12亿抄底小核酸！中国生物制药拿下“行业黑马”赫吉亚

Core Insights - The siRNA sector has become one of the most promising areas in the biopharmaceutical industry, with a global transaction total of approximately $35 billion since 2025, reflecting a year-on-year growth of over 40% [1] - China National Pharmaceutical Group (China Biopharmaceutical) announced a full acquisition of domestic siRNA innovator Hejia Bio for a total price of 1.2 billion RMB, marking a significant move in the siRNA space following its investment in Saintin Bio [1] - The acquisition aims to enhance China Biopharmaceutical's core competitiveness in the siRNA sector and expand its footprint in the trillion-dollar chronic disease treatment market [1] Group 1 - Hejia Bio, established in 2018, focuses on providing long-acting, low-dose siRNA innovative products, with a core R&D team having over 20 years of experience in siRNA drug development [2] - Hejia has developed six delivery platforms and has four innovative drugs in clinical stages, with over 20 projects in preclinical stages, showcasing significant global first-in-class (FIC) and best-in-class (BIC) potential [2] - The MVIP liver delivery platform is the world's first clinically validated siRNA platform capable of "one injection per year," demonstrating superior delivery efficiency and efficacy compared to existing platforms [2] Group 2 - The dual-target coupling technology platform (DDP) allows for simultaneous delivery of dual-target siRNA, enabling breakthroughs in synergistic treatment for complex diseases [3] - The neural delivery platform (NSDP) is set to address unmet clinical needs in central and peripheral nervous system diseases, with products expected to enter clinical stages by 2026 [3] - Hejia's innovative technologies, including the long-acting liver delivery system and dual-target technology, are anticipated to drive multiple products into clinical stages between 2026 and 2027, with potential valuations exceeding $10 billion [3] Group 3 - The advantages of siRNA drugs in chronic diseases are becoming evident, particularly in improving patient adherence, which is crucial for effective disease management [4] - For cardiovascular diseases, approximately 3 billion people globally suffer from lipid abnormalities, with over 1.4 billion having elevated Lp(a) levels, which significantly increases the risk of serious health issues [4] - Current therapies only reduce Lp(a) levels by 20%-25%, while new siRNA therapies could achieve reductions of 80%-95%, with a market size estimated at $15 billion [4] Group 4 - Hejia's Kylo-11 is the first siRNA product to achieve a "one injection per year" treatment for elevated Lp(a), demonstrating a 95% reduction in levels with a single subcutaneous injection [5] - Kylo-11 has completed its first patient dosing in a multi-center Phase II clinical trial in October 2025, making it the fastest progressing siRNA product for treating elevated lipoprotein(a) in China [5] - Hejia has additional clinical projects, including ApoC3 siRNA and chronic HBV siRNA products, with over 20 preclinical pipelines covering high-value areas such as cardiovascular and metabolic diseases [6] Group 5 - The acquisition of Hejia by China Biopharmaceutical is seen as a strategic move to enhance its portfolio in chronic disease treatments, particularly in cardiovascular and metabolic areas [6] - This acquisition complements China Biopharmaceutical's existing capabilities in respiratory, liver diseases, and autoimmune conditions, significantly expanding its market presence [6] - The collaboration is expected to accelerate the commercialization of Hejia's siRNA drug pipeline, leveraging China Biopharmaceutical's extensive clinical and commercial capabilities [6] Group 6 - The average deal size for global siRNA business development transactions has exceeded $800 million, indicating a rising trend in transaction values [7] - The acquisition of Hejia represents a significant move by a large pharmaceutical company in the domestic siRNA sector, following its previous acquisition of Lixin Pharmaceutical [7] - Hejia's founder expressed optimism about the collaboration, highlighting the potential for advancing drug development and addressing unmet medical needs in chronic diseases [7]