【编者按】相比其他年份，2018年新药获批速度几乎历年最短。与此同时，科创板也频频向生物医药企业“招手”，创新药投资已经进入历史最好阶段。根据报告，2013-2018年上半年，创新药领域累计披露投资金额达486亿元，投资事件297起，参投机构646家。“黄金时代”里谁将笑到最后？
wuyongzhiyi，chuangxinyaozhengyinglai“huangjinshidai”。
guojiayaojianjutoulu，2018nianzhongguopizhun48gequanxinyaopinshangshi。xiangbiqitanianfen，2018nianxinyaohuopisudujihulinianzuiduan。
yucitongshi，kechuangbanyepinpinxiangshengwuyiyaoqiye“zhaoshou”。genju3yue3rifabude《shanghaizhengquanjiaoyisuokechuangbanqiyeshangshituijianzhiyin》，shengwuyiyaokejichuangxinqiyejiangchengweituijianzhongdian。shangweiyinglideshengwuyiyaoqiyekeyifukechuangbanipo。
shishishang，vc/petouzichuangxinyaodereqingyizhibudi。laiziqingkeyanjiuzhongxindeshujuxianshi，2013-2018nianshangbannian，chuangxinyaolingyuleijipilutouzijineda486yiyuan，touzishijian297qi，cantoujigou646jia，qizhongbeihoushejivc/peda578jia，zhanzongjigoude90%。
yiweizhuanzhuyiliaojiankangduoniandevcjigouhehuorengantan，“chuangxinyaotouziyijingjinrulishizuihaojieduan”。
congjinjinianguoneiyiyaofazhanqingkuangkan，fangzhiyaode“huangjinshidai”yijingyiqubufufan，guoneichuangxinyaodeshichangxuqiuriyiwangsheng，zaijiashangguojiazhengceyindao，yuelaiyueduodehaiwaishengwuyiyaogaoduanrencaihuiliu，bentuchuangxinyaoqiyezaixinyaoyanfashangjinbuxunsu。
zhongguoxianxingguizhangzhiduzhong，meiyoujichuduichuangxinyaodemingquedingyi。qingkeyanjiuzhongxinjinrifabude《2018zhongguochuangxinyaochanyetouziyanjiubaogao》zhong，jiangchuangxinyaojiedingwei，zaiquanqiufanweinei，congweichuxianguodejuyouzizhuzhishichanquan、juyouxindeyaolizuoyonghuozhiliaoyongtu，qieyoulinchuangjiazhideyaopin。
chuangxinyaokefenweihuaxueyao、shengwuyao、zhongyaosanlei，qizhongshengwuyaoliaoxiaohao、jianxiaokuai，zaijiashangzhengceyuzibendepianhao，yichengweijinnianlaifazhanzuikuaidelingyu。
shengwuyaoyouxifenweiduogezilingyu，baokuodankang、zhongzudanbaideng，qizhongzhiliaozhongliujizishenmianyijibingweizhudedankangyaowu，jihuzhanjuleshengwuyaodebanbijiangshan，tebieshiyongyuzhiliaoduozhongzhongliudepd-1/pd-l1dankangyichengweixinyaoyanfadetupodian，yeshivc/pejigouzhuizhudejiaodian。
genjubaogao，2013-2018nianshangbannian，chuangxinyaolingyuleijipilutouzijineda486yiyuan，touzishijian297qi，cantoujigou646jia。
jin2018nianshangbannian，pilujinegaoda172yiyuan，pilutouzishijian59qi，chaoguo2017nianquanniandetouzie，chengweiqunianzibenredian、mingxingbankuai。
congrongziluncifenbukan，2013-2018h1，chuangxinyaoqiderongzizhuyaoyia、blunweizhu，shuliangzhanbichaoguo50%，jigougengduotouzichuyukuozhangqihechengshuqidechuangxinyaoqiye。
congjigouleixinglaikan，zhuyaoyichuangyexinghechengzhangxingzibenweizhu，vchepedeshulianghejizhanzongjigoude90%，qizhongvczuiduo，gong334jia；qicishipejigou，you244jia。zaichuangxinyaotouzishichangshang，zhongxinchanyejijin、huakongjijin、gaolingziben、yuanhekonggu、hongshanzhongguo、yunfengjijin、jianxinzibendengdoushichuangxinyaolingyubijiaohuoyuedetouzijigou。
huigu2018nianshengwuyiyaoxingyefazhan，touzijiefaxian，2018nianshangbannianshichangbijiaore，xiabannianshichangjiukaishiwangxiaxing，suoyixiangdangyuyigedaovxingjiegou。
muqianshengwuyiyaoxingyedetouzizonglianghaishibugouduo，chuangxinyaohechuangxinqiyedetouzihaishizaiqibujieduan。bingqiejinliangnianxingyejichuxiaoyingmingxian：huoderongzideyouzhiqiyeshuliangjianshao，erdanxiangmurongzieduzaizengjia。
2019nian，kechuangbanwuyishizhongtoudaxi，ershengwuyiyaochenglezheiyixinbandexiangbobo。
genju3yue3rifabude《shanghaizhengquanjiaoyisuokechuangbanqiyeshangshituijianzhiyin》，shengwuyiyaokejichuangxinqiyejiangchengweituijianzhongdian，zhuyaobaokuoshengwuzhipin、gaoduanhuaxueyao、gaoduanyiliaoshebeiyuqixiejixiangguanjishufuwudeng。
chuangxinxinggongsi、touxing、vc/pedengjigouwenfengerdong。zuijinwunianlai，shengwuyiyaoyizhishichuangtouxingyezhongdianguanzhudelingyu，kechuangbanjizhucezhigaigefanganjiangtuidongtouzixingyeduizheiyilingyudeguanzhu，touziyehuituidongchuangyezhecanyudereqing。
zaigangjiaosuokailvdengzhiqian，nasidakeyizhishishangweiyinglishengwukejigongsixinzhongdeipodiantang。muqianzainasidakeshangshigongsi2643jia，yiyaoxiangguan737jia，shuyuzhulibankuai。
dangangjiaosuoyizhiwenjianqueqiangzoulenasidakebanbianfengtou。zi2018nian4yuedi，gangjiaosuoxuanbujieshoushangweiyinglishengwukejigongsiyuzhubanshangshideshenqingkaishi，yiyougelizhiyao、baijishenzhou、xindashengwu、hualingyiyao、yashengyiyao、mengkeyiyao、fuhonghanlin、kangxinuo、junshishengwu、maiboyaoye、jishiyaoye、aobiome therapeutics、stealth biotherapeuticsdengduojiashengwukejigongsifugangshangshi。
ganggudehuobaotongyangcijileagu，yejiasuleshangjiaosuokechuangbanbingshidianzhucezhiluodi。
dangzhengce、shichang、zibendoushifangchulejijikanhaodexinhaoshi，kegongshengwuyiyaoqiyexuanzedeluyeduoleqilai。zaiyigenyouyigenganlanzhimianqian，niipodeyaoqishichengweifugangdajundeyiyuan，haishipinchangkechuangban“toudantang”，yihuoshibenfuyaoyuandenasidake？
“womenzaishenzhentoudeyijiachuangxinyaoqiyeweixinshengwu，yileixinyaoxidabenanzai2015nianjiushangshile，houlaijinleguojiajibenyiliaobaoxianmulu，feichangfuhekechuangbanipotiaojian，shenbaojieguohenkuaijiuhuichulai。”weixinshengwubeihouzifangjianxinziben、zhaoyinguojiduitouzijietoulu，zheijiagongsiyouwangjishendiyipi。
huagaizibenyiliaojijinzhuguanhehuorencengzhiqiangyeduitouzijietoulu，huagaitouguodeshengwuyiyaoqiyebaokuofuhonghanlin、haiheshengwu、deqiyiyaodengmuqiandoufuhezaikechuangbanshangshidejibentiaojian，“womengentoububaojianjigoudengyijingjiuxiangmujinxinglehezuo，zhengquzaiqianjipijiuyoujigehuagaitouzideqiyedenglukechuangban。”
dangran，jijizhiyu，haiyoutouzirenchiguanwangtaidu。“dangnianzaixinsanbanrongzidehenduoqiyeyiranmianlinjiongjing。touzizhemenjiangao，quefaliudongxing，dingweibuqingxi，rujindekechuangbanyehuiyudaoleisitiaozhan。”yiweibuyuanjumingdetouzirenduitouzijiezhiyan。
2yue18ri，《yuegangaodawanqufazhanguihuagangyao》zhengshichulu，zuoweijinnianlaidehuoreci，shengwuyiyaobeixiejinguihua，chengweizhongdianpeiyuchanyezhiyi，bingtidaoyaozaidanbaileidengshengwuyiyao、jiyinjiancedengzhongdianlingyupeiyuyipizhongdachanyexiangmu。
dawanquyouhenhaodefuchizhengce，guangdongdeqiyejiayouchuangjing，chuangyezheyeyuelaiyueduoluohudaozheili，chanyelianwanshandeshitouzhengzaixingcheng。“shuishen、yuduo”，yuanquanhongzheiyangxingrongrujindedawanqu。
muqianjianxinzibenyizaidawanqubujuhengnuokang、weixinshengwu、kangfangshengwu、jizhunyiliaosijiaqiye。yuanquanhongtidao，jishimeiyoudawanquchengshiqunfazhanguihua，jianxinzibenyehuibazheiyiquyuzuoweishengwuyiyaotouzidezhongdianquyu，“shishizhengmingwomenzaizheigedifangzongnengzhaodaohaodeqiyejia、kexuejia，zongshiyouhaodezhongzi，neijiushuomingzheigedifanghao。”
danyeyingkandaodawanqufazhanzhongdebuzu——yushanghai、jiangzhexiangbi，guangdongdiquyizhizaoyeweizhu。jinguanxianzaiqushizaigaibian，tourudeliduzaijiaqiang，danyuzhangsanjiaoxiangbi，chanyelianhaibugouwanshan。
“birulinchuangshiyandegongsi，linchuangqianwaibaofuwudegongsi，kuaguogongsizaizhongguodeyanfazhongxin，xiangzheixiezaiyuegangaodiququeshishiyigeduanban。”yuanquanhongshuo。eryishanghaiweili，qiangsheng、nuohuaheasilikangdengkuaguoyiyaoqiyejunzaishanghaisheliyouyanfazhongxin，tongshihaiyouyaomingkangdedengcroqiye。
zhaoyinguojiyizaidawanquwanchengduiranshiyixueheweixinshengwudetouzi。ranshiyixuezaizhongliujiyincexulingyubijiaochuse，erweixinshengwuyijingzaichoubeishoupikechuangbanshangshi。
idgzibenzai20duoniandeshijianlixiangguangdongshengtouzilejin200yi，fugailebaokuoshengwuyiyao、tmtzaineidesuoyouxingye，qizhongdagai50yizijinluoyuguangzhoushi。muqian，idgzibenzhengzaichangshijiaqiangdawanqubuju，jiashenyuguangzhoushizhengfudehezuo，jiangzhongxinzhubuyidaohuananhuozhedawanqu，zuoweitouzizhongxin。idgzibenhehuorenzhangjianbinrenwei，dawanqushiyigelishixingdejiyu，duiyuzhongguo，youqishihuanandiqu，shifeichanghaodetouzihechuangyejiyu。
gaotejiatouzijituanyizaiyuegangaodiqutouzilebushaoqiye，baokuomairuiyiliao、kangfangshengwu、huayinjiankangdeng。juzhongshanhuojukaifaquguanweihuixiaoxi，2018nianyilai，zhongshanguojiajiankangjidiyou18gexiangmudachenghezuo，baokuosaimofeishierkeji、kangfangkangtixinyaochanyehuajidi、xunuoyaoyedeng，zongtouziechao30yiyuan。
gaotejiatouzizhixinghehuorentengyuhangrenwei，dawanquguoqudeyiyaoxingyezuchenggengduodeshifazhanbijiaochengshudeqiye，bingqiejizhongzaixiangduichuantongdezhongyao、zhongchengyaohuozheyuanliaoyaodexingye。chuangxinyaofangmian，jinguanliduda、chengzhangsudukuai，danshiguimo、tilianghaichuyuqibujieduan。yuzhongduotouzirenpanduanbutong，tengyuhangbiaoshi，“guoqushengwuyiyaolingyudepaomo，xianzairengrancunzai，dangqianchuzaihuiguilixingdeguochengzhong，guoqukuaisumangmushaoqiandemoshizaiweilaihuibuduangaibian。”
zuoweiyijiazonghexingtouzijigou，shenchuangtouyezaishengwuyiyaoxingyepinfanluozi，bingyu2018nianchenglizhuanmendeshengwuyiyaojijin，yizaidawanqutouziweixinshengwu、mairui、zhongshankangfang。shenchuangtouzhixingzongjinglicaoxuguangtanyan，zhenzhenghaodeqiye，zaidawanqushibuchourongzide。
guoqusannian，yiyaoxingyeyechengweiyunfengjijindetouzizhongdian。zuijin12geyuenei，yunfengjijintouzijinezuidadebushiit、jinrong、tmt，ershiyiyao。
yunfengjijinyiliaojiankanglingyudongshizongjinglisunxuantanyan，dawanquyiyaochuangxinqiyezailishishangyouyidingyoushi，danshizaijishufangmianlizhangsanjiaoyidaihaiyoujuli，zheishiyigejiyuyeshitiaozhan。ercongtouzidejiaodulaishuo，dawanquzhengshitamenyaozhaode“xiayibolangchao”。
“yiyaochuangxinchanyeshalong”jiabinqueren！benzhouwu，tamenzaiguangzhoudengni
lianxiangzhihuiyiliaohuoshuyiyuanzhanlvetouzi，chengweipinganjituanqixiakongguzigongsi
yangshi315：yaodianzizhizhengshuqinengruciguakao？
xindashengwufabushoufennianbao，2018niandukuisun14.82yiyuan
shoujiayiyaogongsibiaotaifukechuangbanshangshi，fudanzhangjiangjihuamuzi6.5yiyuan
kangenbei9000wanyuanzaitougongyedama，shougoubingzengziyunxinggongsi
leijitouru1.27yiyuan，shanghaiyiyaoliangxiangyaowulinchuangshiyanwunai“zheji”
suizhe《“jiankangzhongguo2030”guihuagangyao》defabuheyigaizhengcezongshenfazhan，woguoyiliaofuwuxingyeyezhengyinglaiyigexindeshengjijieduan，jishicong“guimo”xiang“jiazhi”debiange。yiliaochanyeyuxinjishuzhujianronghe，danchun“zouliang”deyiliaoxiangmubuzaishitouzishouxuan，daliang“weixuqiu”jiangzaixiaofeizhe“yongjiaotoupiao”xiachuju……ruhenenggouzhuanweiweian，jielidali，zuizhongzaizibenhandonghoude2019tuoyingerchu？
2019nian7yue25ri-27ri，yioudajiankangjiangzhuban“giis 2019disijiezhongguodajiankangchanyeshengjifenghui”，fenghuiyi“yanqijiantan——cong【guimo】dao【jiazhi】deyiliaobiange”weizhuti，weiraoyiliaodashuju、yiyaochuangxin、feigongyiliaohekejiyiliaosidaxifenlingyudeshichanghuanjing、touziredianhechanyebiangedenghuatizhankaitantao。yucitongshi，yioudajiankangjianghuizai3yue-4yueluxujuban：yiyaochuangxinchanyeshalong（3yue22ri）、yiliaodashujuchanyeshalong（3yue29ri）、feigongyiliaochanyeshalong（4yue26ri）、kejiyiliaochanyeshalong（4yue19ri）。huanyingdajiaguanzhu！
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