60亿美元大单来了！海量资金涌向这一领域

Core Insights - Crystal Holding has signed a significant pipeline cooperation agreement with DoveTree, totaling nearly $6 billion, which has positively impacted its stock price, increasing by over 12% on the following trading day [1][4]. Company Summary - The agreement involves Crystal Technology utilizing its AI and robotics-based end-to-end drug discovery platform to identify and develop small molecules and antibody candidates targeting oncology, immunology, inflammation, neurological disorders, and metabolic disorders for DoveTree [5]. - Crystal Technology has received an initial payment of $51 million and is entitled to further payments totaling $49 million, along with potential milestone payments of up to $5.89 billion and royalties based on annual net sales [5]. - This order represents over 100 times Crystal Holding's projected revenue for 2024 and is the largest publicly disclosed collaboration in the AI drug discovery sector globally, as well as one of the top license-out transactions in China's biopharmaceutical history [5]. Industry Summary - The AI drug discovery market in China is rapidly expanding, with projections showing growth from 70 million yuan in 2019 to 730 million yuan by 2024, reflecting a compound annual growth rate (CAGR) of 47.8%. The market is expected to further increase to 5.86 billion yuan by 2028, with a CAGR of 68.3% [6]. - Recent months have seen significant developments in the AI drug discovery sector, with major collaborations and funding flowing into the industry, indicating a trend towards increased investment and innovation [7].