles west of Princeton University. The company, which specializes in anti-cancer treatments and already has a presence in Ridgefield Park, NJ, said the new space would allow it to recruit hundreds of new hires from the area’s “deep talent pool” as well as sharpen its focus on the U.S. market.
“BeiGene continues to grow and as a key part of that growth we are making a significant investment in the United States that will expand our current capabilities,” Michael Garvey, global head of technical operations at BeiGene, said in a statement.
Indeed, BeiGene has global ambitions. Since becoming one of the first biotech companies founded in China to be listed on the Nasdaq in April of 2016, it went on to raise $902 million for a dual-listing on the Hon
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