Global biotechnology company Harbour BioMed (HKG: 2142), with operations in the United States, the Netherlands, and Suzhou (China), has released its financial report for the period ending December 31, 2022. The company reported a total revenue of USD 40.659 million, marking an increase of 846.5% year-on-year (YOY). Research and development (R&D) expenditure also saw a significant rise, reaching USD 135 million, up 26.2% YOY.
Continued Clinical Development and Pipeline Advancements
Throughout 2022, Harbour BioMed persistently advanced its clinical development pipeline, including both externally licensed and internally discovered candidates. A key milestone was reached with the Phase III clinical trial for batolizumab, licensed from HanAll Biopharma for the treatment of myasthenia gravis, which successfully met its endpoints and is now poised for filing. The company’s internal pipeline also progressed, with ongoing global clinical development for the fully human anti-CTLA-4 antibody HBM4003, the B7H4 and 4-1BB-targeted HBM7008, and the TSLP monoclonal antibody (mAb) HBM9378. Additionally, HBM1020, HBM1022, and HBM1007 received Investigational New Drug (IND) approvals from the US FDA, with Harbour BioMed planning to submit at least one global IND application for its in-house products annually.
Strategic Partnerships and Subsidiary Establishments
In 2022, Harbour BioMed forged partnerships with industry leaders such as AstraZeneca, Cullinan Oncology, CSPC Group, Kelun-Biotech, and Hualan Bio to bolster its pipeline products. The company also established a wholly-owned subsidiary, Nona Biosciences, to provide R&D solutions for next-generation antibodies and other biotherapeutic developments from discovery to the IND stage. Nona Biosciences secured several licensing deals with companies including Moderna and Dragonfly Therapeutics, contributing to the company’s significant revenue increase.
Incubation of Early-Stage Projects and Financing Rounds
Harbour BioMed was actively involved in incubating early-stage projects in 2022. HBM Alpha Therapeutics (HBMAT), a joint venture with Boston Children’s Hospital affiliated with Harvard Medical School, completed a seed round of financing. Enkai Cell Technology, a technology platform incubation project, closed a RMB 100 million Series A financing round, continuing its exploration of the cutting-edge field of NK cell therapy.-Fineline Info & Tech
