Innovent Biologics Inc. announced initial results from the first-in-human Phase 1 clinical trial of IBI3003, a novel trispecific antibody targeting GPRC5D, BCMA, and CD3 for the treatment of relapsed or refractory multiple myeloma. The data were presented in an oral session at the 2025 American Society of Hematology $(ASH)$ Annual Meeting. IBI3003 demonstrated favorable tolerability and a manageable safety profile, with encouraging efficacy signals observed, particularly in high-risk patients, including those with extramedullary disease or prior exposure to anti-BCMA and/or anti-GPRC5D therapies. The ongoing Phase 1/2 clinical trial (NCT06083207) is evaluating the safety, tolerability, and efficacy of IBI3003 in China and Australia.