Charles River Laboratories, Inc.

BFC Group简介BFC Group是一家立足于中国的精品投行，专注于医疗健康领域的并购、专利许可、融资。我们的业务板块涉及中国、美国和欧洲，曾与国内外众多领先的医疗健康公司有过合作并保持着良好的关系。随着在美国和中国一线运营经验的不断积累，我们对客户在本土之外建立公司或扩展业务所面临的挑战有着深刻的理解。立于塔顶，高瞻之见。使命愿景紧跟医疗健康领域趋势，通过合作推动科学突破与创新。依客户需求制定战略拓展计划，并在目标市场全方位落实与执行。成为专注医疗健康行业最优秀的投资银行。No.1香港资本市场香港股市总体概览美国征收“对等关税”引发贸易冲突升级和经济衰退危机继续冲击市场。恒生指数周一下跌13.22%，即1997年亚洲金融危机后港股最大单日跌幅，后受一系列政策面利好举措刺激，港股亦小幅回暖，截止上周五，累计下跌8.5%。2025年至今，恒生指数累计上涨4.3%。上周，恒生医疗保健指数(HSHCI)累计下跌9.3%。成分股中，仅一脉阳光、乐普生物-B、东阳光长江药业、京东健康、微创机器人-B和锦欣生殖录得涨幅。消息面上，当地时间4月8日，美国总统特朗普发表讲话称，美国将对药品征收关税。此外，4月11日，据外媒FoxBusiness资深记者Charles Gasparino报道，特朗普政府正考虑将中国上市公司股票从美国交易所摘牌。即将上任的美国证券交易委员会(SEC)主席Paul Atkins可能在正式就职后处理摘牌事宜。对此，再鼎医药已第一时间发布声明，表示公司符合美国《外国公司问责法案》(HFCAA)，不受退市影响，然港个股仍受恐慌情绪影响，周累计下跌23%。2025年至今，医药板块领先大盘，恒生医疗保健指数累计上涨15.7%，高于恒生指数11.4个百分点。香港股市医疗健康板块概览2025年3月恒生医疗保健指数上涨7.4%。上周市值前20个股大多下跌。4月8日，中国国家药监局（NMPA）官网最新公示，由翰森制药申报的枸橼酸艾瑞芬净片的新药上市申请已获得批准。根据翰森制药早先新闻稿，艾瑞芬净是一款全新三萜类结构的糖原合成酶抑制剂，同时具有口服和静脉制剂的治疗优势，本次获批用于成年和初潮后女性外阴阴道念珠菌病（VVC）的治疗。艾瑞芬净最初由SCYNEXIS公司开发。2021年2月，翰森制药与SCYNEXIS签订授权协议，负责艾瑞芬净在中国的开发、监管批准及商业化。香港股市医疗健康板块证券发行2024年共计有12家企业上市(其中3家为依照18A新规上市的未盈利生物医药公司)，共募集金额54.0亿港元。2025年截至目前，共有2家企业上市(其中1家为依照18A新规上市的未盈利生物医药公司)，数量与去年同期持平，金额总数上领先去年同期70.5%。上周无新增IPO。2024年共计19家企业完成定增，共募资金额80.9亿港元。2025年至今，共有8家企业完成定增，目前数量领先去年同期60%，金额总数上领先去年同期242.8%。4月10日，基石药业-B完成配售合共8000万股，配售价为每股2.933港元，筹资总额约为2.35亿港元。配售所得款项净额预期将用于以下用途：(i)90%用于与本集团「管缐2.0」中的资产，尤其是CS5001（一款处于临床阶段的ROR1ADC（潜在同类最佳ROR1ADC）），以及CS2009（一款靶向PD-1、VEGFA及CTLA-4的三特异性分子，潜在同类首创/同类最优的下一代肿瘤免疫骨架）有关的进一步研发；及(ii)余下所得款项净额于适当时用于其他一般公司用途。4月8日，和铂医药-B公告完成认购事项。合共7627.18万股认购股份已成功配发及发行予Astra Zeneca Holdings，认购价为每股1.38美元(相当于每股约10.74港元)，较股份认购协议日期前最后5个连续交易日(不包括该日)于联交所所报每股平均收市价约8.44港元溢价约27.3%。所得总额1.05亿美元(约8.19亿港元)，将用作研发、营运及一般营运资金需求。完成后，Astra Zeneca将持有公司股本9.15%。香港股市医疗健康板块IPO动态港股医疗板块拟上市企业No.2沪深资本市场沪深股市总体股市概览受海外关税冲击影响，周一A股迎来调整，上证指数收跌7.34%。临近收盘之时，中央汇金发布公告称已再次增持了交易型开放式指数基金（ETF），4月7日和8日两天，ETF产品合计净流入资金超过1900亿元。截至周五，A股连续4日反弹，本周上证指数跌3.11%，深成指跌5.13%，创业板指跌6.73%。截至目前，2024年上证综指下跌3.4%，沪深300下跌4.7%。4月9日，针对美国继续加征关税，中国宣布多项反制措施，包括将对原产于美国的进口商品加征关税税率从34%提高至84%。4月9日，特朗普决定再次加码，继续对中国产品加税到125%，并且即日生效。4月12日，国务院关税税则委员会公告称，自4月12日起，对原产于美国的加征关税税率，由84%提高至125%。上周，上证医药下跌4.5%，医药中信指数下跌5.4%。2025年，A股医药板块回暖。上证医药上涨1.8%，领先上证综指5.2个百分点。医药中信指数下跌1.0%，领先沪深300指数3.7个百分点。沪深股市医疗健康板块概览2023年医药中信指数下跌6.77%。继2025年2月回升5.0%后，3月延续涨势，上涨1.3%。上周市值前20个股多数下跌。4月8日，NMPA官网公示恒瑞医药递交艾玛昔替尼的新适应症上市申请已获得批准，本次获批针对的适应症为：用于对局部外用治疗或其他系统性治疗应答不充分或不耐受的成人和12岁及以上青少年中度至重度特应性皮炎患者。艾玛昔替尼是一种高选择性的JAK1抑制剂，对JAK1的选择性是对JAK2的16倍。2024年3月，恒瑞医药宣布在第82届美国皮肤病学会年会（AAD）介绍了艾玛昔替尼治疗中重度特应性皮炎（AD）的3期研究结果。结果显示，16周时，艾玛昔替尼4mg组、8mg组与安慰剂组的IGA应答率分别为36.3％、42.0％、9.0％，表明该药物能有效改善中重度AD的疾病活动度。沪深股市医疗健康板块概览上周，创新药指数下跌7.0%，医疗器械指数下跌6.0%。4月9日，荣昌生物逆势上涨8.7%。消息面上，公司宣布其自主研发的BLyS/APRIL双靶点融合蛋白创新药泰它西普（telitacicept，RC18）用于治疗全身型重症肌无力（gMG）3期研究结果，以“最新突破性研究”口头报告亮相美国神经病学学会（AAN）年会。数据显示，泰它西普治疗24周后，MG-ADL评分较基线降低5.74分，安慰剂组降低0.91分；98.1%的患者重症肌无力日常活动评分（MG-ADL）改善≥3分，87%的患者定量重症肌无力评分（QMG）改善≥5分，具有显著的临床意义。沪深股市医疗健康板块新股发行2024年，共4家企业申报IPO。总体数量同比减少71.4%。共募集资金2.47亿元人民币，总体金额同比减少87.7%。上周无新增IPO。2024年，有7家企业发行定增，总体数量同比减少65%。累计定增金额4.95亿元人民币，总体金额同比减少67.6%。上周无新增定增。沪深股市医疗健康板块IPO动态沪深股市医疗板块IPO排队企业情况No.3NASDAQ美国股市总体股市概览美国“对等关税”政策冲击引发全球股市巨震，周三的“对等关税”暂停令引发美股历史性反弹，周四，随着“关税暂停令”的安抚作用消退，美股重回跌势。上周美股三大指数大幅收涨跌，道琼斯工业指数累涨4.95%，标普500指数累涨5.7%，纳斯达克指数累涨7.29%。2025年截至目前，纳指累计下跌13.4%。上周纳斯达克生物技术指数 (NBI）落后于大盘的猛涨之势，微涨0.1%。4月10日，诺华宣布未来5年将在美国投资230亿美元扩建本土制药产能，计划新建7座工厂并保留10个现有生产基地，创造约5000个就业岗位。该投资将覆盖原料药、生物制剂生产及药品包装，确保美国市场关键药物的本土化供应。2024年截至目前，NBI累跌9.3%，跌幅相比纳指缓和4.1个百分点。美国股市医疗健康板块概览2025年开年至今，纳斯达克生物技术指数 (NBI)表现稳定，3月总体震荡6.1%。上周NBI指数速降，指数成分公司股价涨跌互现。2025年4月10日，FDA宣布将逐步终止实施近40年的动物实验（GLP）要求，并启动试点计划，允许部分单抗类药物采用非动物测试策略。此消息导致传统CRO公司查尔斯河股价大跌28.13%，而AI医药概念股（如Certara、Schrodinger）盘后暴涨15%-25%。美国股市医疗健康板块新股发行2024年全年NGS&NGM医疗健康板块累计有30支新股发行，累计募资超55.13亿美金。2025年截至目前，NGS&NGM医疗健康板块共有11支新股发行，累计募资10.276亿美元，相较去年同期数量上落后8.3%，金额下降67.7%。上周Nasdaq无新增IPO。2024年共有322家企业完成定增，累计募集资金约293.8亿美元.2025年截至目前共有92家企业完成定增，总体数量上比去年同期下降32.4%，金额较去年同期下降76.0%。上周共有4起新增定增。其中募资金额最高的是IMMUNITYBIO- Anktiva是其核心产品，也是唯一一款商业化产品，2024年4月22日获得FDA批准上市，联合卡介苗（BCG）用于治疗卡介苗不响应的非肌层浸润性膀胱癌 （NMIBC） 伴原位癌 （CIS），伴或不伴状瘤患者。公司此次以2.58美元每股的价格募集了7500万美元。医疗健康板块IPO动态No.4近期融资事件

Pfizer and Flagship Pioneering have entered into an agreement aimed at discovering potential selective inhibitors for autoimmune diseases. The collaboration between Pfizer and Pioneering Medicines, Flagship’s in-house drug discovery and development unit, will seek to discover compounds “which may lead to the development of next-generation therapeutics” for these disorders. More than 100 known types of autoimmune diseases, including rheumatoid arthritis, type 1 diabetes and multiple sclerosis, affect over 50 million people in the US. They occur when the immune system is unable to distinguish between healthy cells and invading pathogens. Pfizer and Flagship will engage Charles River Laboratories to leverage Logica, an artificial intelligence (AI)-powered platform offering from Flagship-founded Valo Health, to identify advanceable small molecule leads. Logica is designed to translate biological insights into preclinical assets using Valo’s Opal Computational Platform and Charles River’s capabilities in drug discovery and preclinical development, and has just been used to identify a product candidate for different forms of lupus and other autoimmune indications with unmet needs. Paul Biondi, president of Pioneering Medicines and managing partner at Flagship Pioneering, said: “Autoimmune diseases impose a substantial health burden on patients, and ongoing unmet need in the management of these conditions is driving a strong demand for more effective, safer and more personalised treatment options. “Through the power of our unique partnership model with Pfizer, we will leverage Logica to help address this gap with a promising novel approach to identifying disease-modifying candidate molecules that could positively impact the current treatment landscape for these complex and diverse conditions.” The agreement represents the sixth collaboration signed under a broader strategic partnership between Pfizer and Flagship, after the companies announced programmes with Flagship’s ProFound Therapeutics, Quotient Therapeutics, Montai Therapeutics and Ampersand Biomedicines. Pfizer and Flagship announced the original collaboration worth $7bn in 2023, noting that they were aiming to accelerate the development of innovative medicines. As part of the wider agreement, the companies aim to invest in and develop a new pipeline of up to ten programmes for areas including internal medicine, oncology, infectious diseases and immunology, according to the 2023 announcement.

Flagship-founded Valo Health marks the sixth collaboration for the $7 billion biobucks, 10-program collaboration between Pfizer and Flagship.\n Pfizer and Flagship Pioneering are turning to autoimmune disease as the sixth plank of their multibillion-dollar, 10-program partnership.The agreement will see Flagship’s in-house drug developer unit Pioneering Medicines work with Pfizer to “discover compounds which may lead to the development of next-generation therapeutics for autoimmune diseases,” according to an April 1 release.Pioneering Medicine has already been working with Charles River Laboratories and Valo Health’s Logica molecule designing platform. Last week, they announced that this effort had yielded its first drug candidate—a small molecule intended to treat lupus and other as yet unidentified autoimmune diseases.It sounds like Pfizer and Flagship want to jump on this success, by tapping up the major contract research player that is Charles River and AI drug developer Valo Health, founded by Flagship back in 2019, to find more autoimmune candidates.“Autoimmune diseases impose a substantial health burden on patients, and ongoing unmet need in the management of these conditions is driving a strong demand for more effective, safer and more personalized treatment options,” Paul Biondi, President of Pioneering Medicines, and a Managing Partner at Flagship Pioneering, said in this morning’s release.“Through the power of our unique partnership model with Pfizer, we will leverage Logica to help address this gap with a promising novel approach to identifying disease-modifying candidate molecules that could positively impact the current treatment landscape for these complex and diverse conditions,” Biondi added. Valo Health now marks the sixth collaboration for the $7 billion biobucks, 10-program collaboration between Pfizer and Flagship that was first announced in 2023. The general purpose of the programs covered by the wide-ranging partnership is to address unmet needs within Pfizer’s core strategic areas of interest. The Big Pharma can pluck partnerships from Flagship’s ecosystem that currently spans 40 companies.Pfizer and Flagship picked obesity as the first target, perhaps not surprising given the major industry interest in the area, with the New York pharma giant working with Flagship’s ProFound Therapeutics to find new proteins and determine whether they can be used for new obesity therapeutics. They followed this up with a deal to use Quotient’s somatic genomics platform to discover new targets for two programs in cardiovascular and renal diseases, then obesity and lung cancer work with Ampersand and Montai, respectively.Autoimmune diseases have also long proved major money spinners for pharma, with drugs on the market for conditions such as Crohn\'s, ulcerative colitis, arthritis and multiple sclerosis, to name but a few, making megablockbuster sales over the years. “We are excited to bring the power of the Logica platform— powered by Valo and Charles River—to discover potential investigational therapies for patients suffering from autoimmune diseases,” Charles River’s Chief Scientific Officer Julie Frearson, Ph.D., said in this morning\'s release.“Logica\'s proprietary AI small molecule drug discovery platform is revolutionizing the drug discovery process, and we look forward to working with the joint team at Pioneering Medicines and Pfizer to accelerate understanding of the molecular pathways involved in these diseases to develop more targeted and effective therapies for patients,” Frearson added.No financial details of the latest collaboration were released.