Core Viewpoint - The company, Innovent Biologics-B (09606), is planning to list on the STAR Market, pending market conditions and necessary approvals, following a successful IPO on the Hong Kong Stock Exchange that raised over HKD 1.5 billion [1] Group 1: Company Developments - Innovent Biologics' stock price increased by 5% in early trading and is currently up 3.41%, trading at HKD 345.6 with a transaction volume of HKD 599 million [1] - The company announced its intention to submit a listing application for DB-1303 (HER2ADC) for endometrial cancer in the U.S. and for breast cancer in China by 2025 [1] - The company is exploring the combination of DB-1305 (TROP2ADC) and bispecific antibodies, leading in global advancements in this area [1] Group 2: Market Insights - According to a report by CICC, the global ADC market is projected to grow from approximately USD 10.4 billion in 2023 to USD 115.1 billion by 2032 [1] - Innovent Biologics' stock price reached a peak of HKD 563.5 in September, marking a maximum increase of 495.67% from its IPO price of HKD 94.6 per share [1] - The company’s DB-1311 (B7-H3ADC) shows potential as a best-in-class treatment for prostate cancer, while DB-1310 (HER3ADC) is expected to follow suit [1]

消息面上，科济药业宣布，赛恺泽(泽沃基奥仑赛注射液，产品编号：CT053，一种靶向BCMA的自体 CAR-T细胞产品)在中国开展的针对胰腺癌(PC)辅助治疗的Ib期注册临床试验研究结果已于2025年欧洲 肿瘤内科学会(ESMO)年会进行壁报展示。该试验为全球首个探索CAR-T细胞疗法用于实体瘤辅助治疗 的概念验证研究。 科济药业-B(02171)早盘涨超9%，截至发稿，涨9.49%，报17.66港元，成交额1195.21万港元。 值得注意的是，9月20日，国家医保局公告宣布，首版商保创新药目录专家评审工作已完成，据悉，包 括科济药业赛恺泽在内的5款CAR-T药物全部通过专家评审，有望进入今年基本医保目录和商保创新药 目录范围。 ...

Core Viewpoint - Kintor Pharmaceutical Co., Ltd. (02171) experienced a significant stock increase of over 9%, reaching HKD 17.66 with a trading volume of HKD 11.95 million, following the announcement of positive clinical trial results for its CAR-T cell therapy targeting pancreatic cancer [1] Group 1: Clinical Trial Results - Kintor announced that the results of its Phase Ib registration clinical trial for the CAR-T cell product CT053 (Zevoracel) targeting BCMA in the treatment of pancreatic cancer have been presented at the 2025 European Society for Medical Oncology (ESMO) annual meeting [1] - This trial is noted as the first global study exploring CAR-T cell therapy for adjuvant treatment in solid tumors, marking a significant milestone in the field [1] Group 2: Insurance and Reimbursement Developments - On September 20, the National Healthcare Security Administration announced the completion of expert review work for the first version of the commercial insurance innovative drug catalog [1] - Kintor's Zevoracel, along with four other CAR-T drugs, successfully passed the expert review and is expected to be included in this year's basic medical insurance catalog and commercial insurance innovative drug catalog [1]

Core Viewpoint - Corning Jereh Pharmaceutical-B (09966) announced the research progress of JSKN003, which was presented at the 2025 ESMO conference from October 17 to October 21, 2025 [1] Group 1: Product Development - JSKN003 is a targeted HER2 bispecific ADC that connects a topoisomerase I inhibitor to the N-glycosylation site of the KN026 antibody using glycosylation point coupling technology [1] - The coupling reaction of the click reaction conjugate shows better serum stability compared to the maleimide-Michael reaction conjugate [1] - Targeting HER2 bispecificity allows JSKN003 to have stronger endocytic activity and bystander killing effect, demonstrating significant anti-tumor activity in HER2-expressing tumors [1] Group 2: Licensing and Clinical Trials - In September 2024, the company entered into a licensing agreement with Shanghai Jinmant Biotechnology Co., Ltd. to develop, sell, and commercialize JSKN003 in mainland China for tumor-related indications [1] - Currently, three Phase III clinical trials for JSKN003 are ongoing, targeting HER2+ breast cancer, HER2-low expressing breast cancer, and PROC [1]

Core Viewpoint - Kolon Biotech Inc. (06990) experienced a significant increase in stock price, rising by 5.37% to HKD 483, with a trading volume of HKD 1.5939 million, following the announcement of multiple clinical research results at the 2025 European Society for Medical Oncology (ESMO) conference held in Berlin from October 17 to 21 [1]. Group 1 - Kolon Biotech announced the presentation of several clinical research results at the ESMO conference [1]. - The research included data on targeted antibody-drug conjugates (ADCs) such as sac-TMT (佳泰莱), A166 (舒泰莱), and SKB315 [1]. - The focus of the studies was on TROP2, HER2, and Claudin18.2 [1].

消息面上，科伦博泰生物-B发布公告，本公司已在于10月17日至21日在德国柏林举行的2025年欧洲肿瘤 内科学会(ESMO)大会上公布多项临床研究成果，涵盖靶向人滋养细胞表面抗塬2(TROP2)抗体偶联药物 (ADC)芦康沙妥珠单抗(sac-TMT)(佳泰莱)、靶向人类表皮生长因子受体2(HER2)ADC博度曲妥珠单抗(亦 称A166)(舒泰莱)以及Claudin18.2 (CLDN18.2) ADC SKB315的相关数据。 智通财经APP获悉，科伦博泰生物-B(06990)高开逾5%，截至发稿，涨5.37%，报483港元，成交额 159.39万港元。 ...

Core Insights - The company announced the presentation of preliminary data from its Phase I clinical study of CS2009 (a PD1/VEGF/CTLA-4 trispecific antibody) at the 2025 European Society for Medical Oncology (ESMO) annual meeting [1] - The company also revealed the design of its Phase Ib clinical study for CS5001 (a ROR1 antibody-drug conjugate) [1] Summary by Categories - **Clinical Research Updates** - Preliminary data for CS2009 was presented for the first time at a major oncology conference [1] - The design of the Phase Ib clinical study for CS5001 was disclosed [1]

Core Viewpoint - The announcement highlights the collaboration between Shanghai Jinmant Biotech Co., Ltd. and Jiangsu Kanion Pharmaceutical Co., Ltd. for the development of JSKN003, a targeted HER2 bispecific antibody-drug conjugate, which has received breakthrough therapy designation from the National Medical Products Administration for treating HER2-positive advanced colorectal cancer patients who have failed previous treatments [1] Group 1 - The drug JSKN003 is specifically indicated for use as a monotherapy in patients with HER2-positive advanced colorectal cancer who have previously failed treatments with oxaliplatin, fluorouracil, and irinotecan [1] - The breakthrough therapy designation signifies the potential of JSKN003 to offer significant benefits over existing therapies for the targeted patient population [1]

Core Insights - The company Kogei Pharmaceutical-B (02171) announced the results of its clinical trial for the CAR-T cell therapy candidate, Shurui Jiao Lun Sai Injection (CT041), targeting Claudin18.2 for pancreatic cancer, which will be presented at the 2025 ESMO annual meeting [1][2] Group 1: Product Overview - Shurui Jiao Lun Sai Injection is a potential first-in-class autologous CAR-T cell therapy targeting Claudin18.2 protein, primarily for treating Claudin18.2 positive solid tumors, including gastric and pancreatic cancers [2] - Ongoing trials include various phases for different indications, such as advanced gastric/esophageal junction adenocarcinoma and adjuvant therapy for pancreatic cancer [2] Group 2: Regulatory Milestones - On June 25, 2025, the National Medical Products Administration (NMPA) of China accepted the New Drug Application (NDA) for Shurui Jiao Lun Sai Injection for treating Claudin18.2 positive advanced gastric/esophageal junction adenocarcinoma patients who have failed at least second-line treatment [3] - The product received priority review status from the NMPA in May 2025 and was designated as a breakthrough therapy by the NMPA in March 2025 [3] - In January 2022, the product was granted Regenerative Medicine Advanced Therapy (RMAT) designation by the FDA in the United States for treating Claudin18.2 positive advanced gastric/esophageal junction adenocarcinoma [3]

Core Viewpoint - The announcement by Kintor Pharmaceutical regarding the clinical trial results of its CAR-T cell therapy candidate targeting Claudin18.2 for pancreatic cancer has significant implications for the company's future in oncology treatments [1][2]. Group 1: Clinical Trials and Research - The clinical trial CT041-ST-05, focusing on the use of Claudin18.2-targeted CAR-T cells for adjuvant therapy in high-risk pancreatic cancer, was presented at the 2025 ESMO annual meeting [1]. - Multiple clinical trials are underway for the candidate, including studies for advanced gastric/esophageal junction adenocarcinoma and pancreatic cancer, indicating a broad application of the therapy [2]. Group 2: Regulatory Approvals and Designations - The National Medical Products Administration (NMPA) in China accepted the New Drug Application (NDA) for the therapy on June 25, 2025, for treating advanced gastric/esophageal junction adenocarcinoma [3]. - The therapy has received priority review status and breakthrough therapy designation from the NMPA, highlighting its potential significance in treating patients who have failed at least second-line therapy [3]. - In the United States, the therapy was granted Regenerative Medicine Advanced Therapy (RMAT) designation and orphan drug status by the FDA, further emphasizing its innovative nature and potential market impact [3].