If the past two years for the industry were defined by 'de-leveraging,' then GenScript Biotech's current financial results serve as a powerful validation of its capabilities following a challenging cycle. GenScript has once again set new records. On March 15th, the company released its 2025 annual performance report: revenue from continuing operations reached $960 million, a year-on-year increase of 61.4%; adjusted net profit surged to $230 million, a remarkable 285% growth compared to the previous year. The quality of these results is evident in two key areas: a significant expansion in profitability and the ongoing optimization of its core business structure. Behind this robust growth, all three business segments demonstrated a synergistic upward trend.
The Life Sciences business surpassed the $500 million revenue milestone for the first time, growing 14.8% year-on-year, marking a critical inflection point in scale. ProfoundBio (the CRDMO business) experienced robust growth, achieving $388 million in revenue with a growth rate exceeding three times that of the previous year. Bestzyme (the synthetic biology business) reported revenue of approximately $58 million, growing at 7.9%, outpacing the industry's average growth rate of 5%.
So, what signals does this industry-leading performance send? If GenScript's counter-cyclical growth in 2024, amid pressure on most CXO companies, demonstrated resilience, then its record-breaking performance in 2025 further validates its deep-seated operational strength to navigate market cycles. Over the past year, industry divergence has intensified, macroeconomic pressures persisted, and the CXO sector transitioned from pure scale expansion into a phase focused on high-quality development. Concurrently, global R&D demand has gradually warmed, the出海 (going global) trend for Chinese innovative drugs has gained momentum, and investment and financing have entered a period of moderate recovery after a four-year downturn. While some companies struggled, others leveraged the environment to achieve a leap forward. At this intersection of opportunity and challenge, GenScript's record-setting results have undoubtedly injected a strong dose of confidence into the market.
As artificial intelligence deeply empowers R&D and production, and as its global layout continues to be implemented, GenScript's "platform flywheel" is spinning at an unprecedented pace, entering its own golden harvest period.
**01 Three Pillars Driving Growth Simultaneously** Overall, GenScript's three segments each showcased distinct strengths: the Life Sciences business crossed a crucial scale threshold, ProfoundBio emerged as a powerful new growth engine with astonishing momentum, and the synthetic biology platform, Bestzyme, led the industry through its forward-looking strategy. The simultaneous acceleration of these "three pillars" is no coincidence. It signifies that GenScript is carving out a unique, systematic path for value realization.
Having been deeply entrenched in the life sciences field for decades, this segment has consistently been GenScript's most reliable performance anchor. In 2025, the Life Sciences business group officially crossed the $500 million revenue mark, achieving 14.8% year-on-year growth and reaching a critical scale inflection point. This milestone results from years of accumulated potential finally accelerating. From 2021 to 2024, while the global biotech industry endured a "funding winter" that left many upstream service providers struggling, GenScript's Life Sciences business navigated the cycle with a compound annual growth rate (CAGR) of 12.9%, demonstrating remarkable operational resilience. The acceleration to 14.8% growth in 2025, hitting the high end of financial guidance, underscores the quality of this growth.
In fact, GenScript is already an undeniable force in the global biotech upstream sector. In the R&D labs of top pharmaceutical companies, when "gene synthesis" is mentioned, GenScript is often the preferred choice. But today's GenScript is clearly more than that. It is evolving from a pure "service and product provider" into a comprehensive "leading biotech platform." In recent years, the company has vigorously integrated its gene, protein, RNA, peptide, and antibody businesses. This strategic integration began yielding significant commercial momentum in 2025—approximately 65% of the year's revenue growth came from synergistic "gene-to-protein" one-stop services, highlighting the emerging flywheel effect of the platform.
Leveraging its deep expertise and platform advantages, GenScript possesses a vast portfolio of high-quality clients and continues to deepen its ecosystem development. In 2025, sales revenue from pharmaceutical and biotech companies grew 24% year-on-year, with revenue from the global top 20 pharmaceutical companies increasing by over 16%, fully demonstrating the platform's long-term strategic value to top-tier clients. Additionally, the academic client base maintained a steady growth of nearly 15%, while revenue from new clients surged over 30%, indicating strong brand appeal in new markets.
Meanwhile, GenScript's CRDMO business, ProfoundBio, is becoming a powerful new growth engine driving overall acceleration. In 2025, ProfoundBio achieved revenue of $390 million, a staggering year-on-year increase of 309.1%. Its contribution to total revenue jumped from about 16% in 2024 to approximately 40%, establishing it as the core driver of the company's growth. The catalyst for this explosive growth was the perfect alignment of the出海 wave for Chinese innovative drugs and ProfoundBio's deep technological reserves. The key asset, a PD-1 VHH antibody, for the PD-1/VEGF bispecific antibody LM-299—licensed by Novagen (Linxing) to Merck—was independently developed by ProfoundBio. This deal resulted in ProfoundBio receiving approximately $284 million in cumulative payments under the licensing agreement by the end of 2025, contributing significantly to the current period's performance.
More importantly, even excluding this major transaction, ProfoundBio's fee-for-service (FFS) revenue still achieved over 21% organic growth. This indicates that its high-growth trajectory is solidly based, not reliant on a "one-off firework," but supported by a deep business foundation. This growth confidence stems from ProfoundBio's differentiated advantages in antibody protein drug CDMO and cell and gene therapy (CGT) CDMO. Particularly as the entire industry races towards the frontier of "in vivo CAR-T," ProfoundBio had already completed its forward-looking布局, establishing a self-developed CD3/CD7 dual-targeting LVV and t-LNP delivery platform, and successfully launching CMC and quality research platforms for LVV and t-LNP, securing a strong position in this technological wave.
In 2025, ProfoundBio's new orders grew by approximately 22%, reaching $158 million. These orders will gradually convert into revenue in 2026, laying the groundwork for the next growth cycle. Simultaneously, ProfoundBio is steadily advancing multiple projects based on its proprietary platform and high-potential assets, aiming to empower client success and accelerate drug development processes.
Within GenScript's business portfolio, while Bestzyme is smaller in scale, it holds significant potential. In 2025, Bestzyme grew 7.9% year-on-year, outperforming the industry's average growth rate of 5%. Particularly against a backdrop of significant volatility in the enzyme industry due to macroeconomic influences, the top five enzyme products, accounting for about 50% of Bestzyme's revenue, maintained steady sales growth. The core driver of this stable growth lies in "high-value innovative products." In 2025, sales of the innovative new detergent enzyme approached tens of millions of RMB, while the new phytase captured 20% of its category's sales in its launch year.
Even greater potential lies within the synthetic biology pipeline. The natural sweet protein Mellia®, a name that might sound unfamiliar, could become one of Bestzyme's most important future products. In 2025, it not only received GRAS certification from the U.S. FDA, but its commercial plant in Jinan is also nearing operational status. As synthetic biology becomes the next frontier chased by capital, Bestzyme may already be positioned to catch the wind.
A sufficiently stable "anchor," a sufficiently powerful "growth engine," and a sufficiently forward-looking "business map"—GenScript's three segments all entered an acceleration phase simultaneously in 2025. This is not merely parallel business growth but the beginning of systematic value release from a mature platform. For GenScript, the real growth story may have just begun.
**02 GenScript's Growth Formula** What is the driving force behind the simultaneous爆发 of GenScript's three segments? A statement from Dr. Rui Chen, President of the Life Sciences Business Group, provides a precise answer: "Only a combination that integrates capabilities, delivery speed, and scientific excellence can truly deliver the greatest, most differentiated value to customers." Over the past year, it is precisely this power of "integration" that has propelled the comprehensive release of GenScript's platform flywheel effect.
The most direct validation comes from the company's "gene-to-protein" one-stop service, where the gene business continuously feeds the downstream protein business. In 2025, the delivery volume of protein preparations supported by the gene business increased over 160%, directly driving protein revenue growth of more than 50%. The gene synthesis platform itself also expanded rapidly, with the number of base pairs delivered growing approximately 46% year-on-year.
More importantly, GenScript is extending this platform capability from customized services to standardized products, further opening up space in high-margin markets. Currently, 17 of the global top 20 pharmaceutical companies use its AmMag Quatro automated protein purification system.
GenScript is likely one of the earliest companies in the industry to transform AI from a "buzzword" into "core productivity." In 2025, all three business segments continued to enhance production efficiency, increase resilience, and improve profit margins through AI-enabled smart production and automation innovation. On the life sciences side, four of GenScript's five major production bases have been upgraded into fully automated, AI-powered "lights-out factories." It is projected that by the end of 2026, 60% of the company's global production will be handled by autonomous, AI-driven smart manufacturing centers, enabling 24/7 operation, achieving extreme precision alongside industry-leading cost-effectiveness.
The value of this capability is already reflected in the order structure. Among the protein orders delivered by GenScript, projects related to AI and complex antibody drug development already account for approximately 70%. This sends a clear signal: GenScript's platform is deeply aligned with the future direction of biotech innovation.
At Bestzyme, AI's empowerment permeates the entire R&D chain more profoundly. On one hand, AI is systematically applied to the screening of enzyme preparations and synthetic biology molecules. Leveraging years of accumulated product development data, Bestzyme has developed multiple proprietary AI generative models and achieved combined use. Integrated with GenScript's robust wet-lab platform, this enables fast, reliable, and economical DNA synthesis and protein preparation. More crucially, by testing candidate products with data and further accumulating high-quality data, the company has completed the R&D closed-loop and continuous optimization of its LDBT platform.
On the other hand, AI is reshaping R&D efficiency and optimizing the performance of existing products. With the aid of the AI platform, Bestzyme achieved an approximately 140% improvement in R&D efficiency, reducing the average project cycle significantly to six months. In 2025, the company added over 20 new high-performance molecules to its pipeline, supporting the delivery of six innovative enzyme products. This means the ammunition for future growth is already "loaded."
In ProfoundBio's antibody protein drug discovery business, AI is used to optimize the hybridoma platform. Leveraging AI's data processing capabilities, the monoclonal rate was successfully increased from 70% to 86%.
In summary, as competition in biotechnology enters the "AI-driven" second half, GenScript has already secured an advantageous position.
Concurrently, GenScript's globalization efforts are accelerating, with all three segments showing significant growth in overseas revenue. In 2025, the Life Sciences segment's European business recorded its fifth consecutive year of strong growth, with the growth rate exceeding 30% for the year. ProfoundBio's global business also grew significantly, with the revenue share from Europe and the U.S. rising notably to 38%. Particularly in antibody protein CDMO CMC projects, overseas clients accounted for 40%, further validating the effectiveness of the company's global market strategy. Additionally, the proportion of Bestzyme's overseas revenue increased significantly year-on-year, reaching 26%.
It is worth noting that for global clients, ESG ratings are a key criterion for selecting partners. Through years of sustained strategic investment and management optimization, GenScript's ESG performance has reached a leading level in the industry. In 2025, MSCI upgraded the company's ESG rating to 'AA,' signifying GenScript's official entry into the ranks of "industry leaders." Just last month, GenScript was successfully included in the 2026 S&P Global Sustainability Yearbook, recognizing it as a global benchmark for sustainable development.
These data points prove that GenScript is continuously embedding its deep capabilities in R&D, production, and service into the global biopharmaceutical innovation landscape.
**03 Outlook** Looking ahead, GenScript has provided clear and confident guidance: Life Sciences revenue growth of 15%-18%, ProfoundBio FFS business growth of 20%-25%, and Bestzyme growth of 10%-15%—indicating that all three segments will continue to deepen their expertise in their respective fields while releasing greater power through tighter synergy.
Notably, the financial metrics of the affiliated company, Legend Biotech, are continuously improving. Sales of Carvykti® grew rapidly in 2025, achieving full-year profitability. In 2026, Legend Biotech is expected to achieve operational profitability at the company level, which will also positively impact GenScript's financials in the future.
Objectively speaking, a portion of GenScript's performance in this growth cycle benefited from a single major transaction, and its sustainability remains to be verified in subsequent periods. However, looking beyond short-term fluctuations, the company's fundamentals are being steadily reinforced, as seen in FFS business growth, order book expansion, and client ecosystem development. This is the true foundation that supports a company through cycles.
Promisingly, GenScript's future growth trajectory is rapidly taking shape. The conversion of core orders for ProfoundBio's in vivo CAR-T platform, the imminent commercial production of Bestzyme's sweet protein, and the deep AI empowerment across all business lines will open up even broader growth space for GenScript.
As the platform flywheel gains speed, GenScript's next challenge lies in managing its increasingly vast ecosystem and navigating steadily towards its mission of "making human and nature healthier with biotechnology." For GenScript, 2026 is a critical year for capability building—the deepening of business synergy, the execution of its global layout, and the acceleration of automation and digitalization will determine how far these "three pillars" can run.
For the entire industry, GenScript's report card provides a significant footnote on the CXO sector's transition from scale expansion into the deep waters of high-quality development.