China rushes to develop Moderna-style cancer vaccines amid market frenzy

A group of Hong Kong-listed biotechnology companies have seen their stock prices surge in the wake of Moderna’s breakthrough cancer vaccine trial, as the Chinese companies push forward with similar vaccine programmes. The companies – from Jiangsu Hengrui Pharmaceuticals to Li Ka-shing-backed CK Life Sciences – already have a slew of cancer vaccines in development, which could have a large potential market given that nearly 2.6 million people die from cancer in China alone each year. “China is...