????????????,?????????CAR-T(????????????????T???????????)?????????????“???”???????????????

CAR-T??????,??????:???????,????????????“????????”????????“??,?????????”??????????,????????????????,????????????????

??“????”,????

???? 11 ?????????????????????,???????????,99.9??CAR-T?????,??CAR-T????????????????????????1???????,??????????????????CAR-T??,??,???120?CAR-T????60????????

8??????????,????????????????????,?CAR-T???????????????????????????6????????????CAR-T???????“???”????,????????????????,?????“?????????”?,??????????“???????”??????????“??”????,?????????

??????????,?:?????????“??????????”?????“????????”???????????,?????????????????????????????????????CAR-T?????“??”?,????????

???????????????????????????,???????????????????????“????”????????????????????????????,????????????,CAR-T??????,???????

?????

????????????70%??????????60%???????????,???????“????????”???????41.3%?

???,?????????????,?????????????“???????”????????,??????????????,????????????“???”,?????????????,???????????????

??????????????????CAR-T??,“??????”????????????

??????????????????????????????®(??????)????????,???2021?????????????,????,??????????????,????????????

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?????????????????????,??????????????????,?29?,?????????30??????????????????,???????99.9???????/????????~120???????????/?????CAR-T????,???

??????????4??,????,????????????????????,??,????????,??????????CAR-T?????,?????????CAR-T???

?,CAR-T??,???????????????“?????”,?????????“??????????”?????,?????????CAR-T???????????????????,??????????????

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?????,CAR-T??????????????????,??????????:

??,CAR-T??100???????????,??????“????????”????2023????1.9??(19.4%)?????????????????1.7?????(25.3%),?????????????????,???????????????“?”??????????????????????,??????????????“???????????30???????”??,???“???????????”?

???????????????,?????????????????,?????????,??????????????????????,??????????????????CAR-T??,??????????????,???????????,??????????????????,???????????????????“????????”???????????

???

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??????????????????,????????????????????????????????????????????????????????????????,???????????CAR-T?,?????????

?????????????????1???????,??????“???????”,?????????,????60??

??2024???,?????????,??,??????????????????,???????????????,???

???????????:“?????????????,??,????????”

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?,????

?????“??”???????,??????????????????????????????????????????????,???????????????????????

??????????,????????,??,??????????,?????????????????

“??????????,????????300?????????????,?????????CAR-T????????,CAR-T????????????????????,????????????,?????????????,????‘?????????’?????????????,???,???,?????,???,??????????,???????;????????,?????????????????????????????????????,??,????‘????’?”????????

???“????”?????????????,?????????????????,?????????????

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???????,????????,?????,?????????

????????“??????????????”,?,???????????????????????????????????

????????????????????????????100?????CAR-T???,???????,??,?????????????????????????,???CAR-T??????26????,??????,??4?????,???

?“??”,??????,????,????

“???100?,???CAR-T??????????,??????,???????????????????????,????????????????????????????????,????”????????????????????,???????????????????????????????,??;?????????????????????????;??????????,??,?????????????

CAR-T???????????????

?????CAR-T??,????????????:CAR-T????????????CAR-T???

????????CAR-T?????,????????????,???????????????????????????,???CAR-T??????????????????????????,????????????????????????????????????????????,?????????????????

???????????,??“???”??????,??,???,??“??????????????”????,?????????????????????,??????????????????CAR-T?????????????????????,?????,?????????

????????,CAR-T???????,??????DRG/DIP??,??????“??????????”?????????????????????,??????“???????????,??????,????????????????”??????

????,“??????????”?????????,????????????????“???????”????????????????????,????????????CAR-T???

“??????????????CAR-T???????50%~70%??????????????”????CAR-T?????????????????

??????,????????CAR-T????????????????????????,????????,?????????????????,??CAR-T????4.3?????,???????CAR-T??????

?,????????,CAR-T??????????????????????????,????????,??????????CAR-T?????????????????

?CAR-T????,?????????????PD-1???,CAR-T????,??????,?????????,???,???????,??????????,?????????????????????

??????????????????2024??????3??????????????1?????????CAR-T??????????????????(?????????????????????????)??????????????,???????????????????????? CAR-T????????????????????11 ???,?6?????

????????“2025-2030???????(CGT)?????????????????????”??,?????????,????????CAR-T????????????,2023??20%,?????184?????????????????,??????????????168??????????????????????

???,???????????????????,????CAR-T??“???????????????????”??

?????????????????????,2032??????????????????CAR-T?885.2????????????????,???“????????????????????,?????????”(???? ??????????????:??????????) ????????:???????? ??“??????”????

?? ???????|??,“???????”?????

????:1???????:????????

2?????

3????????????

4?????????????

5???????

????????????,?????????CAR-T(????????????????T???????????)?????????????“???”???????????????

CAR-T??????,??????:???????,????????????“????????”????????“??,?????????”??????????,????????????????,????????????????

??“????”,????

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8??????????,????????????????????,?CAR-T???????????????????????????6????????????CAR-T???????“???”????,????????????????,?????“?????????”?,??????????“???????”??????????“??”????,?????????

??????????,?:?????????“??????????”?????“????????”???????????,?????????????????????????????????????CAR-T?????“??”?,????????

???????????????????????????,???????????????????????“????”????????????????????????????,????????????,CAR-T??????,???????

?????

????????????70%??????????60%???????????,???????“????????”???????41.3%?

???,?????????????,?????????????“???????”????????,??????????????,????????????“???”,?????????????,???????????????

??????????????????CAR-T??,“??????”????????????

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?????????????????????,??????????????????,?29?,?????????30??????????????????,???????99.9???????/????????~120???????????/?????CAR-T????,???

??????????4??,????,????????????????????,??,????????,??????????CAR-T?????,?????????CAR-T???

?,CAR-T??,???????????????“?????”,?????????“??????????”?????,?????????CAR-T???????????????????,??????????????

????,???????????,????

????????????«????»????????,??????????,????“????????”??,????????????“???????????????”????,??????????

?????,CAR-T??????????????????,??????????:

??,CAR-T??100???????????,??????“????????”????2023????1.9??(19.4%)?????????????????1.7?????(25.3%),?????????????????,???????????????“?”??????????????????????,??????????????“???????????30???????”??,???“???????????”?

???????????????,?????????????????,?????????,??????????????????????,??????????????????CAR-T??,??????????????,???????????,??????????????????,???????????????????“????????”???????????

???

????,??CAR-T???????????,?????????????????“???????????????????????????,????????”??????????????,???????????????“??????????????”??????????????????????

??????????????????,????????????????????????????????????????????????????????????????,???????????CAR-T?,?????????

?????????????????1???????,??????“???????”,?????????,????60??

??2024???,?????????,??,??????????????????,???????????????,???

???????????:“?????????????,??,????????”

????????????????????,????,?????,????????????“?????”,????????????,??????,?????,??,???,???????????????????,???????

??,??“1+3+N”???,????????“N”??????,??????????????,???“N”??????????,??????????????

?,????

?????“??”???????,??????????????????????????????????????????????,???????????????????????

??????????,????????,??,??????????,?????????????????

“??????????,????????300?????????????,?????????CAR-T????????,CAR-T????????????????????,????????????,?????????????,????‘?????????’?????????????,???,???,?????,???,??????????,???????;????????,?????????????????????????????????????,??,????‘????’?”????????

???“????”?????????????,?????????????????,?????????????

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??????????,??,???????????????,???????????????????,???????

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???????,????????,?????,?????????

????????“??????????????”,?,???????????????????????????????????

????????????????????????????100?????CAR-T???,???????,??,?????????????????????????,???CAR-T??????26????,??????,??4?????,???

?“??”,??????,????,????

“???100?,???CAR-T??????????,??????,???????????????????????,????????????????????????????????,????”????????????????????,???????????????????????????????,??;?????????????????????????;??????????,??,?????????????

CAR-T???????????????

?????CAR-T??,????????????:CAR-T????????????CAR-T???

????????CAR-T?????,????????????,???????????????????????????,???CAR-T??????????????????????????,????????????????????????????????????????????,?????????????????

???????????,??“???”??????,??,???,??“??????????????”????,?????????????????????,??????????????????CAR-T?????????????????????,?????,?????????

????????,CAR-T???????,??????DRG/DIP??,??????“??????????”?????????????????????,??????“???????????,??????,????????????????”??????

????,“??????????”?????????,????????????????“???????”????????????????????,????????????CAR-T???

“??????????????CAR-T???????50%~70%??????????????”????CAR-T?????????????????

??????,????????CAR-T????????????????????????,????????,?????????????????,??CAR-T????4.3?????,???????CAR-T??????

?,????????,CAR-T??????????????????????????,????????,??????????CAR-T?????????????????

?CAR-T????,?????????????PD-1???,CAR-T????,??????,?????????,???,???????,??????????,?????????????????????

??????????????????2024??????3??????????????1?????????CAR-T??????????????????(?????????????????????????)??????????????,???????????????????????? CAR-T????????????????????11 ???,?6?????

????????“2025-2030???????(CGT)?????????????????????”??,?????????,????????CAR-T????????????,2023??20%,?????184?????????????????,??????????????168??????????????????????

???,???????????????????,????CAR-T??“???????????????????”??

?????????????????????,2032??????????????????CAR-T?885.2????????????????,???“????????????????????,?????????”(???? ??????????????:??????????) ????????:????????