▲点击图片扫描二维码报名 秋风送爽，丹桂飘香，科学的原野再度迎来丰收的序曲。我们谨以最诚挚的热情，邀您共赴上海张江，参加一场属 于生物药早期研发领域的科学盛宴 —— 第四届蛋白质科学及抗体发现研讨会 。 自 2021 年扬帆起航，四载春 秋，我们步履不停，足迹遍布上海、苏州、成都等创新热土，汇聚了数千名科学同仁，共同谱写了生物医药研发的 壮丽诗篇。 强强联袂，科学为舵，共启腾飞新程 秉持 " 聚焦 蛋白创新，加速行业 腾飞 " 的永恒主题，我们始终以 " 专业性铸就根基，学术性拓深维度 " 为灵 魂，致力于打造一个与国际前沿比肩的顶级交流平台。本届盛会将于 2025 年 11 月 21 日（星期五） ，在充满活 力的 上海张江举行。让我们暂别日常的喧嚣，回归学术的本真，于思维的碰撞中，探寻技术突破的星辰大海。 承科学之脉，启创新之局 秉承 " 严肃定位，严格准入，严谨科学（数据） " 的 三严原则 ， 我们 致力于为 科研人员 打造一个聚焦早期研 发、强调技术落地、重视数据交流的高质量平台。 本届大会在延续往届专业性与前瞻性的基础上，进一步聚焦早期研发与技术突破，设置主论坛和 自免和肿瘤药物 开发、复杂抗体与 ...

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry [1]. Core Insights - The development of trispecific antibodies (TsAbs) is accelerating, with a focus on companies such as Zai Lab and Sanofi [18]. - The report highlights the performance of various sub-sectors within the industry, ranking them as follows: innovative drugs > CXO > traditional Chinese medicine > medical devices > pharmacies > pharmaceutical commerce [12][13]. Summary by Sections Industry Performance - The A-share pharmaceutical index has increased by 1.3% this week and 2.5% year-to-date, outperforming the CSI 300 by 0.2% and 3.6% respectively [11]. - The H-share biotechnology index has shown a 0.3% increase this week and a 27.8% increase year-to-date, outperforming the Hang Seng Technology Index by -1.7% and 9.6% respectively [11]. Specific Company Recommendations - From a growth perspective, the report recommends focusing on innovative drug companies such as Zai Lab, Sanofi, and others [13]. - For undervalued stocks, it suggests looking into traditional Chinese medicine companies like Zai Lab and Dong-E E-Jiao [13]. - High dividend yield stocks are recommended from the traditional Chinese medicine sector, including Jiangzhong Pharmaceutical and Yunnan Baiyao [13]. Trispecific Antibodies Development - TsAbs are engineered antibodies capable of binding to three different antigen targets, offering enhanced therapeutic potential in cancer immunotherapy [18]. - Currently, no TsAbs have been approved for market, but several companies, including Zai Lab and Sanofi, are actively developing these therapies [18][32]. Clinical Progress - The report outlines the clinical stages of various TsAbs, noting that Zai Lab's ZG006 is among the leading candidates in clinical trials [32]. - Other notable candidates include those from companies like Sanofi and IBI3003 from Innovent Biologics, which are also in advanced clinical stages [32].

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry [1]. Core Insights - The development of trispecific antibodies (TsAbs) is accelerating, with a focus on companies such as Zai Lab and Sanofi [18]. - The report highlights the performance of various sub-sectors within the industry, ranking them as follows: innovative drugs > CXO > traditional Chinese medicine > medical devices > pharmacies > pharmaceutical commerce [12][13]. - Specific stock selection strategies are recommended based on growth potential, valuation, dividend yield, and left-side investment opportunities [13]. Summary by Sections Industry Performance - The A-share pharmaceutical index has increased by 1.3% this week and 2.5% year-to-date, outperforming the CSI 300 by 0.2% and 3.6% respectively [11]. - The H-share biotechnology index has shown a 0.3% increase this week and a 27.8% increase year-to-date, outperforming the Hang Seng Technology Index by -1.7% and 9.6% respectively [11]. Trispecific Antibodies - TsAbs are engineered antibodies capable of binding to three different antigen targets, offering enhanced therapeutic potential in cancer immunotherapy [18]. - Currently, no TsAbs have been approved for market, but several companies, including Zai Lab and Sanofi, are actively developing these therapies [18][32]. Stock Recommendations - Growth-oriented stock picks focus on innovative drug companies such as Zai Lab, Sanofi, and others [13]. - For undervalued stocks, the report recommends traditional Chinese medicine companies like Zai Lab and Dong-E E-Jiao [13]. - High-dividend stocks are primarily found in the traditional Chinese medicine sector, with companies like Jiangzhong Pharmaceutical and Yunnan Baiyao highlighted [13]. Clinical Development - The report outlines the clinical stages of various trispecific antibody drugs, noting that the fastest progress is seen in Merck's Restoret, currently in phase 2b/3 trials [31]. - Domestic companies are also advancing in this area, with Zai Lab's ZG006 and others in clinical stages [32].