维昇药业-B2025 年度报告

维 昇 药 业 股份代號 : 2561（ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） 2025年度報告 2 4 6 7 28 34 64 89 171 176 177 179 180 182 237 242 20251231 Michael Wolff JENSEN2025627Jan Møller MIKKELSEN20256272025627Michael J. CHANG2025827 97927 YAO Zhengbin (Bing)2025827 International Corporation Services Ltd.Harbour Place2nd FloorPo Box 472103 South Church StreetGrand CaymanKY1-1106Cayman Islands 2025827YAO Zhengbin (Bing)2025827 69B33-108 2025627YAO Zhengbin (Bing)Michael Wolff JENSEN2025627 33191919 15434301-10 International Corporation Services Ltd.Harbour Place2nd FloorPO Box 472103 South Church StreetGrand CaymanKY1-1106Cayman Islands 28833200041 183171712-1716 15153 2561 www.visenpharma.com 維藥業 ®2026126 ® 20272028 「DCD」 III20261 II5252 2026(2228.HK) 維藥業 維藥業 * 201811(lonapegsomatropin)20261(lonapegsomatropin)PGHD183(lonapegsomatropin)(palopegteriparatide)(navepegritide)C (1)2 0 2 612 6®SKYTROFA®(2)20231(palopegteriparatide)320261(3)(navepegritide)220231120244(4) (lonapegsomatropin) (lonapegsomatropin)331 75 2(lonapegsomatropin)52AHV3(lonapegsomatropin)201811AscendisPharma(lonapegsomatropin)(lonapegsomatropin)-1(IGF-1)(lonapegsomatropin) 2024420254 2026126®SKYTROFA®3322kDa≤306 • 2026®SKYTROFA®2026126 2026(lonapegsomatropin)(lonapegsomatropin) 20%80% (lonapegsomatropin)20(lonapegsomatropin)20252430(lonapegsomatropin) GSP202482025619 • (lonapegsomatropin)Ascendis Pharma 202310Ascendis Pharma2025612Ascendis Pharma (lonapegsomatropin)CDMO20237AscendisPharmaAscendisPharma202312CDMO2025122027 DCDDCDDCDDCDBLA2028 2025116 DCD DCDDCDDCD 202536enliGHtenHormoneResearch in PaediatricsDOI:10.1159/000545064(lonapegsomatropin)6 2025728AscendisPharmaFDASKYTROFA®lonapegsomatropin-tcgdTransConhGH 18A.08(3)(lonapegsomatropin) (palopegteriparatide) • (palopegteriparatide)201811AscendisPharma(palopegteriparatide)(palopegteriparatide)24(palopegteriparatide)320231202613 • 2025923(palopegteriparatide)202510 2026132026NDA • 2025512AscendisPharma22144(palopegteriparatide) 2025714AscendisPharmaPaTHway31563(palopegteriparatide) 2025117A s c e n d i sP h a r m a2P a T HForward3PaTHway(palopegteriparatide)3 18A.08(3)(palopegteriparatide) (navepegritide) • (navepegritide)210201811AscendisPharma(navepegritide)(navepegritide)(navepegritide)2 • 2025512(navepegritide)25252 20258241042(navepegritide)52AGV100μgCNP/kg(navepegritide)AGV5.939(P=0.018)4.760100μg/kg(navepegritide)104ACHZ0.051040.199(navepegritide)Ascendis Pharma2 2025122026317維藥業2 2 0 2 569A s c e n d i sP h a r m aC O A C H2 6( n a v e p e g r i t i d e )(lonapegsomatropin) 2025108A s c e n d i sP h a r m a(navepegritide) 20251117Ascendis Pharma(navepegritide)ApproaCH52JAMAPediatrics(navepegritide)ApproaCH(navepegritide)52AGV 202618AscendisPharmaCOACH52(navepegritide)(lonapegsomatropin)252(navepegritide)(lonapegsomatropin)(navepegritide)(lonapegsomatropin) 2026228AscendisPharmaFDAYUVIWEL®(navepegritide)TransCon®CNP2CNP 18A .08(3)(navepegritide) 202625AI(2228.HK)AI 20255252020 202512313537%16 93.5 AscendisPharma60727(lonapegsomatropin)613 (lonapegsomatropin)AscendisPharma(lonapegsomatropin)962037928 (navepegritide)AscendisPharma(navepegritide)16312040210 (palopegteriparatide)AscendisPharma(palopegteriparatide)22252040619 AscendisPharma13102038629 261520203411204510 維藥業130631www.visenpharma.com3 2025123182 20251231 20251231144.42024123198.8 20251231 ••••(TransCon)•• 18A.08(3) 20251231165(palopegteriparatide) 20251231146(palopegteriparatide) 2025123119 202412319.921.1%2025123111.95.020242.9 2025123114.9202412312.4 2024123190.53.03.3%2025123193.5(lonapegsomatropin)2025202467.547.672.2%52.6% 2024123186.433.2%20251231115.1(i)(ii) 2024202512311611,098 2024123117.445.0%202512319.6 2025123131.2 20241231182.239.1%20251231253.4 20241231170.420251231731.1 2024123111.22025123160.754.4CDMO 20241231203.620251231632.6 202412317.820251231247.1(i)(ii) 2024123138.82025123135.7 2024123111.4202512312.5(i)(ii) 20251231170.1(i)(ii) 2025123120251231447.620251231632.620241231203.6 20251231 2025123120251231 20251231 2025123120241231 (1) (1) 202412314.26202512314.47 28 2025123128 28 20251231202512315% 1231 59584360625357 YAO Zhengbin (Bing) 592018117202132720192201910VISENHK202011VISENBVI20216 322010102017919949201092006520109 1989619891019904 58201811120213272025627201811VISENHK20192202011VISEN BVI20216 201310VivoCapital LLC20187SVA2016118752025102021620243GenetronHoldings LimitedGTH2024320182202339969200862013102003620083 1988719917 43202118202132720212VISENBVIVISENHK2021520216 2017720118Vivo Capital LLC201772020128737232021620262688712 2005720077 YAO Zhengbin (Bing)6020214120214YAOVISEN BVI 20216YaoArriventBiopharma,Inc.AVBP20216YaoAlumisIncALMS2017120248YaoNeximmune,Inc.NEXIVielaBio,Inc.VielaVIEHorizonTherapeutics Public Limited CompanyHorizonHZNP2018220213Yao2019120213YaoMedimmuneAstrazenecaAstrazenecaPlcAZNImmuno-OncologyFranchiseTanox,Inc.Genentech Yao1989719946 6220214120214