幸福的Biotech都是相似的,不幸的Biotech各有各的不幸。2025年，对于国内众多Biotech而言，是极为“割裂”的一年。一方面，是以ADC、TCE、双抗、小分子等为代表的modality积极出海，频获BD大单；另一方，是以体外CAR-T、AAV基因治疗等为代表的CGT赛道全面遇冷——融资难、BD难、商业化难……从相关行业的上市公司业绩表现来看，现阶段确实难言乐观。图1. CGT相关...
Source Link幸福的Biotech都是相似的,不幸的Biotech各有各的不幸。2025年，对于国内众多Biotech而言，是极为“割裂”的一年。一方面，是以ADC、TCE、双抗、小分子等为代表的modality积极出海，频获BD大单；另一方，是以体外CAR-T、AAV基因治疗等为代表的CGT赛道全面遇冷——融资难、BD难、商业化难……从相关行业的上市公司业绩表现来看，现阶段确实难言乐观。图1. CGT相关...
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