岸迈生物IPO进程提速：中国TCE先驱企业，BD实力打开成长天花板

Core Viewpoint - The TCE bispecific antibody sector is entering a "golden era" with significant growth potential and innovation opportunities in cancer and autoimmune disease treatments [2][9]. Company Overview - A new generation of bispecific antibody pioneer, "Anmai Biotech," is advancing its listing process on the Hong Kong Stock Exchange, with a focus on T cell engagers (TCE) to address unmet medical needs in cancer and autoimmune diseases [3][4]. - Anmai Biotech has developed a robust pipeline of products, including three clinical-stage candidates: core product EMB-01, key product EMB-06, and EMB-07, along with four preclinical TCE candidates [4]. Commercialization Strategy - Anmai Biotech demonstrates industry-leading commercialization capabilities and is a model for domestic innovative drug companies expanding internationally through the NewCo model, having secured over $2.1 billion in global licensing deals, ranking second in the TCE field [6][8]. - The NewCo model allows for higher upfront payments and better resource integration, enabling partnerships with top global players to maximize the value of innovative assets [6]. Key Collaborations - A notable collaboration involves EMB-06, with a potential total transaction value of $635 million, showcasing the company's strategic partnerships and rapid clinical development efforts [7]. - Anmai Biotech has also engaged in multiple high-value business development transactions, including a global licensing agreement with Juri Biosciences worth up to $210 million [8]. Market Outlook - The global TCE market is projected to grow from $400 million in 2020 to $3 billion in 2024, with an expected CAGR of 43.4% from 2024 to 2034, indicating a significant market opportunity for Anmai Biotech [9].