千亿创新药巨头，又出手并购

Core Viewpoint - China Biopharmaceutical has acquired 100% equity of Hejia Bio for 1.2 billion RMB, enhancing its position in the small RNA (siRNA) sector, following its previous acquisition of Lixin Pharmaceutical for approximately 3.5 billion RMB in July 2025 [2][8]. Group 1: Acquisition Details - The acquisition of Hejia Bio is a strategic move to strengthen China Biopharmaceutical's capabilities in the small RNA field, which has seen significant stock price increases among overseas companies, with Alnylam's market value peaking at over 64 billion USD [2][5]. - Hejia Bio, established in 2018, focuses on innovative siRNA products with advantages in long-lasting effects and low dosage, boasting six delivery platforms and four innovative drugs in clinical stages [5][6]. Group 2: Product Pipeline and Market Potential - Hejia Bio's Kylo-11, targeting LPA, is the world's first siRNA product to achieve "one injection per year" in clinical trials, with the first patient treated in a multi-center phase II trial in October 2025 [6]. - The company has three additional clinical projects and over 20 preclinical pipelines covering high-value areas such as cardiovascular, metabolic, and neurological diseases [6][8]. Group 3: Strategic Implications - The acquisition allows China Biopharmaceutical to complete its innovative drug layout in the cardiovascular field and significantly expand its presence in chronic disease markets [8]. - The chairman of China Biopharmaceutical emphasized that this acquisition will enhance the company's core competitiveness in the small RNA sector and open up new opportunities in the trillion-dollar chronic disease treatment market [8].