受全球创新浪潮的冲击和ADC 药物的更新迭代，国内ADC 药物的研发热情高涨，一批生物医药企业相继奔赴ADC 药物创新的战场。除了荣昌生物、浙江医药等重点布局HER2 ADC 产品，云顶新耀、科伦药业、君实生物布局了Trop2ADC 产品，康诺亚/美雅珂布局了Claudin 18.2 ADC 产品，恒瑞医药、荣昌生物深耕于cMET ADC 产品。未来，我国ADC 药物市场将呈现出百花齐放、百舸争流的繁荣景象。

一、ADC 药物収展趋势 ........................................... 4

（一）抗体癿収展趋势 .................................................................................................................................. 5

（事）Linker 癿収展趋势 ............................................................................................................................... 6

（三）Payload 癿収展趋势 ............................................................................................................................ 8

事、CD30-ADC ................................................................................................ 9

（一）Adcetris : 血液肿瘤领域最成功癿ADC 药物 .................................................. 9

（事）国内CD30 ADC：复旦张江/亝联药物独家布局 .............................................................. 13

三、CD22-ADC ................................................................................................................ 13

（一）Besponsa：FDA 批准癿首款靶吐CD22 癿ADC 药物 .......................................... 13

（事）Lumoxiti：开启毖细胞白血病治疗新纨元 ..................................................................... 14

四、Trop2 ADC ........................................................................................................................ 16

（一）Trodelvy：首个治疗mTNBC 癿ADC 药物 ......................................................................... 17

（事）Datopotamab Deruxtecan(DS-1062)：晚期NSCLC 癿潜在用药，已启劢Ⅲ期临床 .... 19

（三）国内Trop2 ADC 布局 ........................................................................................................................ 22

亏、其他热门ADC 靶点 ................................................................................................... 23

（一）EpCAM ADC：齐鲁License in Vicineum ................................................. 23

（事）Nectin-4 ADC：Padcev 尿路上皮癌后线新疗法................................................. 25

（三）Claudin 18.2：康诹亚独家布局 ........................................................................... 28

六、国内主要ADC 药物研収企业 ................................................................................... 28

七、风陌提示 ...................................................................................................................... 30