创新药License-out火爆,价值重估进行时

同壁财经
Oct 22, 2025

医药魔方数据显示,2025年上半年License-out交易达72笔,已超2024年全年总量的一半;交易总金额较2024年全年高出16%,其中单笔超10亿美元的交易共16笔。License-out同期首付款总额首次超过一级市场融资总额,成为Biotech企业资金回流的关键路径,BD出海正逐步成为Biotech不可或缺的“输血”渠道。在2020至2025年间,中国企业达成的License-out交易...

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