Amgen(US:AMGN) Chan Ye Xin Xi Wang·2026-01-15 01:53Core Insights - T-cell engagers (TCEs) are a focus in precision immunotherapy, showing rapid market growth and clinical advancements in cancer and autoimmune disease treatments [1][4] Market Overview - The global TCE market is projected to reach $5.6 billion by 2025 and $9.5 billion by 2026, with China's market expected to grow to $300 million and $600 million respectively [1][4] - Since 2024, the TCE sector has seen significant transaction activity, with 28 transactions recorded in 2024 and a total of 179 transactions from 2013 to 2024 [4][5] Clinical Trials - In 2024, there were 175 TCE clinical trials initiated globally, with 115 focused on hematological cancers, representing 65% of the market share [4] - The number of clinical trials for autoimmune diseases is expected to grow significantly, matching the 32 trials for solid tumors initiated in 2024 [4] Industry Definition and Classification - TCEs are a subgroup of immunotherapy that utilize bispecific antibodies to direct T-cells to kill tumor cells, classified into three main types: IgG-like TCEs, Fv-based TCEs, and combination-based TCEs [2][3] Industry Development - The development of TCEs has evolved over 40 years, from the initial concept in 1961 to clinical applications, with significant milestones in 1985 and 2008 marking key advancements [5][6] Competitive Landscape - Over ten TCEs have been approved globally, with a surge in approvals since 2022, particularly in the hematological cancer space [7] - Key companies involved in TCE development include Amgen, Roche, Johnson & Johnson, and several domestic firms in China such as Guangdong Fipeng Pharmaceutical and Aimi Biotechnology [7][8] Future Trends - TCEs are increasingly being explored for various diseases beyond hematological cancers, including autoimmune diseases, and are becoming a significant area of research in the biopharmaceutical sector [8][9]