Group 1 - A new asset paradigm is emerging globally, driven by the tokenization of Real World Assets (RWA) using blockchain technology, enabling continuous global liquidity and financing [1][17] - The ETHK Building, launched by Huajian Medical in Nanjing, is the world's first RWA technology base, marking a significant step in the large-scale implementation of RWA technology in China [3][8] - The ETHK Building spans approximately 70,000 square meters, with the main building covering 35,000 square meters, making it the largest and most comprehensive RWA research and innovation base globally [3][7] Group 2 - The establishment of the ETHK Building addresses the dual challenges of technical infrastructure and regulatory frameworks that have hindered the large-scale implementation of RWA [3][8] - The building is designed as a dual-purpose infrastructure, serving as both a center for R&D and a base for trusted technology development and output [3][7] - The facility is expected to gather over 5,000 technical experts and engineers, forming one of the strongest RWA research teams globally [7] Group 3 - Huajian Medical's "ETHK Global RWA Trading - Exchange within an Exchange" model aims to fill the service gap in China's RWA market, providing a comprehensive solution for asset selection, structural design, compliance issuance, and liquidity management [8][9] - This model is particularly valuable in the healthcare sector, facilitating innovative financing for drug development and global market expansion [9][10] Group 4 - Huajian Medical has entered a phase of scaling its "Exchange within an Exchange" model, signing strategic cooperation agreements with four key partners across various sectors, including pharmaceuticals and legal compliance [9][10] - The collaboration with Chuangsheng Group involves the tokenization of innovative drug pipeline assets, with a total valuation exceeding $1.5 billion, representing cutting-edge research in cancer treatment [10] Group 5 - The launch of the RWA Protocol White Paper addresses key challenges in the current financial system, focusing on creating a foundational protocol for the issuance and trading of real-world assets [10][15] - The RWA Protocol aims to enhance settlement efficiency, transparency, and compliance in capital markets, facilitating cross-border asset allocation [15] Group 6 - Huajian Medical's strategy aligns with national policies promoting the market-oriented operation and securitization of intellectual property, as highlighted in recent government initiatives [16] - The global RWA market is projected to reach $16.1 trillion by 2030, representing 10% of global GDP, indicating significant growth potential [16] Group 7 - The completion of the ETHK Building symbolizes a new financial paradigm and showcases China's innovative capabilities in integrating blockchain with the real economy [17] - As more assets are tokenized through RWA, a more open, efficient, and inclusive global asset allocation era is anticipated, with Huajian Medical leading the charge [17]

实验证实，神经组织通过与胃上皮组织的非对称几何关系，形成沿前—后轴递减的WNT信号梯度，成 为调控胃分区发育的信号中心。研究同时发现，上皮源NR2F2基因是胃组织图式形成的关键调控因子， 其缺失会导致胃底—胃窦发育失衡，这为胃疾病发生机制提供了新解释。 这一成果完善了经典发育生物学的信号中心理论，建立了首个可模拟人类胃器官早期发育的体外研究平 台。该模型解决了人类胚胎样本稀缺的伦理限制问题，为胃癌、胃溃疡等疾病的病因研究、药物筛选及 再生医学提供了新型活的"实验室"。 （文章来源：科技日报） 记者21日从昆明理工大学获悉，该校灵长类转化医学研究院白冰博士团队与国内外研究人员合作，破解 了困扰发育生物学界20年的"WNT信号梯度悖论"，并首次在体外构建出包含胃底和胃窦双区域的类胃 囊模型，为揭示人类胃器官发育机制提供了全新研究平台。相关成果发表在国际期刊《自然》上。 胃作为重要消化器官，其胃底和胃窦的功能分区早在胚胎发育第5周就已形成。经典发育生物学理论认 为，器官沿前—后轴的组织图式形成依赖递增的WNT信号梯度，但胃发育却呈现出递减的WNT信号分 布，这一矛盾现象被称为"信号梯度悖论"。研究团队创新提出"隐藏 ...

Core Viewpoint - The completion of the ETHK Building in Nanjing marks a significant milestone for the company in its strategy to develop a global digital financial ecosystem focused on Real World Assets (RWA) technology, transitioning from conceptualization to large-scale implementation [1][4]. Group 1: Infrastructure and Strategic Importance - The ETHK Building, with a total area of approximately 70,000 square meters, serves as the world's largest physical research and innovation base for RWA technology, featuring advanced facilities and a strategic location in the Yangtze River Delta economic zone [1][2]. - The building will act as the headquarters for RWA technology research and ecosystem empowerment, expected to gather over 5,000 technical experts and partners, facilitating a collaborative environment for innovation [1][2]. Group 2: Technological Development and Integration - The ETHK Building will integrate core technological research functions, including high-performance blockchain development, cross-chain interoperability, smart contract security, and RegTech solutions, providing comprehensive digital technology solutions for enterprises [2][4]. - The establishment of ETHK Inc and ETHK HOLDINGS LIMITED, with plans to rename as ETHK Labs Inc, emphasizes the company's role as a technology driver and infrastructure provider within the digital financial ecosystem [2][4]. Group 3: Talent and Collaboration - Nanjing's rich educational resources, including top universities and research institutions, will support the ETHK Building's technological research and foster collaboration opportunities, enhancing the company's competitive edge in technology innovation [3][4]. - The strategic location in Nanjing aligns with the company's focus on high-tech and high-potential intellectual property asset digitization, particularly in the biopharmaceutical sector [2][3]. Group 4: Policy and Market Positioning - The ETHK Building is positioned to benefit from favorable policies in the Jiangsu Free Trade Zone, which aims to create a world-class biopharmaceutical industry cluster, enhancing the company's global RWA business development [3][4]. - The building's inauguration is not just a physical milestone but a clear signal to the market and investors of the company's commitment to advancing its ETHK digital financial ecosystem strategy [4][5]. Group 5: Future Vision and Commitment - The ETHK Building symbolizes the company's long-term value and commitment to sustainable development, with future research outcomes expected to reinforce the global promotion of the ETHK digital financial technology ecosystem [5][6]. - The company aims to leverage this strategic asset to accelerate the implementation of innovative technologies, contributing to the efficient circulation and value discovery of quality global assets [6].

Core Viewpoint - The stock of Baiaosaitu-B (02315) surged over 15% in early trading, driven by the upcoming IPO on the STAR Market and a recent partnership with Merck for antibody development [1] Group 1: IPO Details - Baiaosaitu plans to raise 1.185 billion yuan through its STAR Market IPO, with funds allocated for early drug development services, antibody drug research, preclinical and clinical research projects, and to supplement working capital [1] - The IPO review is scheduled for September 24, marking a critical milestone for the company [1] Group 2: Partnership with Merck - Earlier this month, Baiaosaitu signed an evaluation agreement with Merck to develop antibody-conjugated lipid delivery solutions for nucleic acid drugs [1] - Under the agreement, Baiaosaitu will provide fully human antibodies developed on its RenMice platform for Merck to assess their feasibility for antibody-conjugated lipid nanoparticle formulations [1] - Merck has been granted exclusive rights to acquire selected antibody assets, while Baiaosaitu is entitled to receive corresponding fee payments, sales shares, and sublicensing royalties [1]

Core Viewpoint - Baiaosaitu-B (02315) has seen a significant stock price increase, with a rise of over 15% in early trading, currently up 11.41% at HKD 27.74, with a trading volume of HKD 12.0264 million [1] Group 1: IPO and Fundraising - The Shanghai Stock Exchange's listing review committee announced that Baiaosaitu's IPO on the Sci-Tech Innovation Board will be reviewed on September 24 [1] - The company plans to raise HKD 1.185 billion through this IPO, which will be allocated to the construction of an early drug development service platform, antibody drug research and evaluation projects, preclinical and clinical research projects, and to supplement working capital [1] Group 2: Collaboration with Merck - Earlier this month, Baiaosaitu signed an antibody selection assessment agreement with Merck, a leading global technology company, to advance the development of antibody-conjugated lipid delivery solutions for nucleic acid drugs, such as antibody-conjugated lipid nanoparticles (LNP) [1] - Under the agreement, Baiaosaitu will provide fully human antibodies developed on its RenMice platform for Merck to evaluate their feasibility for use in antibody-conjugated LNP formulation services [1] - Merck has been granted exclusive rights to acquire selected antibody asset rights, while Baiaosaitu is entitled to receive corresponding fee payments, sales shares, and sublicensing shares [1]

Core Viewpoint - Seer Medical plans to increase its stake in Wuhan Huajiyuan Biotechnology by investing 42.74 million yuan, raising its ownership to 41% [1] - The company aims to advance the clinical trials of its therapeutic antihypertensive vaccine HJY-ATRQβ-001, which has received IND approval from the NMPA [2] Group 1: Investment and Ownership Changes - Seer Medical will invest a total of 69.94 million yuan in Wuhan Huajiyuan, including a 27.2 million yuan acquisition of a 10% stake from a shareholder [1] - Following the investment, Wuhan Huajiyuan will be consolidated into Seer Medical's financial statements as a subsidiary by 2026 [1] Group 2: Product Development and Clinical Trials - HJY-ATRQβ-001 is expected to provide a new treatment option for hypertension patients, with no similar drugs currently in clinical development globally [2] - The company aims to complete Phase I and IIa clinical trials within two years, followed by Phase IIb trials [1][2] Group 3: Financial Performance and Strategic Direction - Seer Medical reported a 40.2% decline in revenue to 584 million yuan in the first half of the year, with a net loss of 56.12 million yuan [2][3] - The company is undergoing a strategic transformation towards smart healthcare, which has temporarily impacted profits but is expected to support long-term growth [3] - Seer Medical's stock price has increased by 325% this year, reflecting strong market performance [3]

Group 1 - The Shanghai Stock Exchange's Listing Review Committee will hold its 38th meeting on September 24, 2025, to review the initial public offering (IPO) of Bai'ao Saitou (Beijing) Pharmaceutical Technology Co., Ltd. [1] - Bai'ao Saitou plans to list on the Sci-Tech Innovation Board and aims to raise 1.18504 billion yuan, which will be used for the construction of a drug early research and development service platform, antibody drug research and evaluation projects, preclinical research projects, and to supplement working capital [1] - As of the signing date of the prospectus, Shen Yuele holds 6.6086% of the company's shares, while Ni Jian holds 7.2621%. Shen Yuele and Ni Jian are spouses and together control 27.0291% of the voting rights, making them the co-controlling shareholders and actual controllers of Bai'ao Saitou [1] Group 2 - The sponsor (lead underwriter) for Bai'ao Saitou is China International Capital Corporation, with representatives Qi Yao and Zhang Weixian [2]

Core Viewpoint - The article discusses the development of a novel peptide, SK56, which selectively blocks the GSDMD-NT pore, thereby delaying pyroptosis and mitigating inflammatory responses, offering new therapeutic options for uncontrolled inflammation-related diseases [3][8][10]. Group 1: Research Findings - The research team utilized artificial intelligence (AI) to generate a specific blocker for the GSDMD-NT pore, which can delay pyroptosis and reduce inflammation, potentially benefiting conditions like sepsis and autoimmune diseases [3][10]. - SK56 effectively targets and blocks the GSDMD-NT pore, preventing cell death induced by inflammatory stimuli and reducing cytokine release from macrophages [8][10]. - The study challenges the traditional belief that pyroptosis is irreversible once triggered, demonstrating that SK56 remains effective even after the pyroptotic response has begun [10][11]. Group 2: Implications and Innovations - The findings highlight the potential of AI-guided peptide design in targeting previously deemed "undruggable" biological structures, paving the way for new biopharmaceutical developments [10]. - The research suggests a paradigm shift in managing inflammation, proposing that humans might coexist with inflammation rather than merely suppressing it [11]. - The AI model and training database used in the study have been made publicly available, promoting further research and development in this area [11].

Core Insights - Jiangbei New Area in Nanjing has evolved into a national-level innovation hub, particularly in the biopharmaceutical and semiconductor industries, showcasing significant technological advancements and industry breakthroughs [1][2][3]. Biopharmaceutical Industry - Jiangbei New Area is designated as a key area for developing a world-class biopharmaceutical industry cluster, with over 200 new drugs under research and more than 1,300 biopharmaceutical companies [1][2]. - Notable achievements include the first CAR-T drug for cross-border supply by Reindeer Biotech and the first nucleic acid drug ER2001 injection by Aima Biotech, highlighting the area's innovative capabilities [2]. - The area has attracted major pharmaceutical companies, with recent approvals for new drugs such as the anti-flu drug and an antibody drug, indicating a robust pipeline of innovative products [2]. Semiconductor Industry - Jiangbei New Area hosts a significant number of semiconductor companies, including Nanjing University’s collaboration with Nanjing Jiangbei New Area to establish a leading photonic chip production line [3]. - Companies like Chipstar Technology have made strides in high-end chips, with their 7nm chip achieving significant market penetration [3]. - The area is recognized for its comprehensive semiconductor ecosystem, covering all aspects from design to manufacturing [3]. Educational and Research Institutions - The establishment of a technology transfer center in Jiangbei New Area has facilitated collaboration with 78 universities, resulting in numerous projects and a high concentration of talent [4][5]. - Nanjing University and Southeast University are key players in the area, contributing to a rich educational environment that supports innovation and research [4][5]. Innovation Ecosystem - Jiangbei New Area is focused on creating an integrated ecosystem that combines education, research, industry, and application, fostering a collaborative environment for innovation [5]. - The area has seen significant investment from venture capital, supporting the growth of local companies and enhancing the overall innovation landscape [5]. Community and Lifestyle - The demographic profile of Jiangbei New Area shows a high concentration of highly educated individuals, with over 30% of the local population holding advanced degrees [6]. - The community is actively engaged in various cultural and educational activities, contributing to a vibrant lifestyle that attracts young talent [6]. Infrastructure Development - The construction of Nanjing North Station as a major transportation hub is expected to enhance connectivity and attract resources, further supporting the innovation ecosystem in Jiangbei New Area [7]. Conclusion - Jiangbei New Area is positioned as a rising highland in Jiangsu, with a strong focus on biopharmaceuticals and semiconductors, supported by a robust educational framework and community engagement [8].

Group 1 - The core event is a clinical trial matchmaking meeting held at Suzhou University Affiliated First Hospital, facilitating direct discussions between 11 local biopharmaceutical companies and medical experts [1] - Suzhou has over 4,200 biopharmaceutical companies, most of which are in the growth stage, with 133 clinical trial projects conducted locally last year, representing a 51.14% year-on-year increase [1] - The local medical institutions, represented by Suzhou University Affiliated First Hospital, have significantly improved their clinical trial capabilities, which is expected to accelerate the implementation of more clinical trial projects in local healthcare facilities [1] Group 2 - Suzhou has developed a number of well-known innovative drug and device R&D companies in areas such as antibody drugs, cell and gene therapy, and in vitro diagnostics, including 26 national-level platforms [2] - Clinical trials are identified as an essential core step in transforming biopharmaceutical discoveries into practical methods for disease prevention, diagnosis, and treatment [2] - The Suzhou Industrial and Information Technology Bureau is encouraging local enterprises to conduct clinical trials and is exploring the establishment of special funding projects to support these initiatives [2]