Core Viewpoint - The article discusses the journey of Yimiao Biotech, a company founded by three Tsinghua University PhD graduates, focusing on the development of CAR-T therapy for cancer treatment, particularly leukemia, and its plans for an IPO in 2025 [5][9][29]. Group 1: Company Background and Development - Yimiao Biotech was founded in 2015 by three PhD graduates who were inspired by the revolutionary CAR-T technology that could potentially cure leukemia with a single injection [5][9]. - The company has developed a product matrix around CAR-T therapy and secured a significant sales cooperation deal worth 1 billion RMB with Huadong Medicine [25][28]. - The first product, IM19, targeting CD19 for blood cancers, is expected to be launched in 2026, with its NDA application already accepted [20][26]. Group 2: Challenges and Milestones - The initial five years from 2015 to 2020 were challenging, with the company only obtaining its first IND approval in 2020, while other competitors had already received theirs [11][15]. - The company faced difficulties due to a lack of industry resources and experience, leading to significant investments in building its own GMP facilities [13][15]. - Achieving the IND approval marked a critical milestone for Yimiao Biotech, allowing it to transition into clinical research [15][16]. Group 3: Product Strategy and Market Position - Yimiao Biotech's core strategy focuses on developing innovative drugs that aim for curative effects rather than merely alleviating symptoms [18][20]. - The company is expanding its product pipeline to include treatments for solid tumors and autoimmune diseases, with ongoing clinical trials for products like IM96 and ZM001 [21][24]. - IM19 has shown promising clinical trial results, with an objective response rate of 71% and lower incidence of severe side effects compared to competitors [20]. Group 4: Future Plans and Financial Strategy - Yimiao Biotech plans to leverage its partnership with Huadong Medicine to enhance its market presence and sales capabilities [28]. - The company is preparing for an IPO on the Sci-Tech Innovation Board in 2025, having completed its counseling registration with the Beijing Securities Regulatory Bureau [29][30]. - The next five years are seen as crucial for the company, with strategic planning underway to ensure continued growth and success in the competitive biotech landscape [33].

Core Viewpoint - Beijing Yimiao Shenzhou Biopharmaceutical Co., Ltd. is advancing its IPO process on the Sci-Tech Innovation Board, having signed a counseling agreement with CITIC Securities on July 23 this year [2]. Company Overview - Founded in 2015, Yimiao Shenzhou focuses on innovative drug development using original research gene cell therapy for major diseases such as cancer and autoimmune diseases [2]. - The company has developed a one-stop platform for gene cell drug research and industrialization, with 7 clinical trial approvals in China and 1 in the United States for CAR-T new drugs [2]. Product Pipeline - The research pipeline includes treatments for hematological tumors such as lymphoma, leukemia, and myeloma, as well as solid tumors like liver cancer, gastric cancer, colorectal cancer, and melanoma [2]. - The CAR-T product IM19 targets relapsed or refractory diffuse large B-cell lymphoma (r/r DLBCL) and has submitted a New Drug Application (NDA) in China, which has been accepted [3]. - IM96 is the only CAR-T candidate drug globally that has received clinical trial approval in both China and the United States, specifically targeting GUCY2C [4]. Market Position - IM19's innovative CAR molecular design and production process provide more specific therapeutic effects, significantly improving survival time and quality of life for r/r DLBCL patients, thus filling a market gap for domestically developed CAR-T therapies in China [3]. - IM96 has been approved for treating colorectal cancer in China, marking it as the first CAR-T candidate for this indication in the country [4]. Financing and Investment - Yimiao Shenzhou has completed a total of 10 financing rounds since its establishment, with investors including Foothill Ventures, Tsinghua x-lab, and several other venture capital firms and funds [4].