From monoclonal antibodies to bispecific antibodies, from multinational giants to innovative biotech companies, a competition centered on extended duration, patient compliance, and therapeutic innovation is now in full swing within the hundred-billion-dollar blue ocean of the ophthalmology market. Later entrants, represented by companies such as Innovent Biologics, RemeGen, NovaBridge Biosciences, and YZY MED, are stepping onto center stage with an unprecedented proactive stance.

With leading Chinese innovative drug companies and multinational corporations (MNCs) continuing to expand their presence in the small nucleic acid therapeutics sector, this field has now entered the core track of innovative drug R&D. In the future, major developments in this area are expected to emerge successively.

Historically, this therapeutic area has been dominated by single-target agents such as SGLT2 inhibitors and Angiotensin II Receptor Blockers (ARBs). Although these drugs hold significant market share, intensifying homogeneity and competition have followed patent expirations and the entry of generic alternatives. Against this backdrop, the scarcity of innovative assets with unique mechanisms of action has become prominent. The dual-target design of MT1013 aligns precisely with the industry's demand for "differentiated innovation," which is central to the rationale for its substantial licensing fee.

Pumecitinib is a fully proprietary JAK1/2 inhibitor for the treatment of allergic rhinitis. It has completed Phase I/II clinical studies and is currently in Phase III clinical trials. Its developer, PrimeGene Therapeutics, is a biotechnology company focused on immune-inflammatory diseases and is currently pursuing an initial public offering on the Hong Kong Stock Exchange.

A breakthrough in delivery technology is a prerequisite for the success of small nucleic acid drugs. The focus of this collaboration lies in the announcement by SanegeneBio and Genentech that they will jointly advance the development of an RNAi therapeutic based on SanegeneBio's proprietary RNAi drug discovery platform. Currently, SanegeneBio possesses a self-developed GalNAc liver-targeted delivery platform and a proprietary LEAD™ (Ligand and Enhancer Assisted Delivery) extrahepatic delivery platform.

Among the transaction's projects, the product involved in the collaboration and licensing between CSPC Megalith Biopharmaceutical and AstraZeneca primarily relates to an innovative peptide molecule along with related technologies and products, currently in the preclinical research stage. It aims to provide a longer-lasting treatment solution for individuals with obesity and weight-related concerns. Furthermore, there exists the possibility for CSPC Megalith Biopharmaceutical and AstraZeneca to engage in strategic collaboration on other related projects in the fields of innovative peptide molecule discovery and long-acting delivery product development.

SIM0709 is a novel long-acting humanized bispecific antibody developed from Simcere's proprietary multi-specific antibody platform. It simultaneously targets Tumor Necrosis Factor-like Ligand 1A (TL1A) and Interleukin-23 (IL-23), blocking two core pathways that drive the onset and progression of Inflammatory Bowel Disease (IBD). This positions SIM0709 with first-in-class potential in the treatment of IBD.

At the beginning of 2026, the latest report from Evaluate highlights ten innovative therapies, spanning multiple fields such as metabolic diseases, oncology, and autoimmune disorders, that it projects are poised for potential FDA approval this year. These therapies not only exemplify scientific progress but also herald shifts in treatment paradigms in the coming years.

Will Chinese biopharmaceutical companies pose a global threat? Is the U.S. Biosecurity Act affecting China? How should the U.S. and Europe respond to China's competition, and what opportunities exist for collaboration? Is cost-effectiveness the primary competitive advantage of Chinese biopharmaceutical companies?

In mid-2025, EY-Parthenon predicted that the global medical device market would grow at an annual rate of approximately 6%, indicating steady overall market expansion. The medical device industry is undergoing a shift in growth drivers, with multinational corporations (MNCs) intensively divesting or selling off underperforming or slower-growth businesses to focus on higher-growth segments. While certain areas of the industry are losing momentum, which emerging segments are rising to become the new engines of growth?

This drug candidate is intended for the prophylactic protection against food allergens and is currently in Phase IIb clinical development. Pursuant to the agreement, GSK will obtain the global rights (excluding Chinese Mainland, Hong Kong, Macau, and Taiwan) to develop and commercialize ozureprubart. Concurrently, GSK will assume the responsibility for future success-based milestone and royalty payments owed to RAPT's partner, Shanghai Jeyou Pharmaceutical Co., Ltd.

The journey of innovative drug development, from target discovery and drug design through clinical trials to commercialization, typically spans a decade, with a failure rate exceeding 90%. This is the current industry reality—it cannot be compressed, shortened, or "financial engineered." While AI algorithms are increasingly being applied to drug discovery, to date, no drug fully designed by AI has received market approval.

At JPM 2026, 24 Chinese innovative biopharmaceutical companies presented in the main conference and Asia-Pacific sessions, while an even greater number completed significant licensing deals with multinational corporations during the event. In key focus areas at JPM 2026, such as antibody-drug conjugates (ADCs), metabolic diseases, and cell and gene therapies, Chinese innovative drugs have become an indispensable source of value.

VCBeat has learned that YH01, a domestically developed novel oncolytic virus drug independently researched and developed by Beijing Yinmei Future Biomedical Technology Co., Ltd. (hereinafter referred to as "Yinmei Future"), has recently disclosed the phase Ⅱ clinical trial progress for high-risk Non-Muscle Invasive Bladder Cancer (NMIBC). Preliminary data show that among 11 evaluable patients, 9 achieved complete response (CR), with a CR rate of 81.8%, which provides a new biological treatment pathway exploration for the clinical challenge of bacillus calmette-guerin (BCG) treatment failure. In particular, among patients who received 6 doses, the 3-month CR rate reached 87.5%, and the 6-month CR rate reached 80%.

Precision is a global leader in invasive brain-computer interfaces and a major competitor to the well-known Neuralink, owned by Musk. Its Layer 7 brain-computer interface, which utilizes a high-resolution cortical electrode array, received FDA approval in April of last year. It can be implanted into patients' brains for up to 30 days, enabling individuals with severe paralysis to control electronic devices such as computers and smartphones through their thoughts.

Recently, disease control and prevention centers across China have rolled out subsidized vaccination initiatives for herpes zoster. Two approved herpes zoster vaccines in China have undergone significant price reductions: the second dose of GSK's imported recombinant herpes zoster vaccine (brand name: Shingrix®) is now offered free of charge, while the domestic herpes zoster live attenuated vaccine produced by BCHT (brand name: Gan Wei) is available at a discount of 30% to 80%.

On the opening day of the A-share market in 2026 (January 5), Chinese brain-computer interface concept stocks collectively opened higher. Among them, Beoka surged over 29.98%, while SanBo, Xiangyu Medical, Mehow Medical, Apon Medical, Chieftain, and Vishee Medical all hit the 20% daily price limit. Innovative Medical and Thalys Medical rose over 10%, with Biotest and Vishee Medical, among others, also gaining. As of the market close that day, the stock prices continued to exhibit a high-opening-and-high-trading trend, reflecting strong market expectations for the commercial prospects of brain-computer interface technology.

ZG006 is a novel trispecific T-cell engager targeting two distinct DLL3 epitopes and CD3. It represents the world's first DLL3-targeting trispecific antibody (CD3/DLL3/DLL3) with best-in-class potential. Currently, it is in late-stage clinical development for the treatment of small cell lung cancer (Phase III) and other DLL3-expressing malignancies.

This trend not only marks the transition of bispecific antibody technology from a niche field to a mainstream focus but also signals its potential to replace traditional monoclonal antibodies and antibody-drug conjugates as the cornerstone of next-generation biopharmaceutical development.

With revenue from drug discovery and pipeline development accounting for over 90% of its total income and its gross margins reaching 90%, how has this company—founded seven years ago and having completed eight funding rounds—convinced the secondary market to assign a premium valuation to its "AI-driven drug discovery platform and AI-empowered pipeline"?