-- Robust revenue growth and substantial profit improvement 
 
   -- Continued exceptional executions under a clear roadmap of dual-driven 
      growth and global innovation 

SAN FRANCISCO and SUZHOU, China, Aug. 27, 2025 /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, cardiovascular and metabolic, autoimmune, ophthalmology and other major diseases, announces its 2025 interim results and major business updates.

Dr. Michael Yu, Founder, Chairman of the Board and CEO of Innovent, stated: "We delivered an outstanding performance in the first half of 2025, driven by the comprehensive acceleration of our dual-engine growth model and global innovation strategy. Supported by our oncology leadership and successful commercial launch across our general biomedicine portfolio, we have expanded our product portfolio to 16 drugs and achieved a notable improvement in revenue and profitability, maintaining strong business momentum.

On the innovation front, several core pipeline candidates with global potential achieved key proof-of-concept data, and are entering global registration trials. This demonstrates the depth of Innovent's innovation capabilities and lays a solid foundation for globalization.

We firmly believe that a clear strategic vision combined with excellent execution will continue to drive Innovent's growth. Looking ahead, we will further consolidate our leadership in oncology, continue exploring and implementing diversified commercialization strategies across our general biomedicine product portfolio, and accelerate the global development of our next-generation innovative pipeline. Anchored by our strategic goals of achieving RMB 20 billion in product revenue by 2027 and advancing five pipeline programs into global Phase 3 trials by 2030, Innovent will continue striving to become a world-class biopharmaceutical company."

Dual-driven revenue growth with execution excellence

Robust revenue growth and substantial profit improvement([1])

   -- Total revenue: RMB 5.95 billion, up 50.6% year-on-year 
 
   -- Product revenue: RMB 5.23 billion, up 37.3% year-on-year 
 
   -- Net profit: RMB 1.21 billion; EBITDA: RMB 1.41 billion 
 
   -- Gross margin: 86.8%, up 2.7 percentage points year-on-year 
 
   -- Selling and administrative expenses ratio: 44.2%, down 7.9 percentage 
      points year-on-year 
 
   -- R&D investment: RMB 903 million 
 
   -- Cash on hand: approximately USD 2 billion[2] 

Dual-engine growth supported by comprehensive and diversified product portfolio

   -- Expansion of oncology product portfolio with three new launches 
 
          -- Dovbleron$(R)$ (taletrectinib) : Potentially best-in-class 
             ROS1 inhibitor 
 
          -- Limertinib: Third-generation EGFR TKI 
 
          -- Jaypirca(R)(pirtobrutinib) : First non-covalent BTK inhibitor 
 
   -- Strengthening general biomedicine portfolio with innovative pipeline 
 
          -- SINTBILO(R) (tafolecimab injection): First PCSK-9 inhibitor 
             successfully included in the NRDL, received approval by Macau ISAF 
             in May 2025 
 
          -- SYCUME(R) (teprotumumab N01 injection): First approved anti-IGF-1R 
             monoclonal antibody, ending a 70-year drought of no new treatment 
             options for thyroid eye disease (TED) in China 
 
          -- Mazdutide (GCG/GLP-1) : Globally first and only GCG/GLP-1 
             dual receptor agonist for weight management, with another NDA for 
             glycemic control of T2D adults under NMPA review 

Innovative commercial strategy with multi-channel coverage

   -- Actively responding to the national "Year of Weight Management": 
      Participating in the development of the weight-loss industry ecosystem, 
      promoting the concept of scientific weight management, and advancing 
      obesity prevention and chronic disease management 
 
   -- Deepening hospital presence and academic influence: Strengthening 
      academic coverage in public hospitals, with the GLORY-1 study published 
      in The New England Journal of Medicine, significantly enhancing academic 
      influence 
 
   -- Innovative multi-channel coverage: Leveraging a comprehensive sales team 
      of over 1,000 people, integrating public hospitals, retail pharmacies, 
      online medical platforms, and private clinic networks to facilitate 
      convenient access to medications for chronic disease patients 
 
   -- Emphasizing disease education and patient management: Integrating digital 
      tools and professional activities to establish a patient-centric disease 
      management system, enhancing chronic disease education and patient 
      adherence 

Enhancing brand strength through the establishment of a lifecycle management system

   -- TYVYT(R): NDAs for renal and colorectal cancer are under regulatory 
      review; Phase 3 study of neoadjuvant treatment in lung cancer is underway 
 
   -- SYCUME(R) (teprotumumab N01 injection): new Phase 3 studies in plan for 
      inactive TED and head-to-head comparison with steroid therapy in TED 
 
   -- Mazdutide (GCG/GLP-1): second NDA for glycemic control of T2D adults is 
      under regulatory review, alongside with two new Phase 3 studies for 
      obstructive sleep apnea (OSA) and obesity with metabolic 
      dysfunction-associated fatty liver disease (MAFLD, head-to-head with 
      semaglutide 2.4mg). Additional PoC studies are ongoing for adolescent 
      obesity, metabolic dysfunction-associated steatohepatitis (MASH), heart 
      failure with preserved ejection fraction (HFpEF), etc. 
 
   -- Picankibart (IL-23p19): a potent and long-acting IL-23p19 for 
      moderate-to-severe plaque psoriasis pending NMPA approval; Phase 3 
      studies are ongoing for treatment withdrawal maintenance and psoriasis 
      with prior inadequate response to IL-17 biologics 

Emerging value from globalization strategy, prioritizing novel pipeline's global R&D

Flagship pipeline showcased at top-tier conferences, entering global registration studies

   -- IBI363 (PD-1/IL-2<ALPHA>-bias): Unleashing potential as a next-generation 
      IO therapy with global first-in-class design 
 
          -- Three oral presentations at ASCO highlighted breakthrough PoC data 
             across difficult-to-treat tumors such as IO resistant cold tumors 
             and low PD-L1 expression, demonstrating the unique advantages of 
             dual immune activation and long-term survival benefits 
 
          -- Three pivotal studies are underway or in plan: the first global 
             Phase 3 study is initiating in China and the U.S. to address unmet 
             needs in IO-resistant squamous NSCLC; the first pivotal Phase 2 
             study in melanoma was initiated, challenging Keytruda in 
             first-line setting; and the first Phase 3 study in late-line 
             colorectal cancer is about to initiate 
 
          -- Continuous exploration in first-line settings and more cancer 
             types, including first-line lung cancer, first-line colorectal 
             cancer, neoadjuvant lung cancer, EGFR-mutated lung cancer, 
             platinum-resistant ovarian cancer, and more 
 
   -- BI343 (CLDN18.2 ADC): two registration trials in GC and PDAC; globally 
      the first ADC to enter a Phase 3 trial in PDAC 
 
          -- First MRCT Phase 3 study of GC has been initiated in China and 
             Japan 
 
          -- First Phase 3 study of PDAC has been initiated 
 
          -- Global MRCT of PDAC is in plan 
 
          -- NMPA CDE Breakthrough Therapy Designation (BTD) and FDA Fast-track 
             Designation (FTD) granted 
 
   -- Over 10 next-generation programs advancing into global development 
   -- Oncology: IBI3009 (DLL3 ADC), IBI3001 (EGFR/B7H3 ADC), IBI3003 
      (GPRC5D/BCMA/CD3), IBI3005 (EGFR/HER3 ADC), IBI3014 (PD-L1/TROP2 ADC), 
      IBI3020 (CEACAM5 dual-payload ADC), etc 
 
   -- CVM: IBI3016 (AGT siRNA), IBI3032 (oral GLP-1), etc 
 
   -- Autoimmune: IBI356 (OX40L), IBI3002 (TSLP/ IL-4R<ALPHA>), etc 

Hybrid models to accelerate innovation

   -- IBI3009 (DLL3 ADC): global rights granted to Roche, to benefit SCLC 
      patients worldwide 

Enhance global presence with broader market access

   -- Six products (TYVYT(R), BYVASDA(R), Pemazyre(R), Dupert(R), SINTBILO(R), 
      SYCUME(R)) have been launched in markets including Hong Kong, Macau, 
      Taiwan, and Southeast Asia 
 
   -- More launches planned Brazil, Mexico, Columbia, India, etc 

Research innovation showcased at medical conferences

   -- Oncology pipeline: AACR, ASCO, Nature Medicine 
 
   -- General biomedicine pipeline: ADA, NEJM 

Facilities and manufacturing capacity adhering to high-quality standards

   -- 7,500 employees globally 
 
   -- Global R&D centers located in the San Francisco Bay Area, Shanghai, 
      and Suzhou 
 
   -- To date, Innovent has a total of 140,000L of operational capacity, 
      accounting for 20% of China's total biopharmaceutical production capacity 
 
   -- First manufacturing site: 60,000L antibody and ADC production capacity in 
      operation, ensuring high-quality supply 
 
   -- Second manufacturing site: first phase of 80,000L antibody production 
      capacity in operation, for global supply and CDMO operations 

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August 27, 2025 06:08 ET (10:08 GMT)