Di Yi Cai Jing·2025-10-13 03:13Group 1: Key Developments in BaiLi TianHeng - BaiLi TianHeng (688506.SH) will receive a milestone payment of up to $250 million for its dual-target ADC (antibody-drug conjugate) BL-B01D1, following an initial payment of $800 million last year [1] - The ADC BL-B01D1 targets EGFR and HER3 and has a total potential transaction value of up to $8.4 billion, setting a record for single-drug licensing in the global ADC field [1] - The collaboration with Bristol-Myers Squibb (BMS) includes joint development and commercialization of BL-B01D1, with ongoing global Phase II/III clinical trials for various cancers [1] Group 2: Financial Performance and Implications - BaiLi TianHeng reported a revenue of 171 million yuan in the first half of the year, a year-on-year decline of 96.92%, with a net loss of 1.118 billion yuan [2] - The milestone payment is expected to contribute positively to BaiLi TianHeng's revenue amidst its current financial challenges [2] Group 3: Developments in BGI Genomics - BGI Genomics (688114.SH) announced a licensing agreement with SwissRockets for its CoolMPS sequencing technology, marking a significant step in global commercialization of core technology patents [2][4] - The agreement includes a total of at least $120 million in upfront, milestone, and royalty payments, with an initial non-refundable payment of $20 million [3] - BGI Genomics aims to monetize its technology without additional R&D investment, potentially improving its profitability and cash flow [4]