SAN FRANCISCO and SUZHOU, China, Aug. 25, 2021 /PRNewswire/ -- Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high quality medicines for the treatment of cancer, metabolic, autoimmune and other major diseases, announced its interim results for the six months ended June 30, 2021 and the corporate progress.
Dr. Michael Yu, Founder, Chairman and CEO of Innovent, stated: "With the clear strategy of global innovation and globalization, Innovent has been making a series of significant accomplishments in 2021. Our commercial portfolio was expanded from four to five with product revenue doubled from the first half of last year. We expect our commercial portfolio will own at least a total of ten products in next several years. We have built up a robust pipeline of 25 high value assets with broader global development footprint, which include our comprehensive and highly competitive pipeline in the immunology fields as well as high potential molecules in non-oncology areas. Moreover, our first BLA application of sintilimab in the U.S. marked a historic milestone for Innovent's globalization footprint. Our U.S. R&D center (the U.S. Lab) and the Scientific Advisory Board were established. This year we also entered into strategic collaborations with worldwide partners such as Ascentage Pharma, AnHeart and Synaffix. At the tenth year since its inception, we are very ambitious to transform Innovent to a premier global biopharmaceutical company, and will keep delivering value for our patients, employees, and shareholders along the journey."
BUSINESS HIGHLIGHTS
Five Commercial Products; Product Revenue Reached RMB1,854.6 Million
Robust Pipeline of 25 High Value Assets at Diverse Stages
Innovent has established a robust global pipeline of 25 high value assets across diversified clinical stages, within which 5 are commercialized, 6 are in phase 3 or pivotal trials, 14 in other clinical stages. The 25 assets cover major areas including monoclonal antibodies, bispecific antibodies, CAR-T and small molecules etc.
Approval of TVYTY® for Three Additional Major Indications
6 Assets in Phase 3 or Pivotal Stages
Besides 5 commercialized product portfolio, Innovent also have 6 assets that are in NDA stage or pivotal trails, which includes:
Comprehensive and Differentiated Pipeline in Immunology
Non-oncology Pipeline Made Remarkable Progress
Non-oncology represents another important pillar of Innovent's long term growth in major therapeutic areas including autoimmune, metabolic, and ophthalmology. The non-oncology pipeline has made very exciting and significant progress this year. In particular:
Entered Strategic Collaboration with Worldwide Partners
Innovent has entered into a series of strategic collaborations with world-class partners in 2021, in particular:
Accelerated Global R&D Footprint
Significant Expansion in Production Capacity
FINANCIAL HIGHLIGHTS(For the six months ended 30 June 2021)
About Innovent
Inspired by the spirit of "Start with Integrity, Succeed through Action," Innovent's mission is to develop, manufacture and commercialize high-quality biopharmaceutical products that are affordable to ordinary people. Established in 2011, Innovent is committed to developing, manufacturing and commercializing high-quality innovative medicines for the treatment of cancer, autoimmune, metabolic and other major diseases. On October 31, 2018, Innovent was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 01801.HK.
Since its inception, Innovent has developed a fully integrated multi-functional platform which includes R&D, CMC (Chemistry, Manufacturing, and Controls), clinical development and commercialization capabilities. Leveraging the platform, the company has built a robust pipeline of 25 valuable assets in the fields of cancer, metabolic, autoimmune disease and other major therapeutic areas, with 5 products – TYVYT® (sintilimab injection), BYVASDA® (bevacizumab biosimilar injection), SULINNO® (adalimumab biosimilar injection), HALPRYZA® (rituximab biosimilar injection) and Pemazyre® (pemigatinib oral inhibitor) – officially approved for marketing, 1 asset's NDA under NMPA review, sintilimab's Biologics License Application (BLA) acceptance in the U.S., 5 assets in Phase 3 or pivotal clinical trials, and an additional 14 molecules in clinical studies.
Innovent has built an international team with advanced talent in high-end biological drug development and commercialization, including many global experts. The company has also entered into strategic collaborations with Eli Lilly and Company, Adimab, Incyte, MD Anderson Cancer Center, Hanmi and other international partners. Innovent strives to work with many collaborators to help advance China's biopharmaceutical industry, improve drug availability and enhance the quality of the patients' lives. For more information, please visit: www.innoventbio.com.
Innovent Biologics, Inc. Forward-Looking Statements
This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Innovent, are intended to identify certain of such forward-looking statements. Innovent does not intend to update these forward-looking statements regularly.
These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent's competitive environment and political, economic, legal and social conditions.
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