Focusing on differentiated therapies, diversified pipelines go hand in hand: the company is a clinical-stage biopharmaceutical company that is mainly engaged in the discovery and development of differentiated antibody therapies for immune and oncological diseases, and can manufacture a variety of novel HcAb-based immune cell connecter bispecific antibodies. The company and the platinum antibody platform have evolved from a technical platform for generating traditional antibodies to a platform that promotes the discovery and development of differentiated antibody therapies for immune and oncological diseases and can be developed according to different medical needs. The company has established a diversified and balanced pipeline of immunology and immunological oncology therapies. Since its inception, it has received five rounds of equity financing.
The market for therapeutic antibodies is broad, and monoclonal antibodies are full of potential: therapeutic monoclonal antibodies or monoclonal antibodies (especially mono-specific and bispecific antibodies) have become the main treatment for various diseases in recent years, and have also become one of the best-selling drugs in the global pharmaceutical market. In 2019, the global therapeutic antibody market was approximately $163.9 billion. In contrast, although China's therapeutic antibody market was around $4.2 billion in the same year, it boomed between 2015 and 2019, with a compound annual growth rate of 32.4%.
Bartolizumab and tenacept are dual-core, multi-core pipeline layout: The company has established a dual-core pipeline with bartolizumab and tenacept, covering a variety of immune diseases. The layout is reasonable and has potential for development.
As the company's core products, bartolizumab and tenacept have shown certain advantages in terms of clinical data, and research and development is progressing smoothly. It is expected that they will be approved in recent years.
Investment advice: The company's core products, bartolizumab and tenacept, are already in the late stages of development. If progress goes smoothly, they are expected to be approved for listing in the near future, contributing to the company's revenue and cash flow. At the same time, the company's other drug research and development is progressing smoothly, which is expected to be the long-term driving force for the company's performance growth. The company's unique platinum antibody platform (HCAb platform, HBICETM platform, and H2L2 platform) has strong advantages in next-generation all-human antibody discovery. The platform is relatively mature in construction, and it is expected that new drugs will continue to be produced in the future. It is recommended to pay attention to it.
Risk warning: risk of product development failure, increased market competition, pressure on R&D capital, policy risk.