近日，上海君赛生物股份有限公司（以下简称"君赛生物"）正式向港交所递交招股说明书。招股书显 示，公司专注于实体瘤创新细胞疗法的生物科技公司，其核心产品GC101为全球首款无需高强度清淋化 疗及IL-2给药的肿瘤浸润淋巴细胞（TIL）疗法，承载着成为国内首个获批TIL疗法的期望。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ TIL细胞疗法是指通过离体激活来源于肿瘤组织内部的TIL细胞、规模扩增并注入患者体内发挥疗效。 招股书显示，TIL细胞疗法是目前实体瘤治疗中，临床证据等级最高、疗效最确切的T细胞疗法之一， 已展现出超越PD-（L）1抗体的疗效。 然而，亮眼技术背景背后，是公司关键专利仍在审批存不确定性；公司两年半亏损超3.5亿元，现金流 持续为负，短期债务骤增，账面现金仅余6363万元恐难支撑长期运营；估值五年激增22倍达21亿元，但 上市前已有多家机构要求股权回购，并有股东提前转让套现离场，或反映出投资者对上市周期与公司前 景的信心隐忧。 两年半亏超3.5亿元 核心产品专利仍待审批 从财务数据看，由于公司至今未有产品获批上市销售，缺乏稳定的营业收入来源，公司近年来均处于亏 损 ...

Core Viewpoint - The release of the "Guidelines for the Preparation and Quality Control of Tumor-Infiltrating Lymphocyte (TIL) Preparations" marks a significant step towards the standardized development of TIL technology in China, aiming to enhance the quality and efficiency of TIL treatments for patients with advanced solid tumors [5][6]. Group 1 - The event was co-hosted by the China Association for Medical Biotechnology and the Daxing Biomedical Industry Base, featuring prominent experts and officials from various institutions [1][3]. - TIL cell therapy offers new treatment options for patients with advanced solid tumors who cannot tolerate traditional chemotherapy, potentially allowing young cervical cancer patients to retain their uterus while achieving a cure [3][5]. - The Daxing Biomedical Industry Base is committed to supporting project implementation and results transformation, aiming to create an innovative cluster for cell therapy [3][6]. Group 2 - The formal release of the guidelines provides standards and norms for the preparation and quality control of TIL preparations, indicating a move towards regulatory compliance in the TIL field [5][6]. - A collaboration agreement was signed between the Xunsheng Medical Research Institute and the Beidaihe Rehabilitation Hospital's International Biomedical Center to enhance technical research and clinical applications of TIL [5][6]. - The Daxing Biomedical Industry Base hosts over 30 companies, with more than 60 products under research and 10 companies conducting over 20 clinical trials, showcasing its strength in cell therapy [6][7].