在每一轮的投资浪潮中，总有一些机构能跳出跟风的喧嚣，在赛道萌芽期捕捉到藏于"水下"的优质标 的，国中资本便是其中一个。作为国内首只完全市场化运作的国家级基金的管理人，它手握超百亿元国 家中小企业发展基金规模，既肩负着扶持中小企业成长的政策使命，又以高达33.65%的基金内部历史 收益率、培育近30家上市公司的业绩，实现了政策导向与商业回报的双赢。 成立十年来，国中资本命中了中国创投行业的多个第一：一度排名创业板市值第一的迈瑞医疗 （300760），科创板首家未盈利公司泽璟制药，业内领先、国内极少数具备数据中心企业级SSD"主控 芯片+固件算法+模组"全栈自研能力企业大普微电子……其中有不少关键领域的关键企业，比如国内半 导体EDA工具龙头企业华大九天（301269）、打破国外技术垄断的国产OLED核心发光材料企业莱特光 电等。 值得一提的是，在国中资本的投资版图中，不少企业是在行业尚未爆发之际就已提前"卡位"，如何做 到"比别人早半步"？其背后，是一套涵盖前瞻投研、专业团队、价值坚守与精准识人在内的完整逻辑， 也是一个硬科技投资时代的生动样本。 国家级VC的市场化"打法" 今年6月，国家中小企业发展基金第七批 ...

Core Insights - UCB's drug, Zilucoplan (brand name: Zhuobeike), has received approval from China's National Medical Products Administration (NMPA) for the treatment of adult generalized myasthenia gravis (GMG) patients who are positive for acetylcholine receptor (AChR) antibodies [1] - Zilucoplan is the first and only subcutaneous self-administered C5 complement inhibitor, which can effectively block complement-mediated neuromuscular junction damage, allowing patients to self-administer the injection at home in just 5-8 seconds [1] - The prevalence of generalized myasthenia gravis in China is approximately 220,000 patients, with AChR antibodies detected in 80%-90% of cases [1] Drug Market Overview - Several drugs for generalized myasthenia gravis have entered the Chinese market recently, including UCB's other drug, Rozanolixizumab (brand name: Yudige), which was approved in March and covers both AChR-positive and MuSK-positive patients [1] - AstraZeneca's long-acting C5 complement inhibitor, Riluzole (brand name: WeiliRui), was approved in April for AChR-positive adult GMG patients [2] - Rongchang Biotech's Taitasip (brand name: Tai'ai) was also approved in May for AChR-positive adult GMG patients [2] - The number of subcutaneous injection options remains limited compared to intravenous formulations, with the approval of Efgartigimod (brand name: WeiliJia) in July last year, which requires a longer administration time of 30-90 seconds [2]

Group 1 - The company Rongchang Biologics (09995) announced that its self-developed innovative drug Tai'aisip (泰它西普) for treating IgA nephropathy (IgAN) has achieved the primary research endpoint in the Phase III clinical trial in China [1] - The clinical trial was a multi-center, randomized, double-blind, placebo-controlled study involving 318 adult patients with IgAN who had received standard treatment, with a dosage of 240mg administered subcutaneously once a week [1] - The A stage analysis showed that the Tai'aisip group had a 55% reduction in the 24-hour urine protein-to-creatinine ratio (UPCR) compared to the control group at 39 weeks (P<0.0001), demonstrating good tolerability and safety [1] Group 2 - IgAN is a common primary glomerular disease, with diverse clinical manifestations, and is a major cause of chronic kidney disease and end-stage renal disease in China, with up to 40% of patients reaching end-stage renal disease within 20 years of diagnosis [2] - The academic community believes that the excessive secretion of galactose-deficient IgA1 (Gd-IgA1) is a core factor in the pathogenesis of IgAN [2] - The drug Tai'aisip is a recombinant BLyS/APRIL dual-target fusion protein that inhibits the binding of BLyS and APRIL to B cell surface receptors, effectively reducing pathological immune responses [2]