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Linda Pullan at Global Biotech CEO Summit
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Yet China’s speed creates its own competitive pressures. Linda Pullan, founder of Pullan Consulting, described the dynamic: “The doubling of Chinese drugs in development has meant huge numbers of fast followers, competing in all clinically proven development paths. For the China market, this means competition on price for patients. But as market share drops with order of entry, if you are likely later than third, you need to be in a different class with more innovation. And long before approval, the noise from many competitors means better pk [pharmacokinetics] or potency is unlikely to be compelling to partners. New biology or otherwise unachievable results will be needed for VCs and partners.”
Pullan’s observation about fast followers captures the double-edged nature of rapid development cycles, which leads crowded spaces to form quickly, resulting in increased pressure to deliver genuine innovation in order to stand out.
Press Release on Analysis Opportunities in Asia for Biotech Showcase 2026
Pullan Consulting Issues Brief on Biopharma Partnering Opportunities in Asia
Las Vegas, NV — January 2, 2026 — Pullan Consulting, a boutique business‑development advisory led by Linda M. Pullan, Ph.D., today released a strategic briefing highlighting partnering and licensing opportunities across Asia’s leading life‑science hubs, including China, Japan, Korea, Singapore, and Australia. Drawing on decades of deal experience and recent market observations, the firm outlines where value is being created, the practical considerations for cross‑border transactions, and how sponsors and investors can position programs for success.
Key takeaways
- China has the biggest numbers in Asia for venture rounds and out-licensing. The number of venture rounds is almost 75% of the number in the US, but the total dollars for venture rounds are less than one quarter of the U.S total. In out-licensing, China has half the number of deals compared to the US, but the dollar total is larger, reflecting the difference in value of global ex-China deals versus global ex-US deals. For in-licensing, China has fewer deals than does Japan and lower values. Fast trial recruitment in large urban centers make China an attractive collaborator for clinical development, provided sponsors plan for a U.S. patient enrollment strategy for FDA filings.
- Japan and Korea offer differentiated strengths. Japan’s companies are increasingly global and often pursue in‑licensing to complement domestic portfolios; Korea’s biologics capabilities (notably in monoclonal antibodies and biosimilars) create attractive partnering opportunities, and in-licensing is active even though the domestic market size is smaller.
- Singapore is a strategic hub for cross‑border deals and regional coordination. Its regulatory clarity, science and investor ecosystem, and geopolitical positioning make it a preferred base for regional operations and partnerships.
- Australia provides a pragmatic pathway for clinical validation. Its tax breaks, regulatory environment and acceptance by global regulators make it a useful jurisdiction for trials that can accelerate development timelines for programs originating outside Asia.
- Regulatory, IP, and government policy differences matter. Local study and manufacturing requirements, IP protections, and pricing/regulatory trends vary widely across the region and must be factored into deal structures, valuation, and commercialization planning.
- Therapeutic and technological trends are shaping deal flow. AI‑enabled discovery, aging‑related indications, cell and gene therapies, CNS innovations, and obesity therapeutics are among the areas driving cross‑border interest and licensing activity.
Pullan Consulting perspective “Asia is not a single market — it is a mosaic of opportunity,” said Linda M. Pullan, Ph.D., founder of Pullan Consulting. “Successful partnering requires a tailored approach: matching asset type and development stage to the right country, structuring deals that reflect local regulatory and commercial realities, and building relationships that bridge cultural and operational differences. For many U.S. and European sponsors, Asia offers both speed and scale — but only when deals are designed with those regional nuances in mind. For everyone, Asia companies can be potential competitors or collaborators.”
About Pullan Consulting Pullan Consulting (www.pullanconsulting.com) is a business‑development advisory specializing in partnering, licensing, and strategic transactions across the biopharma sector. Led by Linda M. Pullan, Ph.D., the firm has more than 35 years of pharmaceutical and biotech experience in drug development, valuation, negotiation, and deal execution. Services include out‑licensing representation, in‑licensing opportunity sourcing, valuation and financial modeling, partnering presentation design, and negotiation support. Pullan Consulting has supported hundreds of transactions across the U.S., China, Japan, Europe, and Latin America for clients in all regions, and publishes the monthly newsletter Pullan’s Pieces.
Representative experience
- Negotiated and advised on deals from discovery through Phase III, including licenses with upfronts up to $150M and numerous milestone‑based structures.
- Regular speaker and instructor at BIO, Biotech Showcase, BIO-Europe, and other industry conferences; author of Pullan’s Pieces with thousands of subscribers.
- Track record of cross‑border transactions and advisory roles spanning small biotech to larger strategic partners.
Contact
Linda M. Pullan, Ph.D.
Pullan Consulting
805‑558‑0361
linda@pullanconsulting.com
Greg Tiberend
Tiberend Strategic Advisors
gtiberend@tiberend.com
212-375-2689
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