中国经济网北京10月15日讯轩竹生物科技股份有限公司(以下简称"轩竹生物"，02575.HK)今日在港交所 上市，开盘报29.46港元。截至今日收盘，轩竹生物报26.30港元，涨幅126.72%。 轩竹生物是一家以创新为驱动的中国生物制药公司。 根据配发结果公告，轩竹生物本次发售股份数目67,333,500股股份，其中，香港公开发售的发售股份数 目6,733,500股股份，国际发售的发售股份数目(不包括优先发售的预留股份)57,233,500股股份。轩竹生 物于上市时已发行的股份数目517,947,790股股份。 轩竹生物本次发行的独家保荐人及保荐人兼整体协调人为中国国际金融香港证券有限公司，联席整体协 调人、联席全球协调人、联席账簿管理人及联席牵头经办人为中国国际金融香港证券有限公司、招银国 际融资有限公司。 配发结果公告显示，轩竹生物的基石投资者为北京德诺瑞朗十五期股权投资基金中心(有限合伙)("德诺 瑞朗十五期")，获分配的发售股份数目为6,603,000股股份，占发售股份的百分比为9.81%，占全球发售 后已发行H股总数的百分比为4.11%，占全球发售后已发行股份总数的百分比为1.27%。 | | | ...

Core Insights - The biopharmaceutical sector experienced a rise of 1.78% on October 15, with Sai Sheng Pharmaceutical leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Company Performance - Sai Sheng Pharmaceutical (300485) closed at 12.28, with a gain of 9.16% and a trading volume of 369,300 shares [1] - Kanghua Biological (300841) closed at 77.71, up 6.02%, with a trading volume of 49,400 shares [1] - Kangchen Pharmaceutical (603590) closed at 49.11, increasing by 5.84%, with a trading volume of 40,700 shares [1] - San Sheng Guo Jian (688336) closed at 53.00, up 5.68%, with a trading volume of 56,800 shares [1] - Bai Pu Sai Si (301080) closed at 57.73, gaining 5.23%, with a trading volume of 28,000 shares [1] - Rongchang Biological (688331) closed at 96.05, up 5.20%, with a trading volume of 72,700 shares [1] - Shenzhou Cell (688520) closed at 55.03, increasing by 4.90%, with a trading volume of 42,700 shares [1] - Kang Le Wei Shi (920575) closed at 12.94, up 4.61%, with a trading volume of 53,900 shares [1] - Tonghua Dongbao (600867) closed at 8.96, gaining 4.55%, with a trading volume of 543,800 shares [1] - Olin Biological (61688919) closed at 24.96, up 4.22%, with a trading volume of 65,800 shares [1] Market Capital Flow - The biopharmaceutical sector saw a net inflow of 331 million yuan from institutional investors, while retail investors experienced a net outflow of 234 million yuan [2] - The main funds showed a net inflow in several companies, including Changchun High-tech (000661) with 66.94 million yuan and Tonghua Dongbao (600867) with 62.56 million yuan [3] - Retail investors showed significant outflows in companies like Sai Sheng Pharmaceutical (300485) with 50.24 million yuan and Rongchang Biological (688331) with 38.34 million yuan [3]

Core Viewpoint - The article emphasizes the significance of gene editing technology as a revolutionary approach to curing genetic diseases, highlighting its potential to provide permanent solutions by directly correcting DNA sequences, unlike traditional therapies that only manage symptoms [3][4][5]. Group 1: Gene Editing Technology Overview - Gene editing is categorized into three generations: ZFN, TALEN, and CRISPR/Cas, with CRISPR/Cas representing a significant leap in efficiency and effectiveness [16][15]. - The CRISPR/Cas system utilizes RNA for target recognition, which simplifies the design and delivery process compared to previous methods [12][13]. - The article discusses the challenges of gene editing, particularly in identifying target sequences within vast genomic data, which has historically limited the technology's development [8][9]. Group 2: Current Market Landscape - The focus of investment in the biotech sector is shifting towards companies that leverage disruptive gene editing technologies, particularly those with proven products at the forefront of the market [5][18]. - Companies like CRISPR Therapeutics and Intellia are highlighted for their advancements in gene editing therapies, with CRISPR's products showing promising early commercial success [20][21]. - The article notes that the delivery of gene editing tools, especially to liver cells, has become more refined, with LNP (lipid nanoparticles) being a key method for effective delivery [21][23]. Group 3: Future Directions and Innovations - The emergence of base editing (BE) and prime editing (PE) technologies represents the next frontier in gene editing, offering more precise editing capabilities with reduced risks of off-target effects [31][36]. - Prime editing, in particular, is noted for its ability to perform complex edits without causing double-strand breaks, thus minimizing unintended genetic alterations [41][42]. - The article concludes with a forward-looking perspective on the potential for gene editing technologies to transform the biopharmaceutical industry, driven by ongoing innovations and the quest for effective treatments [45][46].

Core Viewpoint - Kingsoft Biotech (1548.HK) has seen a significant stock price increase of 4.71% to HKD 16.67, with a year-to-date gain of nearly 70%, outperforming the market index which has risen approximately 30% during the same period [1] Group 1: Company Performance - Kingsoft Biotech's stock price has increased by 4.71% to HKD 16.67 during intraday trading [1] - The company has achieved a year-to-date stock price increase of nearly 70% [1] - The performance of Kingsoft Biotech has outpaced the Hang Seng Index, which has risen about 30% in the same timeframe [1] Group 2: Business Developments - Kingsoft Biotech announced that its affiliate, Legend Biotech Corporation, submitted a 6-K form to the U.S. Securities and Exchange Commission on October 14, 2025 [1] - The report indicated that CARVYKTI® generated trade sales net revenue of approximately USD 524 million for the quarter ending September 30, 2025, under a collaboration and licensing agreement with Janssen Biotech, Inc. established on December 21, 2017 [1]

Core Points - The Sci-Tech Innovation 50 Index rebounded on October 15, closing at 1430 points with a gain of 1.40% and a trading range of 2.79% [1] - A total of 469 stocks in the Sci-Tech Innovation Board rose, with active performance in software services, components, biopharmaceuticals, and healthcare sectors, while some semiconductor stocks declined [1] - The average increase for 588 stocks on the Sci-Tech Board, excluding one suspended stock, was 1.59%, with an average turnover rate of 2.79% and a total trading volume of 208.5 billion yuan, averaging a volatility of 4.60% [1] Individual Stock Performance - Jinpan Technology led the component stocks with a rise of 20%, while Guangda Special Materials experienced the largest decline at 9.95% [2] Trading Volume - SMIC had the highest trading volume at 10.28 billion yuan, while ST Pava had the lowest at 890.3 thousand yuan [3] Turnover Rate - Canxin Technology had the highest turnover rate at 22.50%, while Longteng Optoelectronics had the lowest at 0.23% [4]

成立于2012年的华芢生物，专注于PDGF药物研发形成核心技术壁垒。PDGF作为血小板损伤后分泌的生长因子，可通过促进新血管生成、调节炎症反应、 刺激细胞增殖迁移加速术后伤口愈合，其技术优势已在临床数据中充分显现。针对烧烫伤适应症的Pro-101-1作为国内临床开发进度最快的PDGF候选药物， Ⅱa期临床试验数据显示：Ⅱ度浅烧伤患者接受高剂量治疗后，完全愈合时间从安慰剂组的17.6天缩短至10.4天，Ⅱ度深烧伤患者愈合时间从20.5天降至14.3 天，较28天的常规愈合周期缩短四分之一。愈合周期缩短6-7天带来多重医疗价值，对医院而言，可直接提升三甲医院病床周转率，有效缓解床位紧张现 状；对患者家庭来说，减少了长期护理的重复开支及因误工产生的间接损失；对医保体系而言，创面治疗支出压力随治疗周期缩短显著缓解，形成三方共赢 格局。 另一款核心产品Pro-101-2针对糖足适应症，目前糖足药物市场也呈现出"竞争有限、潜力巨大"的格局，其全球市场则更显"稀缺"。据公开信息显示，过去20 年间，美国FDA仅批准一款PDGF药物Regranex(贝卡普勒明)上市销售，且其定价高达1700美元/15g，且尚未进入中国市场。 ...

Core Insights - The Chinese biotechnology sector has seen a surge in license-out transactions this year, reflecting an overall enhancement in China's pharmaceutical innovation capabilities and increasing global market recognition [1] - Suzhou Xingming Youjian, a biotech company incubated by the Fuxing Pharmaceutical's Rehabilitative Capital New Drug Innovation Fund, has entered a strategic partnership with UK-based AviadoBio for the overseas development and commercialization of the innovative optogenetic gene therapy UGX202 [1] - The potential total deal value for the collaboration exceeds $400 million, with AviadoBio acquiring exclusive development and commercialization rights outside Greater China, while Xingming Youjian stands to gain multiple revenue streams including upfront payments, milestone payments, and sales shares [1] Company Overview - Xingming Youjian is part of the Rehabilitative Capital New Drug Innovation Fund established by Fuxing Pharmaceutical, focusing on innovative gene therapies for ophthalmic diseases [2] - Since its inception in 2020, the Rehabilitative Capital New Drug Innovation Fund has built an ecosystem covering cutting-edge areas such as stem cells, RNA therapies, gene editing, and nucleic acid drugs, incubating over ten high-tech companies [2] - The collaboration with AviadoBio is expected to accelerate the global clinical and commercialization process of UGX202, serving as an important model for Chinese innovative pharmaceutical companies to engage in global competition [2] Industry Trends - The Chinese pharmaceutical industry is transitioning from a "follower" to a "runner" and even a "leader" in innovation, with Fuxing Pharmaceutical enhancing its capabilities through diverse innovation models including independent research, collaborative development, licensing, fund incubation, and industrial investment [2] - As new therapies such as gene and cell therapies gradually enter clinical and market phases, companies with source innovation capabilities and global resource integration abilities are anticipated to occupy core positions in the future pharmaceutical landscape [2]

Core Viewpoint - The innovative drug sector is experiencing significant market movements, with notable stock price increases in both Hong Kong and A-share markets, indicating strong investor interest and potential growth in this industry [1][2][6]. Group 1: Market Performance - On October 15, innovative drug concept stocks surged in the Hong Kong market, with Xuan Bamboo Biotech's stock price increasing by 167% at its peak, translating to a potential profit of approximately 9,700 HKD per lot (500 shares) [1][3]. - In the A-share market, stocks such as Asia-Pacific Pharmaceutical, Anglikang, and Jimin Health reached their daily limit up, contributing to an overall index increase of over 2% [2][6]. Group 2: Company Highlights - Xuan Bamboo Biotech, founded in 2008, focuses on innovative biopharmaceuticals and has over ten drug assets in development targeting digestive diseases, tumors, and non-alcoholic fatty liver disease (NASH) [3][4]. - The company has three core products that have received NDA approval, including KBP-3571 for digestive diseases, XZP-3287 for breast cancer, and XZP-3621 for non-small cell lung cancer (NSCLC) [4]. - Xuan Bamboo's revenue is projected to grow from 29,000 HKD in 2023 to 30.09 million HKD in 2024, with a reported loss of 300 million HKD in 2023 and 556 million HKD in 2024 [5]. Group 3: Industry Outlook - Analysts expect the innovative drug sector to maintain high revenue growth, with significant attention on companies that consistently achieve high performance [7]. - The upcoming ESMO conference and other industry events are anticipated to act as catalysts for the sector, alongside ongoing advancements in licensing agreements for domestic innovative drugs [7][8]. - The innovative drug industry is projected to continue its upward trajectory, supported by favorable policies and increasing global competitiveness, with a potential recovery in demand expected by 2025 [8].

Core Viewpoint - China Antibody-B (03681) has seen a stock price increase of over 7%, currently trading at 1.68 HKD, following the successful completion of the first cohort of a bridging study for the SM17 subcutaneous injection in healthy subjects [1] Group 1: Study Details - The bridging study for SM17 was successfully completed on October 14 in China, with all participants showing good tolerance and no adverse events reported [1] - The study aims to evaluate the safety, tolerability, and pharmacokinetic characteristics of the SM17 subcutaneous injection, as well as to explore its bioavailability in humans [1] - A total of 30 healthy subjects are planned to be enrolled in this bridging study, with recruitment expected to be completed by November 2025 and all follow-ups finished by March 2026 [1] Group 2: Product Information - SM17 is a novel, globally first humanized IgG4-κ monoclonal antibody that targets the key molecule IL-25 receptor in the Th2 inflammatory cytokine pathway, which regulates type II allergic responses [1] - The company believes that targeting the upstream therapy of the Th2 inflammatory cytokine pathway will have a broad impact on skin inflammation, indicating significant potential for SM17 in the treatment of atopic dermatitis (AD) with enhanced safety, efficacy, and differentiated advantages [1]

Core Viewpoint - Fuhong Hanlin (02696) experienced a nearly 6% increase in stock price following the announcement of successful Phase III clinical trial results for its self-developed PD-1 inhibitor, Hanshu (Surulitinib), in combination with chemotherapy for gastric cancer treatment [1] Group 1: Clinical Trial Results - The Phase III clinical study achieved predefined efficacy standards and demonstrated good safety for the treatment regimen [1] - This treatment represents a significant breakthrough as it is the first global perioperative (preoperative/postoperative) therapy for gastric cancer to replace postoperative adjuvant chemotherapy with a single-agent immunotherapy [1] Group 2: Future Plans - In light of the positive trial results, the company plans to expedite the application for market approval for this indication [1] - The CEO, Dr. Zhu Jun, emphasized that gastrointestinal tumors are a core area of focus for the company, and they will actively promote the translation of results to benefit patients while accelerating the exploration and application of more innovative therapies [1]