Group 1 - The stock of Yiming Anke-B (01541.HK) increased by over 5%, specifically rising by 5.11% to reach 4.94 HKD per share [2] - The trading volume amounted to 8.3481 million HKD at the time of reporting [2]

Core Viewpoint - The company, 宜明昂科-B, has seen a stock increase of over 5% following the announcement of successful patient recruitment for a Phase III clinical trial of IMM01 for chronic myelomonocytic leukemia (CMML) treatment, indicating positive momentum in its clinical development and potential future partnerships [1] Group 1: Clinical Development - The company announced the successful recruitment of 104 patients for the Phase III clinical trial of IMM01, aimed at treating CMML, with expectations to complete recruitment of 132 patients by the end of March 2026 [1] - The company plans to submit a pre-BLA application by the end of 2026 and is advancing its research in atherosclerosis to the concept validation stage [1] Group 2: Business Operations - As of the announcement date, the board confirmed that the company's business operations and clinical development remain normal, with no significant adverse changes in the financial status [1] Group 3: Industry Engagement - The company participated in the 44th J.P. Morgan Healthcare Conference, where its founder and CEO, Dr. Tian Wenzhi, presented the company's development status and key project progress [1] - During the conference, the executive team engaged with over ten multinational pharmaceutical and biotechnology companies, establishing deep communication with several potential partners, which is expected to lead to substantial progress in 2026 [1]

Core Viewpoint - The company, Immune-Onc Therapeutics, has successfully completed the recruitment of 104 patients for its Phase III clinical trial of IMM01 for the first-line treatment of chronic myelomonocytic leukemia (CMML), with expectations to complete the recruitment of 132 patients by the end of March 2026 [1][1][1] Group 1 - The company's stock price increased by over 5%, reaching HKD 4.94, with a trading volume of HKD 8.3481 million [1][1][1] - The board confirmed that the company's business operations and clinical development remain normal, with no significant adverse changes in its financial status [1][1][1] - The company plans to submit a pre-BLA application by the end of 2026 and is advancing its research in atherosclerosis to the concept validation stage [1][1][1] Group 2 - The company participated in the 44th J.P. Morgan Healthcare Conference, where its founder and CEO, Dr. Tian Wenzhi, presented the company's development status and key project progress [1][1][1] - During the conference, the management team engaged with over ten multinational pharmaceutical and biotechnology companies, establishing deep communication with several potential partners, with positive feedback received [1][1][1] - The company anticipates substantial progress in 2026, which could inject new momentum into its global pipeline [1][1][1]

Group 1 - The company successfully completed the recruitment of 104 patients for the Phase III clinical trial of IMM01 (Tadapaximab) for first-line treatment of chronic myelomonocytic leukemia (CMML) by December 31, 2025, and expects to complete the recruitment of 132 patients needed for interim analysis by the end of March 2026 [1] - The board confirmed that the company's business operations and clinical development remain normal, with no significant adverse changes in the business operations and financial status [1] Group 2 - IMM01 (Tadapaximab) is an innovative targeted CD47 molecule and the first SIRPα-Fc fusion protein to enter clinical stages in China, designed to activate macrophages through a dual mechanism [2] - The product has received orphan drug designation from the U.S. Food and Drug Administration for first-line treatment of CMML in combination with Azacitidine in November 2023 [2] - The company holds global intellectual property and commercialization rights for IMM01 (Tadapaximab), with a patent family that includes granted patents in China, the United States, Japan, and the European Union [2]

Group 1 - The company completed the recruitment of 104 patients for the Phase III clinical trial of IMM01 (Tadapaximab) for first-line treatment of Chronic Myelomonocytic Leukemia (CMML) by December 31, 2025, and expects to complete the recruitment of 132 patients for interim analysis by the end of March 2026 [1] - The board confirmed that the company's business operations and clinical development are normal, with no significant adverse changes in the business operations and financial status [1] Group 2 - IMM01 (Tadapaximab) is an innovative targeted CD47 molecule and the first SIRPα-Fc fusion protein to enter clinical stages in China [2] - The product activates macrophages through a dual mechanism by blocking the "don't eat me" signal and delivering the "eat me" signal, demonstrating good safety and macrophage activation capabilities [2] - IMM01 (Tadapaximab) received orphan drug designation from the U.S. Food and Drug Administration for first-line treatment of CMML in November 2023 [2] - The company holds global intellectual property and commercialization rights for IMM01 (Tadapaximab), with a patent family that includes granted patents in China, the United States, Japan, and the European Union [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 ImmuneOnco Biopharmaceuticals (Shanghai) Inc. 宜明昂科生物醫藥技術（上海）股份有限公司 關於IMM01（替達派西普） （於中華人民共和國註冊成立的股份有限公司） （股份代號：1541） 自願公告 有關IMM01（替達派西普）臨床試驗的最新消息 本公告由宜明昂科生物醫藥技術（上海）股份有限公司（「本公司」，連同其附屬 公司統稱「本集團」）自願作出，以告知本公司股東及潛在投資者有關本集團的 最新業務發展情況。 本公司董事（「董事」）會（「董事會」）欣然宣佈，本公司於2025年12月31日成功完 成IMM01（替達派西普）用於慢性粒-單核細胞白血病(CMML)一線治療的III期臨 床試驗的104例患者招募，並預期將於2026年3月底前完成中期分析所需的132 例患者招募。截至本公告日期，董事會確認本集團的業務營運及臨床開發維持 正常，且本集團的業務營運及財務狀況並無 ...

公开资料显示，2020年11月，殷刘松加入盛禾（中国）生物制药，担任该集团首席执行官兼首席科学 官；2023年7月，殷刘松进一步获委任为上市公司盛禾生物首席执行官兼首席科学官，负责集团日常运 营及科学事务。 招股书显示，殷刘松在2008年7月取得中国科学技术大学生物科学学士学位，并于2014年4月进一步取得 马萨诸塞大学陈曾熙医学院（原称马萨诸塞大学医学院）生物医学博士学位。他拥有多年生物制药行业 经验，2014-2015年，其在辉瑞任博士后研究员，参与大分子药物的免疫原性研究；2015年3月-2020年 10月，其在金斯瑞生物（01548.HK）任执行总监，主要负责生物制药项目和探索平台。 据Wind统计，自加入盛禾生物以来，殷刘松的薪酬总额包括薪金及其他福利、退休福利计划供款、酌 情花红、股份支付等，2021-2024年分别为870.90万元、357.80万元、229.20万元、149.80万元。 财报显示，盛禾生物成立于2018年，是一家专注于发现、开发和商业化用于治疗癌症和自身免疫性疾病 的生物制剂的临床阶段生物制药公司。2023年下半年、2024年一季度，盛禾生物两度向港交所递交IPO 申请，最终于 ...

Core Viewpoint - The recent exclusive licensing agreement between Rongchang Biologics and AbbVie for the dual-specific antibody drug RC148, targeting PD-1/VEGF, highlights the competitive landscape in the oncology drug market, with significant financial implications for both companies [1][5]. Group 1: Licensing Agreement Details - Rongchang Biologics has entered into an exclusive licensing agreement with AbbVie for RC148, which is currently in Phase II clinical trials [1]. - The deal includes an upfront payment of $650 million and potential milestone payments up to $4.95 billion, along with tiered royalties on net sales, bringing the total potential value of the agreement to $5.5 billion [1]. - Following the announcement, Rongchang Biologics' stock surged, with a 20% increase in A-shares and a 7.87% increase in Hong Kong shares [1]. Group 2: Market Context and Comparisons - The PD-1/VEGF target has seen multiple drugs developed, with over five similar drugs already in the market, leading to skepticism about the market share for later entrants [1][4]. - Other Chinese biotech firms have also engaged in significant licensing deals for PD-1/VEGF drugs, with notable transactions including a $500 million upfront payment from Summit to Kanyos Biologics and a $1.25 billion upfront payment from a partnership involving 3SBio and Pfizer [4]. - Despite being ranked lower in the market, Rongchang Biologics' deal value is comparable to that of Kanyos Biologics, raising questions about the valuation of later-stage products [5]. Group 3: Future Prospects and Trends - There is an expectation for continued licensing transactions in the PD-1/VEGF space, driven by efficacy, different indications, and combination therapies [8]. - Companies with PD-1/VEGF candidates that have not yet been licensed are actively seeking opportunities, with the potential for significant deals depending on product data and market conditions [8]. - Major multinational pharmaceutical companies, including Eli Lilly, Novartis, and AstraZeneca, have not yet announced new PD-1/VEGF acquisitions, indicating potential future market activity [9].

Core Viewpoint - Rongchang Biopharmaceutical has successfully licensed its PD-1/VEGF dual antibody RC148 to AbbVie for an upfront payment of $650 million, with the total deal potentially reaching $5.6 billion, approximately 4 billion RMB, marking a significant turnaround for the company [1][2][7]. Company Overview - Rongchang Biopharmaceutical, founded in 2008, is a pioneer in the development of innovative drugs in China, particularly in antibody-drug conjugates (ADCs) [1]. - The company has faced challenges in commercializing its products and has been criticized for its aggressive strategy, leading to significant losses and limited cash reserves [1]. Financial Impact - The $650 million upfront payment from AbbVie will provide substantial funding for Rongchang Biopharmaceutical, covering all previous R&D investments for RC148 and significantly boosting the company's financial position [2][7]. - Following the announcement of the deal, Rongchang's stock surged over 20%, indicating strong market confidence in the transaction [7]. Product Development and Market Position - RC148 is the first product from Rongchang's dual antibody platform to enter clinical trials, focusing on treating solid tumors [5]. - The product has shown promising clinical data, with objective response rates of 61.9% for monotherapy and 66.7% when combined with chemotherapy for non-small cell lung cancer [8]. Competitive Landscape - The competition in the PD-1/VEGF dual antibody market is intensifying, with other companies like Kangfang Biopharmaceutical and Sanofi already advancing their products to later clinical stages [9][11]. - Rongchang's collaboration with AbbVie, which has limited experience in solid tumors, raises questions about the potential success of RC148 compared to competitors [9][12]. Strategic Significance - The deal with AbbVie reflects ongoing interest from multinational pharmaceutical companies in acquiring dual antibody assets, which could benefit domestic companies like Rongchang [7]. - The transaction underscores the importance of asset quality and collaboration in revitalizing market confidence in the biopharmaceutical sector [7].

Core Viewpoint - The termination of the collaboration between 宜明昂科-B (1541.HK) and AxionBio highlights the challenges faced by Chinese innovative drug companies in the global market, emphasizing that the choice of partners may be more critical than the technical advantages of the products themselves [5][21][25]. Group 1: Collaboration Details - In August 2024, 宜明昂科-B signed a potential licensing agreement with AxionBio worth over $2 billion, which was seen as a significant step for the company's international expansion [2][18]. - By January 2026, 宜明昂科-B announced the recovery of global rights for its dual-antibody drug IMM2510 and CTLA-4 antibody IMM27M, marking the end of the collaboration [4][21]. - The company retained the $35 million upfront and milestone payments received from AxionBio, indicating a strategic decision rather than a forced exit [5][21]. Group 2: Clinical Development Challenges - The clinical trial progress for IMM2510 was notably slow, with only three patients enrolled in the Phase I trial in the U.S. before the collaboration ended [7][23]. - The FDA approved the clinical trial application for IMM2510 in July 2025, but AxionBio did not administer the first patient until October 2025, resulting in a 15-month delay from the agreement to actual clinical operations [7][23]. Group 3: Market Competition - The PD-(L)1/VEGF dual-antibody market is highly competitive, with 17 drugs currently in clinical trials, all associated with Chinese innovative drug companies [10][27]. - Major players like 康方生物 and 三生制药 have advanced their products to Phase III clinical trials in collaboration with multinational giants, creating a challenging environment for 宜明昂科-B [10][27]. Group 4: Strategic Implications - The decision to regain rights to the assets allows 宜明昂科-B to explore new partnerships and strategies without being constrained by previous agreements, although it also means assuming all associated risks and costs [15][33]. - The company plans to target multinational corporations for future business development while also considering partnerships with mid-sized companies [29][33]. Group 5: Financial Considerations - Despite receiving $35 million from the previous collaboration, the funds are insufficient to cover the long-term costs of global clinical development for the two drugs [30][31]. - 宜明昂科-B has reported continuous losses from 2023 to 2025, with increasing R&D expenditures, indicating significant financial pressure moving forward [30][31].