Core Viewpoint - The collaboration between 思路迪医药 and 楷拓生物 aims to enhance the development of mRNA-based therapies by leveraging their respective strengths in AI-driven mRNA research and large-scale mRNA production [1] Group 1: Strategic Collaboration - 思路迪医药 has entered into a strategic cooperation framework agreement with 楷拓生物, focusing on the integration of their technologies in mRNA research and delivery systems [1] - The partnership will utilize 思路迪医药's proprietary AI+mRNA research platform and lipid nanoparticle (LNP) delivery system alongside 楷拓生物's expertise in mRNA production [1] Group 2: Technological Advancements - 思路迪医药 has established a globally recognized mRNA technology platform and LNP delivery system, which are crucial for the development of innovative therapies [1] - The mRNA technology platform includes a multi-module tumor vaccine analysis system (3D-PreciseAg) that supports extensive antigen multi-omics analysis and selection of tumor antigens [1] - The AI-enhanced LNP delivery technology platform allows for the screening of thousands of compounds, resulting in the synthesis of various LNP products tailored for different delivery scenarios, improving the efficiency and targeting of mRNA tumor vaccines and immune cell therapies [1]

Core Viewpoint - The announcement highlights a strategic cooperation agreement between Sillodic Pharmaceuticals and Kaito Bio, focusing on the development of mRNA-based therapies utilizing Sillodic's proprietary AI+mRNA research platform and lipid nanoparticle delivery system [1] Group 1: Strategic Cooperation - Sillodic Pharmaceuticals entered into a strategic cooperation framework agreement with Kaito Bio on August 20, 2025 [1] - The collaboration aims to leverage Sillodic's self-developed AI+mRNA research platform and lipid nanoparticle delivery system (3D-LNP) alongside Kaito Bio's expertise in large-scale mRNA production [1] - The partnership will enhance cooperation in targeted LNP delivery (tLNP), tumor vaccines, and in vivo CAR-T/NK therapies, with specific implementations to follow in formal agreements [1] Group 2: Technological Advancements - Sillodic Pharmaceuticals has established a globally recognized mRNA technology platform and LNP delivery system [1] - The mRNA technology platform is built on advanced AI technology, featuring a multi-module tumor vaccine analysis platform (3D-PreciseAg) that supports extensive antigen multi-omics analysis and optimal tumor antigen selection [1] - The AI-enhanced LNP delivery technology platform allows for the screening of thousands of compounds through AI algorithms, resulting in various LNP products that improve delivery efficiency and targeting of mRNA tumor vaccines and in vivo CAR-T/NK therapies while significantly reducing toxicity [1]

Group 1 - The core viewpoint of the news is that Sidodi Pharmaceutical has entered into a strategic cooperation framework agreement with Kaito Bio to enhance their collaboration in the mRNA field, leveraging their respective strengths in AI+mRNA research and large-scale mRNA production [1] - The collaboration will focus on targeted LNP delivery, tumor vaccines, and in vivo CAR-T/NK therapies, indicating a significant step in Sidodi Pharmaceutical's commitment to mRNA research and development [1] - This partnership aims to provide robust capacity support for the clinical development and future commercialization of innovative therapies based on mRNA-LNP technology [1] Group 2 - Sidodi Pharmaceutical has established a globally recognized mRNA technology platform and LNP delivery system, which is built on advanced AI technology [2] - The mRNA technology platform includes a multi-module tumor vaccine analysis platform (3D-PreciseAg) that supports extensive antigen multi-omics analysis and the selection of tumor antigens [2] - The company possesses an AI-enhanced LNP delivery technology platform that utilizes AI algorithms to screen thousands of compounds, improving the delivery efficiency and targeting of mRNA tumor vaccines and in vivo CAR-T/NK therapies while significantly reducing toxicity [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 3D Medicines Inc. 思路迪医药股份有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1244） 本公司欣然宣布，思路迪醫藥於2025年8月20日與楷拓生物訂立戰略合作框架協 議（「該協議」）。 根據該協議，雙方將基於思路迪醫藥的自研具有自有知識產權的AI+mRNA研發 平台和脂質體遞送系統(3D-LNP)，與楷拓生物的mRNA規模化生產優勢和經驗， 深化靶向LNP遞送(tLNP)、腫瘤疫苗、in vivo CAR-T/NK等領域的合作。具體實 施將依據後續正式協議落實。此次合作標誌着思路迪醫藥正不斷加速布局mRNA 領域研究，為基於mRNA-LNP技術的創新療法產品後續臨床開發以及未來商業化 提供堅實的產能保障。 思路迪醫藥目前已建立起擁有全球自主知識產權的mRNA技術平台及LNP遞送系 統平台。該mRNA技術平台是基於目前先進的AI技術構建的多模塊腫瘤疫苗分析 平台(3D-Pre ...

Core Viewpoint - Genting Yongying (01952) has seen a stock price increase of over 3%, currently trading at 72.05 HKD with a transaction volume of 231 million HKD, following its strategic investment in Tianjing Bio [1] Group 1: Strategic Investment - Genting Yongying participated in Tianjing Bio's capital increase, acquiring new shares at a price of 1.95 USD per ADS, totaling approximately 30.9 million USD, making it the largest single shareholder of Tianjing Bio [1] - This strategic investment allows Genting Yongying to leverage Tianjing Bio's differentiated 4-1BB platform, dual antibody pipeline, and overseas clinical translation capabilities, creating synergies with its existing mRNA tumor vaccine portfolio [1] Group 2: Tianjing Bio's Pipeline - Tianjing Bio has a differentiated pipeline for tumor-targeted/immunotherapy, including Givastomig (Claudin18.2/4-1BB dual antibody) and Ragistomig (PD-L1/4-1BB dual antibody) [1] - Givastomig is currently being explored in first-line gastric cancer treatment in combination with O drug and chemotherapy, showing data superior to current first-line gastric cancer standard therapies in a Phase Ib study in the U.S. [1] - Ragistomig features a unique molecular design that binds PD-L1 only in the tumor microenvironment and activates 4-1BB, with Phase I data indicating an overall response rate (ORR) and disease control rate (DCR) superior to competing products targeting the same pathway [1]

Core Viewpoint - CloudTop New Horizon (01952) has increased by over 3%, currently trading at 72.05 HKD with a transaction volume of 231 million HKD, following its strategic investment in Tianjing Bio [1] Group 1: Strategic Investment - CloudTop New Horizon has participated in Tianjing Bio's capital increase, acquiring new shares at a price of 1.95 USD per ADS, totaling approximately 30.9 million USD, making it the largest single shareholder of Tianjing Bio [1] - The investment is expected to leverage Tianjing's differentiated 4-1BB platform, dual antibody pipeline, and overseas clinical translation capabilities, creating synergies with CloudTop's existing mRNA tumor vaccine portfolio [1] Group 2: Product Pipeline - Tianjing Bio possesses a differentiated pipeline of tumor-targeted/immunotherapies, including Givastomig (Claudin18.2/4-1BB dual antibody) and Ragistomig (PD-L1/4-1BB dual antibody) [1] - Givastomig is currently being explored in first-line gastric cancer treatment in combination with O drug and chemotherapy, showing superior data compared to current standard therapies in the U.S. Phase Ib study [1] - Ragistomig features a unique molecular design that binds PD-L1 only in the tumor microenvironment and activates 4-1BB, with Phase I data indicating better ORR and DCR compared to competing products targeting the same pathway [1]

Core Viewpoint - CloudTop New Horizon (01952) has seen a stock increase of over 3%, currently trading at 72.05 HKD with a transaction volume of 231 million HKD, following its strategic investment in Tianjing Bio [1] Group 1: Strategic Investment - CloudTop New Horizon has participated in Tianjing Bio's capital increase, acquiring new shares at a price of 1.95 USD per ADS, totaling approximately 30.9 million USD, making it the largest single shareholder [1] - This strategic investment allows CloudTop New Horizon to leverage Tianjing's differentiated 4-1BB platform, dual antibody pipeline, and overseas clinical translation capabilities, creating synergies with its existing mRNA tumor vaccine portfolio [1] Group 2: Tianjing Bio's Pipeline - Tianjing Bio possesses a differentiated pipeline of tumor-targeted/immunotherapies, including Givastomig (Claudin18.2/4-1BB dual antibody) and Ragistomig (PD-L1/4-1BB dual antibody) [1] - Givastomig is currently being explored in first-line gastric cancer treatment in combination with O drug and chemotherapy, showing superior data compared to current standard therapies in the U.S. Phase Ib study [1] - Ragistomig features a unique molecular design that selectively binds to PD-L1 in the tumor microenvironment and activates 4-1BB, with Phase I data indicating better overall response rate (ORR) and disease control rate (DCR) compared to competing products targeting the same pathway [1]

Group 1 - BioNTech's research on mRNA neoantigen vaccines shows potential in treating pancreatic cancer by inducing long-lived CD8+ T cell responses, offering new hope for cancer immunotherapy [1] - The challenge of tumor recurrence and metastasis remains significant in clinical treatment, highlighting the importance of mRNA technology in immune response [1] - Cloud Health's CEO discusses how mRNA technology stimulates T and B cells to create specific immune responses against tumor cells, forming immune memory to reduce recurrence risk [1] Group 2 - mRNA technology shifts drug development from "molecular screening" to "information design," transforming the human body into a smart factory for protein drug production [2] - Despite its advantages, the delivery system poses a major barrier for mRNA technology, as synthesized mRNA is prone to degradation when entering the human body [2] - Cloud Health has made breakthroughs in delivery technology, establishing a proprietary LNP (lipid nanoparticle) delivery platform with patents in ionizable and stealth lipids [2] Group 3 - The third-generation AI algorithm significantly enhances target protein expression levels, enabling Cloud Health to advance mRNA tumor drug development [3] - EVM16 is Cloud Health's first personalized mRNA tumor vaccine entering clinical stages, with the first patient dosing completed in March 2025 [3] - EVM14 is a universal therapeutic vaccine targeting five tumor-related antigens, intended for the treatment of squamous cell carcinoma [3]

Core Insights - The mRNA industry is transitioning from a pandemic-driven boom to a critical transformation phase, with significant potential in cancer immunotherapy and personalized medicine [1][6][7] - Major players like BioNTech and Moderna are adjusting their strategies in response to declining revenues from COVID-19 vaccines, focusing on expanding their cancer treatment pipelines [6][7] Industry Developments - mRNA technology has shown promise in various applications beyond vaccines, including therapeutic vaccines, cancer immunotherapy, and regenerative medicine [4][5] - The market potential for mRNA cancer vaccines is projected to reach hundreds of billions of dollars, driven by their accessibility and personalization capabilities [1][4] Company Strategies - BioNTech has made strategic acquisitions to enhance its capabilities in mRNA cancer immunotherapy, including a $1.25 billion acquisition of CureVac [1] - Moderna is facing financial challenges, with a projected revenue drop of 33% in 2025, leading to workforce reductions [6][7] Market Dynamics - The Chinese mRNA sector is experiencing a bifurcation, with some companies like Simao Biotechnology facing financial difficulties, while others are making significant advancements [8][9] - Chinese companies are gaining international recognition, with successful FDA approvals for innovative mRNA cancer vaccines [9] Future Outlook - The mRNA industry is expected to evolve towards a model where drug development is based on "coding nucleic acid sequences," potentially revolutionizing treatment for various diseases [5][10] - The success of Chinese mRNA companies in the competitive landscape will depend on their ability to leverage business development opportunities for rapid monetization [10]

Core Insights - The pharmaceutical industry in China is undergoing a significant transformation from a focus on generic drugs to innovation-driven development, particularly in mRNA technology and other advanced therapies [1][4][10] - The traditional model of "using generics to support innovation" is becoming unsustainable as over 60% of generic drug companies have seen profit margins fall below critical levels [1][4] - Major players like Heng Rui and others are adapting by streamlining operations and focusing on innovative drug development to maintain competitiveness in a rapidly evolving market [5][10] Company-Specific Developments - Heng Rui Pharmaceutical is investing in mRNA production lines to support clinical trials for cancer vaccines, indicating a strategic shift towards cutting-edge technology [1] - The company has seen its market capitalization drop from over 610 billion RMB in 2020 to approximately 355.2 billion RMB in 2025, reflecting the challenges posed by national drug procurement policies [3] - Heng Rui has reduced its sales team from 17,138 in 2020 to 8,910 by 2024, a decrease of about 48%, as part of its restructuring efforts [5] Industry Trends - The implementation of national drug procurement policies has significantly impacted profit margins for traditional pharmaceutical companies, forcing them to innovate or face decline [4][10] - The market is witnessing a shift where innovative drug companies are gaining market share, with companies like Innovent Biologics and others achieving substantial valuations [8][9] - The total value of out-licensing deals for innovative drugs in China reached approximately 36.9 billion USD in early 2025, indicating a robust market for innovative therapies [8] Future Outlook - The industry is expected to see increased consolidation, with a focus on high-value innovative drugs while low-margin generic drugs may be phased out [10][12] - Companies are encouraged to adopt a "dual-platform strategy," maintaining generics for cash flow while developing innovative drug platforms to attract investment [10][11] - The integration of AI technology in drug development is anticipated to accelerate the process and reduce costs, further enhancing the competitive landscape [15][16]