撰文丨王聪 编辑丨王多鱼 排版丨水成文 胃肠道 （GI） 癌症，包括肝癌、胃癌、胰腺癌、神经内分泌肿瘤以及最为常见的结直肠癌，是全球癌症相关死亡的主要原因。根据国际癌症研究机构 （IARC） 的最新统计数据，这些癌症约占所有癌症诊断病例的 24.6%，占癌症死亡病例的 34.2%。 在这项最新研究中，研究团队证明了 CDH17 在胃肠道癌症中高度表达，在结直肠癌的临床样本中几乎 100% 表达， 在其他胃肠道癌症中表达率也高达 23%-88%， 高表达与肿瘤进展、转移及临床预后不良密切相关，且 在正常组织中低表达， 因此成为胃肠道癌症治疗干预的理想靶点。 研究团队开发了一种抗 CDH17 的 抗体药物偶联物 （ADC） ，命名为—— 7MW4911 ，其采用了迈威生物专有的拓扑异构酶抑制剂 MF-6 （Topi MF-6） 有 效载荷，通过可裂解 Linker 的连接， 7MW4911 实现了 4 个 MF-6 与一个抗体偶联的均一偶联比，旨在解决胃肠道癌症中的多药耐药性 。 在全球范围内，结直肠癌 （CRC） 在所有癌症的发病率中排名第三，在癌症相关死亡率中排名第二，而胰腺癌尽管发病率较低，但死亡率却是最高 ...

截至07月03日10:45，科创生物医药ETF(588250.SH)上涨1.75%，其关联指数科创生物(000683.SH)上涨 1.91%；主要成分股中，神州细胞上涨19.34%，君实生物-U上涨4.24%，微芯生物上涨8.58%，泽璟制 药-U上涨3.33%，迈威生物-U上涨8.23%。 科创生物医药ETF（588250） 关联个股： 联影医疗（688271）、百济神州-U（688235）、惠泰医疗（688617）、百利天恒（688506）、艾力斯 （688578）、泽璟制药-U（688266）、君实生物-U（688180）、博瑞医药（688166）、华大智造 （688114）、益方生物-U（688382） 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 消息面上，国家医保局、国家卫生健康委联合印发《支持创新药高质量发展的若干措施》，提出16条全 链条支持政策，涵盖研发、准入、入院使用及支付环节；同时迪哲医药宣布其自主研发的EGFR Exon20ins靶向药舒沃哲®获美国FDA加速批准，成为全球首个在该适应症获批的国创新药。上述政策 利好及创新药里程碑进展共同提振市场情绪，推动相关 ...

Group 1 - The A-share market has seen a significant increase in private equity research activities, with 1,769 instances of private equity firms conducting research on 387 stocks across 28 industries in June [1] - The electronic, pharmaceutical, and machinery equipment sectors emerged as the primary focus areas for private equity research, with small-cap growth stocks attracting considerable attention [1][2] - Notable stocks such as Maiwei Biotech and Jingbeifang experienced intense research interest, with Maiwei Biotech receiving 51 research sessions, indicating a trend towards small-cap stocks with market capitalizations below 200 billion [1][2] Group 2 - The market performance of stocks that received private equity research correlates with the research intensity, as seen with Jingbeifang's stock price surging over 45% in June [2] - The pharmaceutical sector, particularly Maiwei Biotech, has garnered significant attention from top private equity firms, indicating a strong interest in this industry [2] - The electronic industry was the most researched sector, followed by pharmaceuticals and machinery equipment, with a total of 21 industries receiving focused research in June [2][3] Group 3 - There was little change in private equity research preferences from May to June, with a continued focus on electronics and pharmaceuticals [3] - A total of 85 private equity firms conducted five or more research sessions, with notable participation from large firms such as Zhengyuan Investment and Pankin Investment [3] - The outlook for the market suggests a focus on structural opportunities, with various private equity firms adopting different strategies [4] Group 4 - Some firms, like Shicheng Investment, express a cautious outlook on short-term index performance but remain optimistic about structural opportunities in sectors like Hong Kong internet giants and AI technology stocks [4] - Xing Shi Investment is optimistic about market sentiment recovery, citing improved economic fundamentals and favorable domestic policies [4] - Dan Yi Investment highlights a rotation between growth and dividend assets, suggesting a strategy focused on undervalued stocks with potential for future valuation increases [4] Group 5 - Huanrui Tianze's management is more bullish, suggesting the market may be in the early stages of a bull market, supported by favorable policies and liquidity [5] - The focus for Huanrui Tianze will be on the pharmaceutical sector, particularly innovative drugs, and consumer companies undergoing brand value reassessment [5]

日前，谷歌旗下抗衰老公司 Calico Life Sciences 宣布 与 迈威生物 （Mabwell） 达成一项总价 近6 亿美 元 的生物制药交易，以获取针对 白介素-11 （IL-11） 的研究性疗法权益，其中包括一种用于治疗年龄相 关疾病的临床阶段单克隆抗体 9MW3811 。 撰文丨王聪 编辑丨王多鱼 排版丨水成文 据悉，迈威生物已在临床前研究中探索了 9MW3811 在年龄相关疾病领域的治疗潜力，已在中国及澳大利 亚完成了 1 期临床研究 ，显示出对 特发性肺纤维化的治疗潜力 ，并在美国获批开展 1 期临床研究。 根据许可协议，迈威生物独家许可 Calico 在除大中华区以外所有区域内独家开发、生产和商业化 9MW3811 的权利。 Calico 将向迈威生物支付一次性不可退还的首付款 2500 万美元 ，此外，迈威生物 还可额外获得合计最高达 5.71 亿美元 的近端、开发、注册及商业化里程碑付款 ，以及按许可产品净销售 额计算的阶梯式特许权使用费。 Calico 由谷歌母公司 Alphabet 和行业巨 头 Arthur Levinson 博士共同创立，该公司旨在进一步了解衰老 的生物学原理 ...

| 6 月私募调研调研次数前十个股 | | | | --- | --- | --- | | A 股间称 | 申万一级行业 | 被调研次数(次) | | 迈威牛物 | 医药生物 | 51 | | 海光信息 | 甲子 | 39 | | 中科曙光 | 计算机 | 39 | | 万马科技 | 適信 | 31 | | 乐鑫科技 | 車子 | 30 | | 百利天恒 | 医药生物 | 29 | | 日发精机 | 机械设备 | 29 | | 皖仪科技 | 环保 | 29 | | 稳健医疗 | 美容护理 | 24 | | 京北方 | 计算机 | 23 | | 数据整理自:私募排排网,统计周期 2025年6月1日-6月30日,以上内容不构成股 | | | | 票推荐或投资建议,短期个股业绩不代表未来表现,亦不代表基金必然投资方向。 | | | 6月共有21个申万一级行业被私募机构调研不少于10次，其中电子行业共有56只个股合计获得275次私募 调研，成为最受私募调研青睐的行业。 紧随其后的是医药生物行业，该行业中有41只个股获得私募机构合计调研达266次。其次是机械设备行 业，该行业中有52只个股获得私募机构合计调研达234次 ...

[Table_Main] 行业研究|医疗保健 证券研究报告 本周神州细胞、浩欧博和华人健康等表现较好 涨幅排名前十的个股分别为：神州细胞（+30.45%）、浩欧博 （+27.08%）、华人健康（+26.00%）、华强科技（+22.94%）、迈威生 物（+17.44%）、南模生物（+16.51%）、锦好医疗（+16.05%）、百普 赛斯（+15.79%）、塞力医疗（+14.49%）、贵州百灵（+12.80%）。 跌幅排名前十的个股分别为：易明医药（-21.91%）、福元医药（- 11.50%）、博瑞医药（-9.36%）、悦康药业（-7.74%）、*ST 赛隆（- 6.87%）、众生药业（-6.04%）、常山药业（-5.93%）、科兴制药（-5.77%）、 圣诺生物（-5.12%）、赛升药业（-4.73%）。 医疗保健行业周报 2025 年 07 月 01 日 [Table_Title] 《2025 年基本医保目录及商保创新药目录调 整申报操作指南》出炉，继续看好创新药 ——医药生物行业周报（2025.6.23-2025.6.27） [Table_Summary] 报告要点： 医药板块本周跑输沪深 300 指数 ...

Group 1 - In June, private equity firms showed unprecedented activity in research, with 751 private securities managers participating in A-share listed company research, covering 387 stocks across 28 first-level industries, resulting in a total of 1,769 research instances [1] Group 2 - A total of 46 stocks received significant attention from private equity firms in June, with each stock having more than 10 research instances; 32 stocks received between 10 to 19 instances, while 14 stocks had over 20 instances [3] - Maiwei Biotech topped the list with 51 research instances, attracting interest from several major private equity firms [3] - Another notable stock in the pharmaceutical and biotechnology sector, Baili Tianheng, received 29 research instances, ranking among the top ten [3] Group 3 - Research activity was diverse across industries, with 21 first-level industries receiving at least 10 research instances from private equity firms; 11 industries had between 10 to 49 instances, 4 industries had between 50 to 99 instances, and 6 industries exceeded 100 instances [4] - The electronics industry was the most favored by private equity research, with 56 stocks collectively receiving 275 research instances [4] - The pharmaceutical and biotechnology sector followed closely, with 41 stocks receiving a total of 266 research instances [4] - The machinery equipment industry ranked third, with 52 stocks receiving a total of 234 research instances [4] - The computer industry had 36 stocks receiving 213 research instances, while both the automotive and basic chemical industries also surpassed 100 research instances, each with over 25 stocks [4]

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for future stock performance [1]. Core Insights - The company has entered a new phase of business development (BD) with two significant licensing agreements, which are expected to enhance cash flow and support future growth [2]. - The differentiated ADC (Antibody-Drug Conjugate) and TCE (T-cell Engager) platforms show promising potential, with several innovative products in the pipeline targeting various cancers [3]. - The company is strategically commercializing its products, with notable revenue growth in existing therapies and new product approvals anticipated [4]. Financial Projections - Total revenue is projected to grow significantly from 127.84 million in 2023 to 2,091.52 million by 2027, reflecting a compound annual growth rate (CAGR) of approximately 69.11% [1]. - The net profit is expected to improve from a loss of 1,053.43 million in 2023 to a loss of 226.00 million by 2027, indicating a trend towards profitability [1]. - The earnings per share (EPS) is forecasted to improve from -2.64 in 2023 to -0.57 in 2027, suggesting a gradual recovery in financial performance [1]. Business Development Highlights - The company has secured exclusive licensing agreements with Calico Life Sciences and Qilu Pharmaceutical, which will provide substantial upfront payments and milestone payments, enhancing liquidity [2]. - The ADC platform is actively developing multiple candidates, including Nectin4 ADC and B7-H3 ADC, with ongoing clinical trials expected to yield significant data in the near future [3]. - The TCE platform is also being developed with innovative strategies to enhance tumor targeting and efficacy, with IND applications anticipated in early 2026 [3]. Commercialization Strategy - The company has achieved significant revenue growth in its existing products, such as the osteoporosis treatment with a revenue increase of 230% year-on-year [4]. - Collaborations with established pharmaceutical companies are expected to leverage their sales capabilities, facilitating rapid market penetration for new products [4]. - The company is exploring unique marketing strategies to address aging-related medication needs in specific regions, potentially expanding its market reach [4].

2025年6月30日，迈威生物披露接待调研公告，公司于6月5日接待国泰海通、希瓦资产、民生加银、银 河基金、银华基金等100家机构调研。 公告显示，迈威生物参与本次接待的人员共1人，为董事、高级副总裁、董事会秘书胡会国。调研接待 地点为公司会议室及线上、证券公司策略会等。 据了解，迈威生物各项BD业务持续推进，2025年是创新药BD业务关键之年，希望取得突破，重点推进 Nectin-4 ADC等管线项目。2026年开始，BD重点管线将增加基于新一代TCE平台开发的管线，但创新 药BD业务存在不确定性。 据了解，迈威生物的Nectin-4 ADC在多种适应症推进临床研究，临床入组超800例，多项适应症开发进 度居全球第一。多项临床研究正在开展，不同适应症有不同的计划节点，临床数据读出时点不确定。此 外，抗ST2单抗力争2025年下半年读出部分II期数据，9MW3011在治疗真性红细胞增多症上相比竞品有 多种优势。 据了解，针对TNBC拓扑异构酶ADC经治患者群体较大且急需新疗法，迈威生物认为其产品有应用机 会。同时，公司2025年7月无 限售股解禁，限售股东等有相应减持承诺 。 调研详情如下： 问:公司的BD业 ...

证券代码：688062 证券简称：迈威生物 公告编号：2025-034 一、 交易概况 迈威（上海）生物科技股份有限公司（以下简称"公司"或"迈威生物"） 于 2024 年 12 月 15 日召开第二届董事会第十五次会议，审议通过了《关于迈威 重庆引入投资人暨泰康生物以无形资产增资的议案》，同意公司与重庆高新技术 产业开发区管理委员会（以下简称"重庆高新区管委会"）、重庆中新医药大健 康私募股权投资基金合伙企业（有限合伙）（以下简称"大健康基金"）签订《迈 威生物骨健康创新药项目合同》（以下简称"项目合同"），以公司全资孙公司 迈威（重庆）生物医药有限公司（以下简称"迈威重庆"）作为运营本项目的项 目主体，共同投资建设"迈威生物骨健康创新药项目"，本项目计划总投资为人 民币 20.00 亿元，其中公司总投资为不低于人民币 16.00 亿元（本轮投资 10.08 亿元）、以无形资产方式出资；大健康基金拟总投资 4.00 亿元（本轮投资 2.00 亿元），以货币方式出资，最终投资额以实际投资为准。具体详见公司于 2024 年 12 月 16 日在上海证券交易所网站（www.sse.com.cn）披露的《迈威（上海 ...