Core Points - The Sci-Tech Innovation 50 Index experienced a decline of 0.94% on October 16, closing at 1416.58 points, with a trading volume of approximately 741.7 billion yuan [1] - The majority of stocks on the Sci-Tech board fell, with only 106 stocks rising, indicating a bearish market sentiment [1] - In terms of sector performance, biopharmaceuticals and healthcare stocks saw gains, while software services, components, and semiconductors faced significant declines [1] Trading Activity - The average decline for the 588 stocks on the Sci-Tech board, excluding one suspended stock, was 1.23%, with an average turnover rate of 2.74% and a total trading volume of 197.9 billion yuan [1] - The average volatility for the stocks was 4.28%, reflecting a relatively active trading environment [1] Individual Stock Performance - The top-performing stock was Yingjixin, which increased by 14.24%, while Huana Pharmaceutical saw the largest drop at 9.22% [1] - In terms of trading volume, Hanwujing led with a turnover of 12.41 billion yuan, while ST Guandian had the lowest turnover at 651.3 million yuan [1] Turnover Rates - The highest turnover rate was recorded by Saifen Technology at 31.31%, while Longteng Optoelectronics had the lowest at 0.17% [2]

格隆汇10月16日丨生物制药公司赛多利斯欧股股价延续涨势，目前上涨11%，有望创下自一月份以来最 佳单日表现。 ...

Core Insights - Heilongjiang is undergoing a profound transformation aimed at revitalization and development, focusing on integrating into a new development pattern with emerging industries such as digital economy, bio-economy, ice and snow economy, and creative design driving industrial transformation and high-quality growth [1][2] Digital Economy - Heilongjiang has established the digital economy as a new growth engine during the 14th Five-Year Plan, with a total of 430 provincial-level digital workshops and smart factories cultivated [2] - Notable companies like Feihe Dairy and Hengfeng Paper have been recognized as national "digital leading" enterprises, showcasing the province's leadership in industrial digital transformation [2] - The establishment of unique platforms for artificial intelligence and innovation highlights Heilongjiang's emergence as a regional hub for digital innovation [2] Bio-Economy - The bio-economy in Heilongjiang is characterized by innovative technologies that convert agricultural by-products into valuable products, exemplified by Mingrui Pharmaceutical's wood sugar alcohol production from corn [2][3] - A comprehensive bio-economy system has been developed, covering stem cells, biomedicine, and green manufacturing, supported by significant investments in key projects [3] Ice and Snow Economy - The ice and snow economy has become a new engine for high-quality development, with record tourist numbers and ongoing growth in related industries [3] - The transformation of ice and snow resources into a year-round economic driver reflects the province's strategic focus on leveraging its natural assets [3] Creative Design Industry - The creative design industry in Heilongjiang has seen substantial growth, with over 20,000 operating entities and revenue increasing from over 4.6 billion yuan in 2021 to nearly 14.4 billion yuan in 2024, marking over a 200% increase [4] - The development of the creative design sector is a crucial part of Heilongjiang's industrial revitalization strategy, aiming for a diversified and high-quality economic structure by 2026 [4]

Core Viewpoint - Yiming Anke-B (01541.HK) has successfully completed a placement agreement, raising approximately HKD 345.1 million for various research and operational purposes [1] Group 1: Placement Details - The placement involved the successful allocation of 24.2 million shares at a price of HKD 14.50 per share, representing about 5.94% of the company's issued share capital prior to the placement [1] - The shares allocated account for approximately 6.11% of the total issued H-shares before the placement and about 5.61% and 5.76% of the issued share capital and H-shares, respectively, after the placement [1] Group 2: Use of Proceeds - Approximately 40% of the net proceeds will be allocated to fund the research and development of IMM2510 and IMM27M for the treatment of solid tumors [1] - About 20% will be used for the development of IMM01 (Tideglusib) [1] - Approximately 10% will be directed towards the research of IMM0306 [1] - The remaining 30% will be utilized to supplement the company's working capital and for general corporate purposes [1]

Core Viewpoint - The pharmaceutical stocks continue to rise, reflecting positive market sentiment and investor interest in the sector [1] Group 1: Stock Performance - Zai Lab Limited (荃信生物-B, 02509.HK) increased by 7.04%, reaching HKD 29.2 [1] - Junshi Biosciences (复宏汉霖, 02696.HK) rose by 6.84%, trading at HKD 75 [1] - I-Mab (映恩生物-B, 09606.HK) saw a gain of 5.41%, with shares priced at HKD 331 [1] - Rongchang Biologics (荣昌生物, 09995.HK) experienced a 5.53% increase, now at HKD 96.3 [1] - CanSino Biologics (康方生物, 09926.HK) grew by 5.25%, with a share price of HKD 128.4 [1]

据介绍，宜明昂科开发的新一代CTLA-4抗体泰泽苏拜单抗(tazlestobart，IMM27M)通过清除肿瘤微环境 中的Treg细胞而发挥抗肿瘤疗效。目前宜明昂科正积极推进泰泽苏拜单抗的临床开发。泰泽苏拜单抗 (tazlestobart，IMM27M)是宜明昂科公司自主研发的新一代CTLA-4抗体，通过基因工程技术加强了 ADCC活性，可以全面清除肿瘤微环境中的Treg细胞。IMM27M是一种针对Treg细胞的创新药物，其主 要作用机制是通过靶向Treg细胞上的特定分子CTLA-4，调节其功能或数量，从而增强免疫反应。 消息面上，据宜明昂科-B官微消息，近日，玛丽.E.布伦科等三位科学家被授予2025年诺贝尔生理学或 医学奖，以表彰他们在外周免疫耐受机制领域的研究成果。这一创新性研究成果找到了免疫系统的抑制 开关，为全球数亿自身免疫病及癌症患者带来颠覆性疗法。调节性T细胞(Treg细胞)通过Foxp3转录因子 维持免疫耐受，其功能异常与自身免疫病、癌症等密切相关，而细胞毒性T淋巴细胞相关抗原4(CTLA- 4)是Treg细胞执行免疫抑制功能的"关键效应分子"。Treg细胞的发现及其作用机制研究，为开发新一代 ...

Core Viewpoint - The stock of Iminconco-B (01541) has risen over 5% due to increased attention on Treg cell therapy and the active clinical development of Tazlestobart monoclonal antibody [1][2] Group 1: Company Developments - Iminconco-B's stock price increased by 5.22%, reaching 11.47 HKD, with a trading volume of 40.47 million HKD [1] - The company is actively advancing the clinical development of Tazlestobart (IMM27M), a next-generation CTLA-4 antibody [2] Group 2: Scientific Recognition - Three scientists, including Mary E. Blenko, were awarded the 2025 Nobel Prize in Physiology or Medicine for their research on peripheral immune tolerance mechanisms, which has implications for autoimmune diseases and cancer therapies [1] - The discovery of regulatory T cells (Treg cells) and their mechanisms has provided a theoretical foundation for developing new immunomodulatory drugs [1] Group 3: Product Mechanism - Tazlestobart (IMM27M) is designed to eliminate Treg cells in the tumor microenvironment, enhancing anti-tumor efficacy [2] - The drug utilizes genetic engineering to enhance ADCC activity and targets specific molecules on Treg cells, particularly CTLA-4, to modulate their function or quantity [2]

Group 1 - The stock of Qianxin Biopharmaceuticals-B (02509) rose over 6%, reaching 29.04 HKD with a trading volume of 15.28 million HKD [1] - Tianfeng Securities forecasts that the market size for autoimmune disease drugs in China will reach 36.3 billion RMB by 2024, with the share of biological agents increasing to 65.6% by 2030 [1] - The market size for psoriasis in China is expected to reach 30.65 billion RMB by 2030, while the market for ankylosing spondylitis is projected to be approximately 46.3 billion RMB by 2030 [1] Group 2 - The company has a rich product pipeline in the autoimmune monoclonal antibody sector, including QX001S (IL-23p40), the first approved biosimilar of ustekinumab in China, which significantly improves the clinical accessibility of psoriasis treatment [2] - QX008N (TSLP) has completed Phase II enrollment for chronic obstructive pulmonary disease, leading among domestic products [2] - QX005N (IL-4Rα) has received breakthrough therapy designation and completed Phase III enrollment for nodular prurigo [2] - QX002N (IL-17A) has completed Phase III trials for ankylosing spondylitis, with a BLA submission expected in the second half of 2025 [2] - QX004N (IL-23p19) has shown significant efficacy and safety in treating psoriasis and has initiated Phase III trials [2] - QX013N is the first c-kit targeted biologic in China, having completed Phase I trials for chronic spontaneous urticaria [2]

Core Viewpoint - The report highlights the growth potential of the autoimmune disease drug market in China, with significant contributions from biopharmaceuticals, particularly in the treatment of psoriasis and ankylosing spondylitis [1][2]. Industry Summary - The Chinese autoimmune disease drug market is projected to reach 36.3 billion yuan by 2024, with biopharmaceuticals' market share expected to increase to 65.6% by 2030 [1]. - The psoriasis market is anticipated to reach 30.65 billion yuan by 2030, while the market for ankylosing spondylitis is expected to grow to approximately 46.3 billion yuan by 2030 [1]. - Current first-line treatments for autoimmune diseases primarily include glucocorticoids, immunosuppressants, and non-steroidal anti-inflammatory drugs, which have limitations such as short treatment duration and systemic side effects [1]. Company Summary - The company has a diverse product pipeline in the autoimmune monoclonal antibody sector, including QX001S (IL-23p40), the first approved biosimilar of ustekinumab in China, which significantly improves the clinical accessibility of psoriasis treatment [2]. - QX008N (TSLP) has completed Phase II enrollment for chronic obstructive pulmonary disease, leading the progress among domestic products [2]. - QX005N (IL-4Rα) has received breakthrough therapy designation and completed Phase III enrollment for nodular prurigo [2]. - QX002N (IL-17A) has completed Phase III trials for ankylosing spondylitis, with a BLA submission expected in the second half of 2025 [2]. - QX004N (IL-23p19) has shown significant efficacy and safety in treating psoriasis and has initiated Phase III trials [2]. - QX013N is the first c-kit targeted biopharmaceutical in China, having completed Phase I trials for chronic spontaneous urticaria [2].

Core Insights - Rongchang Biologics (09995) experienced a 5.10% increase in stock price, currently trading at HKD 95.90, with a transaction volume of HKD 287 million [1] Group 1: Clinical Research Announcement - On October 16, Rongchang Biologics announced the results of its Phase III clinical study for Taitasip in treating systemic lupus erythematosus (SLE), published in the prestigious medical journal New England Journal of Medicine (NEJM) [1] - Systemic lupus erythematosus (SLE) is a chronic systemic autoimmune disease that can affect multiple organs and lead to irreversible damage, with over half of patients experiencing organ damage within 2-6 years post-diagnosis [1]