{"schema_version":"1.0","type":"article","title":"台灣ADC公司全景：浩鼎跑最遠，相似藥先上市","url":"https://drugnews.com.tw/articles/2026-10-30-taiwan-adc-companies-landscape-obi-tsy110.html","markdown_url":"https://drugnews.com.tw/articles/2026-10-30-taiwan-adc-companies-landscape-obi-tsy110.md","lang":"zh-Hant","date":"2026-10-30","publish_at":"2026-10-30T08:00:00+08:00","updated_at":"2026-10-30","category":"商業分析系列","topic":"公司研究","tags":["台灣 ADC 公司","抗體藥物複合體","浩鼎 OBI-992","台新藥 TSY-110","醣聯 GNX1021"],"summary":"BioNTech 剛承認自家 HER2 ADC 效益有限，Roche 卻付 4 億美元包下翰森的 ADC 平台。台灣 7 家 ADC 公司走到哪？新藥跑最遠的是浩鼎，最快上市的會是台新藥與台康的 Kadcyla 相似藥。","key_points":["台新藥（6838）與台康（6589）合作的 Kadcyla 相似藥 TSY-110 會是第一個走進樞紐臨床的台灣 ADC：台新藥 2026 年 8 月 28 日已向歐盟遞交臨床試驗申請，本文判斷 2027 年 6 月 30 日前宣布歐洲首位受試者用藥。","台灣自有 ADC 新藥跑最遠的是浩鼎（4174）的 TROP2 ADC OBI-992：2024 年 6 月在美台 8 個試驗點開始一／二期，預計 117 人，已找到二期建議劑量並停止收案，2025 年 12 月報告三位病人腫瘤部分縮小。","台灣 ADC 分三條路：浩鼎、醣聯（4168，GNX1021 於 2026 年 8 月 3 日日本首位收案）、嘉正做新藥；台新藥做相似藥；台耀（4746）、永昕（4726）、台康做代工。國際買方則付錢給平台，Roche 2026 年 10 月 19 日付翰森 4 億美元簽約金。"],"facts":[{"claim":"BioNTech 與映恩生物 2023 年 ADC 授權交易潛在總額（上看）","value":16,"unit":"億美元","as_of":"2026-10-26","source":"https://www.biopharmadive.com/news/biontech-dualitybio-modest-results-adc-breast-cancer/839574/"},{"claim":"Roche 2026 年 10 月與翰森 ADC 合作簽約金","value":4,"unit":"億美元","as_of":"2026-10-19","source":"https://www.pharmexec.com/view/hansoh-pharma-15-billion-collaboration-license-agreement-roche"},{"claim":"Roche 付翰森的一週年款","value":1.1,"unit":"億美元","as_of":"2026-10-19","source":"https://www.pharmexec.com/view/hansoh-pharma-15-billion-collaboration-license-agreement-roche"},{"claim":"Roche–翰森 ADC 合作潛在里程碑金額（逾）","value":150,"unit":"億美元","as_of":"2026-10-19","source":"https://www.pharmexec.com/view/hansoh-pharma-15-billion-collaboration-license-agreement-roche"},{"claim":"浩鼎 OBI-992 一／二期試驗（NCT06480240）預計收案人數","value":117,"unit":"人","as_of":"2024-06-12","source":"https://clinicaltrials.gov/study/NCT06480240"},{"claim":"OBI-992 試驗點數（美國 6、台灣 2）","value":8,"unit":"個","as_of":"2024-06-12","source":"https://clinicaltrials.gov/study/NCT06480240"},{"claim":"OBI-992 一／二期試驗開始收案日期","value":"2024-06-12","unit":"日期","as_of":"2024-06-12","source":"https://clinicaltrials.gov/study/NCT06480240"},{"claim":"浩鼎 GlycOBI 平台可接合的藥物抗體比（DAR）","value":"2–16","unit":"顆","as_of":"2026-10-27","source":"https://www.obipharma.com/what-we-do/pipeline-overview/"},{"claim":"浩鼎法說報告 OBI-992 腫瘤部分縮小病人數","value":3,"unit":"人","as_of":"2025-12-18","source":"https://www.ctee.com.tw/news/20251218701436-430504"},{"claim":"浩鼎 2025 年第三季個體營收季增率（ADC 技術合作帶動）","value":289,"unit":"%","as_of":"2025-12-18","source":"https://www.ctee.com.tw/news/20251218701436-430504"},{"claim":"浩鼎授權 TegMine 醣蛋白 ADC 全球權利的董事會通過日期","value":"2025-12-19","unit":"日期","as_of":"2025-12-19","source":"https://wantrich.chinatimes.com/news/20251219900409-420101"},{"claim":"醣聯 GNX1021 日本完成首位受試者收案公告日","value":"2026-08-03","unit":"日期","as_of":"2026-08-03","source":"https://www.ctee.com.tw/news/20260803700603-430504"},{"claim":"嘉正生技 2023 年取得生技中心 ADC 技術授權金","value":6.9,"unit":"億新台幣","as_of":"2023-03-13","source":"https://www.mirrormedia.mg/story/20230313ind006"},{"claim":"嘉正與吉晟生技簽署 ARC 合作備忘錄日期","value":"2026-01-19","unit":"日期","as_of":"2026-01-19","source":"https://technews.tw/2026/01/19/arc/"},{"claim":"台新藥 TSY-110 向歐盟遞交臨床試驗申請公告日","value":"2026-08-28","unit":"日期","as_of":"2026-08-28","source":"https://www.biopharminternational.com/view/formosa-pharmaceuticals-eu-trastuzumab-emtansine-biosimilar-tsy-110"},{"claim":"Roche Kadcyla 2025 年全球銷售（約）","value":25,"unit":"億美元","as_of":"2026-09-03","source":"https://www.biopharminternational.com/view/formosa-pharmaceuticals-eu-trastuzumab-emtansine-biosimilar-tsy-110"},{"claim":"台康 trastuzumab 相似藥 EG12014 台灣核准","value":"2023-06","unit":"年月","as_of":"2026-09-03","source":"https://www.biopharminternational.com/view/formosa-pharmaceuticals-eu-trastuzumab-emtansine-biosimilar-tsy-110"},{"claim":"GlobalData 預估 Kadcyla 加 Enhertu 2031 年全球市場","value":133,"unit":"億美元","as_of":"2026-10-27","source":"https://www.formosapharma.com/tsy-0110/"},{"claim":"台康總產能","value":29.6,"unit":"kL","as_of":"2026-10-21","source":"https://geneonline.news/cphi-milan-2026-eirgenix-event-034-oct-2026/"},{"claim":"永昕自有 MMA 連接子支援的藥物抗體比（DAR）","value":"4–8","unit":"顆","as_of":"2026-08-21","source":"https://geneonline.news/mycenax-emerging-biologics-summit-asia-adc-034/"}],"sections":["01｜ADC 的錢，只付給別人做不出來的東西","02｜同一把尺：台灣 7 家 ADC 公司走到哪","03｜浩鼎跑最遠：兩顆 TROP2 進人體，平台先收錢","04｜醣聯與嘉正：押別人還沒挖的標靶","05｜台灣最快上市的 ADC，是一顆相似藥","台股連結","參考資料"],"references":[{"title":"BioNTech, DualityBio say ADC had 'modest' benefit in breast cancer study","source":"BioPharma Dive","date":"2026-10-26","url":"https://www.biopharmadive.com/news/biontech-dualitybio-modest-results-adc-breast-cancer/839574/"},{"title":"Hansoh Pharma enters $15 billion collaboration and license agreement with Roche","source":"Pharmaceutical Executive","date":"2026-10-19","url":"https://www.pharmexec.com/view/hansoh-pharma-15-billion-collaboration-license-agreement-roche"},{"title":"A Phase 1/2 Study of OBI-992 in Subjects With Advanced Solid Tumors（NCT06480240","source":"ClinicalTrials.gov","date":"2024-06-12","url":"https://clinicaltrials.gov/study/NCT06480240"},{"title":"研發產品線","source":"台灣浩鼎","date":"2026-10-27","url":"https://www.obipharma.com/what-we-do/pipeline-overview/"},{"title":"浩鼎法說：ADC 平台商業化、OBI-992 三位病人部分緩解","source":"工商時報","date":"2025-12-18","url":"https://www.ctee.com.tw/news/20251218701436-430504"},{"title":"浩鼎與 TegMine 簽訂醣蛋白單抗 ADC 商業授權合約","source":"旺得富理財網","date":"2025-12-19","url":"https://wantrich.chinatimes.com/news/20251219900409-420101"},{"title":"Merck's sac-TMT posts major PFS benefit in PD-L1-negative NSCLC","source":"Fierce Pharma","date":"2026-10-25","url":"https://www.fiercepharma.com/pharma/merck-kelun-workhorse-adc-posts-major-tumor-progression-benefit-pd-l1-negative-nsclc"},{"title":"醣聯GNX1021日本完成首位收案 正式邁入人體臨床","source":"工商時報","date":"2026-08-03","url":"https://www.ctee.com.tw/news/20260803700603-430504"},{"title":"吉晟生與嘉正策略聯盟 首創抗體放射複合體","source":"科技新報","date":"2026-01-19","url":"https://technews.tw/2026/01/19/arc/"},{"title":"生技中心「嫁女兒」 嘉正取得 ADC 技術授權 6.9 億元","source":"鏡週刊","date":"2023-03-13","url":"https://www.mirrormedia.mg/story/20230313ind006"},{"title":"Formosa Pharmaceuticals files EU application for trastuzumab emtansine biosimilar TSY-110","source":"BioPharm International","date":"2026-09-03","url":"https://www.biopharminternational.com/view/formosa-pharmaceuticals-eu-trastuzumab-emtansine-biosimilar-tsy-110"},{"title":"Kadcyla Biosimilar","source":"TSY-0110","date":"2026-10-27","url":"https://www.formosapharma.com/tsy-0110/"},{"title":"CPHI Milan 2026：台康展現雙引擎 CDMO 量能與全球佈局","source":"GeneOnline","date":"2026-10-21","url":"https://geneonline.news/cphi-milan-2026-eirgenix-event-034-oct-2026/"},{"title":"永昕打造跨國 ADC CDMO 生態系","source":"GeneOnline","date":"2026-08-21","url":"https://geneonline.news/mycenax-emerging-biologics-summit-asia-adc-034/"}],"images":[{"alt":"圖1｜ADC 怎麼殺癌細胞，台灣三家各改哪一段","url":"https://drugnews.com.tw/assets/articles/taiwan-adc-companies-landscape-obi-tsy110/figure-01.png"},{"alt":"圖2｜台灣 7 家 ADC 公司走到哪","url":"https://drugnews.com.tw/assets/articles/taiwan-adc-companies-landscape-obi-tsy110/figure-02.png"},{"alt":"圖3｜台灣 ADC 的時間線","url":"https://drugnews.com.tw/assets/articles/taiwan-adc-companies-landscape-obi-tsy110/figure-03.png"},{"alt":"圖4｜ADC 的錢有多大","url":"https://drugnews.com.tw/assets/articles/taiwan-adc-companies-landscape-obi-tsy110/figure-04.png"}],"cover_image":"https://drugnews.com.tw/assets/articles/taiwan-adc-companies-landscape-obi-tsy110/cover.png","publisher":{"name":"Drugnews｜藥時事","url":"https://drugnews.com.tw/","profile":"https://drugnews.com.tw/brand-profile.json"},"citation":"Drugnews｜藥時事（2026-10-30）。台灣ADC公司全景：浩鼎跑最遠，相似藥先上市。https://drugnews.com.tw/articles/2026-10-30-taiwan-adc-companies-landscape-obi-tsy110.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":{},"fb_body":"BioNTech 花上看 16 億美元引進的乳癌 ADC，三期過關，公司卻自己說效益「會很有限」。一週前，Roche 付 4 億美元簽約金，包下翰森一批還沒進人體的 ADC。\n\n國際買方只付錢給做得出差異的平台。拿這把尺量台灣，7 家 ADC 公司分三條路：\n\n新藥跑最遠的是浩鼎。OBI-992 在美台一／二期已找到二期劑量，三位病人腫瘤部分縮小；浩鼎也先把 GlycOBI 技術授權給美國 TegMine，平台先收錢。\n\n醣聯 GNX1021 改瞄胃癌的異常醣鏈，8 月日本收第一位受試者；嘉正把彈頭換成放射線。\n\n最快上市的，會是一顆相似藥：台新藥主導、台康供抗體、台耀做接合的 Kadcyla 相似藥 TSY-110，8 月 28 日送歐盟臨床申請。相似藥只要一個樞紐試驗，原廠一年賣 25 億美元。\n\n2027 年 6 月 30 日前，TSY-110 會在歐洲打下第一針，成為第一個走進樞紐臨床的台灣 ADC。\n\n追蹤藥時事，每天拆解一筆全球醫藥大事背後的商業邏輯。","relationship":"independent_editorial","disclosure_url":"https://drugnews.com.tw/policy/"}