BEIJING, March 26, 2021 /PRNewswire/ -- InnoCare Pharma (HKEX: 09969), a leading biopharmaceutical company focusing on cancer and autoimmune diseases, today announced 2020 annual results which ended on Dec. 31, 2020.
Dr. Jasmine Cui, Co-founder, Chairwoman and CEO of InnoCare, said, "During 2020, an extraordinary year filled with uncertainty, InnoCare has nonetheless achieved significant progress that builds upon the foundation created by the previous five years of rapid development. The commitment and focus of our employees, along with the support of our partners, has allowed us to reach a series of milestones during the year. We successfully listed on the Hong Kong Stock Exchange (HKEX) on March 23, 2020 despite facing the outbreak of the epidemic and its related impact on the US and worldwide stock markets. InnoCare became the first biotech company listed on HKEX in 2020, thus paving the way for the listing of more Chinese biotech companies on this exchange. Our innovative BTK inhibitor, orelabrutinib, was approved for marketing in China on December 25, 2020. This significant regulatory achievement was predicated upon years of advancement in the laboratory and in the clinic. It marks the entry of Innocare into the commercial stage. At the same time, we have set up a strong commercial team to promote orelabrutinib to benefit more Chinese patients. We completed the construction of the first phase of the Guangzhou drug production site in only 16 months. In addition to the approval of orelabrutinib, our drug pipeline has been progressing on a timely basis, achieving a series of milestones in the fields of malignant tumors and autoimmune diseases."
"Looking forward to 2021, we will continue to advance our product pipeline. We will continue to push forward our clinical development and more drug candidates into clinal stage. In the next 18 months, we expect to have six to eight drug candidates approved for clinical trials, which will bring our total number of drug candidates in clinic to over 10. Meanwhile, our commercial team will continue to explore strategic business opportunities so that orelabrutinib can benefit more patients," added Dr. Cui.
Product Highlights and Milestones
Orelabrutinib
ICP-192 (gunagratinib)
ICP-723
InnoCare has a strong pipeline of IND-enabling stage drug candidates, and the Company has been pushing into clinical stage.
Other Corporate Development
"After five years of solid and rapid development, InnoCare has established a balanced product pipeline. At the same time, we have built a sound financial system, which laid a good foundation for our businesses," said Dr. Cui.
Financial Highlights
(Note: Currency: RMB, InnoCare financial year refers to Jan. 1 to Dec. 31 for a certain year.)
To know more about the detailed financial data of InnoCare 2020 full year financial report, please log in https://cn.innocarepharma.com/en/investor-relations/ .
Conference Call Information
InnoCare will host a conference call on March 29, 2021 at 9:00 a.m. Beijing time. Participants must register in advance of the conference call. Details are as follows:
Registration Link: http://apac.directeventreg.com/registration/event/4956225
Conference ID: 4956225
The call will be conducted in English.
Upon registering, each participant will receive a dial-in number, Direct Event passcode, and a unique access PIN, which can be used to join the conference call.
Forward-looking Statement
This report contains the disclosure of some forward-looking statements. Except for statements of facts, all other statements can be regarded as forward-looking statements, that is, about our or our management's intentions, expectations, plans, beliefs, or expectations that will or may occur in the future. Such statements are assumptions and estimates made by our management based on its experience and knowledge of historical trends, current conditions, expected future development and other related factors. This forward-looking statement does not guarantee future performance, and actual results, development and business decisions may not match the expectations of the forward-looking statement. Our forward-looking statements are also subject to a large number of risks and uncertainties, which may affect our short-term and long-term performance.
About InnoCare
InnoCare is a commercial stage biopharmaceutical company committed to discovering, developing, and commercializing first-in-class and/or best-in-class drugs for the treatment of cancer and autoimmune diseases. We strategically focus on lymphoma, solid tumors, and autoimmune diseases with high unmet medical needs in China and worldwide. InnoCare has branches in Beijing, Nanjing, Shanghai, Guangzhou, New Jersey, and Boston.
Contact
Media Investor Relations
Chunhua Lu
86-10-66609879 86-10-66609999
chunhua.lu@innocarepharma.com ir@innocarepharma.com
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