本报记者 许林艳 破解行业难题 "双引擎平台"构筑核心壁垒 抗体新药研发历程漫长且复杂，其成功高度依赖于两大关键环节：一是获得成药性好、高质量的抗体分 子；二是找到精准的模拟疾病发生并进行药效评价的靶点人源化小鼠模型。针对这两大行业痛点，百奥 赛图经过十余年深耕，构建了全球领先的"双引擎平台"体系，向市场证明了其作为平台型Biotech公司的 独特价值。 一方面，百奥赛图利用自主研发的基因编辑技术，打造了基于全人抗体小鼠RenMice®的"千鼠万抗"真 实全人抗体序列库，已针对1000余个潜在可成药靶点构建超过百万条实验级全人抗体序列，为创新药研 发提供丰富且高度确定的源头分子。 平台覆盖单抗、双抗、双抗-ADC、纳米抗体等多类型药物形式，并持续与合作伙伴一起向AOC、ADC 联合策略及体内CAR-T等前沿疗法延伸。截至2025年上半年，该公司累计签署约300项抗体合作协议， 成为全球抗体药物研发的重要赋能者。 另一方面，百奥赛图自2014年起率先构建全球规模领先的靶点人源化小鼠模型库，突破物种差异带来的 研发瓶颈，为双抗、ADC、核酸药物及细胞疗法等多类型药物提供精准的体内验证工具。该公司已开 发数千种基因 ...

国际化生物技术公司百奥赛图(688796.SH)今日(11月28日)启动申购，该股于上交所科创板上市，发行价 每股26.68元(人民币，下同)，发行4750万股新A股，占公司总股本10.63%，料净集资约11.44亿元。公司 以创新技术驱动新药研发，依托"源头抗体分子库 + 靶点人源化小鼠库"双核心平台，加速全球合作伙伴 新靶点、新机制与新疗法的研发进程，推动行业从探索式研发迈向更高确定性的成药时代。 百奥赛图成立于2009年，总部位于北京，在中国(江苏海门、上海)、美国(波士顿、旧金山、圣地亚哥) 及德国海德堡等地设有分支机构，全球扩张能力强，具备重构估值逻辑。截至2025年上半年，公司累计 签署约300项抗体合作协议，成为全球抗体药物研发的重要赋能者。此外，截至6月底，公司已累计获得 195项授权专利，提交496项专利申请。这些底层技术、创新产品和知识产权共同构筑起坚实的护城河， 也为其在国际BD谈判中提供了议价优势。 在持续较高且可控研发投入的同时，公司盈利能力不断增强。2025年上半年营收6.21亿元，同比增长 51.5%，净利润4,800万元，已超过去年全年水平，经营现金流全面转正，展现出强劲的自我 ...

公司简介： 百奥赛图成立于2009年，是一家临床前CRO以及生物技术企业。 截至招股意向书签署日，沈月雷、倪健合计直接或间接控制公司26.8665%表决权，为百奥赛图共 同控股股东、实际控制人。沈月雷与倪健系夫妻关系。 百奥赛图2025年11月20日披露的首次公开发行股票并在科创板上市招股意向书显示，公司拟募集资 金118,504万元，用于药物早期研发服务平台建设项目、抗体药物研发及评价项目、临床前研发项目、 补充流动资金。 百奥赛图2025年11月27日发布的首次公开发行股票并在科创板上市发行公告显示，按本次发行价格 26.68元/股和47,500,000股的新股发行数量计算，若本次发行成功，预计募集资金总额126,730.00万元， 扣除约12,295.46万元（不含税）的发行费用后，预计募集资金净额约114,434.54万元。 （责任编辑：华青剑） 百奥赛图（北京）医药科技股份有限公司 保荐机构（主承销商）：中金公司 发行情况： | 股票代码。 | 688796+ | 股票简称。 | 自奥赛图。 | | --- | --- | --- | --- | | 申购代码。 | 7877960 | 上市地点。 ...

11月28日，有一只新股申购，为科创板的百奥赛图（688796.SH）。招股书显示，该公司是一家以基因 编辑模式动物制备、创新模式动物繁殖与供应、临床前药理药效评价以及抗体药物发现四个技术平台为 一体的企业。2022年，百奥赛图登陆港交所，被誉为"基因编辑第一股"。早在2023年6月，百奥赛图便 向上交所递交了科创板上市申请，但此后推进节奏放缓。 | 拟投入募集资金金额 | | --- | | (17 = ) | | 药物早期研发服务平台建设项目 | 4.54 | 38.28% | | --- | --- | --- | | 抗体药物研发及评价项目 | 3.16 | 26.70% | | 临床前研发项目 | 1.65 | 13.92% | | 补充流动资金 | 2.50 | 21.10% | 技术方面，高效、稳定的基因编辑平台是百奥赛图业务的重要基石。发展至今，百奥赛图熟练掌握了多 种主流的基因编辑技术，这些技术极大地提升了基因编辑效率，突破了以往技术对基因改造序列长度的 限制。凭借高效稳定的技术、成熟的操作流程以及完善的质控体系，截至2025年6月30日，公司累计为 客户完成各类定制化基因编辑项目约5300 ...

Group 1 - The core point of the article is the IPO of Bai'ao Saitou, which is set to open for subscription on November 28, with a listing price of 26.68 yuan per share and a high price-to-earnings ratio of 519.12 times [1] - Bai'ao Saitou plans to issue a total of 47.5 million shares, with an expected online issuance of 7.6 million shares [1] - The company focuses on the research and development of innovative drugs and related technical services [1]

Core Viewpoint - The article discusses the upcoming IPO of Bai'ao Saitou on the Sci-Tech Innovation Board, highlighting its market position, financial performance, and future growth prospects [2][3]. Company Overview - Bai'ao Saitou is one of the first companies in China to enter the gene editing field, establishing itself as a leader in the model organism sector [2]. - The company has partnerships with the top ten global pharmaceutical companies based on projected 2024 revenues [2]. Financial Performance - The total market value of Bai'ao Saitou is 10.66 billion yuan, with an issuance price of 26.68 yuan per share and a high price-to-earnings ratio of 519.12 [2]. - The company reported revenue of 980 million yuan in 2024, reflecting a year-on-year growth of 36.76%, with previous years showing revenues of 717 million yuan in 2023 (+34.28%) and 534 million yuan in 2022 (+50.58%) [3]. Business Segmentation - The company's revenue composition includes: - Antibody development business: 26.23% - Model organism sales: 44.20% - Preclinical pharmacology and efficacy evaluation: 24.97% [2][3]. Fundraising Purpose - The funds raised from the IPO will be directed towards the construction of an early drug research and development service platform, antibody drug development, and to supplement working capital [3].

（文章来源：每日经济新闻） 每经AI快讯，今日有1只新股申购，为科创板的百奥赛图；无新股上市。百奥赛图是一家临床前CRO以 及生物技术企业。 ...

Core Viewpoint - Baiaosaitu (Beijing) Pharmaceutical Technology Co., Ltd. is focused on innovative drug development and aims to enhance its capabilities through an IPO on the Sci-Tech Innovation Board, raising approximately 1.185 billion RMB for various projects [9][10][35]. Company Overview - Baiaosaitu is an innovative preclinical CRO and biotechnology company established in 2009, specializing in gene editing technology and providing various preclinical drug development services [12]. - The company has developed four major technology platforms: gene-edited model animal preparation, innovative model animal breeding and supply, preclinical pharmacology and efficacy evaluation, and antibody drug discovery [7][12]. Business Model and Services - The company addresses two core challenges in antibody drug development: obtaining high-quality antibody molecules and the lack of precise evaluation models [8]. - Baiaosaitu has created a comprehensive human antibody library and a humanized mouse library, enabling the discovery of antibody candidates against over 1,000 potential drug targets [8][16]. - The company has established partnerships with top global pharmaceutical companies, enhancing its credibility and accelerating its international business expansion [8][14]. Financial Overview - The company expects to raise 1.185 billion RMB through its IPO, which will be used for upgrading early drug development service platforms, antibody drug research, and enhancing preclinical research projects [9][35]. - The company's main business revenue has shown a compound annual growth rate of 35.56% over the past three years, with revenues of approximately 533.36 million RMB, 716.40 million RMB, and 980.07 million RMB in recent years [22]. Future Development Plans - The company plans to continue promoting its "Thousand Mice and Ten Thousand Antibodies" initiative, aiming to discover novel antibody candidates for external collaboration or internal development [24]. - Baiaosaitu intends to expand its preclinical product and service offerings, particularly in oncology, autoimmune diseases, cardiovascular, metabolic, and neurological disorders [24][25]. - The company aims to establish extensive partnerships with leading pharmaceutical and biotechnology companies both domestically and internationally [25]. Competitive Advantages - The company possesses leading gene editing technology, a comprehensive range of model animals, and a significant first-mover advantage in antibody development [27]. - The unique "Thousand Mice and Ten Thousand Antibodies" plan provides flexibility in research, collaboration, and business models, enhancing its competitive edge [27]. Regulatory and Market Position - Baiaosaitu has received AAALAC certification, ensuring compliance with international standards for laboratory animal care [20]. - The company meets the listing standards for the Sci-Tech Innovation Board, with an expected market value of no less than 3 billion RMB and recent annual revenue exceeding 300 million RMB [32].

Summary of Key Points Core Viewpoint - The company Bai'ao Saitou is set to launch its public offering, with a total share capital of 399 million shares before the issuance and plans to issue 47.5 million shares, representing 10.63% of the post-issue total share capital. The offering price is set at 26.68 yuan per share, with a high price-to-earnings ratio of 519.12 times, indicating a premium valuation compared to the industry average of 39.31 times [1]. Company Information - Bai'ao Saitou specializes in providing innovative model animals and preclinical pharmaceutical research and development services based on its self-developed gene editing technology [1]. New Share Issuance Details - The public offering will consist of 47.5 million shares, with 7.6 million shares available for online subscription. The subscription code is 787796, and the maximum subscription limit for a single account is 7,500 shares, requiring a minimum market value of 75,000 yuan in the Shanghai market [1]. Fundraising Allocation - The funds raised from the public offering will be allocated to several projects: - Early drug research and development service platform construction: 59.797 million yuan - Antibody drug research and evaluation project: 39.513 million yuan - Preclinical and clinical research projects: 40 million yuan - Supplementing working capital: 50 million yuan [1]. Financial Performance - The company reported total assets of 2.415 billion yuan in 2024, a decrease from 2.449 billion yuan in 2023 and 2.799 billion yuan in 2022. - Net assets increased to 834.0588 million yuan in 2024 from 785.8889 million yuan in 2023, but down from 1.1462665 billion yuan in 2022. - Operating revenue rose to 980.4539 million yuan in 2024, compared to 716.9118 million yuan in 2023 and 533.8808 million yuan in 2022. - The net profit attributable to shareholders was 33.5418 million yuan in 2024, a significant recovery from losses of 38.295 million yuan in 2023 and 60.1947 million yuan in 2022 [2]. Research and Development Investment - Research and development investment amounted to 323.9245 million yuan in 2024, accounting for 33.04% of operating revenue, a decrease from 66.17% in 2023 and 130.96% in 2022 [2].

格隆汇11月27日丨百奥赛图-B(02315.HK)发布公告，于2025年11月25日完成向询价对象进行的初步询价 后，公司将按发行价每股A股人民币26.68元发行4750万股新A股。发行价由公司及承销商根据初步咨询 结果，考虑到发行人基础、市场情况、同行业上市公司估值水平、募集资金需要、承销风险及其他因素 后协商及厘定。 ...