The performance soared 468 times!

Recently, Rongchang Bio released its prospectus, and the company's revenue growth in 2021 is particularly impressive, with a year-on-year increase of 468 times
.

Revenue increased 468 times, 5 new category 1 drugs on the way

On March 14, Rongchang Bio disclosed a letter of intent for listing on the Science and Technology Innovation Board, and officially entered the issuance stage.
The number of shares in the initial public offering of Rongchang Bio is about 54.
4263 million shares, and it plans to raise 4 billion yuan, which will be used for new biological drug industrialization projects.
, Anti-tumor antibody new drug research and development projects, autoimmune and ophthalmic disease antibody new drug research and development projects,
etc.

In November 2020, Rongchang Bio was listed on the Hong Kong Stock Exchange.
If the company is successfully listed on the Science and Technology Innovation Board, the company will become an "H+A" pharmaceutical stock
.

In 2021, Rongchang Bio's annual revenue will reach 1.
43 billion yuan, a year-on-year increase of 46753.
31%, and its net profit will be 280 million yuan, a year-on-year increase of 139.
59%
.

According to the prospectus, from 2018 to 2020, the compound annual growth rate of R&D expenses of Rongchang Bio was 46.
7%, and the total R&D expenses exceeded 1 billion yuan
.

Rongchang Bio listed drugs

Source: MED2.
0 China Drug Evaluation Data from Minet

Category 1 new drug Taitacept (RC18) and Category 2.
2 improved new drug Vidicitumumab (RC48) have both achieved “insurance in the same year as they were launched”.
Yuan / branch (specification 60mg)
.

Judging from the candidate drugs under research, RC-28 has entered the clinical phase II, and the four RC88, RC98, RC108 and RC118 are all in the clinical phase
I.

Rongchang Bio's clinical stage drugs

Source: Minet China Drug Clinical Trials Publicity Library

Sprinting into the field of ADC and dual-antibody drugs, the market is expected to exceed $40 billion

In terms of process technology, Rongchang Biotechnology focuses on the research and development of therapeutic antibody drugs such as antibody conjugated drugs (ADC), antibody fusion proteins, monoclonal antibodies and bispecific antibodies
.

In recent years, ADC drugs and bispecific antibodies have become hotspots in the development of new drugs
.

The global development history of ADC drugs has been more than 20 years, and it has experienced four generations of development
.
In 2000, Pfizer's gemtuzumab was approved for marketing, becoming the world's first approved ADC drug
.
However, ADC drugs did not cause a lot of waves in the global pharmaceutical industry at that time, and at that time, the drug had high off-target toxicity and low drug efficacy, so it was withdrawn from the market in 2010, and then reintroduced in 2017 with a lower graded dose.
listed
.
In 2018, the global ADC drug research and development boom broke out.
Compared with the first-generation gemtuzumab, the latest generation of ADC drugs represented by goxatuzumab achieved high DAR value, low toxicity and strong stability and other improvements.
, one of its features is the use of camptothecin-like TOP1 inhibitors as toxins with low toxicity
.

According to the global new drug research and development data of Minet.
com, there are currently more than 600 new ADC drug projects under research in the world, but most of them are in the drug discovery and preclinical stages.
Vebtuzumab, Goxatuzumab, Tilimumab, Velbutuximab, etc.
Among them, Roche's trastuzumab, emmet, will have global sales of CHF 1.
982 billion in 2021
.

Globally approved ADC drugs

Source: Minet Global New Drug Research and Development Database

In terms of the research and development progress of domestic ADC drugs, related drugs from companies such as Bio-Tech and TOT have entered the clinical phase III, and companies such as Hengrui, Kelun, and Meyake are in the clinical phase II
.

From the perspective of bispecific antibody drugs, due to the technical difficulty of research and development, there are very few bispecific antibody drugs on the market at present
.
In 2009, TRION's catuximab was approved for marketing, the world's first bispecific antibody drug
.
However, among the first bispecific antibody drugs on the market for more than ten years, only three new bispecific antibody drugs have been launched in the world: Roche's Emicizumab, Johnson & Johnson's Evantuzumab, and Amgen's Bilintuzumab
.
In 2020, the global sales of Roche's emeclizumab reached 2.
19 billion Swiss francs, becoming the first bispecific antibody drug to enter the global TOP100 in sales at that time.
In 2021, the sales of this drug have exceeded 3 billion Swiss francs
.

Double Antibody Drugs Listed Worldwide

Source: Minet Global New Drug Research and Development Database

According to the global new drug research and development data of Minet.
com, there are more than 1,000 bispecific antibody drug research projects in the world.
In addition to 4 listed drugs, 3 have submitted marketing applications, including cadonilimab (NMPA) of Kangfang Bio, Roche Faricimab from Boehringer Ingelheim and ozolizumab from Boehringer Ingelheim, in addition, 12 drugs from companies such as Corning Jereh, Baili Tian, ​​Pfizer, Novo Nordisk and other companies have entered the phase III clinical stage
.
From this point of view, the cadonilimab of Kangfang Bio is expected to become the first domestic double-antibody drug in the future
.