Nanjing-based GenScript Biotech, a biopharma and contract research firm, reported a 32.7% year-on-year (YOY) revenue increase to USD 304.7 million for H1 2022. The growth was driven by sales from its CAR-T cell therapy partnership with Johnson & Johnson’s Janssen, offsetting rising group losses.
Revenue Breakdown
- Non-Cell Therapy Revenue: USD 247.7 million (+26.6% YOY)
- CAR-T Therapy Revenue: USD 57 million (+68.1% YOY) from the Legend Biotech-Janssen collaboration on Carvykti (ciltacabtagene autoleucel), a BCMA-targeted
CAR-T therapy.
Carvykti Milestones
Carvykti received U.S. approval in February 2023 for relapsed/refractory multiple myeloma (r/r MM) and conditional EU approval in May. Revenue growth reflects milestones achieved in 2021 and 2022.
Financial Performance
Despite revenue gains, GenScript’s group losses widened to USD 225.9 million in H1 2022 from USD 156.1 million a year prior, reflecting R&D investments and operational costs.-Fineline Info & Tech
