Morgan Stanley – GenScript Biotech (1548.HK): GenScript Partners with Tamarind Bio
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Key Views
- Tamarind's no-code platform integrates 300+ models, including AlphaFold, RFdiffusion, and MPNN.
- GenScript has served more than 100 AI drug companies and expressed over 50,000 AI-designed proteins, having made AI drug R&D a key driver since late 2025.
- The partnership is expected to channel more molecules into GenScript's life science business, which guides for 15-18% revenue growth in 2026.
- Valuation is sum-of-the-parts: 2026e 20x P/E for CRO, 2026e P/S for CDMO and industrial synthesis, and DCF for cell therapy.
Outlook
The rating and target price apply over a 12-18 month horizon.
Recommended Securities
- GenScript Biotech (1548.HK): Overweight; target price HK$15.90.