The small molecule drug conjugate (SMDC), an innovative targeted anti-cancer therapy, is ingeniously crafted. It consists of a small molecule targeting ligand, which acts like a homing device; a payload drug, the potent cancer-fighting agent; and a cleavable linker, which serves as a detachable bridge. This sophisticated combination enables the drug to precisely target and be delivered to tumor tissues. As a result, it can effectively wipe out cancer cells while causing minimal harm to normal tissues. In September 2025, Hisun Pharmaceutical made a strategic move by acquiring HSE-001, a potential global first-in-class SMDC drug, from Axcyn Pharma. Fast forward to January 16, 2026, Hisun Pharmaceutical made a significant announcement. The first patient had been successfully enrolled in the Phase IIb clinical trial of HSE-001 at the Affiliated Tumor Hospital of Guangxi Medical University. This event marked a major milestone in the project's development journey.