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The IgA nephropathy market: a RMB 500 million-monthly blue ocean turns red

More than 10 new drugs are set to flood the IgA nephropathy market. Previously, the IgA nephropathy treatment market was relatively quiet, as the pathogenesis was unclear and treatment approaches only addressed symptoms rather than the root cause.

FINANCE

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September 15, 2025

ArkBio submits to HKEX, specializing in respiratory and pediatric disease treatments

On September 15, Shanghai Ark Biopharmaceutical Co., Ltd. ("ArkBio") has submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with J.P. Morgan and CITIC Securities acting as joint sponsors. Founded in 2013, ArkBio specializes in respiratory and pediatric diseases, with a pipeline of six drug candidates. Key products include: - Ziresovir, the world’s first RSV therapy under NDA review; - AK0610, a Phase II monoclonal antibody for RSV prevention; - AK3280, in Phase II trials for idiopathic pulmonary fibrosis; - AK0901, an ADHD drug at the NDA stage. Financially, ArkBio reported losses of RMB 270 million (2023), RMB 197 million (2023), RMB 87.5 million (mid-2025), and RMB 104 million (mid-2025).

INNOVATION

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September 16, 2025

World's first generic Degarelix approved for marketing

On September 15, CTTQ Pharma—a core subsidiary of Sino Biopharmaceutical Limited (1177.HK)—obtained marketing approval from China's National Medical Products Administration (NMPA) for its generic Degarelix Acetate for Injection, indicated for prostate cancer patients requiring androgen deprivation therapy. As the world's first successfully developed generic version of degarelix acetate, the product has already received marketing authorization in Europe and tentative approval in the United States. Through a successful patent challenge, the company has secured 12-month market exclusivity in China, establishing a benchmark for overcoming patent barriers in developing complex generic formulations.

MNC CHINA LENS

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September 11, 2025

Eli Lilly's BTK Inhibitor Enters the Autoimmune Disease Therapeutic Field

On September 11th, the official website of the Drug Clinical Trial Registration and Information Disclosure Platform showed that Eli Lilly has registered a Phase I/II, dose-finding study (CTR20253341) in China, which aims to evaluate the safety and efficacy of pitobrutinib in adult patients with immune thrombocytopenia.

INSIGHT

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September 15, 2025

With RMB 8 billion invested in four years: is Changchun High-Tech's innovative drug research finally paying off?

The stock price of Changchun High-Tech has regained strength after a prolonged period of weakness, primarily driven by its core subsidiary, Changchun GeneScience Pharmaceutical Co., Ltd. (GenSci), and its sustained investment in innovative drug development. Since 2021, GenSci has invested nearly RMB 8 billion in R&D to seek new growth drivers.

RESEARCH

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September 04, 2025

Kaiyuan Securities: Tracking Global Cutting-Edge Progress in the Weight Loss Sector (II) — Orforglipron Leads the Global Small-Molecule GLP-1RA Race as Domestic Pipeline Value Gradually Emerges

Small-molecule GLP-1RAs offer numerous advantages, including low cost, unrestricted usage scenarios, and no need for cold-chain transportation, giving them broad development prospects. In the small-molecule GLP-1RA race, Eli Lilly and Company’s Orforglipron has completed global Phase III trials for both diabetes and obesity, maintaining a leading position worldwide. AstraZeneca’s AZD5004, Roche’s CT-996, Lilly’s Naperiglipron, and Terns’ TERN-601 have all entered Phase II, with overall progress advancing rapidly. Among domestic companies, Hengrui Pharma, Huadong Medicine, and Ascletis Pharma, among others, are actively building small-molecule GLP-1RA pipelines. In recent years, this track has witnessed multiple high-profile BD transactions, and its growth momentum continues to strengthen.

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September 03, 2025

2025 Chemical Pharmaceutical Enterprises Organizational Efficiency Report

As of August 8, 2025, Shunwei Consulting collected organizational effectiveness data for 158 publicly listed chemical pharmaceutical companies through databases such as iFind. Among these, 111 are finished-dosage chemical drug companies and 47 are active pharmaceutical ingredient (API) companies.


Considering both company influence and revenue, companies with negative net profit (e.g., BeOne Medicines, Nenter) were excluded. From the remaining A-share listed companies, the top 10 chemical pharmaceutical companies by revenue were selected as benchmark enterprises for organizational effectiveness analysis.


To provide a comprehensive view of the industry, the selected companies cover various segments: innovative drug R&D (e.g., Hengrui Medicine, Humanwell Healthcare), high-end generics and internationalized formulations (e.g., Fosun Pharma, Kelun Pharma), and specialty APIs and complex formulations (e.g., Apeloa Pharmaceuticals, Livzon Group).

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September 02, 2025

Global Healthcare Investment and Financing Monthly Report for August 2025

In August 2025, a total of 150 financing events occurred globally in the healthcare sector (excluding IPOs, private placements, etc.), with a disclosed total financing amount of approximately USD 3.647 billion (around RMB 26.032 billion), according to incomplete statistics from VCBeat. Among these, the domestic market recorded 81 financing events with a total disclosed amount of approximately USD 942 million, while the overseas market recorded 69 financing events totaling approximately USD 2.705 billion.


Compared with July 2025 in terms of transaction amounts, number of financing events, and focus on emerging fields, the number of global healthcare financing events in August 2025 increased by approximately 11.11% month-on-month, while the total financing amount fell sharply by about 47.27%.


Regarding large financing events, 10 deals exceeded USD 100 million this month, with a cumulative financing amount of USD 1.511 billion. Among these, 9 occurred overseas and 1 domestically. The 10 companies are:


Kriya Therapeutics – gene therapy drug developer

EliseAI – healthcare system developer

Strand Therapeutics – biopharmaceutical company

Minghui Pharma – innovative drug developer

Apreo Health – device developer for emphysema treatment

Wugen – cell therapy developer

SetPoint Medical – developer of novel bioelectronic medical therapies

Restor3d – 3D-printed implant supplier

Eight Sleep – sleep health service provider

Nudge – developer of ultrasonic phased-array equipment

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RANKING

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September 16, 2025

Top innovative healthcare assets in China ranked for August 2025
An overview of China’s healthcare ecosystem in August through the lens of capital. The latest rankings of investment deals, active investors, and major BD transactions reveal where value is taking shape. Explore the trends shaping biopharma, medtech, and beyond.

August 05, 2025

Top innovative healthcare assets in China ranked for July 2025
An overview of China’s healthcare ecosystem in July through the lens of capital. The latest rankings of investment deals, active investors, and major BD transactions reveal where value is taking shape. Explore the trends shaping biopharma, medtech, and beyond.

July 05, 2025

Top innovative healthcare assets in China ranked for June 2025
This ranking highlights the latest publicly disclosed fundraising events and business development deals, offering a clear view of the evolving landscape of China's healthcare market.

May 10, 2025

Future Healthcare Rankings in China Top Ten Healthcare Industry Service Chain Companies in 2025
This ranking targets non-listed enterprises in the healthcare sector. Based on the VB100 Value Assessment Model, the selection process involves enterprise self-nomination, review by the VB100 Evaluation Committee, cross-review by supporting institutions, and final approval by an expert committee. From the category of healthcare industry chain services, the top 100 innovative companies by valuation are selected (this article excerpts the top 10 ranked enterprises). Beyond valuation, supplementary research will be conducted on the growth and annual performance of candidate enterprises across four primary indicators—human resources, knowledge resources, key partnership resources, and market performance—comprising a total of 17 secondary metrics.

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