翰宇药业开创先河:新药"研发能力上链"新范式

Core Viewpoint - The strategic partnership between Hanyu Pharmaceutical and KuCoin aims to explore the tokenization of future revenue rights from innovative drug research and development in Hong Kong, marking a significant step in the integration of technology, medicine, and finance [1][2][3] Group 1: Company Overview - Hanyu Pharmaceutical has over 20 years of experience in peptide drugs and possesses a comprehensive formulation pipeline covering mainstream peptide targets globally [3] - The company expects a substantial increase in net profit for the first half of 2025, projecting between 142 million to 162 million yuan, representing a year-on-year growth of 1,471% to 1,664% [3] - Hanyu's collaboration with KuCoin is expected to enhance its competitive edge in the GLP-1 peptide drug sector by leveraging blockchain technology [6] Group 2: Industry Context - The pharmaceutical industry faces high research costs, lengthy development cycles, and significant risks, making capital market financing essential for many innovative drug companies [4] - Traditional financing models often rely on private equity and venture capital, leading to dilution of equity and uncertainty regarding IPO success [4][5] - The emergence of the RWA model represents a new financing solution, allowing the tokenization of intangible assets, which can facilitate broader investor participation and reduce reliance on traditional intermediaries [5][6] Group 3: Technological Integration - KuCoin's capabilities include ensuring a clear patent foundation for Hanyu's GLP-1 pipeline and converting key milestones into programmable revenue rights for tokenization [6] - The implementation of the RWA model under the new stablecoin regulations in Hong Kong is expected to enhance legal compliance and reduce trust costs, thereby protecting investor rights [6] - Successful execution of this model could establish a new paradigm for financing in China's innovative drug development sector, promoting digitalization and globalization [6]