Chinese biotech companies have reported a rise in overseas deals during the first quarter of 2025, according to a report from mainland consultancy DrugTimes.

The report indicates that Chinese firms completed 33 transactions with international healthcare companies, totaling US$36.2 billion.

This marks an 18% increase from 28 agreements in the same period last year.

The largest transaction involved Suzhou-based GeneQuantum, Nasdaq-listed Biohaven, and South Korean firm AimedBio.

Another significant agreement was a US$4.7 billion collaboration between Hong Kong-listed Harbour BioMed and AstraZeneca, aimed at developing next-generation antibodies for immunology and oncology.