关键词: font-size:medium, ">细胞与基因治疗；行业发展；国内外；投融资并购；临床项目

Abstract: Objective：To explore the differences in the characteristics， status， mode and development trend of the development of the cell and gene therapy industry China and abroad， and to explore the deficiencies in the development process of the domestic cell and gene therapy industry， as well as the problems to be solved in the future and relevant countermeasures.Methods：According to the transformation logic of financing (including M&A and cooperation)-investment-clinical projects， the vertical data of industry investment and financing and the progress time point data of current clinical projects from 2018 to 2022 were selected as sample data for the trend analysis and structural analysis of the cell and gene therapy industry.Results and Conclusion：There are significant differences?in the development of cell and gene therapy industry China and abroad in terms of scale， growth mode and structure， industry maturity， market logic， technology application， treatment mode and its technical characteristics.The commercial maturity of cell and gene therapy abroad， represented by the United States， has reached a high level， and the industry is in a rapid growth period. Its investment and financing M&A are mainly reflected in the business logic driven by advanced gene therapy innovation technology. A large number of research and development of gene therapy pipelines for rare diseases constitute the pyramid base of the cell and gene therapy industry； In clinical projects， AAV-based viral vector gene therapy in vivo accounts for a high proportion.In contrast， the commercial maturity of cell and gene therapy in China is relatively low， and it is in the early stage of growth on the whole. The overall scale is still small， but the development speed is very fast.Investment and financing M&A are mainly reflected in the market-oriented logic of broad market application and pursuit of hot spots. The impetuosity， blindness and follow-through are relatively prominent， and the production capacity is more important than R&D， and the upstream and downstream investment and financing allocation is obviously deformed； In clinical projects， the distribution of indications is extremely unreasonable， the in vitro cell gene therapy for malignant tumors occupies an absolute share， and the original technology is low， with serious involution.However， in the face of an endless and large number of unmet clinical needs， China′s cell and gene therapy industry will have huge development space in the future. As long as the policy is reasonable and the guidance is effective， the Chinese-style cell and gene therapy industry characterized by advanced gene therapy technology innovation is likely to accelerate the rise of China′s manufacturing industry again.

Key words: font-size:medium, ">Cell and gene therapy； Industry development； China and abroad； Investment and financing M&, A； Clinical project