蓝晓科技作为国内固相合成载体领域的核心突破者，已构建覆盖小核酸（siRNA/ASO）与多肽药物"合成—纯 化"全链条的技术平台，其自主研发的氨基载体、羧基载体预载、Unylinker、预载GalNAc与C6等固相合成材 料，配合反相与离子交换色谱填料，实现从高难度寡核苷酸合成到结构相似杂质分离的一体化解决方案，全球 仅两家供应商具备此能力，蓝晓科技为其中之一；公司依托与头部药企近十年的深度联合研发，积累海量工艺 数据，并于2025年新增西安3000㎡中试实验室，规划投资11.5亿元建设GMP/类GMP标准生科产业园，同步在 瑞典设立子公司，引进包括琼脂糖软胶专家HansJohansson在内的20余位国际专家，全面强化全球技术协同与 产业化能力，推动生命科学板块成为公司最强劲的增长引擎。 联化科技依托成熟的小分子CDMO体系，快速延伸至小核酸业务布局 点击注册小程序 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问 ...

Group 1 - The small nucleic acid industry is expected to enter its first explosive growth cycle in 2025, with commercialization progress and new platform validations exceeding market expectations [1] - Alnylam's drug AMVUTTRA for treating ATTR is projected to become the first small nucleic acid drug with sales exceeding $2 billion this year [1] - Ionis's drug for treating sHTG saw a 35% stock price increase after positive data was released in September, with key phase 3 data and commercialization progress in 2026 being noteworthy [1] Group 2 - Arrowhead is focusing on weight loss and CNS projects leveraging its leading liver-external Trim platform, with the first commercial product for treating FCS, Plozasiran, expected in November [1] - The acceleration of small nucleic acid drug commercialization is driving continuous growth in demand for related raw materials and outsourced R&D [1] - The sentiment in the pharmaceutical sector is currently low, but upcoming data releases from the ASH conference, new medical insurance catalogs, and the first version of the commercial health insurance innovative drug catalog are expected to improve the outlook for innovative drugs, CXO, and the medical device industry [1] Group 3 - The vaccine ETF (159643) tracks the vaccine biotech index (980015), which selects listed companies involved in vaccine development, production, and sales, reflecting the overall performance of the vaccine sector within the biopharmaceutical industry [1] - This index exhibits high growth potential and strong specialization characteristics [1]