Today, Ascletis is one of many Chinese biotech start-ups licensing drugs from big multinational pharmaceutical companies for use on the mainland.
But if its founder, Wu Jinzi, has his way at some point in the (near) future, Ascletis, which is based in Alibaba’s home town of Hangzhou and was founded in 2013, will develop its own drugs to treat hepatitis and other liver diseases including liver cancer.
“We have already had some success,” says Mr Wu, sitting in a lounge in Hong Kong’s Murray Hotel. “But that isn’t enough. I want to develop treatments that are best in class — not just in China but globally.”
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