On June 15, TriApex Laboratories Co., Ltd., which owns around 20,000 laboratory monkeys, submitted a new application for main board listing on the Hong Kong Stock Exchange. According to Frost & Sullivan statistics based on 2025 revenue, TriApex Laboratories ranks first in China's non-clinical research segment for cardiovascular and metabolic diseases and third among domestic CROs specializing in pharmaceutical efficacy studies. The company was co-founded in 2008 by Jiangsu Institute of Materia Medica and Chen Mailin, a Nanjing real estate developer. Dr. Zhang Xuefeng, a pharmacology specialist, joined the firm in 2010. In 2011, Chen Mailin and his wife held 100% equity, kicking off the integration of capital and technical capabilities. TriApex Laboratories was listed on the National Equities Exchange and Quotations (NEEQ) in 2016, and delisted in 2021.

Abogen Biosciences has launched a multicenter Phase III clinical trial for its lyophilized herpes zoster mRNA vaccine, ABO1108, making it the first herpes zoster mRNA vaccine globally to reach this late stage of testing. The vaccine utilizes a proprietary gE protein antigen, base modification technology, and lipid nanoparticle delivery system. A key advantage of ABO1108 is its lyophilized formulation, which remains stable for over two years at standard refrigerator temperatures (2-8°C), addressing logistical challenges associated with current vaccines that require cold storage. Early Phase I and II results demonstrated good safety and tolerability, with high-level immune responses comparable to existing recombinant zoster vaccines. Abogen's accelerated timeline—moving from regulatory approval to Phase III in just seven months—positions the company for a potential first-in-class approval in a competitive market.

June 17, 2026—MoleculeMind Inc., a leading AI protein design platform, has closed its Series A financing round with total proceeds exceeding $100 million. New investors include Blue Bridge Capital, PDVC, COFCO Emerging Industries Fund, Oriental Fortune Capital, Fosun Capital, Guofang Venture Capital, Sepax Technologies (688758), Infinity, Caixin Capital and Zhengding. Existing shareholders Cathay Biotech Inc.(688065) and Neux Capital also made follow-on investments. The diversified investor base reflects strong consensus and shared commitment from financial institutions, industrial capital and strategic policy-backed funds.

On June 8, China’s National Medical Products Administration (NMPA) granted marketing approval to Shanghai Jinkui Medical Devices Co., Ltd. for its independently developed self-expanding single-rivet fully degradable atrial septal defect occluder. While conventional nickel-titanium alloy occluders for congenital heart defects carry long-term risks including nickel allergy, arrhythmia and thrombosis, existing degradable alternatives struggle to balance structural stability and degradability. Leveraging over two decades of technological expertise and industry-university-research collaboration, Jinkui Medical’s groundbreaking product delivers metal-grade sealing stability alongside complete biodegradability. As the world’s only device combining full degradability and self-recovering expansion performance, it features identical surgical handling to traditional metal occluders and stands out amid fierce competition in the domestic congenital heart intervention sector.

Taking type 2 diabetes mellitus as an example, research data published in the Chinese Circulation Journal indicates that the prevalence of diabetes in China reached 15.88% in 2023, with the number of affected individuals surging to 230 million – a 163% increase compared to 2005 (88.48 million). Researchers predict that without timely intervention, the healthcare costs associated with diabetes and its complications (such as retinopathy, nephropathy, and cardiovascular disease) will exceed USD 460 billion by 2030.

Shanghai Juncell Therapeutics Co., Ltd., a biotech company founded in 2019, has filed for an IPO on the Hong Kong Stock Exchange. The company is advancing GC101, the world’s first tumor-infiltrating lymphocyte (TIL) therapy that eliminates the need for high-intensity lymphodepletion or IL-2 administration. In May 2026, GC101 met its primary endpoint in a registrational Phase II trial for advanced melanoma, reducing the risk of progression or death by 57% versus control, earning a Late-Breaking Abstract designation at ASCO 2026—the first solid tumor cell therapy in ASCO history to do so. Juncell plans to submit a BLA to China’s NMPA in Q3 2026, targeting a 2027 market launch as China’s first approved TIL therapy. The company also maintains a diversified pipeline of natural and gene-modified TIL candidates (GC203, GC301, GC304, iGC101) across multiple solid tumors, supported by proprietary DeepTIL™, NovaGMP™, and RiverTIL™ platforms.

On April 27, 2026, China's National Medical Products Administration (NMPA) granted approval to Suzhou Beikang Medical Instrument Co., Ltd. for the country's first pre-implantation genetic testing (PGT) kit targeting thalassemia. Registered as a Class III medical device, the semiconductor sequencing-based kit detects mutations in the HBA1, HBA2, and HBB genes, enabling clinicians to screen IVF embryos for alpha- and beta-thalassemia before implantation. This landmark approval shifts thalassemia prevention from reactive prenatal diagnosis to proactive pre-implantation screening, blocking disease transmission at the source and eliminating the need for late-term pregnancy termination. Developed under the 14th Five-Year Plan National Key R&D Program and fast-tracked through NMPA's priority review channel, the product fills a critical clinical void for millions of carrier couples in southern China's endemic regions, including Guangdong, Guangxi, and Hainan.

Nanochap Electronics Co., Ltd. has unveiled interim GCP trial results for its high-resolution visual brain-computer interface, setting a global record: a patient blind for nearly two decades recognized complex letters one day after implant activation. The breakthrough outpaces conventional artificial retinal devices, which typically require 3–6 months of intensive training to deliver functional vision, marking a key leap from lab research to clinical application. The milestone was delivered by its retinal-pathway E-BCI product, part of the company’s dual-track visual restoration pipeline that also includes a cortical V-BCI offering.

At the Probiota Americas conference in Vancouver, Beijing Bluepha Microbiology Technology Co., Ltd. presented groundbreaking findings from the world's first registered randomized, double-blind, placebo-controlled clinical trial testing a probiotic's ability to promote microplastic excretion in humans. Conducted with Lanzhou University, the trial evaluated Lactiplantibacillus plantarum DT88 (Bluepha Droplastic™ DT88), which was selected from over 10,000 candidate strains through AI-driven screening. Using high-precision Raman spectroscopy to quantify microplastics in stool samples, the study demonstrated three key outcomes: subjects taking DT88 showed total microplastic excretion 3.4 times that of the placebo group; polyethylene (PE) excretion rates were nearly 34 times higher in the DT88 group (P=0.037); and DT88 reversed the concerning accumulation trend of fiber-shaped microplastics, shifting excretion change from -0.32 to +12.46 items/g dry matter. Research published in Environmental Pollution and Frontiers in Microbiology revealed the strain's dual mechanism: physically binding microplastics while repairing gut barrier function through tightened junction proteins and rebalanced cytokines. This milestone represents the first clinical evidence that a probiotic can help the human body flush out accumulated microplastics.

Hainan Biomedical Device Co., Ltd. (Bmdevice), a China-based high-tech medical device company, has filed its prospectus for an initial public offering on the Beijing Stock Exchange. Founded in 2007 and headquartered in Hainan Free Trade Port, Bmdevice specializes in surgical sutures—particularly its flagship FengChuangLing® absorbable knotless suture, the first domestically developed Class III product of its kind in China—and peptide pharmaceutical equipment. The company plans to raise RMB 306 million to expand advanced medical device manufacturing capacity in Ding'an County. Despite strong gross margins (~79%) and robust cash flow, Bmdevice faces challenges including heavy reliance on a single product line (82–85% of revenue from absorbable sutures), intensifying volume-based procurement pressure, and significant R&D investment that has temporarily compressed net profitability. The firm reported FY2024 revenue of RMB 184.8 million and net profit of RMB 69.2 million.

On June 15, TriApex Laboratories Co., Ltd., which owns around 20,000 laboratory monkeys, submitted a new application for main board listing on the Hong Kong Stock Exchange. According to Frost & Sullivan statistics based on 2025 revenue, TriApex Laboratories ranks first in China's non-clinical research segment for cardiovascular and metabolic diseases and third among domestic CROs specializing in pharmaceutical efficacy studies. The company was co-founded in 2008 by Jiangsu Institute of Materia Medica and Chen Mailin, a Nanjing real estate developer. Dr. Zhang Xuefeng, a pharmacology specialist, joined the firm in 2010. In 2011, Chen Mailin and his wife held 100% equity, kicking off the integration of capital and technical capabilities. TriApex Laboratories was listed on the National Equities Exchange and Quotations (NEEQ) in 2016, and delisted in 2021.

Nanochap Electronics Co., Ltd. has unveiled interim GCP trial results for its high-resolution visual brain-computer interface, setting a global record: a patient blind for nearly two decades recognized complex letters one day after implant activation. The breakthrough outpaces conventional artificial retinal devices, which typically require 3–6 months of intensive training to deliver functional vision, marking a key leap from lab research to clinical application. The milestone was delivered by its retinal-pathway E-BCI product, part of the company’s dual-track visual restoration pipeline that also includes a cortical V-BCI offering.

Peripheral Drug-Coated Balloons (Peripheral DCBs) are core consumables for peripheral arterial interventional therapy, suitable for various scenarios such as lower extremity vascular stenosis, in-stent restenosis, and arteriovenous fistula lesions. Compared with traditional stents, peripheral DCBs offer advantages including no foreign body residue post-procedure, lower risk of inflammation, and better long-term prognosis.

In addition to the nephrology field, MIL62 was approved in February 2026 for the treatment of neuromyelitis optica spectrum disorders (NMOSD), becoming the first CD20 antibody drug approved globally for this indication. The company is currently continuing to advance the development of indications for autoimmune diseases such as systemic lupus erythematosus.

In October 2023, Neuracle's brain-computer interface (BCI) product, NEO, completed its first implantation at Xuanwu Hospital of Capital Medical University. A patient who had been quadriplegic for over a decade was able to use "mind control" to grasp a water bottle and independently drink from it following the surgery. This case is also recognized as the world's first wireless minimally invasive BCI implantation.

"Without the support of foundational models, every time a medical AI company enters a new department, targets a new disease type, or adopts a new workflow, it is akin to starting apprenticeship from scratch: reorganizing teams, redeveloping algorithms, refining products anew, and redeploying them. While this approach can yield high-quality point solutions, it makes it difficult to scale to hundreds of products, and even harder to sustain a complex healthcare ecosystem with a team of around 100 people."

The core characteristic of this group is high technological originality; rather than competing for shares in an existing market, they aim to create new therapeutic paradigms. The risk lies in the fact that their technological pathways have not yet been commercially validated, but successful ventures often enjoy the longest period of market exclusivity and the greatest pricing power.

LongBio's pipeline and talent have underpinned the valuation trajectory across its seven rounds of financing. Investors including Oriental Fortune Capital, Highlight Capital, CSPC Pharmaceutical Group, and Qiming Venture Partners consistently participated in follow-on investments. Among the cornerstone investors for the IPO, ten institutions, including OrbiMed Funds, collectively subscribed to approximately USD 87 million, accounting for 49.96% of the shares offered, with a six-month lock-up period, signaling relatively optimistic market sentiment.

Addressing the industry pain point of the "disconnection between R&D and manufacturing," Intellective Bio has pioneered a full-lifecycle business model centered on the concept of "One Molecule, End-to-End Partnership." Its services span the entire value chain, from pre-IND process development and clinical trial manufacturing across all phases to BLA submission and commercial-scale production post-approval, thereby deeply aligning with customers' needs throughout the entire project lifecycle.

During the reporting period, TrueHealth reported revenues of RMB 2.301 million in 2023 and RMB 1.791 million in 2024, primarily derived from sales of its core products, TH-S1 and TH-S, along with associated consumables. In the first half of 2025, revenue amounted to only RMB 173,000, entirely generated from the sale of disposable specialized consumables, with zero contribution from core product sales during the same period. Net losses for each of these years approached the hundred-million-RMB level, and operating cash flow continued to show net outflows.

GlaxoSmithKline’s (GSK) long-acting FGF21 analog, efimosfermin alfa, has received IND acceptance from China’s Center for Drug Evaluation (CDE), marking a major advancement in MASH therapy with once-monthly dosing. Engineered to overcome the short half-life of native FGF21, efimosfermin alfa demonstrates a triple mechanism—reducing liver fat, combating inflammation, and reversing fibrosis. Phase II data published in The Lancet showed that after 24 weeks, 68% of patients achieved MASH resolution without fibrosis worsening, 89% had ≥30% liver fat reduction, and 32% reached full liver fat normalization. The drug’s efficacy is independent of GLP-1 background therapy. Acquired by GSK for up to $2 billion, efimosfermin alfa is now advancing into global Phase III trials (ZENITH-1/2) with over 1,250 planned enrollments, offering new hope for China’s estimated 200–300 million NAFLD patients, 10–20% of whom may progress to MASH.

On June 9, 2026, Everest Medicines entered an exclusive licensing agreement with Vcare Pharma for Vicagrel, a next-gen oral P2Y12 antagonist, in multiple Asia-Pacific markets, paying RMB 20 million upfront. On the same day, GSK announced its $10.6 billion acquisition of Nuvalent to bolster its oncology pipeline with two late-stage NSCLC assets—NVL-520 and NVL-655—both with 2026 PDUFA dates. Separately, Johnson & Johnson agreed on June 8 to acquire Firefly Bio for $1 billion in cash to access its Firelink™ degrading ADC platform targeting pan-KRAS and other intractable cancer drivers.

On May 27, 2026, GlaxoSmithKline (GSK) re-submitted its marketing application for bepirovirsen injection—a first-in-class antisense oligonucleotide (ASO) therapy—for the finite-duration treatment of chronic hepatitis B in China. This follows the rejection of its initial priority-reviewed application on May 25, 2026. The new filing (acceptance number JXHS2600056) targets adult patients on nucleos(t)ide analog therapy with HBsAg ≤3,000 IU/mL and no cirrhosis. Bepirovirsen, licensed from Ionis Pharmaceuticals in a $262M deal, demonstrated statistically significant functional cure rates in Phase III B-Well 1/2 trials involving over 1,800 patients across 29 countries. The drug employs a triple mechanism: degrading HBV RNA, suppressing viral replication and HBsAg, and activating immune response. If approved, it could become the first finite six-month treatment for chronic HBV, transforming the current lifelong therapy paradigm.

According to data cited by both parties, China's advanced wound care market is growing at an annual rate of 6%-8%, far surpassing the 2%-3% growth in Europe and the United States. Within this, the market size for advanced wound dressings is approximately 3 billion RMB. Behind this high growth are multiple contributing factors: the world's largest population of diabetes patients has driven up the incidence of diabetic foot ulcers; an aging population has exacerbated pressure ulcer issues; and demand from surgeries and cosmetic procedures has fueled a surge in scar management.

On May 19, 2026, five major therapeutic breakthroughs were reported: (1) Fractyl Health’s RJVA-001, the world’s first AAV gene therapy for Type 2 Diabetes, entered Phase I/II trials, enabling meal-responsive GLP-1 secretion via pancreatic delivery; (2) Hejia Biotech’s Lp(a)-targeting siRNA drug Kylo-11 completed China Phase II enrollment, showing 96.7% Lp(a) reduction at 24 weeks with potential once-yearly dosing; (3) Sun Yat-sen University’s Fifth Affiliated Hospital launched a new Cell Therapy Center in Zhuhai focusing on cell therapy, gene editing, and brain-computer interfaces; (4) CHIATAI TIANQING partnered with GSK to commercialize Bepirovirsen in China, a 6-month finite-course therapy for functional cure of chronic hepatitis B that met its Phase III primary endpoint; (5) BeOne Medicines’ BCL2 inhibitor Sonrotoclax (Beqalzi) received FDA accelerated approval for relapsed/refractory mantle cell lymphoma, achieving 52% ORR and 16% CR in heavily pretreated patients.

In the first quarter of 2026, innovative drug revenue accounted for 61.69% of Hengrui Pharma's total revenue, a year-on-year increase of 25.75%. Zanubrutinib of BeOne Medicines recorded quarterly sales close to 8 billion yuan. RemeGen registered a net profit attributable to shareholders of 328 million yuan, yet its non-deducted net profit remained negative. Chinese innovative drugs continue to gain greater influence across the global market. In 2025, China held 30% of the world’s investigational new drug pipelines, and the total value of overseas out-licensing transactions surpassed $130 billion. Driven by rising sales of its products covering oncology, metabolic and cardiovascular diseases, immunology and respiratory diseases, as well as growing BD income, Hengrui Pharma achieved steady growth in sales revenue from innovative drugs.

Affected by the licensing news, the share price of Hengrui Pharma surged in the afternoon. Its A-share once rose over 9%, with its market value breaking through the 380 billion RMB mark; its H-share once surged over 16%.

On May 11, 2025, Sino Biopharm announced that its subsidiary CHIATAI TIANQING has entered an exclusive strategic partnership with GlaxoSmithKline (GSK) to accelerate the commercialization of bepirovirsen, a first-in-class antisense oligonucleotide (ASO) therapy with triple mechanism of action, in mainland China. CHIATAI TIANQING will manage import, distribution, hospital access, and all promotional activities, recognizing 100% of sales revenue, while GSK remains the Marketing Authorization Holder responsible for regulatory, quality, and global medical strategy. The initial term is 5.5 years, extendable by mutual agreement. Bepirovirsen, submitted for Chinese marketing approval in March 2026 and granted priority review, demonstrated significant functional cure rates in Phase III B-Well trials and could become the first finite-duration therapy to achieve functional cure for chronic hepatitis B—a disease affecting 75 million people in China and causing over 450,000 annual deaths.

In October 2023, Alebund acquired the exclusive commercial rights in China for Roche's long-acting erythropoietin MIRCERA® (AP601). This global first-in-class long-acting erythropoietin (EPO), administered once monthly, is indicated for the treatment of CKD-related anemia. After being included in the National Reimbursement Drug List (NRDL) in 2024, it experienced rapid uptake, contributing RMB 30.556 million in revenue in 2025, accounting for 100% of total revenue.

For pharmaceutical companies, the significance of the CTP is even more direct: securing a spot provides the most authoritative endorsement for a pipeline asset, after which subsequent clinical advancement, out-licensing deals, and commercial rollout become much easier, sometimes even triggering a surge in stock price. As a result, many companies make it their primary goal to get their assets into the CTP. Historically, CTP slots have been locked down by MNCs.