Core Viewpoint - The A-share market is experiencing a rebound, particularly in the innovative drug sector, with significant inflows into the ETF focused on this area, indicating growing investor confidence and interest in the sector [1][2]. Group 1: Market Performance - As of September 30, the ETF for innovative drugs, Huatai-PineBridge (589120), rose by 2%, marking a potential two-day consecutive increase, with net inflows for two days [1]. - The performance of constituent stocks varied, with companies like BaiLi Tianheng and Rongchang Biologics seeing gains of over 3%, while others like TeBao Biologics experienced a pullback [3]. Group 2: Company Developments - Rongchang Biologics has submitted its innovative ophthalmic drug, RC28, for market approval to treat diabetic macular edema (DME), following a significant agreement with Santen Pharmaceutical for exclusive rights in several Asian markets, valued at 1.295 billion yuan [1]. - At the upcoming ESMO conference in Berlin from October 17 to 21, Rongchang Biologics will present 11 original research results, including a pivotal study on RC48-C016 for treating urothelial carcinoma [1]. Group 3: Industry Trends - The innovative drug sector is at a turning point, with a decade of development leading to a robust ecosystem, and a significant number of overseas licensing deals expected in 2025, which will enhance the valuation of ongoing projects [5]. - The industry is transitioning from a research-driven model to one that emphasizes both research and commercialization, with leading companies poised to enter a profitability phase [5]. - The upcoming ESMO conference and other authoritative academic meetings are anticipated to stimulate business development (BD) events, which have been lacking in recent months [2].

消息面上，9月30日，CDE网站显示，荣昌生物的眼科创新药伊立芙普α（RC28）申报上市，用于治疗 糖尿病黄斑水肿（DME）。据悉，今年8月，荣昌生物与参天制药全资子公司参天中国达成协议，将伊 立芙普α在大中华区及韩国、泰国、越南、新加坡、菲律宾、印度尼西亚及马来西亚的独家开发、生产 和商业化权利授予后者，总交易金额为12.95亿元。 此外，2025年欧洲肿瘤内科学会（ESMO）年会将于当地时间10月17日至21日在德国柏林召开，荣昌生 物11项原创研究成果成功入选。其中，维迪西妥单抗联合治疗一线尿路上皮癌的RC48-C016Ⅲ期临床研 究入选最新突破摘要（LBA），公司还将展示10项多个瘤种及相关治疗策略的最新数据，呈现形式包括 2项简短口头报告和8项壁报展示，覆盖尿路上皮癌、胃癌、妇科肿瘤等领域。 智通财经APP获悉，荣昌生物(09995)再涨超7%，截至发稿，涨6.07%，报118.8港元，成交额4.76亿港 元。 ...