Core Viewpoint - Watson Bio has applied for clinical trials for its mRNA vaccine targeting respiratory syncytial virus (RSV), marking a significant step in its vaccine development efforts [1] Group 1: Vaccine Development and Market Position - Watson Bio, in collaboration with Fudan University and Shanghai Bluebird Biopharmaceuticals, has developed an mRNA vaccine for RSV, which has been accepted for clinical trial application by the National Medical Products Administration [1] - Currently, three RSV vaccines have been approved overseas, while no RSV vaccines have been approved for sale in China [1] - The global sales revenue for RSV vaccines is projected to be approximately $4 billion for the 2023-2024 period [1] Group 2: Financial Performance - In 2024, Watson Bio's revenue is expected to be 2.821 billion yuan, a year-on-year decline of 31.41%, with a net profit of 142 million yuan, down 66.10% [2] - The first quarter of this year saw revenue of 462 million yuan, a decrease of 22.93%, and a net profit of 2.6462 million yuan, down 81.27% year-on-year [2] - The company reported a reduction of 170 million yuan in vaccine sales and government subsidies compared to the previous year [2] Group 3: Future Development Plans - The company aims to enhance existing products and develop higher-valent vaccines for pneumococcal, meningococcal, and HPV, while also expanding the target population [3] - Watson Bio plans to accelerate the development of innovative vaccines, focusing on RSV, shingles, and a combined COVID-19 and influenza mRNA vaccine [3] - Over the next decade, the company aims to launch several new products, including a quadrivalent meningococcal vaccine, a nine-valent HPV vaccine, and the RSV vaccine [3]

Core Viewpoint - Watson Bio has applied for clinical trials of its respiratory syncytial virus (RSV) mRNA vaccine, which has been accepted by the National Medical Products Administration of China [1] Group 1: Company Developments - The vaccine is a joint development by Watson Bio, Fudan University, Shanghai Bluebird Biopharmaceuticals, and its subsidiaries [1] - The application for clinical trials has received an acceptance notice, indicating progress in the vaccine's development [1] Group 2: Market Context - Currently, three RSV vaccines have been approved and launched internationally: GSK's Arexvy, Pfizer's Abrysvo, and Moderna's mRESVIA [1] - There are no approved RSV vaccines in the domestic market, highlighting a potential opportunity for Watson Bio [1] - The global sales of RSV vaccines are projected to be approximately $4 billion for the 2023-2024 fiscal year [1] Group 3: Regulatory Environment - Following the acceptance of the clinical trial application, the vaccine will undergo technical review by the National Medical Products Administration, with approval required before clinical trials can commence [1] - The review and approval process carries a degree of uncertainty [1]

近日，美国疫苗制造巨头莫德纳（Moderna）宣布，将裁减约10%的员工，以应对疫苗销售下降带来的财务压力。随后，该公司股价应声跳水，连续大 跌。 公司股价已跌超90% CEO：我们尽了一切努力避免影响就业 莫德纳首席执行官Stephane Bancel在致员工的信中表示："我们尽了一切努力避免影响就业，但今天，重塑我们的运营结构，确保成本结构与业务实际相 匹配，是保持专注和财务纪律的必要举措，同时继续加大对科研的投资，朝着2027年目标迈进。" | | | 随着疫苗销售收入下降，莫德纳正在采取措施削减成本。就在上个月，莫德纳突然宣布，由于全球及日本商业环境发生变化，将取消在日本建设mRNA药 物生产工厂的计划。今年5月，莫德纳表示，到2027年，将把年度运营支出削减约15亿美元。 公司正面临重重危机 仍执着于研发新一代新冠疫苗 福无双至，祸不单行。除了财务危机，莫得纳还面临的另一挑战——由于美国卫生部长罗伯特·F·肯尼迪对疫苗的批评，导致美国卫生官员在政策上发生 变化。 例如，美国卫生部门已撤销关于儿童和孕妇接种某类疫苗的长期建议，缩小了莫德纳最新版某类疫苗的适用范围，同时终止了该公司开发禽流感疫苗的合 同 ...

Core Viewpoint - Zhonghui Biotech-B (02627) is set to launch an initial public offering (IPO) from July 31 to August 5, 2025, aiming to issue 33.44 million H-shares globally, with 10% allocated for Hong Kong and 90% for international investors, at a price range of HKD 12.9 to HKD 15.5 per share [1] Group 1 - The company is a China-based vaccine manufacturer focused on the research, development, and commercialization of innovative vaccines and traditional vaccines using new technologies [1] - The product pipeline includes two core products: a quadrivalent influenza virus subunit vaccine and an investigational freeze-dried human rabies vaccine, along with 11 other vaccines in development [1] Group 2 - The cornerstone investors, including Jiaxing Xinyang and Huatai Capital Investment, have agreed to subscribe for shares worth USD 13 million, with an estimated total of 7.1136 million H-shares to be purchased at a midpoint price of HKD 14.20 per share [2] - This subscription represents approximately 21.3% of the total shares offered in the global sale, assuming no exercise of the over-allotment option [2] Group 3 - The net proceeds from the global offering are estimated to be around HKD 421 million after deducting underwriting fees and expenses, with approximately 63.6% allocated to the development and registration of core products [3] - Specific allocations include about 32.4% for the continued R&D and overseas registration of the quadrivalent influenza virus subunit vaccine, and about 31.2% for the Phase III clinical trials and registration of the investigational freeze-dried human rabies vaccine [3] - Additional funds will be used for the development of other investigational vaccines, enhancement of production and commercialization capabilities, and the development of various technological platforms [3]

江蘇中慧元通生物科技股份有限公司 Ab&B Bio-Tech CO., LTD. JS 全球發售 聯席保薦人、整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席賬簿管理人兼聯席牽頭經辦人 Ab&B Bio-Tech CO., LTD. JS 江蘇中慧元通生物科技股份有限公司 重要提示 （於中華人民共和國成立的股份有限公司） 股份代號 : 2 6 2 7 重要提示：閣下如對本招股章程的任何內容有任何疑問，應尋求獨立專業意見。 Ab&B Bio-Tech CO., LTD. JS 江蘇中慧元通生物科技股份有限公司 （於中華人民共和國成立的股份有限公司） 全球發售 全球發售項下的發售股份數目 33,442,600股H股（視發售量調整權 行使與否而定） 香港發售股份數目 3,344,400股H股（可予重新分配） 國際發售股份數目 30,098,200股H股（可予重新分配及 視發售量調整權行使與否而定） 最高發售價 每股H股15.50港元，另加1.0%經紀 佣金、0.0027%證監會交易徵費、 0.00565%聯交所交易費及 0.00015%會財局交易徵費（須於申請 時以港元繳足，多繳股款可予退還） 面值 ...

Group 1: Control Change and Share Transfer - Wan Kexin Bio acquired a total of 28.46638 million shares from Wang Zhentao, Aokang Group, and Kangyue Qiming, resulting in a voting rights proportion of 29.9893% [2][3] - The controlling shareholder will change from Wang Zhentao to Wan Kexin Bio, which has no actual controller [3] - The control change requires antitrust review and compliance audit by the Shenzhen Stock Exchange, which is currently in progress [3] Group 2: Norovirus Vaccine Development - The company signed an exclusive licensing agreement with HilleVax for the development and commercialization of a six-valent norovirus vaccine outside of China [4] - Domestic clinical trial approval for the six-valent norovirus vaccine has been obtained, with ongoing efforts to expedite both domestic and international market entry [4] Group 3: Rabies Vaccine Market Situation - In 2024, there were 143 reported rabies deaths in China, highlighting the critical demand for post-exposure rabies vaccination [5] - Approximately 40 million people are exposed to rabies annually in China, with a vaccination rate of only 35%, indicating significant room for improvement [5] - Three types of rabies vaccines are approved in China, with Vero cell vaccines dominating the market, followed by human diploid and mouse kidney cell vaccines [5] Group 4: Marketing and Brand Strategy - The company aims to leverage its established product reputation and market channels to enhance brand influence and market competitiveness [6][7] - Plans include adjusting marketing management structures, expanding the marketing team, and enhancing professional training to improve collaborative capabilities [7]

Group 1 - Valiant Biotech-B's dark market saw a maximum increase of 134.28%, reflecting market recognition of its antibody drug development pipeline in oncology and autoimmune diseases [1] - The company has one core product and 13 other candidates, with 6 having successfully entered clinical stages [1] - Long-term value will depend on the commercialization capabilities of new drugs [1] Group 2 - Hengrui Medicine's subsidiary received approval for clinical trials of HRS-1893 tablets, a selective myosin inhibitor aimed at treating heart failure with preserved ejection fraction [2] - The project has accumulated R&D investment of approximately 60.67 million yuan [2] - If clinical trials proceed successfully, it could become the first drug in this unmet clinical need, enhancing the company's competitiveness [2] Group 3 - 3SBio announced the formal effectiveness of a licensing agreement with Pfizer for the global development and commercialization rights of the PD-1/VEGF bispecific antibody SSGJ-707, excluding mainland China [3] - The agreement includes a total option and exercise fee of up to 150 million USD [3] - This partnership allows 3SBio to leverage Pfizer's resources for accelerated project development and commercialization [3] Group 4 - Zhonghui Yuantong updated its prospectus, indicating that its core products have been commercialized, alongside 11 vaccines in development [4] - The company has raised a total of 999.5 million yuan through three rounds of financing from notable investors [4] - The upcoming Hong Kong listing is expected to accelerate R&D and market expansion in the vaccine sector [4] Group 5 - Eddingpharm received approval for the registration and commercialization of multi-dose diquafosol sodium eye drops in China, which contains 3% diquafosol sodium [5] - The product is intended for the treatment of dry eye syndrome [5] - This approval enhances the treatment options for dry eye disease and is expected to contribute to the company's growth in the ophthalmic market [5]

Core Viewpoint - The company Olin Bio (688319.SH) announced a plan for its controlling shareholder, Shanghai Wushan Biotechnology Co., Ltd., to reduce its stake by up to 12.178 million shares, representing no more than 3% of the total share capital, due to funding needs [1][2] Group 1: Shareholder Actions - Shanghai Wushan plans to cash out over 200 million yuan from the share reduction based on the closing price of 22.11 yuan per share on July 23 [2] - The actual controllers of Olin Bio, Fan Shaowen and Fan Fan, along with board member Chen Aimin, have committed not to participate in this reduction [1][2] - The shares to be reduced were acquired before the company's IPO, indicating a long-term holding period [2] Group 2: Financial Performance - Olin Bio's stock price has increased over 100% year-to-date, with market capitalization rising from approximately 4.3 billion yuan to about 9 billion yuan [2] - The company reported a revenue of 87.49 million yuan in Q1, a year-on-year increase of 23.6%, while the net profit attributable to shareholders was a loss of 7.07 million yuan, which has narrowed compared to the previous year [3] - For 2024, the company expects revenue and net profit to grow by 18.69% and 18.24% respectively, with a significant increase in non-recurring net profit projected at 230.01% [3] Group 3: Product Pipeline - Olin Bio's main commercial product is the adsorbed tetanus vaccine, with additional products including Hib combination vaccine and AC combination vaccine already approved for market [3] - The company is conducting a Phase III clinical trial for its recombinant pneumococcal vaccine, with 5,000 out of 6,000 planned participants already enrolled [3] - The company has also received approval for clinical trials of its oral recombinant Helicobacter pylori vaccine and trivalent and quadrivalent influenza virus vaccines [3]

Core Viewpoint - The article discusses the sale of a vaccine company by Wang Zhentao, the founder of Aokang International, highlighting the challenges faced by the vaccine market and the strategic decision to divest from a declining business [1][3][21]. Group 1: Transaction Details - Wang Zhentao and his associates sold their shares in Kanghua Biological to Shanghai Wankexin Biological for a total of 1.85 billion yuan [1]. - The acquisition involves a performance-based agreement requiring a total net profit of no less than 728 million yuan for the years 2025 and 2026, along with a minimum R&D investment of 260 million yuan [5][6]. - If performance targets are not met, Wang Zhentao and Aokang Group must compensate the difference in cash [6]. Group 2: Company Performance - Kanghua Biological's core product, the freeze-dried human rabies vaccine, has seen a significant decline in market performance, with the number of vaccine batches issued dropping over 40% in 2024 [9]. - The company's revenue for 2024 was approximately 1.43 billion yuan, a decrease of 9.23% from the previous year, while net profit fell by 21.71% to around 400 million yuan [10]. - The company’s market capitalization has shrunk to below 10 billion yuan, reflecting a broader decline in performance [10][17]. Group 3: Background of Wang Zhentao - Wang Zhentao, known as the founder of "China's first men's shoe stock," ventured into the vaccine industry with an investment of 800 million yuan, but faced challenges in this new field [2][16]. - His attempts to innovate within the vaccine sector, including the development of new vaccines, have not yielded significant results, leading to the decision to exit the business [11][13]. - Wang's financial situation is under pressure, with high levels of share pledges in both Aokang International and Kanghua Biological, indicating a need for liquidity [21][22]. Group 4: Market Context - The vaccine market has become increasingly competitive, with new technologies and production capabilities leading to a decline in Kanghua Biological's market position [9][23]. - Aokang International has also faced difficulties, with a reported cumulative loss of 683 million yuan over the past three years, contributing to Wang's decision to divest from Kanghua Biological [24][30].

Group 1 - The company announced that its wholly-owned subsidiary, Jinyu Baoling, received clinical trial approval for an African swine fever subunit vaccine from the Ministry of Agriculture and Rural Affairs [1] - The vaccine is jointly developed by the Institute of Biophysics of the Chinese Academy of Sciences and China National Pharmaceutical Group Animal Health Co., Ltd., with Jinyu Baoling as the clinical trial undertaking unit [1] - The total research and development investment for the project is approximately 64 million yuan [1] Group 2 - Due to the complexity of the immune mechanism of the African swine fever virus, there is a risk of failure in the clinical trials [1] - The vaccine must complete clinical trials and obtain registration approval before it can be marketed and sold [1] - The company will monitor subsequent developments and fulfill its information disclosure obligations [1]