☕️ Good morning, friends,

It’s 35 degrees in Shanghai and our office dog Einstein (a blond Labrador born in Chengdu) is spending the entire day sitting in front of the open fridge.

Not exactly energy efficient — but the US, Russia, and China have just launched a race to see who can build the first nuclear power reactor on the moon.

Einstein is keeping his non-existent fingers crossed for all three!

P.S. The Amazon vouchers are flying out the door. Thanks so much for all your referrals! 👇🏻

BENCHMARKS

NUMBER OF THE DAY

645 million USD

U.S. company Expedition Therapeutics has secured the global rights to Fosun Pharma’s experimental lung drug XH-S004 for this amount.

💊 Blockbuster potential: $17 million upfront, up to $103 million in development milestones, and $525 million tied to commercial success; Shanghai-based Fosun Pharma Industrial retains China-only rights.

🫁 Unmet medical need: The DPP-1 inhibitor targets chronic lung diseases such as COPD and bronchiectasis. There is currently no approved therapy worldwide with this mechanism.

Watch: This deal shows how Chinese pharma innovation is gaining momentum—global partnerships are becoming key to worldwide commercialization of breakthrough drugs.

TOP BIT

🧠 AI And Returnees Drive China’s Cancer Offensive

China brings back top scientist: Dr. Feng Gensheng, internationally known for the discovery of the SHP2 enzyme, is taking over as head of the cancer research institute at the Shenzhen Bay Laboratory.

At the same time, China is setting new benchmarks in early detection, treatment, and international cooperation — all at significantly lower costs.

The Details

👨‍🔬 Homecoming: Dr. Feng Gensheng returned to China after around 40 years at elite U.S. universities and is now…