Sam Fazeli

going by the HS Bio Index, is up 70% in the past 12 months versus 5% for the US XBI, which is the S&P 500 Biotech ETF Index.

What's been, do you think, behind this?

I do remember about this time last year I was in China.

We had an event in our Hong Kong office and there wasn't as much positivity.

I mean, it was there, but not as much.

And people were

nagging about two or three months, years of VCs have pulled back a little bit, etc.

So it sounded the same as I'm hearing in US, Europe.

But obviously, then everything changed and moved up.

So what's been driving that from your perspective?

I know you're not necessarily a

you know, a banking space, but at least you know the industry.

And then as you answer that, please tell us a little bit about what you think is the most, what are the most misunderstood aspects of China biotech pharma?

Because the Western friends of mine love to question the quality of data, et cetera, et cetera.

Maybe you can set that straight.

And so the last thing I wanted to ask you, what are the key advantages of start?

I mean, phase threes at the end of the day and bridging studies have to be done in their country that or at least, you know, if you want if you wanted a U.S.

product wanting to come to China, they have to show that they work in Chinese population because of the obvious differences in genetics and environment, etc.,

But in the earlier stages, would you say, I don't want to put words in your mouth, what do you think is one of the key advantages of Fazelli Incorporated wants to bring his drug to development into phase one?

What is the advantage that China offers specifically?