Chinese companies now run seven of the eight IL-4Rα assets in Phase III — and the eighth is licensed to China too, with MG-K10’s latest Phase III data (94.3% EASI-75 at week 52) showing exactly why this comp set can’t be ignored. The unmet need is real. Even with three approved biologics, roughly half of SLE patients hit a meaningful composite response at one year, and sustained remission is rare.