Innovent Biologics

1801.HK

Suzhou, China· Est. 2011

innoventbio.com

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1801.HK · Stock Price

HKD 91.10+38.70 (+73.85%)

Market Cap: $19.9B

Historical price data

Market Cap: $19.9BPipeline: 200 drugs (42 Phase 3)Patents: 3Founded: 2011Employees: 3000-5000HQ: Suzhou, China

Sector Ranking#29 in Biologics / Biosimilars #3 in Oncology (General)

Overview

Innovent Biologics' mission is to develop and commercialize high-quality, innovative medicines that are affordable and accessible to patients worldwide. Its key achievements include a successful 2018 Hong Kong IPO, the commercialization of multiple blockbuster products like Tyvyt® (sintilimab), and the establishment of a deep, diversified pipeline through internal R&D and strategic partnerships. The company's strategy hinges on full integration, global expansion, and leveraging its robust technology platforms to deliver a sustainable portfolio of novel biologics.

OncologyMetabolic DisordersAutoimmune Diseases

Technology Platform

A fully integrated platform encompassing antibody discovery, bispecific/multi-specific engineering, antibody-drug conjugate (ADC) development, cell therapy, and large-scale commercial manufacturing.

Pipeline

200

200 drugs in pipeline42 in Phase 3

Drug	Indication	Stage
Febuxostat + Tigulixostat	Gout	Phase 3
IBI301 plus CHOP + Rituximab plus CHOP	Diffuse, Large B-Cell, Lymphoma	Phase 3
IBI310 + Sintilimab + Sorafenib	Hepatocellular Carcinoma	Phase 3
IBI311 + Placebo	Thyroid Eye Disease	Phase 3
IBI310+IBI308 + IBI308 + High-dose recombinant interferon a-...	Acral Melanoma That Has Been Removed by Surgery	Phase 3

Funding History

Total raised:$768M

IPO$483MUndisclosedOct 31, 2018

Series C$160MCapital GroupJun 15, 2016

Series B$100MHillhouse CapitalJun 15, 2015

Series A$25MFidelity InvestmentsJun 15, 2012

Opportunities

The global obesity/diabetes market presents a multi-hundred-billion-dollar opportunity, with IBI-362 showing best-in-class potential.

International expansion, starting with regulatory approvals for sintilimab in the US and EU, offers a significant avenue for growth beyond the domestic Chinese market.

Risk Factors

Intense competition and pricing pressure in the core Chinese oncology market threaten revenue growth.

Clinical failure of a key late-stage asset like IBI-362 or regulatory setbacks in international markets could significantly impact the long-term valuation and growth trajectory.

Competitive Landscape

Innovent faces fierce domestic competition from peers like BeiGene and Hengrui Medicine, and global competition from pharma giants in bispecifics, ADCs, and metabolic therapies. Its integrated cost structure, deep China expertise, and strategic global partnerships are key differentiators.