Core Viewpoint - The collaboration between Insilico Medicine and Shenzhen Hengtai Biotechnology aims to accelerate the global development of ISM8969, a novel NLRP3 inhibitor for treating central nervous system diseases [1] Group 1: Partnership Details - Insilico Medicine and Hengtai Biotechnology have entered into a co-development agreement for the ISM8969 project [1] - Insilico Medicine grants Hengtai Biotechnology 50% rights for research, development, registration, production, and commercialization of ISM8969 globally [1] Group 2: Financial Aspects - Insilico Medicine is set to receive over HKD 500 million in total prepayments and milestone payments, including an initial payment of HKD 78 million expected within 30 days of the agreement's effective date [1] Group 3: Development Responsibilities - Insilico Medicine will lead the early clinical development of ISM8969, including the submission of new drug clinical trial applications and conducting Phase I clinical trials for Parkinson's disease indications [1] - Hengtai Biotechnology will take charge of subsequent global clinical research, regulatory registration, and commercialization efforts [1]

Core Viewpoint - The Chinese biotech company, Insilico Medicine, has entered into an exclusive licensing and co-development agreement with Shenzhen Hengtai Biotechnology Co., Ltd. to accelerate the global development of its ISM8969 project, a novel NLRP3 inhibitor aimed at treating central nervous system diseases [1] Group 1: Partnership Details - Insilico Medicine and Shenzhen Hengtai will jointly advance the ISM8969 project, with both parties holding 50% global rights to the project [1] - The agreement allows Hengtai Biotechnology to conduct research, development, registration, production, and commercialization of ISM8969 worldwide [1] Group 2: Financial Aspects - Insilico Medicine is entitled to receive up to $66 million in upfront and milestone payments, including an initial payment of $10 million expected within 30 days of the agreement's effective date [1]

Group 1 - The core announcement is that Insilico Medicine (03696) has entered into an exclusive licensing and co-development agreement with Shenzhen Hengtai Biotechnology Co., Ltd. for the ISM8969 project, a novel oral NLRP3 inhibitor aimed at treating central nervous system diseases [1] - The collaboration aims to accelerate the global development of ISM8969, which has the ability to penetrate the blood-brain barrier [1] - Insilico Medicine will receive up to $66 million (approximately HKD 514.8 million) in upfront and milestone payments, including an initial payment of $10 million (approximately HKD 78 million) within 30 days of the agreement's effective date [1] Group 2 - ISM8969 is identified as a potential best-in-class NLRP3 inhibitor, discovered and optimized through Insilico Medicine's proprietary generative chemistry engine, Chemistry42 [2] - Preclinical studies have shown ISM8969 to exhibit excellent efficacy and safety, demonstrating significant anti-inflammatory activity across various disease models [2] - The compound has ideal blood-brain barrier penetration capabilities, which may provide potential benefits for treating neuroinflammatory-related diseases [2]

Group 1 - The core point of the news is that Insilico Medicine (03696) has entered into an exclusive licensing and co-development agreement with Shenzhen Hengtai Biotechnology Co., Ltd. for the ISM8969 project, aimed at accelerating the global development of a novel oral NLRP3 inhibitor for central nervous system diseases [1][2] - Under the agreement, Insilico will grant Hengtai the rights to research, develop, register, produce, and commercialize ISM8969 globally, with both parties holding 50% global rights to the project [1] - Insilico is set to receive up to $66 million (approximately HKD 514.8 million) in upfront and milestone payments, including an initial payment of $10 million (approximately HKD 78 million) expected within 30 days of the agreement's effective date [1] Group 2 - ISM8969 is positioned as a potential best-in-class NLRP3 inhibitor, discovered and optimized through Insilico's proprietary generative chemistry engine, Chemistry42 [2] - Preclinical studies have shown that ISM8969 exhibits excellent efficacy and safety, demonstrating significant anti-inflammatory activity across various disease models [2] - The compound has ideal blood-brain barrier (BBB) penetration capabilities, which may provide potential benefits for treating neuroinflammatory-related diseases [2]

Core Insights - The article highlights the recent collaboration between AI pharmaceutical leader Insilico Medicine and Shenzhen Hengtai Biotech, focusing on a research agreement exceeding HKD 500 million to develop the neuroscience drug ISM8969, targeting central nervous system disorders including Parkinson's disease [1][2] Group 1: Collaboration and Agreements - Insilico Medicine has signed a research cooperation agreement with Shenzhen Hengtai Biotech, marking a significant step in their partnership with Fosun Pharma [1] - The agreement grants both parties 50% global rights to the ISM8969 project, with Insilico leading the IND application and Phase I clinical trials [2] - This collaboration is part of a broader strategy to enhance Insilico's pipeline in neuroscience and leverage its AI capabilities for drug development [2][4] Group 2: AI Drug Development and Technology - Insilico's Chemistry42 generative chemistry engine is utilized for molecular design and optimization of ISM8969, aiming for oral administration while ensuring effective blood-brain barrier penetration [2] - The project exemplifies the application of AI in addressing complex CNS diseases, which have historically faced high failure rates in drug development [1][2] - Insilico's Pharma.AI platform emphasizes data-driven project selection, allowing for expansion into various therapeutic areas beyond traditional single-disease focus [4] Group 3: Business Development and Market Position - Since its listing in December 2025, Insilico has accelerated its business development activities, including significant collaborations with various pharmaceutical companies [5][6] - The company has established a three-tier structure centered around its Pharma.AI platform, enabling it to generate revenue through platform subscriptions, internal pipeline development, and external collaborations [6][7] - Insilico's approach allows for a self-sustaining cash flow model, addressing the traditional challenges faced by AI biotech firms in achieving profitability [7][8] Group 4: Future Outlook and Challenges - The ongoing expansion of Insilico's collaboration network raises questions about its clinical and commercial translation capabilities, which are critical for the success of AI-driven drug development [8] - Maintaining a balance between external partnerships and internal technological advancements will be essential for Insilico to leverage its competitive advantages effectively [8]

智通财经APP获悉，刚于 2025 年底登陆港交所的AI制药头部企业英矽智能(03696)再传捷报，继在 2026 年迎来BD"开门红"后，公司本周宣布与深圳衡泰生物签署一项总额逾 5 亿港币的研发合作协议，共同 开发协议，围绕其神经科学创新药物 ISM8969 展开全球开发合作，探索包括帕金森病在内的中枢神经 系统适应症。据公开信息，深圳衡泰生物由深圳鹏复基金与复星医药联合孵化，此次合作一定程度上延 续并加深了英矽智能与复星医药系公司的合作关系。 中枢神经系统(CNS)疾病长期以来被视为医学领域的"硬骨头"，其难点主要集中在两方面：一是发病机 制高度复杂，涉及神经元功能失衡、蛋白质异常聚集以及多条信号通路的交织紊乱；二是血脑屏障这 一"天然防线"的存在，使绝大多数药物难以有效到达脑内病灶，导致 CNS 新药研发整体失败率高、周 期长、投入大。 在 ISM8969 项目中，英矽智能依托其生成式化学引擎 Chemistry42 进行分子设计与优化，旨在实现口服 给药的前提下，兼顾对 NLRP3 靶点的抑制活性和候选分子穿透血脑屏障的能力。临床前数据表明， ISM8969 在多种神经炎症和神经退行性疾病模型中展现 ...

Core Viewpoint - 英矽智能 has entered into an exclusive licensing and co-development agreement with Shenzhen Hengtai Biotechnology Co., Ltd. for the ISM8969 project, aimed at accelerating the global development of a new oral NLRP3 inhibitor for central nervous system diseases [1] Group 1: Agreement Details - The agreement grants Shenzhen Hengtai the rights to research, develop, register, produce, and commercialize ISM8969 globally, with both parties holding 50% global rights to the project [1] - 英矽智能 is entitled to receive up to $66 million (approximately HKD 514.8 million) in upfront and milestone payments, including an expected upfront payment of $10 million (approximately HKD 78 million) within 30 days of the agreement's effective date [1] Group 2: Company Background - Shenzhen Hengtai Biotechnology Co., Ltd. was incubated by Shenzhen Pengfu Biomedical Industry Private Equity Investment Fund Partnership and Fosun Pharma, focusing on innovative biotechnology in the field of autoimmune diseases [1] - Established in August 2025, the company aims to introduce and develop innovative pipelines with "best-in-class" potential globally, providing breakthrough treatment solutions through efficient R&D and commercialization capabilities [1]

英矽智能 （於開曼群島註冊成立的有限公司） （股份代號：3696） 自願公告 英矽智能與衡泰生物達成超過 5 億港元的全球戰略合作 共同開發新型血腦屏障穿透性 NLRP3 抑制劑 本公告由英矽智能（「本公司」，連同其附屬公司統稱「本集團」）自願作出，以告知 本公司股東及潛在投資者有關本集團的最新業務更新。 本公司董事會（「董事會」）欣然宣佈，英矽智能已與深圳衡泰生物科技有限公司 （「衡泰生物」），一家由深圳市鵬復生物醫藥產業私募股權投資基金合夥企業（有 限合夥）與復星醫藥聯合孵化的企業，就英矽智能的ISM8969項目達成獨家許可與 共同開發合作協議（「該協議」）（「該合作」）。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 INSILICO MEDICINE InSilico Medicine Cayman TopCo 關於英矽智能 英矽智能是一家全球先鋒生物科技公司，致力於整合人工智能和自動化技術，加 速藥物發現並推動生命科學領域的創新，賦能人類擁 ...

Investment Rating - The report assigns an "Add" rating for the company, marking its first coverage [1][5]. Core Insights - The company has entered a multi-year R&D collaboration with Servier, focusing on challenging targets in oncology using its AI platform Pharma.AI [2][3]. - The agreement allows the company to receive up to $32 million in upfront and milestone payments, with Servier sharing R&D costs and leading subsequent clinical validation and commercialization [3][5]. - The company is recognized for its AI-driven drug development capabilities in oncology, with several promising candidates already in clinical trials [4][5]. - The business model is differentiated, as it does not rely on a single molecule and shares R&D costs with partners, reducing clinical phase risks and maximizing AI platform value [5]. Financial Projections - Revenue is projected to grow from $86 million in 2024 to $170 million in 2027, with growth rates of 68%, 11%, 35%, and 32% respectively [8]. - The company is expected to achieve an EPS of -0.24 in 2024, improving to 0.00 by 2027 [8]. - EBITDA is forecasted to improve from -11 million in 2024 to -2 million in 2027, indicating a trend towards profitability [8][11].

（责任编辑：王治强 HF013） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 每经AI快讯，英硅智能(03696.HK)尾盘飙升，涨逾12%，高见59.85港元，较招股价24.05港元已涨 近150%。截至发稿，英硅智能涨10.04%，报58.65港元，成交额1.81亿港元。 每日经济新闻 ...