Workflow
靶向蛋白降解技术
icon
Search documents
朱雀基金:创新药走向分化 建议重视下一代生物技术及非肿瘤领域创新
Zhong Zheng Wang· 2025-09-15 06:08
Group 1 - The innovative drug sector has become one of the main lines of the market this year, driven by technological spillover from the accumulation of research and development in China over the past two to three years, indicating a long-term optimistic outlook for the industry [1] - With the disclosure of mid-year reports, there is a divergence among innovative drug stocks, where companies with better-than-expected fundamentals and reasonable short-term valuations tend to perform stronger, while those with significantly lower-than-expected earnings show signs of mean reversion [1] - Many biotech and biopharma companies have achieved a revaluation of international estimates this year, with ongoing business development (BD) driving market performance, although some companies may have already reflected optimistic future pipelines, necessitating an assessment of actual realization probabilities [1] Group 2 - The next generation of biotechnologies, such as multi-antibodies, novel antibody-drug conjugates, protein degraders, and RNA drugs, are expected to present more certain high-growth opportunities [2] - The traditional pharmaceutical sector's innovative drug pipelines are beginning to show potential, particularly in non-oncology areas such as immune diseases, metabolism, and neurology, which may also present revaluation opportunities [2] Group 3 - Recent large-scale business development transactions have primarily focused on the oncology sector, but there is an emerging interest in autoimmune therapies, with significant deals expected in the range of $1 billion to $2 billion starting in 2024 [3] - The autoimmune sector is entering a new era of technology iteration, transitioning from monoclonal antibodies to bispecific antibodies, with clinical advancements gaining global attention [3] Group 4 - Targeted protein degradation (TPD) technology is anticipated to become the next technical hotspot following antibody-drug conjugates (ADC) and bispecific antibodies, offering new solutions for targeted disease treatment [4] - The GLP-1 receptor agonists for metabolic weight loss treatment have evolved to target three pathways and are expanding into new markets such as metabolic-associated fatty liver disease (MASH), which has a significant patient population [4] Group 5 - The company will continue to focus on intrinsic value and growth potential, seeking alpha opportunities that can withstand cycles, with a focus on companies that have leading technology layouts, clear overseas growth potential, and high realization rates in research and development [4]
从“不可成药”到“斩草除根” 蛋白药物能否为癌症治疗带来曙光?
Ke Ji Ri Bao· 2025-05-14 23:26
Core Viewpoint - Cancer remains a significant challenge in modern society, with a new revolutionary technology, targeted protein degradation, offering potential solutions for previously "undruggable" targets [1][2]. Group 1: Targeted Protein Degradation Technology - PROTAC (Proteolysis Targeting Chimeras) is an emerging therapeutic strategy that targets and degrades proteins associated with cancer and other diseases, with approximately 3,000 proteins linked to these conditions, but only about 700 are currently druggable [2][3]. - PROTAC operates by briefly binding to the target protein and directing it to the cell's natural degradation system, allowing for efficient and sustained effects with minimal dosage [2][3]. - The mechanism of PROTAC is described as "capture-release," which allows for the complete elimination of pathogenic proteins, addressing multiple disease-causing pathways [2]. Group 2: Clinical Trials and Developments - Since 2019, at least 30 PROTACs have entered clinical trials, primarily targeting cancer, with three PROTACs currently in Phase III trials for breast cancer, prostate cancer, and leukemia [3][4]. - The first PROTAC to enter Phase III trials is vepdegestrant, developed by Arvinas and Pfizer, which has shown to extend disease-free survival in patients with a specific breast cancer mutation compared to standard anti-estrogen therapies [3]. - Other PROTACs in Phase III trials target the androgen receptor in metastatic prostate cancer and the BTK enzyme in chronic lymphocytic leukemia, addressing issues of drug resistance in advanced cancers [3]. Group 3: Limitations and Future Prospects - Despite the promising potential of PROTACs, they face limitations, such as difficulty in targeting membrane-embedded proteins and the risk of unintended degradation of other proteins [4]. - The first approval of a PROTAC is anticipated to be a significant milestone, likely targeting an already druggable cancer-related protein, while true breakthroughs would involve previously untargeted proteins [4]. - Molecular glue is emerging as another potential protein degradation agent, which operates differently from PROTAC by altering the surface of ubiquitin ligases to facilitate protein degradation without direct binding [5].