生物制品行业深度报告：PD-1／VEGF双抗有望成为千亿美金市场的基石用药

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>‚P$’Üۀ "“E·<˘>µ $;·<˘>µ 6xÑÑ·6Š31ðµ yuruyi@kysec.cn A÷œ5L-˘S0790523070002 yukeqing@kysec.cn A÷œ5L-˘S0790525010002 nieyuanyuan@kysc.cn A÷œ5L-˘S0790124050002 >‚P$’Üۀ B-×ß łL;!™‰DM˜,”¥ÆMh´#`&D 2 / 29 -$ ‹ 1= PD -1/VEGF˝?QFp yı5˜H8p,”0.)+^9¥F? .................................................................................................... 4 1.1 = PD -(L)1˙lx(5Fp6ı,Zƒ+Æ"æ+˝N…,”0.)+^9¥ ........................................................................................... 4 1.2 = PD -(L)1 ‹˝8p(F›F’ÕU‚2024“ž*98p?œ W525ı5˜y ...................................................................... 6 1.3 = PD -1/VEGFM‹&ï …B¨>›‚˝(Fp0•.j ‹˝+,N¾,”’\&ï ............................................................................. 8 1.4 = PD -1/VEGF˝9¥(Ÿ?QFp yı5˜H8p,”0.)+^9¥F? ............................................................................... 10 2= 3ÝQæ9¥q2PD -1/VEGF˝C‘F‰ ................................................................................................................................ 13 2.1 = PD -1/VEGFP˝C‘F‰.J¥"JÜQ‚FÜE„!,”Ý÷}(BD0#› ................................................................... 13 2.2 = PNflH.ß0#›BDÚIA÷DPD -1/VEGF˝C‘F‰.J-r .................................................................................. 14 2.3 = 3ÝQæ9¥q2C‘F‰‚íï+U(Ÿ)‰~^3»9ífl@8 ............................................................................................ 14 2.3.1= íï+U(Ÿ˘ž*9OÌ!tPD -1/VEGF˝‚IIIUj/jK 9¥9ít:Li]5 Ò ............................................. 14 2.3.2= ⁄2'å/BioNTech˘0%•9vIO+ADCï~‚Uƒ⁄‹)æ8¥‡ …B~˚ ............................................... 16 2.3.3= ?+Ul9¥˘SGJ-707(«E¿*”H.ß0#›‚Uƒ⁄>‚P$’Üۀ B-×ß łL;!™‰DM˜,”¥ÆMh´#`&D 3 / 29 4 20 ˘ Ó"„?µj/jK _* ‹˝9í˝t:Li]5 Ò ............................................................................................................ 20 4 21 ˘ Ó"„?µ ‹˝6Š>aJł9¥ L+˝CEÉø=Û ‹˝6Š>"æ+˝ï~ .................................................................................... 21 4 22 ˘ PD -1/VEGF˝9¥(Ÿ+˝~t:N˜K _* ‹˝ ....................................................................................................... 22 4 23 ˘ Ó"„?µ ‹˝6Š> L+˝II Uƒ⁄mPFS9í->‚P$’Üۀ B-×ß łL;!™‰DM˜,”¥ÆMh´#`&D 4 / 29 1= PD -1/VEGF˝?QFp yı5˜H8p,”