{"schema_version":"1.0","type":"article","title":"兩家明星 Biotech 的隕落","url":"https://drugnews.com.tw/articles/2026-04-15-biotech.html","markdown_url":"https://drugnews.com.tw/articles/2026-04-15-biotech.md","lang":"zh-Hant","date":"2026-04-15","publish_at":"2026-04-15T10:30:00+08:00","updated_at":"2026-04-15","category":"商業分析系列","topic":"商業分析系列","tags":["商業分析系列","免費文章","GLP-1","BD","臨床數據","生技投資","製藥巨頭"],"summary":"2025 年的生技產業，表面上看起來不像 2022 年那麼驚慌，但真正懂產業的人都知道，市場其實正在經歷一場更深層的重估。","key_points":[],"facts":[],"sections":["2025 年最殘酷的訊號，不是沒技術，而是活不到商業化"],"references":[{"title":"[0]: 各公司官網＆公開資料","source":"","date":"","url":""},{"title":"[1]:","source":"","date":"","url":""},{"title":"The 2025 Biotech Graveyard","source":"","date":"","url":""},{"title":"Biotechs, beware: You're in for a scare.","source":"","date":"","url":""},{"title":"www.fiercebiotech.com","source":"","date":"","url":""},{"title":"[2]:","source":"","date":"","url":""},{"title":"Langer spinout Lyndra begins winding down","source":"","date":"","url":""},{"title":"The wind-down officially began on March 26, with 60 employees set to be laid off when all is said and done.","source":"","date":"","url":""},{"title":"www.fiercebiotech.com","source":"","date":"","url":""},{"title":"![Dcard 原圖：兩家明星 Biotech 的隕落（圖 3）](images/dcard-03.png","source":"","date":"","url":""},{"title":"[3]:","source":"","date":"","url":""},{"title":"www.sec.gov","source":"","date":"","url":""},{"title":"https://www.sec.gov/Archives/edgar/data/1485003/000110465925091064/tm2526076d1_8k.htm","source":"","date":"","url":"https://www.sec.gov/Archives/edgar/data/1485003/000110465925091064/tm2526076d1_8k.htm"},{"title":"www.sec.gov","source":"","date":"","url":""},{"title":"[4]:","source":"","date":"","url":""},{"title":"Neuro biotech Nido closes after 5 years","source":"","date":"","url":""},{"title":"Founded by 5AM Ventures’ 4:59 Initiative, Nido Bio publicly emerged in 2023 with $109 million and support from Big Pharma Eli Lilly.","source":"","date":"","url":""},{"title":"www.fiercebiotech.com","source":"","date":"","url":""},{"title":"[5]:","source":"","date":"","url":""},{"title":"Areteia Therapeutics Announces Positive Topline Results from the First Phase III Study of Oral Dexpramipexole in Eosinophilic Asthma","source":"","date":"","url":""},{"title":"Areteia Therapeutics, Inc. (“Areteia”) today announced positive results from the Phase III EXHALE-4 efficacy and safety study of dexpramipexole as an add-on ...","source":"","date":"","url":""},{"title":"www.businesswire.com","source":"","date":"","url":""},{"title":"![Dcard 原圖：兩家明星 Biotech 的隕落（圖 4）](images/dcard-04.png","source":"","date":"","url":""}],"images":[{"alt":"Dcard 原圖：兩家明星 Biotech 的隕落（圖 1）","url":"https://drugnews.com.tw/assets/articles/biotech/dcard-01.webp"},{"alt":"Dcard 原圖：兩家明星 Biotech 的隕落（圖 2）","url":"https://drugnews.com.tw/assets/articles/biotech/dcard-02.webp"},{"alt":"Dcard 原圖：兩家明星 Biotech 的隕落（圖 3）","url":"https://drugnews.com.tw/assets/articles/biotech/dcard-03.png"},{"alt":"Dcard 原圖：兩家明星 Biotech 的隕落（圖 4）","url":"https://drugnews.com.tw/assets/articles/biotech/dcard-04.png"}],"cover_image":"https://drugnews.com.tw/assets/articles/biotech/dcard-01.webp","publisher":{"name":"Drugnews｜藥時事","url":"https://drugnews.com.tw/","profile":"https://drugnews.com.tw/brand-profile.json"},"citation":"Drugnews｜藥時事（2026-04-15）。兩家明星 Biotech 的隕落。https://drugnews.com.tw/articles/2026-04-15-biotech.html","disclaimer":"本文僅供產業研究與知識分享，不構成投資、醫療、募資或個股建議。","translations":{"en":"2026-04-15-biotech-en.html"},"relationship":"independent_editorial","disclosure_url":"https://drugnews.com.tw/policy/"}