据博济医药消息，日前，博济医药携旗下子公司BlOTrialMed（美国博创）与欧洲临床研究组织 （CRO）Pharmaxi正式宣布达成战略合作。此次三方协作将深度整合博济医药的全流程研发能力、 BlOTrialMed的北美临床服务优势与Pharmaxi的欧洲本地化资源，为中国生物医药企业提供"中美欧"跨 区域临床试验一站式解决方案。 ...

Core Viewpoint - The Chinese government is focusing on stabilizing economic growth and expanding domestic demand in 2026, which marks the beginning of the "14th Five-Year Plan" period, with key policies aimed at supporting technology innovation, stabilizing the real estate and stock markets, and promoting consumption and investment [1][2]. Economic Policy Initiatives - Various ministries are implementing proactive macroeconomic policies, including enhancing economic monitoring, improving policy tools, and ensuring smooth policy transitions between 2025 and 2026 [2]. - The fiscal policy for 2026 will be more active, with an expanded fiscal spending plan, optimized government bond tools, and improved transfer payment efficiency to enhance local financial autonomy [2]. - The People's Bank of China will maintain a moderately loose monetary policy, focusing on high-quality economic development and reasonable price recovery, with expectations of a 25-50 basis point reduction in the reserve requirement ratio [3][4]. Consumption and Investment Promotion - The government aims to boost consumption through practical measures, including optimizing the trade-in policy for consumer goods and enhancing service consumption [7]. - Investment will be stabilized through government funding, including the issuance of new local government special bonds and increased central budget investments [8]. - A total of approximately 295 billion yuan has been allocated for early 2026 projects, with significant infrastructure projects approved, totaling over 400 billion yuan [8]. Real Estate and Stock Market Stability - The focus for 2026 will be on stabilizing the real estate market through targeted policies, including inventory reduction and optimizing supply [12]. - Recent adjustments in housing policies in major cities aim to support both rigid and improved housing demand, with expectations of further easing measures [12]. - The central bank is also working on mechanisms to mitigate financial risks in key areas, ensuring stability in capital markets [13]. Emerging Industries Development - The government is prioritizing the enhancement of technological innovation capabilities in industries, with a focus on sectors such as integrated circuits, new materials, and aerospace [10][11]. - A new venture capital fund has been established to support investments in "hard technology" sectors, with an expected investment scale exceeding one trillion yuan [10]. Overall Economic Growth Projections - GDP growth for 2026 is projected to be around 5%, with a broadening fiscal deficit and an increase in special bonds to support economic activities [3][4]. - The emphasis will be on combining short-term policies with long-term structural reforms to enhance domestic demand and economic resilience [9].

Core Viewpoint - The company emphasizes the importance of strategic partnerships and is actively seeking diverse collaboration opportunities with leading global biopharmaceutical firms, promising to disclose any significant developments in a timely manner [1] Group 1 - The company is focused on strategic cooperation and is engaging with top global biopharmaceutical companies [1] - The company is exploring various collaboration methods to enhance its strategic partnerships [1] - The company commits to timely announcements regarding any major progress in its partnerships [1]

Core Viewpoint - The Yunnan Provincial Government has issued an "Action Plan" aimed at accelerating the construction of a modern industrial system, targeting an industrial output value exceeding 2 trillion yuan by 2027, with a focus on enhancing the proportion of non-tobacco and non-energy industries in the overall industrial structure by approximately 3 percentage points [1] Group 1: Resource-based Industries - The plan emphasizes strengthening resource-based industries, particularly in green aluminum, silicon photovoltaic, phosphorus chemical, and non-ferrous and precious metals sectors [2] - By 2027, the aluminum alloy rate is expected to reach around 80%, with the green aluminum industry chain's output value projected to be approximately 250 billion yuan [2] - The phosphorus chemical industry aims for an output value of 100 billion yuan, with a target of over 80% for the comprehensive utilization rate of phosphogypsum [2] - The non-ferrous metal industry is projected to exceed 550 billion yuan in output value, with a production target of over 10 million tons for 10 types of non-ferrous metals by 2027 [2] Group 2: Characteristic Advantage Industries - The plan identifies five key sectors for enhancing characteristic advantage industries: highland characteristic agriculture, cultural tourism, green energy, tobacco, and modern logistics [3] - By 2027, the total output value of agriculture, forestry, animal husbandry, and fishery is expected to exceed 720 billion yuan [3] - The tourism sector aims for total spending of 1.4 trillion yuan, with the tourism industry's added value accounting for over 8% of regional GDP [3] - The green energy sector targets an installed power capacity of 180 million kilowatts, with clean energy accounting for 90% of the total [3] - The tobacco industry aims for an output value of 192 billion yuan by 2027 [3] - The logistics sector targets over 220 national A-level logistics enterprises and a total social logistics volume of around 6 trillion yuan [3] Group 3: Strategic Emerging and Future Industries - The plan outlines the development of six strategic emerging industries: biomedicine, new materials, advanced equipment manufacturing, digital economy, low-altitude economy, and biomanufacturing [4] - The biomedicine sector aims for revenue of 350 billion yuan by 2027 [4] - The new materials industry is projected to exceed 120 billion yuan in output value [4] - The renewable battery sector targets an output value of over 40 billion yuan, while advanced equipment manufacturing (excluding electronics) aims for over 100 billion yuan [4] - The digital economy's core industry revenue is expected to reach 320 billion yuan [4] - The low-altitude economy is projected to achieve a scale of over 20 billion yuan by 2027 [4] Group 4: Policy Measures - The action plan proposes policy measures focusing on strengthening technological empowerment, optimizing the development environment, deepening open cooperation, and enhancing support and guarantees [5] - It emphasizes the need for region-specific development of local advantages and characteristic industries while accelerating breakthroughs in non-tobacco and non-energy industries [5]

Core Insights - The article highlights significant advancements in China's biopharmaceutical sector, particularly in the PD-1/VEGF dual antibody space, marked by major deals and regulatory submissions that indicate a shift from follower to leader status for Chinese companies in the global market [1][2][3]. Group 1: Major Developments - Rongchang Biopharma announced a $5.6 billion licensing agreement with AbbVie for its PD-1/VEGF dual antibody RC148, with an upfront payment of $650 million and potential milestone payments of up to $4.95 billion [2]. - Summit Therapeutics, a partner of Kangfang Biopharma, submitted a Biologics License Application (BLA) for Ivoris monoclonal antibody to the FDA, targeting EGFR-mutant non-small cell lung cancer, with a decision expected in Q4 2026 [3]. Group 2: Market Dynamics - The PD-1/VEGF dual antibody market is becoming increasingly competitive, with major pharmaceutical companies investing heavily, indicating the high commercial value of this therapeutic area [5][6]. - The termination of a collaboration between Yiming Biotech and Instil Bio serves as a cautionary tale, highlighting challenges faced by Chinese innovative drug companies in global markets, including the need for strong financial backing and execution capabilities [1][7]. Group 3: Future Outlook - The success of Kangfang's Ivoris monoclonal antibody in clinical trials could position it as a leading product in the market, potentially capturing significant market share if it demonstrates strong overall survival data [4][10]. - The increasing number of PD-1/VEGF products in clinical stages, with 14 products linked to Chinese companies, suggests a crowded competitive landscape, which may complicate future business development opportunities for companies like Yiming Biotech [8][9].

这些年来，上海科创中心建设如火如荼，与纽约、旧金山-圣何塞、巴黎、东京、伦敦等都市圈开展角逐，逐步位于国际科创中心城市的第一方队。 今年伊始，中国科学院分子植物科学卓越创新中心Jeremy Murray（杰睿）研究员团队与张余研究员团队在《科学》杂志在线发表了科研论文，破解了困扰 植物学界20多年的难题。 作为该中心引进的外籍人才，加拿大籍研究员杰睿已在上海生活八年，这也是他第二次在《科学》杂志上发表论文。他对第一财经介绍，他在上海的研究组 规模比之前的都大，所以可以去做一些想做的研究。 12日，上海交通大学人工智能学院副院长卢策吾教授创办的科技企业穹彻智能正式推出口袋机采——通过智能手机和App，每位使用者都可以成为数据采集 的参与者，完成任务并上传数据，实现数据采集。该公司是卢策吾2016年选择回国发展后创立的具身智能企业。 杰睿研究员团队与张余研究员团队的最新成果，解开了困扰植物学界20多年的难题，破译了豆科植物与根瘤菌之间共生配对密码 受访者供图 近年来，像杰睿、卢策吾这样的科研人员，支撑了上海科技创新成果多点开花。 官方数据显示，2025年，上海科学家发表顶刊论文181篇，占全国的30.6%，较20 ...

Group 1 - The "93 Zhejiang Business Chongqing Tour" event was held from January 11 to 13, inviting 17 Zhejiang enterprise leaders to explore advanced fields such as intelligent manufacturing, biomedicine, and new materials in Chongqing [1] - Chongqing is accelerating the construction of a modern manufacturing cluster system called "33618," leveraging national strategies like the Chengdu-Chongqing Economic Circle and the Western Land-Sea New Corridor, with rapid growth in industries such as intelligent connected new energy vehicles and next-generation electronic information manufacturing [1] Group 2 - The delegation visited Chongqing Hikvision Technology Co., Ltd., where they learned about AI-based intelligent monitoring equipment that enhances operational management decision-making through real-time video analysis [3] - At Zhongyuan Huijie Biotechnology Co., Ltd., the delegation observed the latest in vitro diagnostic instruments and diagnostic reagent products [3] - The tour included visits to leading companies in the Liangjiang New Area, showcasing the strength of advanced manufacturing and technological innovation [3] Group 3 - During a special seminar on cooperation between Chongqing and Zhejiang, both sides discussed national strategic positioning and industrial layout, focusing on key industries such as automotive, electronic information, high-end equipment, and digital economy [5] - The efficient and pragmatic service of Chongqing government departments impressed the delegation, particularly the one-stop service platform and transparent approval processes that allow companies to focus on technological innovation [5] - There is a strong desire to establish a regular communication mechanism between the two regions to promote the implementation of collaborative outcomes, with two Zhejiang enterprises expressing intentions to invest [5]

（来源：药研网） 1月13日，中国生物制药宣布全资收购赫吉亚，扩展布局siRNA赛道。 根据买卖协议，卖方有条件地同意出售，而买方有条件地同意收购赫吉亚100%的股权，最高基础代价为人民币12亿元（可下调）， 部分以现金支付，部分以代价股份支付。于交割时届时，赫吉亚将成为中国生物制药的间接全资附属公司。 赫吉亚是一家专注于小干扰核酸（siRNA）创新药研发的先锋生物医药企业，已构建从靶点发现到临床概念验证（POC）的一体化创 新药物开发体系，重点布局减重代谢、心脑血管、神经系统三大慢性病领域。 2025年siRNA领域全球披露交易总额将超350亿美元，同比增长率超过40%。作为siRNA创新药研发的先锋企业，赫吉亚成功攻克了多 个组织的递送突破技术瓶颈，实现对肝脏（单靶点/双靶点）、神经、肺部、肾脏、脂肪等多组织的精准靶向，达成单次给药即可实 现长效沉默靶基因的效果，其显著优异的疗效、长效性及安全性已在临床前研经过研究与临床试验的双重验证。通过此次收购，本集 团将构建下一代心血管治疗创新产品线，完善减重新布局代谢领域，拓展万亿级慢性病管理市场新版图。 | | 赫吉亞的股東 | 概約所有權 | 各名賣方應佔基 ...

Core Viewpoint - China Biopharmaceutical (01177) announced the acquisition of Hejiya, a pioneer in siRNA innovative drug development, for a maximum consideration of RMB 120 million, aiming to enhance its innovation in chronic disease management and clinical advancement [1][2]. Group 1: Acquisition Details - The acquisition involves a full purchase of Hejiya's 100% equity by China Biopharmaceutical's wholly-owned subsidiary, with part of the payment in cash and part in shares [1]. - Hejiya will become an indirect wholly-owned subsidiary of China Biopharmaceutical upon completion of the transaction [1]. Group 2: Hejiya's Technology and Market Potential - Hejiya specializes in siRNA technology, addressing limitations in existing chronic disease therapies, with a projected global transaction volume in the siRNA field exceeding USD 35 billion by 2025, reflecting a growth rate of over 40% [2]. - Hejiya has developed a differentiated delivery platform with proprietary technology, including the MVIP platform for long-acting liver-targeted delivery, which addresses patient compliance issues in chronic disease treatment [3]. Group 3: Clinical Assets and Pipeline - Hejiya possesses four clinical-stage assets and over ten preclinical assets, all with first-in-class or best-in-class potential [4]. - Kylo-11, a long-acting Lp(a) siRNA, is in Phase II clinical trials, showing promising efficacy and safety for treating elevated Lp(a) levels, which affect over 1.4 billion people globally [4]. - Kylo-12, an APOC3 siRNA, aims for a biannual dosing regimen and is set to begin Phase II trials in 2026, targeting high triglyceride levels and familial chylomicronemia syndrome [5]. Group 4: Future Development Plans - Hejiya plans to advance multiple innovative projects into clinical stages by 2026, including products targeting obesity and Alzheimer's disease [6].

Core Viewpoint - Binhai Investment (02886) announced the acquisition of Hegia, a pioneer in siRNA drug development, for a maximum base price of RMB 12 million, which will enhance the company's innovation in chronic disease management and clinical advancement [1][2]. Group 1: Acquisition Details - The acquisition involves Binhai Investment's wholly-owned subsidiary, Chengda Pharmaceutical Investment (Beijing) Co., Ltd., purchasing 100% of Hegia's shares, with part of the payment in cash and part in shares [1]. - Hegia will become an indirect wholly-owned subsidiary of Binhai Investment upon completion of the acquisition [1]. Group 2: Hegia's Technology and Market Potential - Hegia specializes in siRNA technology, which addresses limitations in existing chronic disease therapies, with a projected global transaction volume in the siRNA field exceeding USD 35 billion by 2025, reflecting a growth rate of over 40% [2]. - Hegia has developed a differentiated delivery platform with proprietary technology, including the MVIP platform for long-acting liver-targeted delivery, which addresses patient compliance issues in chronic disease treatment [3]. Group 3: Clinical Assets and Pipeline - Hegia possesses four clinical-stage assets and over ten preclinical assets, all with first-in-class and best-in-class potential [4]. - Key clinical assets include Kylo-11, a long-acting siRNA for treating elevated lipoprotein(a) levels, currently in Phase II trials, and Kylo-12, targeting high triglycerides, expected to start Phase II trials in mid-2026 [5][6].