Thanks for this outstanding summary and post. I have my suspicions however, having dealt with chinese companies for some time...
1. Bayer is a HUGE biopharma. They did not shift the company entirely to women health nor esg. It is a monster, they do stuff from phara to agri. They know what the Androgenetic Alopecia market is worth.
2. They chose to license it to a tiny startup in series A ... in China.
I just looked up the company, it seems like the founder has given the CEO role to Henri Doods who was with a european pharma before. Was searching that guy, not much on him, but he looks legit.
By the way are they doing clinical trials in China? Too bad they did not try Japan either... I wonder why Australia..
Also I am not sure I understand why knowing they were approved for phase 2 in the US, they decided to focus first on phase 1 in Australia...
There is something we are missing here..
(For those who never watched the documentary "The China Hustle" I highly recommend it .. )