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

2?????????

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

4??????????

5???????

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

????“??????????”?????????????,????8??????,??,?/?,????????????????,?????4????CAR-T?????????

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

????????????????????

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

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

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

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

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

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?,????????

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

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

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

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????,?????????????,???????????????????????,???????????????,??????,???50????????,???,??,???????????????????????????

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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?????????,?????“?????????????????,???????????????”(?????? ?????????????????:???????????????????) ?????:???????????