CITIC Securities: Rapid development of In Vivo CART, future development is worthy of attention.

CICC research report pointed out that the development of In Vivo CART is hot, and there have been four cases of mergers and acquisitions by MNCs by 2025. Specifically, In Vivo CART is divided into two technical routes: LNP and lentivirus, and both routes have significant characteristics. In terms of the LNP route, the drug has shown rapid transfection and excellent targeting characteristics in preclinical studies. In the lentivirus route, companies like Esobiotec's BCMA In Vivo CART have shown very good early data in a small group of MM patients. Overall, In Vivo CART is developing rapidly, and its future development is worth paying attention to.