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MSD and Cidara Therapeutics, Inc. (Nasdaq: CDTX) (“Cidara”), a biotechnology company developing drug-Fc conjugate (DFC) therapeutics, today announced that the companies have entered into a definitive agreement under which MSD, through a subsidiary, will acquire Cidara for $221.50 per share in cash, for a total transaction value of approximately $9.2 billion.. 默沙东和Cidara Therapeutics, Inc.（纳斯达克股票代码：CDTX）（“Cidara”），一家开发药物-Fc偶联（DFC）治疗剂的生物技术公司，今天宣布，两家公司已达成最终协议，根据该协议，默沙东将通过一家子公司以每股221.50美元的现金收购Cidara，交易总价值约为92亿美元。“We continue to execute our science-led business development strategy, augmenting our pipeline with CD388, a potentially first-in-class, long-acting antiviral designed to prevent influenza in individuals at higher risk of complications,” said Robert M. Davis, chairman and chief executive officer, MSD. “我们继续执行以科学为主导的业务发展战略，通过CD388增强我们的研发管线，这是一种潜在的首创、长效抗病毒药物，专为预防高风险并发症人群的流感而设计，”默沙东董事长兼首席执行官罗伯特·M·戴维斯表示。“We intend to build on the Cidara team’s remarkable progress and are confident that CD388 has the potential to be another important driver of growth through the next decade, creating real value for shareholders.”. “我们打算在Cidara团队的显著进展基础上继续努力，并且相信CD388有潜力成为未来十年另一个重要的增长驱动力，为股东创造真正的价值。”Cidara’s lead candidate, CD388, consists of a small molecule neuraminidase inhibitor stably conjugated to a proprietary Fc fragment of a human antibody designed to prevent influenza A and B. CD388 is currently being evaluated in the Phase 3 ANCHOR study (NCT07159763) among adult and adolescent participants who are at higher risk of developing complications from influenza. Cidara公司的主要候选药物CD388由一种小分子神经氨酸酶抑制剂与专有的人源抗体Fc片段稳定结合而成，旨在预防甲型和乙型流感。CD388目前正在针对成年及青少年参与者的3期临床试验ANCHOR研究（NCT07159763）中进行评估，这些参与者患流感并发症的风险较高。Supported by results from the Phase 2b NAVIGATE study (NCT06609460), the U.S. Food and Drug Administration (FDA) granted CD388 Breakthrough Therapy Designation. The NAVIGATE study met all primary and secondary endpoints associated with preventing symptomatic laboratory-confirmed influenza in healthy unvaccinated adults ages 18 to 64. 基于第二阶段NAVIGATE研究（NCT06609460）的结果，美国食品药品监督管理局（FDA）授予CD388突破性疗法认定。NAVIGATE研究达到了所有与预防18至64岁健康未接种疫苗成人出现症状的实验室确认流感相关的主要和次要终点。CD388 was previously granted Fast Track Designation by the FDA.. CD388之前已获得FDA的快速通道资格。“This milestone represents a transformational moment for Cidara and for our mission to redefine influenza prevention,” said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. “Thanks to the extraordinary dedication of our team, the Phase 2b NAVIGATE study delivered compelling results that demonstrate CD388’s potential to provide an additional option to vaccines and antivirals to help address unmet needs in influenza prevention. “这一里程碑代表了Cidara的变革时刻，也代表了我们重新定义流感预防任务的变革时刻，”Cidara总裁兼首席执行官Jeffrey Stein博士说道，“由于我们团队的非凡奉献，2b期NAVIGATE研究取得了令人信服的结果，证明了CD388有潜力为疫苗和抗病毒药物提供额外的选择，以帮助满足流感预防中未满足的需求。”MSD’s global development, regulatory and commercial capabilities provide the expertise and resources needed to bring this important innovation to those individuals who need it most.”. MSD的全球开发、监管和商业能力提供了将这一重要创新带给最需要它的个人所需的专业知识和资源。“This acquisition expands and complements our respiratory portfolio and pipeline. Influenza continues to pose a significant global health threat, causing widespread illness, morbidity and death each year especially in older adults and immunocompromised individuals, such as those with cancer and chronic diseases,” said Dr. “此次收购扩大并补充了我们的呼吸系统产品组合和研发管线。流感持续对全球健康构成重大威胁，每年都会导致广泛的疾病、发病和死亡，尤其是在老年人和免疫功能低下的个体中，例如癌症患者和慢性病患者，”博士说道。Dean Y. Li, president, MSD Research Laboratories. “CD388 is a novel late-phase candidate with important strain-agnostic properties being evaluated for the prevention of symptomatic influenza in high-risk individuals.”. 默克研究实验室总裁李耀宇博士表示：“CD388是一种具有重要跨菌株特性的新型晚期候选药物，正被评估用于高危人群的症状性流感预防。”The transaction has been approved by both MSD’s and Cidara's Boards of Directors. Under the terms of the merger agreement, MSD, through a subsidiary, will acquire all of the outstanding shares of Cidara. The acquisition is subject to a majority of Cidara's stockholders tendering their shares in a tender offer that will be initiated by a subsidiary of MSD. 该交易已获得默克公司和Cidara公司董事会的批准。根据合并协议的条款，默克将通过一家子公司收购Cidara所有已发行的股份。此次收购需满足多数Cidara股东在默克子公司即将发起的要约收购中提交其股份的条件。The closing of the proposed transaction will be subject to certain conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. The transaction is expected to close in the first quarter of 2026 and is expected to be accounted for as an asset acquisition.. 拟议交易的完成将取决于某些条件，包括《哈特-斯科特-罗迪诺反垄断改进法案》规定的等待期届满以及其他惯例条件。该交易预计将于2026年第一季度完成，并预计将作为资产收购进行会计处理。A copy of the merger agreement pursuant to the transaction will be filed with the Securities and Exchange Commission (“SEC”) and will be publicly available. In addition, MSD and Cidara will file annual, quarterly and current reports and other information with the SEC, which are available to the public from commercial document-retrieval services and at the SEC’s website at www.sec.gov. 根据该交易的合并协议副本将提交给美国证券交易委员会（“SEC”）并公开供公众查阅。此外，MSD和Cidara将向SEC提交年度、季度和当前报告及其他信息，公众可通过商业文件检索服务以及SEC网站www.sec.gov获取这些信息。Copies of the documents filed with the SEC by MSD may be obtained at no charge on MSD’s internet website at www.msd.com or by contacting MSD at 126 East Lincoln Avenue P.O. Box 2000, Rahway, NJ 07065 USA, or by phone at +1 (908) 740-4000. Copies of the documents filed with the SEC by Cidara may be obtained at no charge from Cidara's internet website at www.cidara.com or by contacting Cidara at 6310 Nancy Ridge Dr #101, San Diego, CA 92121 or by phone at +1 (858) 283-8821.. 向美国证券交易委员会提交的文件副本可于默克公司网站 www.msd.com 免费获取，亦可联系该公司索取，地址：126 East Lincoln Avenue P.O. Box 2000, Rahway, NJ 07065 USA，电话：+1 (908) 740-4000。向美国证券交易委员会提交的文件副本可于 Cidara 公司网站 www.cidara.com 免费获取，亦可联系该公司索取，地址：6310 Nancy Ridge Dr #101, San Diego, CA 92121，电话：+1 (858) 283-8821。Investor Call 投资者电话会议MSD will hold an investor call Monday, November 17, 2025 at 8 a.m. ET to discuss the proposed transaction. Journalists who wish to ask questions are requested to contact a member of MSD’s Media Relations team at the conclusion of the call. Investors, journalists and the general public may access a live audio webcast of the call. 默沙东公司将于2025年11月17日（星期一）东部时间上午8点举行投资者电话会议，讨论拟议的交易。希望提问的记者需在电话会议结束后联系默沙东媒体关系团队的成员。投资者、记者和公众可以通过直播音频收听此次电话会议。Additional details to join the call via dial in will be provided at a later time.. 稍后将提供通过拨号加入通话的更多详细信息。About Influenza 关于流感Influenza is an acute respiratory infection caused predominantly by influenza viruses A and B. An estimated 1 billion people worldwide are infected by seasonal influenza each year. Of the 1 billion, 3-5 million have severe cases of flu. Complications include pneumonia, exacerbation of chronic conditions, sepsis, myocarditis, encephalitis, and death in the most severe cases. 流感是一种主要由甲型和乙型流感病毒引起的急性呼吸道感染。据估计，全球每年有 10 亿人感染季节性流感，其中 300 万到 500 万人患严重流感。并发症包括肺炎、慢性病恶化、败血症、心肌炎、脑炎，最严重的情况下可导致死亡。Globally, an estimated 290,000-650,000 deaths occur due to flu each year with 6,300-52,000 deaths in the U.S.. 全球范围内，每年估计有 29 万至 65 万人因流感死亡，在美国这一数字为 6300 至 52000 人。About CD388 关于 CD388CD388 is an investigational drug-Fc conjugate (DFC) comprised of multiple copies of a potent small molecule neuraminidase inhibitor stably conjugated to a proprietary Fc fragment of a human antibody. DFCs are not vaccines or monoclonal antibodies but are low molecular weight biologics which are designed to function as long-acting small molecule inhibitors. CD388 是一种研究性药物-Fc 偶联物 (DFC)，由多个强效小分子神经氨酸酶抑制剂稳定偶联到人源抗体的专有 Fc 片段组成。DFC 不是疫苗或单克隆抗体，而是低分子量生物制品，设计为长效小分子抑制剂发挥作用。CD388 was designed to prevent influenza infection in individuals at higher risk of influenza complications with the potential to provide season-long protection. CD388 is not a vaccine, therefore its activity is not dependent on an immune response and is expected to be efficacious in individuals regardless of immune status.. CD388旨在预防流感感染，特别针对流感并发症高风险人群，有潜力提供整个季节的保护。CD388不是疫苗，因此其活性不依赖于免疫反应，预计无论个体的免疫状态如何，均能发挥功效。The ANCHOR study 锚定研究The ANCHOR study (NCT07159763) is a Phase 3 randomized, double-blind, placebo-controlled study to evaluate the safety and efficacy of CD388, a novel long-acting antiviral conjugate, for the prevention of influenza in adults and adolescents at higher risk of developing influenza complication. The first participants were dosed in September 2025 and enrollment is ongoing in 150 sites in the Northern Hemisphere across the U.S. ANCHOR研究（NCT07159763）是一项III期随机、双盲、安慰剂对照研究，旨在评估CD388（一种新型长效抗病毒偶联物）在预防高风险流感并发症的成人和青少年中的安全性和有效性。首批参与者于2025年9月接受给药，目前美国北部地区150个试验点正在招募中。and the United Kingdom. The study has a target enrollment of 6,000 participants. The study will include an interim analysis in the first quarter of 2026 to assess the trial size and powering assumptions and to determine the potential need for additional enrollment.. 和英国。该研究的目标是招募6000名参与者。这项研究将在2026年第一季度进行中期分析，以评估试验规模和效能假设，并确定是否需要增加额外的参与者。About Cidara Therapeutics 关于Cidara治疗学Cidara Therapeutics is using its proprietary Cloudbreak® platform to develop novel drug-Fc conjugates (DFC) comprising targeted small molecules or peptides coupled to a proprietary human antibody fragment. These agents can be designed to directly inhibit disease targets while simultaneously directing immune-mediated clearance of disease. Cidara Therapeutics 正在利用其专有的 Cloudbreak® 平台开发新型药物-Fc 偶联物 (DFC)，这些偶联物由靶向小分子或肽与专有的人源抗体片段结合而成。这些药物可以设计为直接抑制疾病靶点，同时引导免疫介导的疾病清除。The two distinct and complementary mechanisms are designed to confer potency and selectivity, while also providing an extended half-life and attracting an immune response to maximize disease eradicating activity.. 这两种独特且互补的机制旨在赋予效力和选择性，同时提供延长的半衰期并吸引免疫反应，以最大化消除疾病的能力。Cidara’s lead DFC candidate, CD388, is a long-acting antiviral designed to achieve universal prevention of seasonal and pandemic influenza. In June 2023, CD388 was granted Fast Track Designation and in October 2025, CD388 was granted Breakthrough Therapy Designation by the FDA. Cidara announced positive topline results from its NAVIGATE study in June 2025 and initiated its ANCHOR study in September 2025. Cidara公司的主要DFC候选药物CD388是一种长效抗病毒药物，旨在实现对季节性流感和大流行性流感的全面预防。2023年6月，CD388获得了快速通道资格，2025年10月，CD388获得了FDA的突破性疗法认定。Cidara于2025年6月宣布了其NAVIGATE研究的积极顶线结果，并于2025年9月启动了其ANCHOR研究。Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.. Cidara总部位于加利福尼亚州圣地亚哥。欲了解更多信息，请访问www.cidara.com。About MSD 关于MSDAt MSD, known as Merck & Co., Inc., Rahway, N.J., USA in the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. 在默沙东（MSD），在美国和加拿大被称为默克公司（Merck & Co., Inc.），我们团结一致，致力于我们的使命：利用前沿科学的力量拯救生命并改善全球人类的生活。130多年来，我们通过研发重要的药物和疫苗为人类带来希望。We aspire to be the premier research-intensive biopharmaceutical company in the world – and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities. 我们立志成为全球首屈一指的研究密集型生物制药公司——今天，我们站在研究的最前沿，致力于提供创新的健康解决方案，推动人类和动物疾病预防与治疗的进步。我们培养多元化和包容性的全球员工队伍，并每天负责任地运营，以确保为所有人和社区创造一个安全、可持续和健康的未来。For more information, visit www.msd.com and connect with us on X (formerly Twitter), LinkedIn and YouTube.. 有关更多信息，请访问 www.msd.com 并在 X（原 Twitter）、LinkedIn 和 YouTube 上与我们联系。Advisors 顾问BofA Securities, Inc. acted as financial advisor to MSD in this transaction and Gibson Dunn LLP as its legal advisors. Evercore and Goldman Sachs & Co. LLC acted as financial advisors to Cidara and Cooley LLP as the company’s legal advisor. 美银证券公司在本次交易中担任MSD的财务顾问，吉布森·邓恩律师事务所担任其法律顾问。Evercore和高盛有限责任公司担任Cidara的财务顾问，科利律师事务所担任该公司的法律顾问。Additional Information and Where to Find it 更多信息及其查找位置This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “anticipates,” “expect,” “intends,” “believes,” “may,” “plan” or “will”. 本发布包含1933年《证券法》第27A条（经修订）和1934年《证券交易法》第21E条（经修订）所指的“前瞻性陈述”。“前瞻性陈述”描述了未来的预期、计划、结果或策略，通常在诸如“预期”、“预计”、“打算”、“相信”、“可能”、“计划”或“将要”等词语之前出现。Forward-looking statements in this release include, but are not limited to, statements related to the potential benefits of and future plans for CD388, the target enrollment and expected timing of the Phase 3 ANCHOR study of CD388 and the interim analysis, the initial number of patients in the U.S. and UK potentially eligible to receive CD388, the potential to obtain approval based on a single Phase 3 study and for a broader patient population including otherwise healthy adults, the potential benefits and accelerated review resulting from Breakthrough Therapy designation; the ability of the company and Cidara Therapeutics to complete the transactions contemplated by the transaction agreement, including the parties’ ability to satisfy the conditions to the consummation of the transaction contemplated thereby, statements about the expected timetable for completing the transaction, the company’s and Cidara Therapeutics’ beliefs and expectations and statements about the benefits sought to be achieved in the company’s proposed acquisition of Cidara Therapeutics, the potential effects of the acquisition on both the company and Cidara Therapeutics, the possibility of any termination of the transaction agreement, as well as the expected benefits and success of Cidara Therapeutics’ product candidates.. 本发布中的前瞻性声明包括但不限于与CD388潜在益处和未来计划相关的声明、第三阶段ANCHOR研究的目标入组人数和预期时间以及中期分析、美国和英国最初可能符合接受CD388条件的患者数量、基于单个第三阶段研究获得批准的潜力及包括其他健康成年人在内的更广泛患者群体、因突破性疗法认定而带来的潜在益处和加速审查；公司和Cidara Therapeutics完成交易协议中设想的交易的能力，包括各方满足该交易所设想的完成条件的能力、关于完成交易的预计时间表的声明、公司和Cidara Therapeutics的信念与期望，以及关于在公司拟议收购Cidara Therapeutics中寻求实现的益处的声明、此次收购对双方公司和Cidara Therapeutics的潜在影响、终止交易协议的可能性，以及Cidara Therapeutics产品候选药物的预期益处和成功。Such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, such as unanticipated delays in or negative results from Cidara’s clinical studies and other risks related to clinical development, delays in or unanticipated action by regulatory authorities, other obstacles associated with the enrollment of participants or other aspects of CD388 or other DFC development, risks related to government contracts, having to use cash in ways other than as expected and other risks, uncertainties associated with Cidara’s business in general; the risk that competing offers or acquisition proposals will be made; the possibility that various conditions to the consummation of the proposed transaction contained in the transaction agreement may not be satisfied or waived (including, but not limited to, the failure to obtain the a sufficient number of tendered shares from Cidara Therapeutics shareholders); the effects of disruption from the transactions contemplated by the transaction agreement and the impact of the announcement and pendency of the transactions on Cidara Therapeutics’ business; the risk that shareholder litigation in connection with the transaction may result in significant costs of defense, indemnification and liability; general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product de. 此类声明受到多种风险和不确定因素的影响，这些风险和不确定性可能导致未来的情况、事件或结果与前瞻性声明中预计的内容存在重大差异，例如Cidara临床研究中出现的意外延迟或负面结果，以及其他与临床开发相关的风险、监管机构可能造成的延迟或意外行动、与CD388或其他DFC开发相关的参与者招募或其他方面的其他障碍、与政府合同相关的风险、不得不以不同于预期的方式使用现金，以及与Cidara业务总体相关的其他风险和不确定性；存在竞争性报价或收购提议的风险；交易协议中规定的拟议交易完成条件可能无法满足或被豁免的风险（包括但不限于未能从Cidara Therapeutics股东处获得足够数量的已投标股份）；由交易协议所设想的交易引起的中断影响，以及交易公告和未决状态对Cidara Therapeutics业务的影响；与交易相关的股东诉讼可能导致高昂的辩护、赔偿和责任费用的风险；行业总体状况和竞争；一般经济因素，包括利率和汇率波动；美国和国际制药行业法规及医疗保健立法的影响；全球范围内控制医疗成本的趋势；竞争对手取得的技术进步、新产品和专利；新产品开发固有的挑战。Neither Cidara nor MSD undertakes any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in Cidara’s and MSD’s respective Quarterly Reports on Form 10-Q for the quarter ended September 30, 2025, Annual Reports on Form 10-K for the year ended December 31, 2024 and other filings subsequently made with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).. Cidara 和 MSD 均不承担任何公开更新前瞻性声明的义务，无论是否由于新信息、未来事件或其他原因，除非法律要求。可能导致结果与前瞻性声明中描述的情况存在重大差异的其他因素，可参见 Cidara 和 MSD 分别于截至 2025 年 9 月 30 日的季度的 10-Q 表季度报告、截至 2024 年 12 月 31 日年度的 10-K 表年度报告，以及其他随后向证券交易委员会 (SEC) 提交的文件，这些文件可在 SEC 的官方网站 (www.sec.gov) 上查阅。Additional Information Regarding the Proposed Transaction 关于拟议交易的更多信息 The tender offer described in this release has not yet commenced. This release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any shares of the common stock of Cidara Therapeutics or any other securities, nor is it a substitute for the tender offer materials described herein. 本新闻稿中描述的要约收购尚未开始。本新闻稿仅供参考，既不是购买 Cidara Therapeutics 普通股或任何其他证券的要约，也不是出售该等证券的要约征集，且不可替代本文所述的要约收购材料。At the time the planned tender offer is commenced, a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents, will be filed by MSD and the Purchaser with the Securities and Exchange Commission (the “SEC”), and a solicitation/recommendation statement on Schedule 14D-9 will be filed by Cidara Therapeutics with the SEC.. 在计划的要约收购开始时，MSD 和收购方将向美国证券交易委员会（“SEC”）提交一份包含收购要约、购买要约、转送函及相关文件的TO 表格要约声明，Cidara Therapeutics 将向SEC 提交一份14D-9 表格的征求/建议声明。Investors and Security Holders Are Urged to Read Carefully Both the Tender Offer Materials (Including an Offer to Purchase, a Related Letter of Transmittal and Other Tender Offer Documents) and the Solicitation/recommendation Statement on Schedule 14d-9 Regarding the Offer, as They May Be Amended From Time to Time, When They Become Available Because They Will Contain Important Information That Investors and Security Holders Should Consider Before Making Any Decision Regarding Tendering Their Securities.. 投资者和证券持有人被敦促仔细阅读要约收购材料（包括购买要约、相关转送函及其他要约收购文件）以及关于该要约的Schedule 14d-9征集/建议声明，因为这些文件可能会不时修订，并在可用时提供，其中将包含投资者和证券持有人在作出任何有关提交其证券的决定前应考虑的重要信息。Investors and security holders may obtain a free copy of the Offer to Purchase, the related Letter of Transmittal, other tender offer documents and the Solicitation/Recommendation Statement (when available) and other documents filed with the SEC at the website maintained by the SEC at www.sec.gov or by directing such requests to the Information Agent for the tender offer, which will be named in the tender offer statement. 投资者和证券持有人可以在SEC维护的网站www.sec.gov上免费获取《购买要约》、相关的《转送函》、其他要约收购文件以及《征集/建议声明》（在可用时）和其他向SEC提交的文件，或者通过向要约收购的信息代理机构提出请求来获取这些文件，信息代理机构的名称将在要约收购声明中列出。In addition, MSD and Cidara Therapeutics file annual, quarterly and current reports and other information with the SEC, which are available to the public from commercial document-retrieval services and at the SEC’s website at www.sec.gov. Copies of the documents filed with the SEC by MSD may be obtained at no charge on MSD’s internet website at www.msd.com or by contacting MSD at 126 East Lincoln Avenue P.O. 此外，MSD 和 Cidara Therapeutics 会向美国证券交易委员会 (SEC) 提交年度、季度和当前报告及其他信息，公众可以通过商业文件检索服务或访问 SEC 的网站 www.sec.gov 获取这些信息。MSD 向 SEC 提交的文件副本可从 MSD 的官方网站 www.msd.com 免费获取，或通过联系 MSD（地址：126 East Lincoln Avenue P.O.）获得。Box 2000, Rahway, NJ 07065 USA, or by phone at +1 (908) 740-4000. Copies of the documents filed with the SEC by Cidara Therapeutics may be obtained at no charge from Cidara Therapeutics’ internet website at www.cidara.com or by contacting Cidara at 6310 Nancy Ridge Dr #101, San Diego, CA 92121 or by phone at +1 (858) 283-8821.. Box 2000, Rahway, NJ 07065 USA，或者拨打+1 (908) 740-4000。Cidara Therapeutics向美国证券交易委员会提交的文件副本可从Cidara Therapeutics的官方网站www.cidara.com免费获取，或者联系Cidara，地址为6310 Nancy Ridge Dr #101, San Diego, CA 92121，电话+1 (858) 283-8821。MSD Investor Contacts: MSD投资者联系方式： Peter Dannenbaum 彼得·丹嫩鲍姆+1 (732) 594-1579 +1 (732) 594-1579Damini Chokshi 达米尼·乔希+1 (732) 594-1577 +1 (732) 594-1577MSD Media Contacts: MSD媒体联系人：John Cummins 约翰·卡明斯john.cummins2@msd.com 约翰·卡明斯2@默克公司.comJustine Moore 贾斯汀·摩尔+1 (347) 281-3754 +1 (347) 281-3754Cidara Therapeutics Investor Inquiries: Cidara Therapeutics投资者咨询：Frank Karbe, Chief Financial Officer 弗兰克·卡尔贝，首席财务官fkarbe@cidara.com fkarbe@cidara.comCidara Therapeutics Media Inquiries Cidara Therapeutics 媒体咨询Prosek Partners for Cidara Therapeutics Brian Schaffer, Kiki Tarkhan, Anne Hart 普罗赛克伙伴公司为西达拉治疗公司，布莱恩·沙弗、基基·塔尔汗、安妮·哈特Pro-Cidara@Prosek.com Pro-Cidara@Prosek.comSource: msd.com 来源：msd.com

Acquisition focused on lead clinical-stage program ICT01 in acute myeloid leukemia, where data from the ongoing Phase I/II EVICTION trial showed high treatment response 专注于急性髓系白血病的领先临床阶段项目ICT01的收购，其中正在进行的I/II期EVICTION试验数据显示出高治疗反应。ICT01 has the potential to be a new standard of care in combination in first line unfit acute myeloid leukemia, an aggressive blood cancer affecting older adults ICT01有潜力成为一线治疗不适合急性髓系白血病的新标准，这是一种影响老年人的侵袭性血癌。Ipsen to acquire all issued and outstanding shares of ImCheck Therapeutics, for which ImCheck Therapeutics’ shareholders will be eligible to receive a closing purchase price of 350 million euros and downstream payments contingent upon achievement of regulatory and sales-based milestones 益普生将收购ImCheck Therapeutics所有已发行和流通的股份，ImCheck Therapeutics的股东将有资格获得3.5亿欧元的交割购买价，以及取决于实现监管和销售相关里程碑的后续付款。PARIS AND MARSEILLE, FRANCE, 22 October 2025 法国巴黎和马赛，2025年10月22日– Ipsen (Euronext: IPN; ADR: IPSEY) and ImCheck Therapeutics today announced they have entered into a definitive share purchase agreement in which Ipsen will acquire all issued and outstanding shares of ImCheck Therapeutics, a private French biotechnology company pioneering next-generation immuno-oncology therapies. – 益普生（Euronext：IPN；ADR：IPSEY）和ImCheck Therapeutics今天宣布，双方已达成一项最终的股份购买协议，根据该协议，益普生将收购法国私营生物技术公司ImCheck Therapeutics的所有已发行和流通股份，该公司致力于开创下一代免疫肿瘤疗法。The anticipated acquisition is focused on the lead Phase I/II program ICT01 in first line acute myeloid leukemia (AML). 预期的收购将专注于一线急性髓系白血病（AML）的领先一期/二期项目ICT01。3 3patients who are ineligible for intensive chemotherapy. ICT01 is a first-in-class monoclonal antibody targeting BTN3A, a key immune-regulatory molecule broadly expressed across cancer, and received Orphan Drug Designations from the U.S. Food and Drug Administration and European Medicines Agency in July 2025.. 不符合强化化疗条件的患者。ICT01 是一种针对 BTN3A 的首创新单克隆抗体，BTN3A 是一种在癌症中广泛表达的关键免疫调节分子，并于 2025 年 7 月获得美国食品药品监督管理局和欧洲药品管理局的孤儿药资格认定。Many AML patients are unable to tolerate intensive chemotherapy and must rely on lower-intensity options, which often deliver limited and short-lived benefit. 许多AML患者无法耐受高强度化疗，必须依赖低强度治疗方案，但这些方案通常效果有限且持续时间较短。2 2 This high-risk, unfit population continues to face a significant unmet medical need, highlighting the urgency for new therapies that can improve survival and quality of life. 这一高风险、不适应人群仍然面临着显著未满足的医疗需求，突显了对能够提高生存率和生活质量的新疗法的迫切需求。“At completion, the acquisition of ImCheck Therapeutics presents an opportunity for us to expand our pipeline in oncology and reinforces our commitment to deliver transformative therapies to the people who need them most,” said David Loew, CEO, Ipsen. “We feel confident that with the ICT01 promising data combined with Ipsen’s global development and commercialization expertise, we are well positioned to start a Phase IIb/III trial in 2026.”. “收购ImCheck Therapeutics完成后，为我们扩展在肿瘤学领域的研发管线提供了机会，并再次彰显了我们致力于为最需要的患者提供变革性治疗的承诺，”益普生首席执行官David Loew表示。“我们相信，凭借ICT01的前景数据与益普生的全球开发和商业化专长相结合，我们有望在2026年启动IIb/III期试验。”Interim data (n=45) orally presented at the annual American Society of Clinical Oncology 2025 中期数据（n=45）在2025年美国临床肿瘤学会年会上口头发表1 1from the Phase I/II EVICTION trial showed treatment with ICT01 in combination with venetoclax and azacitidine (Ven-Aza) achieved very encouraging high responses. In this single-arm trial, treatment response nearly doubled relative to those seen in historical standard of care data across all molecular subtypes in newly diagnosed patients including sub-types typically less responsive to standard of care (Ven-Aza).. 来自I/II期EVICTION试验的数据显示，ICT01与维奈托克和阿扎胞苷（Ven-Aza）联合治疗取得了非常令人鼓舞的高反应率。在这项单臂试验中，治疗反应率几乎比历史标准治疗数据翻了一番，涵盖了所有分子亚型的新诊断患者，包括通常对标准治疗（Ven-Aza）反应较差的亚型。2 2ICT01 in combination with Ven-Aza was also shown to be well tolerated, underscoring ICT01’s potential as a novel immunotherapy to improve outcomes for patients with AML. ICT01与Ven-Aza联合使用也显示出良好的耐受性，突显了ICT01作为改善AML患者预后的新型免疫疗法的潜力。“We are thrilled to become part of Ipsen, a company whose ambition for transformative care matches our commitment to bringing innovative treatments to patients. This transaction recognizes groundbreaking science originating from French academia,” said Pierre d’Epenoux, CEO, ImCheck Therapeutics. “It also highlights the exceptional work the ImCheck team and our partners have achieved to advance the understanding of butyrophilns and gamma delta T cells. “我们非常高兴能够成为Ipsen的一部分，这家公司的变革性护理雄心与我们为患者带来创新治疗的承诺不谋而合。此次交易认可了源自法国学术界的开创性科学成果，”ImCheck Therapeutics首席执行官皮埃尔·德潘努（Pierre d’Epenoux）表示。“这也突显了ImCheck团队和我们的合作伙伴在推进对乳酸球蛋白和伽马德尔塔T细胞的理解方面所取得的卓越成就。”Joining Ipsen will help us accelerate ICT01 toward registrational studies and commercialization. I remain grateful to the patients and investors for their contributions to furthering ImCheck’s pioneering science.”. 加入益普生将有助于我们加速推进ICT01的注册研究和商业化进程。我对患者和投资者为推动ImCheck的开创性科学所做出的贡献深表感谢。Transaction details 交易详情Under the terms of the agreement, through a wholly owned affiliate of Ipsen SAS, shareholders of ImCheck Therapeutics will receive a 350 million euros payment on a cash-free and debt-free basis at closing of the transaction, and deferred payments contingent upon the achievement of specified regulatory approvals and sales-based milestones, for a total potential consideration up to 1 billion euros.. 根据协议条款，通过益普生 SAS 的全资子公司，ImCheck Therapeutics 的股东将在交易完成时获得 3.5 亿欧元的无现金、无债务支付，并在达成特定监管批准和基于销售的里程碑后获得延期付款，潜在总对价高达 10 亿欧元。The transaction is expected to close by the end of Q1 2026, subject to fulfilment of customary closing conditions including the expiration or termination of any required regulatory and governmental approvals under French and U.S. regulations. 该交易预计将在2026年第一季度末前完成，但需满足惯例的交割条件，包括根据法国和美国法规获得任何所需的监管和政府批准的到期或终止。Advisors 顾问Allen & Overy Shearman (Paris) is acting as legal counsel to Ipsen. Centerview Partners is acting as exclusive financial advisor to ImCheck Therapeutics with Goodwin (London) and Dentons (Paris) acting as legal counsel. 安理国际律师事务所（巴黎）担任益普生的法律顾问。Centerview Partners 担任 ImCheck Therapeutics 的独家财务顾问，Goodwin（伦敦）和 Dentons（巴黎）担任其法律顾问。 About the EVICTION trial 关于EVICTION试验EVICTION is a first-in-human, dose-escalation (Part 1) and cohort-expansion (Part 2) clinical trial of ICT01 in patients with various advanced relapsed or refractory solid or hematologic cancers that have exhausted standard-of-care treatment options, as well as newly-diagnosed AML. More information on the EVICTION trial can be found at clinicaltrials.gov (NCT04243499).. EVICTION是一项针对ICT01的首次人体临床试验，包含剂量递增（第1部分）和队列扩展（第2部分），适用于多种晚期复发或难治性实体瘤或血液癌症患者，这些患者已穷尽标准治疗方案，同时也包括新诊断的急性髓系白血病（AML）。有关EVICTION试验的更多信息可访问clinicaltrials.gov（NCT04243499）。About ICT01 关于ICT01ICT01 is a humanized, anti-BTN3A (also known as CD277) monoclonal antibody that promotes the recognition and elimination of tumor cells by γ9δ2 T cells, which are responsible for immunosurveillance of malignancy and infections. The three isoforms of BTN3A targeted by ICT01 are overexpressed on many solid tumors (e.g., melanoma, urothelial cell, colorectal, ovarian, pancreatic, and lung cancer) and hematologic malignancies (e.g., leukemia and lymphomas) and are also expressed on the surface of innate (e.g., γδ T cells and NK cells) and adaptive immune cells (T cells and B cells). ICT01是一种人源化的抗BTN3A（也称为CD277）单克隆抗体，能够促进γ9δ2 T细胞对肿瘤细胞的识别和清除。γ9δ2 T细胞负责对恶性肿瘤和感染进行免疫监视。ICT01靶向的三种BTN3A异构体在许多实体瘤（如黑色素瘤、尿路上皮细胞癌、结直肠癌、卵巢癌、胰腺癌和肺癌）和血液系统恶性肿瘤（如白血病和淋巴瘤）中过表达，并且还表达在先天性免疫细胞（如γδ T细胞和NK细胞）以及适应性免疫细胞（T细胞和B细胞）的表面。Binding to BTN3A is essential for the activation of the anti-tumor immune response of γ9δ2 T cells. By altering the conformation of BTN3A, ICT01 promotes this binding, thereby selectively activating circulating γ9δ2 T cells. This leads to migration of γ9δ2 T cells out of the circulation and into the tumor tissue, and triggers a downstream immunological cascade through secretion of pro-inflammatory cytokines, including but not limited to IFNγ and TNFα, further augmenting the anti-tumor immune response. 与BTN3A的结合对于γ9δ2 T细胞的抗肿瘤免疫反应激活至关重要。通过改变BTN3A的构象，ICT01促进这种结合，从而选择性激活循环中的γ9δ2 T细胞。这导致γ9δ2 T细胞从循环系统迁移到肿瘤组织，并通过分泌促炎性细胞因子（包括但不限于IFNγ和TNFα）触发下游免疫级联反应，进一步增强抗肿瘤免疫反应。Anti-tumor activity and efficacy of ICT01 have been shown in patients across several cancer indications.. ICT01在多个癌症适应症的患者中显示出抗肿瘤活性和疗效。About Ipsen 关于益普生We are a global biopharmaceutical company with a focus on bringing transformative medicines to patients in three therapeutic areas: Oncology, Rare Disease and Neuroscience. 我们是一家全球生物制药公司，专注于在三个治疗领域为患者带来变革性药物：肿瘤学、罕见病和神经科学。Our pipeline is fueled by internal and external innovation and supported by nearly 100 years of development experience and global hubs in the U.S., France and the U.K. Our teams in more than 40 countries and our partnerships around the world enable us to bring medicines to patients in more than 100 countries.. 我们的产品线由内外部创新提供动力，并得到近百年开发经验以及美国、法国和英国的全球中心的支持。我们在 40 多个国家/地区的团队以及世界各地的合作伙伴关系使我们能够将药物带给 100 多个国家/地区的患者。Ipsen is listed in Paris (Euronext: IPN) and in the U.S. through a Sponsored Level I American Depositary Receipt program (ADR: IPSEY). For more information, visit ipsen.com. 益普生在巴黎（泛欧交易所：IPN）和美国通过一级赞助美国存托凭证计划（ADR：IPSEY）上市。欲了解更多信息，请访问ipsen.com。About ImCheck Therapeutics 关于ImCheck TherapeuticsImCheck Therapeutics is developing a new generation of immunotherapeutic antibodies targeting butyrophilins, a novel superfamily of immunomodulators. By unlocking the power of γ9δ2 T cells, ImCheck’s innovative approach has the potential to transform treatments across oncology, autoimmune, and infectious diseases.. ImCheck Therapeutics 正在开发一种针对乳脂球蛋白的新一代免疫治疗抗体，乳脂球蛋白是一种新型的免疫调节剂超家族。通过释放 γ9δ2 T 细胞的力量，ImCheck 的创新方法有潜力变革肿瘤学、自身免疫和传染病的治疗方法。The lead clinical-stage program, ICT01, has been advancing to late-stage trials, demonstrating a unique mechanism of action that modulates both innate and adaptive immunity. These “first-in-class” activating antibodies may deliver superior clinical outcomes compared to first-generation immunotherapy approaches, in particular in rationale combinations with immune checkpoint inhibitors and immunomodulatory anti-cancer drugs. 领先的临床阶段项目ICT01已进入后期试验，展示了一种调节先天免疫和适应性免疫的独特作用机制。这些“首创”激活抗体相较于第一代免疫疗法，尤其在与免疫检查点抑制剂和免疫调节抗癌药物的合理组合中，可能带来更优越的临床效果。Additionally, ImCheck’s pipeline compounds are progressing toward clinical development for autoimmune and infectious diseases.. 此外，ImCheck的管道化合物正朝着自身免疫和传染病的临床开发方向发展。The company benefits from the pioneering research of Prof. Daniel Olive (Institut Paoli Calmettes, INSERM, CNRS, Aix-Marseille University), a global leader in γ9δ2 T cells and butyrophilins, as well as the expertise of a seasoned management team and the commitment of leading French, European and U.S. 公司受益于丹尼尔·奥利弗教授（Daniel Olive，Institut Paoli Calmettes，INSERM，CNRS，艾克斯-马赛大学）在γ9δ2 T细胞和乳铁蛋白领域的开创性研究，以及经验丰富的管理团队的专业知识和法国、欧洲及美国主要机构的全力支持。investors including Kurma Partners, Eurazeo, Bpifrance through its Innobio 2 and Large Venture funds, Andera Partners, Pfizer Ventures, Gimv, EQT Life Sciences, Earlybird, Wellington Partners, Pureos Bioventures, Invus, Agent Capital, Boehringer Ingelheim Venture Fund, Alexandria Venture Investments, and Blood Cancer United (previously LLS)®.. 包括Kurma Partners、Eurazeo、Bpifrance通过其Innobio 2和Large Venture基金、Andera Partners、Pfizer Ventures、Gimv、EQT Life Sciences、Earlybird、Wellington Partners、Pureos Bioventures、Invus、Boehringer Ingelheim Venture Fund、Alexandria Venture Investments以及Blood Cancer United（之前为LLS）®在内的投资者。For further information: 更多信息请参见：https://www.imchecktherapeutics.com/ https://www.imchecktherapeutics.com/Ipsen Contacts 联系人 Investors 投资者Henry Wheeler 亨利·惠勒henry.wheeler@ipsen.com henry.wheeler@ipsen.com+33 7766471149 +33 7766471149Khalid Deojee 哈立德·德奥杰khalid.deojee@ipsen.com khalid.deojee@ipsen.com+33 666019526 +33 666019526Media 媒体Sally Bain 萨莉·贝恩sally.bain@ipsen.com sally.bain@ipsen.com+1 8573200517 +1 8573200517Anne Liontas 安妮·利昂塔斯anne.liontas.ext@ipsen.com anne.liontas.ext@ipsen.com+33 0767347296 +33 0767347296ImCheck Contacts ImCheck 联系人Media 媒体Gretchen Schweitzer (EU and US) 格雷琴·施魏策尔（欧盟和美国）ImCheck@trophic.eu ImCheck@trophic.eu+49 1728618540 +49 1728618540Céline Voisin (France) 塞琳·沃森（法国）Imcheck@atcg-partners.com Imcheck@atcg-partners.com+33 (0)6 62 12 53 39 +33 (0)6 62 12 53 39References 参考文献Dumas et al. γ9δ2 T-cell activation with ICT01 combined with azacitidine-venetoclax for older/unfit adults with newly diagnosed AML: preliminary efficacy and dose selection in Phase 1/2 study EVICTION. ASCO 2025. Available here: Dumas 等人。在γ9δ2 T细胞激活中使用ICT01联合阿扎胞苷-维奈托克治疗新诊断的不适合强化疗的老年AML患者：1/2期研究EVICTION的初步疗效与剂量选择。ASCO 2025。可在此处获取：https://www.ImChecktherapeutics.com/fileadmin/Posters_Prez/ASCO2025-ICT01-AzaVen.pdf https://www.ImChecktherapeutics.com/fileadmin/Posters_Prez/ASCO2025-ICT01-AzaVen.pdfKone AS, Ait Ssi S, Sahraoui S, Badou A. BTN3A: A Promising Immune Checkpoint for Cancer Prognosis and Treatment. Kone AS, Ait Ssi S, Sahraoui S, Badou A。BTN3A：一个有前景的癌症预后和治疗的免疫检查点。Int J Mol Sci 国际分子科学杂志. 2022;23(21):13424. Published 2022 Nov 3. doi:10.3390/ijms232113424 . 2022;23(21):13424. 发表于2022年11月3日. doi:10.3390/ijms232113424Short NJ, Rytting ME, Cortes JE. Acute myeloid leukaemia. Short NJ, Rytting ME, Cortes JE。急性髓系白血病。Lancet 柳叶刀. 2018;392(10147):593-606. doi:10.1016/S0140-6736(18)31041-9 . 2018;392(10147):593-606. doi:10.1016/S0140-6736(18)31041-9Disclaimers and/or forward-looking statements 免责声明和/或前瞻性陈述The forward-looking statements, objectives and targets contained herein are based on Ipsen’s management strategy, current views and assumptions. Such statements involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated herein. 本文件中包含的前瞻性声明、目标和指标均基于益普生的管理策略、当前观点和假设。这些声明涉及已知和未知的风险与不确定性，可能导致实际结果、业绩或事件与此处预期的情况有重大差异。All of the above risks could affect Ipsen’s future ability to achieve its financial targets, which were set assuming reasonable macroeconomic conditions based on the information available today. Use of the words ‘believes’, ‘anticipates’ and ‘expects’ and similar expressions are intended to identify forward-looking statements, including Ipsen’s expectations regarding future events, including regulatory filings and determinations. 上述所有风险均可能影响益普生未来实现其财务目标的能力，这些目标是在假设宏观经济状况合理的情况下根据当前可获得的信息制定的。使用“相信”、“预期”和“预计”等词语及类似表述旨在识别前瞻性陈述，包括益普生对未来事件的预期，包括监管文件提交和决定。Moreover, the targets described in this document were prepared without taking into account external-growth assumptions and potential future acquisitions, which may alter these parameters. These objectives are based on data and assumptions regarded as reasonable by Ipsen. These targets depend on conditions or facts likely to happen in the future, and not exclusively on historical data. 此外，本文件中描述的目标是在未考虑外部增长假设和潜在未来收购的情况下制定的，这些假设和收购可能会改变这些参数。这些目标基于益普生认为合理的数据和假设。这些目标取决于未来可能发生的条件或事实，而不仅仅依赖于历史数据。Actual results may depart significantly from these targets given the occurrence of certain risks and uncertainties, notably the fact that a promising medicine in early development phase or clinical trial may end up never being launched on the market or reaching its commercial targets, notably for regulatory or competition reasons. 鉴于某些风险和不确定性的发生，实际结果可能与这些目标有显著差异，尤其是处于早期开发阶段或临床试验中的有前景的药物，可能最终永远不会上市或达到其商业目标，特别是由于监管或竞争原因。Ipsen must face or might face competition from generic medicine that might translate into a loss of market share. Furthermore, the research and development process involves several stages each of which involves the substantial risk that Ipsen may fail to achieve its objectives and be forced to abandon its efforts with regards t. 益普生可能面临或可能会面临来自仿制药的竞争，这可能会导致市场份额的损失。此外，研发过程涉及多个阶段，每个阶段都存在益普生可能无法实现其目标并被迫放弃相关努力的重大风险。Attachment 附件Ipsen PR_Ipsen to acquire ImCheck Therapeutics_22102025 益普生公关_益普生将收购ImCheck Therapeutics_2025年10月22日

欢迎关注凯莱英药闻 2024年11月25日，Adcendo ApS宣布，公司与映恩生物进一步扩大战略合作，借助映恩生物创新ADC平台技术为Adcendo开发更多ADC药品。两家公司合作始于2023年1月，Adcendo获得了映恩生物的DITAC（映恩免疫毒素抗体偶联平台）连接子-载荷平台的许可，用于开发治疗间充质癌的uPARAP-ADC。2023年5月，Adcendo为两个新型靶点的ADC候选药物再次宣布签署MTA和选择权许可协议；Adcendo 行使此选择权，将推动更多ADC候选产品进入临床开发阶段，不断深化双方合作关系。 同日，Adcendo宣布完成超额认购的1.35亿美元B轮融资，此次融资由美国加州的投资者TCGX领投，所得资金将用于支持多个首创ADC项目进入临床试验并完成临床概念验证。据统计，在2024年获得超1亿美金融资轮次的88家生物科技初创公司中，有11家正在从事ADC药物的研发。 一 关于Adcendo Part.1 公司简介 Adcendo成立于2017年，是哥本哈根大学和Rigshospitalet的分拆公司，其科学创始人发现的新靶点uPARAP受体，也被称为Endo180，在人体细胞外基质的管理中起着关键作用。uPARAP受体能够修复和维持组织，特别是在胶原重塑中；此外，由于在几种癌症类型中过度表达，该受体对癌症也发挥着着重要作用。 Part.2 管线介绍 公司重点管线包括ADCE-T02、ADCE-D01、ADC E-B05和A0401项目。 ADCE-T02：是一种针对组织因子的ADC，最初由普众发现开发；2024年8月，Adcendo获得该药物在大中华区以外的全球独家开发和商业化权利，支付数千万美元的首付款，并在达成后续开发、监管及商业里程碑时，累计支付总计超过10亿美元的总里程碑付款，以及基于全球（不包括大中华地区）净销售额的个位数至低两位数百分比的销售提成。公司计划在澳大利亚进行ADCE-T02的1期试验，并计划在不久的将来获得FDA批准在美国进行研究。 ADCE-D01：是一种针对uPARAP受体的ADC，已获得FDA批准进行人体测试，用于治疗转移性和/或不可切除的软组织肉瘤患者。公司将在转移性和/或不可切除的软组织肉瘤（STS）患者中进行1/2期研究。 Part.3 融资情况 迄今为止，该公司已筹集了2.4亿美元融资。 2021年，公司完成A轮融资5100万欧元，投资者包括Novo Holdings、Ysios Capital、RA Capital Management、HealthCap和Gilde Healthcare等。 2024年，完成了一轮A+轮融资，筹集的总资金达到9800万欧元；投资者包括Novo Holdings、Ysios Capital、Pontifax Venture Capital、RA Capital Management、HealthCap、Gilde Healthcare和KKR控制的平台公司Dawn Biopharma。 本轮融资由TCGX领投，新投资者TPG Life Sciences Innovations、Orbimed Advisors、Venrock Healthcare Capital Partners、Surveyor Capital和Logos Capital以及所有现有投资者参与，包括RA Capital Management、Novo Holdings、Pontifax Venture Capital、Dawn Biopharma（KKR控制的平台）、HealthCap、Gilde Healthcare和Ysios Capital。 二 关于2024年ADC领域的合作 据不完全统计，今年度共发生ADC领域合作六十余起；可统计首付款4.3亿美元，累计总交易金额近300亿美元。其中，国内出海事件22笔，包括百奥赛图、诗健生物、麦科思生物、康宁杰瑞、礼新医药、宜联生物在内的企业均达成多笔合作。 三 关于ADC药物的市场 目前，全球已有15 款ADC获批，其中7 款已在中国获批上市；从适应症来看，其中6 款针对血液瘤、9 款针对实体瘤。 据医药魔方数据统计，ADC 药物在2020-2022 年销售增速分别为50.66%、34.23%和43.88%，2022 年销售额达77.19 亿美元；其中，已上市的ADC 中靶向HER2 的两款ADC 药物Enhertu和Kadcyla 的销售额最高，2023 年销售总额分别达24.56 亿美元和和22.02 亿美元。据Evaluate 最新报告显示，预计2028 年相关的ADC 药物市场规模将再翻两倍增长，达到300 亿美元左右。 全球ADC 药物治疗市场规模（百万美元） 参考资料 1、公司官网 2、药视点、抗体圈、Medaverse、药融圈 2、国泰君安证券、国金证券、申万宏源 感谢关注、转发，转载授权、加行业交流群，请加管理员微信号“hxsjjf1618”。 “在看”点一下