Megs 视点Megs Viewpoint

The Money Still Moves, Just Not the Way It Used To

2026年11月3日November 3, 2026

AI 系列第一篇。模型差距已经缩到 2.7%，钱的走法也变了：直接投资变薄，公开市场成了跨境资金的主通道。AI Series No. 1. The model gap has narrowed to 2.7 percent, and the money has changed channels: direct investment runs thin, and public markets now carry the cross-border flow.

The IIT Question: What China's Investigator-Initiated Data Can Actually Do at the FDA

2026年10月27日October 27, 2026

中国研究者发起的临床数据到了 FDA 手里到底算多少，答案写在联邦法规 21 CFR 312.120 里。What China's investigator-initiated trial data can actually do at the FDA is written down in 21 CFR 312.120.

The Wakefulness Trade: Orexin Comes of Age Just as GLP-1 Enters Sleep

2026年10月26日October 26, 2026

食欲素药物成年了，GLP-1 又走进睡眠。两个市场，在同一个夜里相遇。Orexin comes of age just as GLP-1 enters sleep. Two markets meet in the same night.

What American Dealmakers Should Understand About China's Early-Stage Drug Assets

2026年10月25日October 25, 2026

美国交易人看中国早期药物资产要先懂的事：数据怎么读，价格怎么定，规则和家里不一样。What American dealmakers should understand about China's early-stage drug assets: how the data read, how prices are set, and how the rules differ from home.