ADC (Antibody Drug Conjugate) is a new anti-cancer drug which is a combination of a cellular toxicant and an antibody that can track the behavior of a specific cell. ADC (Antibody Drug Conjugate) is a kind of targeted drug which is assembled by connecting the cellular toxicant with the antibody which can track the performance of the specific cell. It consists of three major elements: the antibody (the navigational target), the conjugate (linking/cleaving the antibody and the toxin) and the cellular toxicant (the toxin/chemotherapeutic). It is composed of three major elements, the antibody finds the antigen of the cancer cell, and after entering the cancer cell, it is disassembled by enzymes inside the cancer cell, and the toxin/chemotherapeutic drug is detonated by a bomb, which can selectively and precisely poison the cancer cell, and reduce the systemic toxicity caused by conventional chemotherapeutic drugs, and it is a drug that combines the advantages of the large molecule targeted drug and the small molecule chemotherapeutic drug, so as to realize the precise treatment.

How hot is the market for new ADC drugs? According to DeciBio and Evaluate data, 2023 ADC drug-related M&A deals or cooperation agreements reached more than 70, creating nearly $100 billion in transaction value, including Pfizer (Pfizer) $43 billion acquisition of Seagen and Abbvie (Abbvie) $10.1 billion acquisition of ImmunoGen and other heavyweight deals, the latest international new drug investment and research conference in 2024 continues to be hot ADC new drug topic will continue to attract large pharmaceutical companies to invest in the next five years, and will continue to attract large pharmaceutical companies to invest in. At the latest International New Drug Investment and Research Conference in 2024, the topic of new ADC drugs continues to be hot, and will continue to attract large pharmaceutical companies to invest in the next five years, and will lead international CDMOs, such as Lonza, Samsung BioLogics and Wuxi AppTec, to make technological and capacity deployments, and regard new ADC drugs as a key focus for business expansion. We will focus on new ADC drugs to expand our business.