Dr. Xingli Wang

returnees repatriate from U.S.

Most of this, if you're looking at the biotech of the startup from China,

either came returned from U.S.

Big Pharma or returned from U.S.

as a graduate student.

And most of these technologies and talents are what more or less had gained the U.S.

learnings, U.S.

experiences, which is a reason why their standards are similar to what U.S.

standards are.

And if you look at any industry development in the early time, you may talk about the quality is an issue because when they are learning.

But these people are often veterans, mature drug developers.

And when you come to drug development, you know your money, your dollar in it.

It's not like when you only do academic research, your outcome is publications.

This is real silver and gold.

So nobody in general term, I'm not saying maybe few exceptions, will compromise their quality.

So I'm currently very trusting.

Obviously, you need to do very nice due diligence.

And the last two license deals, I experienced how US and UK do their due diligence.

and even long due diligence, they still pass their scrutiny, which means that most of the Chinese, you know, the biotech companies, the current term, you would in general trust their quality.

But once you come to clinical trial, again, nobody at this stage, or I would say nobody, very majority of the clinical trial trialists are try their best, but some of them, their experience is not there yet.