{"id":629318,"date":"2026-04-05T21:01:04","date_gmt":"2026-04-06T04:01:04","guid":{"rendered":"https:\/\/nai500.com\/?p=629318"},"modified":"2026-04-05T21:01:04","modified_gmt":"2026-04-06T04:01:04","slug":"%e9%bb%91%e7%9f%b3%e5%8b%9f%e8%b3%8763%e5%84%84%e7%be%8e%e5%85%83%ef%bc%8c%e5%89%b5%e7%94%9f%e5%91%bd%e7%a7%91%e5%ad%b8%e5%9f%ba%e9%87%91%e7%b4%80%e9%8c%84","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2026\/04\/%e9%bb%91%e7%9f%b3%e5%8b%9f%e8%b3%8763%e5%84%84%e7%be%8e%e5%85%83%ef%bc%8c%e5%89%b5%e7%94%9f%e5%91%bd%e7%a7%91%e5%ad%b8%e5%9f%ba%e9%87%91%e7%b4%80%e9%8c%84\/","title":{"rendered":"\u9ed1\u77f3\u52df\u8cc763\u5104\u7f8e\u5143\uff0c\u5275\u751f\u547d\u79d1\u5b78\u57fa\u91d1\u7d00\u9304"},"content":{"rendered":"

\u4e00\u53e5\u8a71\u901f\u8b80<\/strong>\uff1a\u9ed1\u77f3\u6700\u65b0\u751f\u547d\u79d1\u5b78\u57fa\u91d1\u8d85\u52df\u81f363\u5104\u7f8e\u5143\uff0c\u70ba\u5168\u7403\u540c\u985e\u6700\u5927\uff0c\u7b56\u7565\u805a\u7126\u665a\u671f\u85e5\u7269\u8cc7\u7522\uff0cPhase 3\u7372\u6279\u7387\u9ad8\u905486%\u3002<\/p>\n

\ud83d\udd22 \u95dc\u9375\u6578\u5b57\u901f\u89bd<\/h2>\n\n\n\n\n\n\n\n\n\n\n
\u6307\u6a19<\/td>\n\u6578\u64da<\/td>\n<\/tr>\n<\/thead>\n
\u57fa\u91d1\u898f\u6a21<\/td>\n63<\/strong>\u5104\u7f8e\u5143<\/strong>\uff08\u786c\u4e0a\u9650\u95dc\u8cec\uff09<\/td>\n<\/tr>\n
\u8f03\u524d\u4e00\u671f\u589e\u9577<\/td>\n+40%<\/strong>\uff082020\u5e74\uff1a46\u5104\u7f8e\u5143\uff09<\/td>\n<\/tr>\n
\u4e09\u671f\u8cc7\u7522\u7372\u6279\u7387<\/td>\n86%<\/strong>\uff08\u9ad8\u65bc\u884c\u696d\u5e73\u5747\uff09<\/td>\n<\/tr>\n
\u5e73\u81fa\u7ba1\u7406\u8cc7\u7522\uff08\u622a\u81f32025\u5e74\u5e95\uff09<\/td>\n\u7d04<\/strong>150<\/strong>\u5104\u7f8e\u5143<\/strong><\/td>\n<\/tr>\n
\u904e\u53bb12\u500b\u6708\u65b0\u6295\u8cc7\u984d<\/td>\n\u8fd1<\/strong>20<\/strong>\u5104\u7f8e\u5143<\/strong><\/td>\n<\/tr>\n
\u5df2\u4fc3\u6210\u85e5\u68b0\u7372\u6279\u6578<\/td>\n34<\/strong>\u9805<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u7b56\u7565\u6838\u5fc3\uff1a\u4e0d\u6295\u516c\u53f8\uff0c\u6295\u201c\u85e5\u65b9\u201d<\/h2>\n
    \n
  • \u9ed1\u77f32018\u5e74\u8d77\u76f4\u63a5\u6295\u8cc7\u55ae\u500b\u665a\u671f\u81e8\u5e8a\u8cc7\u7522\uff08\u4e09\u671f\u70ba\u4e3b\uff09\uff0c\u800c\u975e\u5165\u80a1\u516c\u53f8\u3002<\/li>\n
  • \u901a\u904e\u91cc\u7a0b\u7891\u4ed8\u6b3e+\u92b7\u552e\u5206\u6210\u7372\u53d6\u56de\u5831\uff0c\u7e5e\u958b\u516c\u53f8\u4f30\u503c\u6ce2\u52d5\u3002<\/li>\n
  • \u9ed1\u77f3\u751f\u547d\u79d1\u5b78\u5168\u7403\u8ca0\u8cac\u4ebaNicholas Galakatos\u8868\u793a\uff1a\u201c\u6211\u5011\u7684\u5408\u4f5c\u5925\u4f34\u5df2\u4fc3\u621034\u9805\u5275\u65b0\u85e5\u68b0\u7372\u6279\u2026\u2026\u9019\u8b49\u660e\u6211\u5011\u5982\u4f55\u8207\u884c\u696d\u958b\u62d3\u8005\u5354\u4f5c\uff0c\u5c07\u6700\u91cd\u8981\u7684\u7522\u54c1\u5e36\u7d66\u5168\u7403\u60a3\u8005\u3002\u201d<\/li>\n<\/ul>\n

    \u8fd1\u671f\u5927\u984d\u4ea4\u6613\u4e00\u89bd\uff08\u90e8\u5206\uff09<\/strong><\/p>\n\n\n\n\n\n\n\n\n
    \u6642\u9593<\/td>\n\u5408\u4f5c\u65b9<\/td>\n\u91d1\u984d<\/td>\n\u8cc7\u7522\u9818\u57df<\/td>\n<\/tr>\n<\/thead>\n
    2024<\/td>\nModerna (MRNA)<\/td>\n7.5\u5104\u7f8e\u5143<\/td>\nmRNA\u6d41\u611f\u75ab\u82d7<\/td>\n<\/tr>\n
    2025<\/td>\n\u9ed8\u514b (MRK)<\/td>\n7\u5104\u7f8e\u5143<\/td>\n\u6297\u9ad4\u5076\u806f\u85e5\u7269sacituzumab tirumotecan\uff08\u63db\u53d6\u672a\u4f86\u5206\u6210\uff09<\/td>\n<\/tr>\n
    2025<\/td>\n\u5f37\u751f (JNJ)<\/td>\n4\u5104\u7f8e\u5143\uff08\u5171\u540c\uff09<\/td>\n\u767d\u8840\u75c5\u85e5\u7269bleximenib<\/td>\n<\/tr>\n
    2025<\/td>\nTeva (TEVA)<\/td>\n4\u5104\u7f8e\u5143<\/td>\n\u55ae\u6297duvakitug\uff08\u8207\u8cfd\u8afe\u83f2\u5408\u4f5c\uff0c\u4e09\u671f\uff09<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    \u6240\u6709\u4ea4\u6613\u5747\u805a\u7126\u81e8\u5e8a\u5f8c\u671f\u3001\u76e3\u7ba1\u8def\u5f91\u6e05\u6670<\/strong>\u7684\u8cc7\u7522\uff0c\u986f\u8457\u964d\u4f4e\u5206\u5b50\u5931\u6548\u98a8\u96aa\u3002<\/p>\n

    \u9000\u51fa\u8207\u56de\u5831\uff1a86%\u7684\u6210\u529f\u7387\u5982\u4f55\u8b8a\u73fe\uff1f<\/h2>\n
      \n
    • 2025\u5e74\u6700\u5927\u9000\u51fa\uff1a\u4ee531\u5104\u7f8e\u5143\u5c07Anthos Therapeutics\u51fa\u552e\u7d66\u8afe\u83ef (NVS)\u3002\uff08Anthos\u6838\u5fc3\u8cc7\u7522\u70ba\u9810\u9632\u4e2d\u98a8\u7684\u65b0\u578b\u51dd\u8840\u56e0\u5b50\u6291\u5236\u5291\uff0c\u9ed1\u77f3\u4e3b\u5c0e\u5f9e\u767e\u6642\u7f8e\u65bd\u8cb4\u5bf6\u5206\u62c6\u4e26\u63a8\u9032\u958b\u767c\uff09<\/li>\n
    • \u5df2\u4e0a\u5e02\u4e26\u7522\u751f\u6301\u7e8c\u92b7\u552e\u5206\u6210\u7684\u85e5\u7269\uff1a\n
        \n
      • Alnylam\u7684Amvuttra\uff08ATTR\u6fb1\u7c89\u6a23\u8b8a\u6027\uff09<\/li>\n
      • \u8afe\u83ef\u7684Leqvio\uff08\u964d\u81bd\u56fa\u9187\uff09<\/li>\n
      • \u827e\u4f2f\u7dad (ABBV) &\u5f37\u751f\u7684Imbruvica\uff08\u6162\u6027\u6dcb\u5df4\u7d30\u80de\u767d\u8840\u75c5\uff09<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

        \u5206\u6790\u5e2b\u9ede\u8a55\uff1a\u201c86%\u7684\u4e09\u671f\u7372\u6279\u7387+\u85e5\u54c1\u4e0a\u5e02\u5f8c\u7684\u7d93\u5e38\u6027\u73fe\u91d1\u6d41\uff0c\u8b93\u9ed1\u77f3\u751f\u547d\u79d1\u5b78\u57fa\u91d1\u517c\u5177\u79c1\u52df\u80a1\u6b0a\u8207\u7279\u8a31\u6b0a\u4f7f\u7528\u8cbb\u96d9\u91cd\u5c6c\u6027\u3002\u9019\u6b63\u662f\u6a5f\u69cb\u6295\u8cc7\u8005\u8d85\u52df\u8a8d\u8cfc\u7684\u539f\u56e0\u3002\u201d<\/p>\n

        \u884c\u696d\u4fe1\u865f\uff1a\u51b7\u878d\u8cc7\u74b0\u5883\u4e0b\u7684\u201c\u786c\u9802\u201d<\/h2>\n

        2023\u5e74\u4ee5\u4f86\u751f\u7269\u79d1\u6280\u878d\u8cc7\u6574\u9ad4\u504f\u51b7\u3002PitchBook\u6578\u64da\u986f\u793a\uff0c2024\u5e74\u5168\u7403\u751f\u547d\u79d1\u5b78VC\u52df\u8cc7\u7e3d\u984d\u540c\u6bd4\u4e0b\u6ed1\u7d0415%\u3002\u4f46\u9ed1\u77f3\u3001\u8c9d\u6069\u7b49\u5927\u578b\u53e6\u985e\u7ba1\u7406\u4eba\u7684\u76f8\u95dc\u57fa\u91d1\u52df\u8cc7\u9006\u52e2\u589e\u9577\u3002BXLS VI\u4ee5\u786c\u4e0a\u9650\u95dc\u8cec\u91cb\u653e\u660e\u78ba\u4fe1\u865f\uff1aLP\u6b63\u5c07\u8cc7\u91d1\u96c6\u4e2d\u5230\u64c1\u6709\u6210\u719f\u9000\u51fa\u8a18\u9304\u548c\u7d50\u69cb\u5316\u4ea4\u6613\u80fd\u529b\u7684\u5927\u578b\u7ba1\u7406\u4eba\u624b\u4e2d\u3002<\/p>\n

        \u7d50\u8a9e\uff1a\u9ed1\u77f3\u7684\u201c\u6a4b\u6a11\u201d\u89d2\u8272<\/h2>\n

        Nicholas Galakatos\u7e3d\u7d50\u9053\uff1a\u201c\u6211\u5011\u5c0b\u627e\u7684\u662f\u5df2\u7d93\u770b\u5230\u7642\u6548\u4fe1\u865f\u3001\u53ea\u5dee\u6700\u5f8c\u4e00\u6b65\u5c31\u80fd\u8d70\u5411\u76e3\u7ba1\u548c\u5e02\u5834\u7684\u8cc7\u7522\u3002\u9ed1\u77f3\u7684\u8cc7\u91d1\u548c\u7d93\u9a57\uff0c\u5c31\u662f\u90a3\u5ea7\u6a4b\u6a11\u3002\u201d\u624b\u63e163\u5104\u7f8e\u5143\u65b0\u5f48\u85e5\uff0c\u9ed1\u77f3\u5c07\u7e7c\u7e8c\u5728\u665a\u671f\u816b\u7624\u3001\u81ea\u8eab\u514d\u75ab\u3001RNA\u7642\u6cd5\u3001\u57fa\u56e0\u85e5\u7269\u9818\u57df\u6383\u8ca8\u3002\u5c0d\u65bc\u5c0b\u6c42\u5f8c\u671f\u958b\u767c\u8cc7\u91d1\u7684\u751f\u7269\u88fd\u85e5\u516c\u53f8\uff0c\u9ed1\u77f3\u5df2\u6210\u70ba\u9664\u5927\u578b\u85e5\u4f01\u5408\u4f5c\u4e4b\u5916\u7684\u95dc\u9375\u8cc7\u672c\u65b9\u3002<\/p>\n

        \u4e00\u53e5\u8a71\u7c21\u8a55<\/strong>\uff1a\u9ed1\u77f3\u751f\u547d\u79d1\u5b78\u57fa\u91d1\u7684\u6210\u529f\u52df\u8cc7\uff0c\u662f\u5c0d\u201c\u665a\u671f\u81e8\u5e8a\u8cc7\u7522+\u7d50\u69cb\u5316\u5206\u6210\u201d\u9019\u4e00\u6295\u8cc7\u7bc4\u5f0f\u7684\u5927\u898f\u6a21\u80cc\u66f8\u300286%\u7684\u7372\u6279\u7387\uff0c\u5c31\u662f\u5b83\u5411LP\u8b1b\u51fa\u7684\u6700\u6709\u529b\u6545\u4e8b\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

        \u4e00\u53e5\u8a71\u901f\u8b80\uff1a\u9ed1\u77f3\u6700\u65b0\u751f\u547d\u79d1\u5b78\u57fa\u91d1\u8d85\u52df\u81f363\u5104\u7f8e\u5143\uff0c\u70ba\u5168\u7403\u540c\u985e\u6700\u5927\uff0c\u7b56\u7565\u805a\u7126\u665a\u671f\u85e5\u7269\u8cc7\u7522\uff0cPhase 3\u7372\u6279\u7387\u9ad8 […]<\/p>\n","protected":false},"author":27,"featured_media":496235,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1522,431],"tags":[2500,2126,927,563],"class_list":{"0":"post-629318","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-1522","8":"category-trends-strategies-zh-hant","9":"tag-financing-2-zh-hant","10":"tag--zh-hant","11":"tag-927","13":"sectors-life-science-zh-hant","14":"locations-us-zh-hant"},"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/629318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=629318"}],"version-history":[{"count":3,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/629318\/revisions"}],"predecessor-version":[{"id":629321,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/629318\/revisions\/629321"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/496235"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=629318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=629318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=629318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}