科技日报北京1月1日电 （记者张佳欣）据《科学进展》杂志1日报道，英国弗朗西斯·克里克研究所 与瑞士生物技术公司AlveoliX联合团队，开发出首个基因一致的人源"肺芯片"模型。该芯片利用来自同 一名供体的干细胞，可模拟个体肺泡的呼吸动作和感染反应，为结核病等呼吸道疾病的个性化治疗提供 了新工具。 肺泡是肺部进行气体交换的关键部位，同时也是抵御吸入性病毒和细菌的重要屏障。长期以来，科学家 一直试图在实验室重现人体细胞与病原体之间的"交锋"，方法之一便是构建肺芯片，即在塑料芯片上集 成微小通道和隔室，形成微缩的人体肺组织单元。然而，以往的肺芯片多由患者来源细胞与商业化细胞 混合构成，难以完全再现单一个体的肺功能和疾病进程。 随后，团队将由同一供体干细胞分化的巨噬细胞加入芯片，再引入结核分枝杆菌，模拟疾病早期过程。 结果显示，感染后的芯片内形成大规模巨噬细胞簇，中心出现"坏死核心"，即死亡的巨噬细胞，外围环 绕着仍存活的细胞。感染5天后，上皮和内皮细胞屏障坍塌，肺泡功能受损，生动再现了感染早期的病 理特征。 结核病从感染到出现症状往往需要数月，早期变化难以观察。新芯片成功模拟感染初期的肺部反应，为 理解疾病进展提 ...

龙丰集团的资产负债表显示，公司资产结构正在经历显著调整。非流动资产从2023年的8.91亿港元持续下降至2025上半年的5.77亿港元，降幅达35.2%。与 此同时，流动资产则从2.88亿港元大幅增长至7.35亿港元，增幅达155.2%。 11月28日，扎根香港30年的龙丰集团控股有限公司（简称"龙丰集团"）正式向香港联合交易所递交主板上市申请，星展亚洲融资担任独家保荐人。 根据弗若斯特沙利文的报告，龙丰集团以5.2%的市场份额成为香港最大药品零售商，按平均单店SKU计算亦为香港最大药妆零售商。这一双重"最大"的头衔 背后，是其对香港消费者需求的深刻理解和长达三十年的精准布局。 三年从亏损到盈利的逆袭背后 招股书显示，作为以"龙丰"品牌营运的连锁零售药妆百货营运商，该公司通过29间香港零售店铺及多平台线上渠道开展业务，根据弗若斯特沙利文报告，其 2024年以5.2%市场份额成为香港最大药品零售商，按平均单店SKU计亦为香港最大药妆零售商。 业务布局方面，龙丰集团线下门店网络覆盖香港战略位置，5间位于香港岛、10间位于九龙、14间位于新界，多数为街铺形式。其中旺角家乐坊旗舰店总楼 面面积约17,500平方呎，为 ...

11月28日，扎根香港30年的龙丰集团控股有限公司(简称"龙丰集团")正式向香港联合交易所递交主板上市申请，星展亚洲融资担任独家保荐人。 根据弗若斯特沙利文的报告，龙丰集团以5.2%的市场份额成为香港最大药品零售商，按平均单店SKU计算亦为香港最大药妆零售商。这一双重"最大"的头衔 背后，是其对香港消费者需求的深刻理解和长达三十年的精准布局。 三年从亏损到盈利的逆袭背后 盈利方面，2023财年，公司尚处于亏损状态，税前溢利为负2520.7万港元；而到了2025财年，税前溢利已达2.18亿港元，实现了惊人的逆转。2026财年第一 季延续了这一良好势头，税前溢利5993.2万港元，同比增长超过100%。 龙丰集团的资产负债表显示，公司资产结构正在经历显著调整。非流动资产从2023年的8.91亿港元持续下降至2025上半年的5.77亿港元，降幅达35.2%。与 此同时，流动资产则从2.88亿港元大幅增长至7.35亿港元，增幅达155.2%。 值得关注的是，报告期内，龙丰集团的流动负债净额持续为负，分别为-7.94亿元、-6.74亿元、-6.44亿元及-3.32亿港元。这意味这公司存在短期偿债风险。 即流动资产长期无 ...

项目负责人伊万·马丁教授表示："尽管小鼠模型为骨髓研究奠定了基础，但人类与动物的生物学差异显 著。新模型能更精准地模拟人体造血机制，尤其在疾病建模和药物筛选中具有不可替代的优势。" 团队成员安德烈斯·加西亚博士补充道，该系统有望减少血癌研究中对动物试验的依赖，符合科研伦理 中"替代、减少、完善"的原则。不过，当前模型尺寸较大，若用于高通量药物测试，需进一步微型化以 适应多化合物并行实验的需求。 这项研究不仅为血液疾病机制探索提供了新工具，更标志着人类在体外模拟复杂器官功能领域迈出了关 键一步。未来，该技术或可拓展至个性化医疗领域。通过提取患者自身细胞构建专属骨髓模型，医生能 提前测试不同疗法的效果，为血癌患者定制最优治疗方案。团队强调，这一应用目前仍需克服技术瓶 颈，距离临床落地尚需时日。（记者张梦然） 瑞士巴塞尔大学研究团队在最新一期《细胞·干细胞》上发表了一项突破性成果：他们首次在实验室中 用人类细胞构建出高度仿真的三维骨髓组织模型。该模型完整复现了骨髓中血管、骨细胞、神经及免疫 细胞等复杂结构，为血癌研究、药物测试及替代动物试验提供了全新平台。 骨髓作为人体"血液工厂"，其内部由多种细胞构成的微环境对血 ...

Core Insights - A research team from the University of Basel has developed a highly realistic three-dimensional bone marrow tissue model using human cells, marking a significant advancement in the field of blood cancer research and drug testing [2][3] - The new model replicates the complex structures of bone marrow, including blood vessels, bone cells, nerves, and immune cells, providing a new platform for research that overcomes the limitations of traditional animal models and simplified two-dimensional cell cultures [2][4] Summary by Sections - **Research Breakthrough**: The model is constructed using hydroxyapatite as a scaffold combined with induced pluripotent stem cells, allowing for the cultivation of a three-dimensional bone marrow tissue that closely resembles human tissue in both cellular composition and spatial structure [2] - **Implications for Blood Cancer Research**: The model can maintain human blood generation activity for several weeks, offering a more accurate simulation of human hematopoiesis, which is crucial for disease modeling and drug screening [2][3] - **Ethical Considerations**: This system is expected to reduce reliance on animal testing in blood cancer research, aligning with the principles of "replacement, reduction, refinement" in scientific research ethics [2] - **Future Applications**: The technology may extend to personalized medicine, allowing for the creation of patient-specific bone marrow models to test various therapies, although technical challenges remain before clinical application can be realized [3][4] - **Potential Impact on Biomedical Research**: This advancement represents a milestone in regenerative medicine and translational research, potentially addressing ethical dilemmas and time constraints in drug development [4]

Core Insights - A research team from the University of Basel has developed a highly realistic 3D bone marrow tissue model using human cells, which replicates the complex structures found in bone marrow, providing a new platform for blood cancer research, drug testing, and reducing reliance on animal testing [1][2]. Group 1: Research and Development - The new model utilizes hydroxyapatite as a scaffold combined with induced pluripotent stem cells, allowing for the cultivation of a 3D bone marrow tissue that maintains human blood generation activity for several weeks [1]. - The model's dimensions are 8 millimeters in diameter and 4 millimeters in thickness, closely resembling the cellular composition and spatial structure of real human tissue [1]. Group 2: Implications for Medicine - This research marks a significant advancement in the field of regenerative medicine and translational research, potentially transforming disease research, high-throughput drug screening, and personalized treatment [2][3]. - The technology may enable the creation of personalized bone marrow models from patients' own cells, allowing doctors to test various therapies in advance to tailor optimal treatment plans for blood cancer patients [2]. Group 3: Ethical Considerations - The new model aligns with the ethical principles of "replacement, reduction, and refinement" in research, aiming to decrease the dependence on animal testing in blood cancer studies [1][3].

Summary of Oculis Holding Conference Call Company Overview - Oculis Holding is an ophthalmology company that has transitioned to include neuro-ophthalmology as a key focus area, with two franchises: neuro-ophthalmology and ophthalmology [2][4] Key Programs and Indications Neuro-Ophthalmology - **Privosegtor**: A product showing promising results in treating acute optic neuritis, which is often a relapse of multiple sclerosis (MS). The product demonstrated an 18-letter improvement in visual function at three months compared to placebo plus steroid, and a 15-letter improvement at six months [8][9] - **Market Potential**: The total population of optic neuropathies in the US is estimated at 60,000-70,000 patients annually, with a potential market size of $7 billion due to the lack of competition [12] Ophthalmology - **DME (Diabetic Macular Edema)**: Oculis has two candidates in phase three trials, with the first eye drop for DME expected to read out in Q2 2026. The product targets two segments: early first-line patients (60% of diagnosed DME) and those not responding to VEGF treatments (40%) [4][12] Clinical Trials and Regulatory Support - **Pioneer Program**: Includes three clinical trials (Pioneer One, Two, and Three) targeting acute optic neuritis and NAION (Non-Arteritic Anterior Ischemic Optic Neuropathy). The FDA is supportive of the program, recognizing its potential impact [10][38] - **Enrollment and Community Support**: The medical community shows strong interest in participating in trials, with a response rate exceeding 20% from centers approached for participation [31][32] Product Development and Market Strategy - **OCS-01 for DME**: The product is designed to be a topical solution that allows for early intervention, potentially changing patient outcomes significantly compared to existing treatments [66][68] - **OCS-02 for Dry Eye Disease**: This product is being developed as a personalized medicine, targeting TNF-R1 positive patients, which could lead to a more efficient trial process and higher probability of success [96][97] Financial and Business Implications - The company anticipates significant business opportunities from its neuro-ophthalmology products, particularly given the lack of existing treatments and the high unmet medical need [12][38] - The innovative approach to personalized medicine in dry eye disease is expected to enhance market access and pricing strategies [97] Conclusion - Oculis Holding is positioned to make substantial advancements in both neuro-ophthalmology and ophthalmology, with promising clinical data and strong market potential. The company's focus on innovative treatments and personalized medicine could lead to transformative outcomes for patients and significant business growth [12][96]

Core Viewpoint - Hims & Hers Health continues to demonstrate strong growth potential, with significant revenue increases and a robust outlook for future performance [1][11]. Revenue Performance - In Q3, Hims & Hers reported a 49% year-over-year increase in revenue, reaching $599 million, surpassing both its guidance and analyst expectations [2][7]. - Monthly online revenue per subscriber increased by 19% to $80, while the subscriber base grew by 21% to over 2.47 million [3][7]. Subscriber Growth and Transition - The number of customers utilizing personalized treatment plans surged by 50%, with those using at least one personalized subscription rising by 80% to 1.6 million, accounting for over 65% of the subscriber base [4][3]. - Excluding the impact of the transition to personalized treatments, subscriber growth exceeded 40% [3]. Financial Metrics - Adjusted EBITDA increased by 53% from $51.1 million to $78.4 million, while earnings per share (EPS) was reported at $0.06, missing the analyst consensus of $0.09 [6][7]. - Gross margin experienced a decline of 500 basis points year-over-year to 74%, with operating expenses slightly decreasing to 72% of revenue [5][7]. Future Guidance - Hims & Hers narrowed its 2025 revenue forecast to between $2.335 billion and $2.355 billion and adjusted EBITDA guidance to a range of $307 million to $317 million [7]. - For Q4, the company anticipates revenue between $605 million and $625 million, with adjusted EBITDA expected to be between $55 million and $65 million [8]. Strategic Developments - The company is in discussions with Novo Nordisk to potentially offer Wegovy injections and oral Wegovy on its platform, following a previous collaboration that ended earlier this year [9]. Valuation Metrics - The stock trades at a forward price-to-earnings (P/E) ratio of approximately 32.5 for 2026, with a price/earnings-to-growth (PEG) ratio around 1, indicating potential undervaluation [12][13]. - Based on price-to-sales multiples, the stock is valued at 3.6 times 2026 analyst estimates, suggesting attractive valuation given its growth outlook [13].

Core Insights - Hims & Hers Health, Inc. (HIMS) reported a significant decline in earnings per share (EPS) for Q3 2025, with EPS at 6 cents, down 81.3% from 32 cents in the same period last year [1][10]. Revenue Performance - Hims & Hers achieved revenues of $598.9 million in Q3 2025, reflecting a year-over-year increase of 49.2% and surpassing the Zacks Consensus Estimate by 2.6% [2][10]. - Online Revenues contributed significantly, totaling $589.1 million, which is a 50.1% increase year over year [3][10]. - Wholesale Revenues reached $9.9 million, marking a 9.9% year-over-year growth [5]. Subscriber Growth - The company reported a subscriber base of 2.5 million, up 20.7% year over year, driven by increased traffic and improved customer experiences [4][10]. Financial Metrics - Monthly online revenue per average subscriber increased by 19.4% year over year to $80, attributed to personalized offerings and changes in product mix [5]. - Gross profit rose by 39.1% year over year to $442.1 million, although gross margin contracted by 536 basis points to 73.8% [6][10]. - Operating profit fell to $11.8 million, a decline of 47.2% from the previous year, with operating margin contracting by 360 basis points to 1.9% [8][10]. Expense Analysis - Marketing expenses increased by 27.4% year over year to $232.2 million, while technology and development expenses surged by 92.4% to $40.6 million [7]. - General and administrative expenses rose by 80.8% to $80.7 million, and operations and support expenses increased by 61.7% to $76.8 million [7]. Cash Position - At the end of Q3 2025, Hims & Hers had cash and cash equivalents of $629.7 million, down from $1.14 billion at the end of Q2 2025 [9]. Future Outlook - The company projects Q4 2025 revenues between $605 million and $625 million, indicating a year-over-year growth of 26%-30% [12]. - For the full year, Hims & Hers anticipates revenues between $2.335 billion and $2.355 billion, representing a growth of 58%-59% from 2024 levels [12]. Strategic Developments - Hims & Hers launched new health specialties targeting women's health and men's health, and completed the acquisition of ZAVA, expanding its market presence [14]. Overall Assessment - Despite strong revenue growth and subscriber increases, the significant decline in EPS and margin contractions raise concerns about the company's profitability [15].

Core Insights - The article discusses the promising applications of organoid technology in regenerative medicine, particularly focusing on human pluripotent stem cell (hPSC)-derived kidney organoids and their potential for clinical applications in organ transplantation and tissue regeneration [2][3]. Group 1: Research Breakthroughs - Researchers developed a scalable, reproducible, and cost-effective method to generate human kidney organoids from hPSCs, which can differentiate into various kidney cell types [6]. - The study successfully demonstrated the ex vivo transplantation of hPSC-derived kidney organoids into porcine kidneys, marking a significant milestone in regenerative medicine and personalized healthcare [3][10]. Group 2: Methodology and Findings - The research utilized single-cell RNA sequencing, confocal imaging, and CRISPR-Cas9 engineering to analyze the transcriptional diversity and cellular composition of hPSC-kidney organoids [8]. - The hPSC-kidney organoids were perfused into ex vivo pig kidneys using a room-temperature mechanical perfusion technique, confirming the feasibility and effectiveness of this approach for organ transplantation [8][11]. Group 3: Clinical Implications - The study indicates that combining organoids with ex vivo perfusion technology can facilitate controlled conditions for cell therapy, aiming to regenerate or repair organs before transplantation, thereby reducing patient wait times and increasing the availability of healthy organs [10].