China-based Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd (HKG: 6990) has released its 2024 financial report, recording revenues of RMB 1.933 billion (USD 266 million), representing a 25.5% year-on-year (YOY) increase. This growth includes USD 147.5 million in cooperation payments from US partner Merck, Sharp & Dohme Inc. (MSD, NYSE: MRK), UK-based Ellipses Pharma, and Swiss firm Windward Bio. The company reported an annual loss of RMB 267 million (USD 37 million), a 53.5% YOY decrease, with year-end cash and cash equivalents amounting to RMB 1.337 billion (USD 184 million).
Core Product Approvals
The company’s core product, Jiatailai (sacituzumab tirumotecan), a TROP2-targeted antibody drug conjugate (ADC), received approval in China for the treatment of second-line and above triple-negative breast cancer (TNBC) and locally advanced or metastatic EGFR mutant non-small cell lung cancer (NSCLC) following treatment failure with EGFR-TKI and platinum-based chemotherapy. Another anti-HER2 antibody drug conjugate (ADC), trastuzumab botidotin (A166), is expected to launch in China this year, with its indication approval filing under review for use in adult patients with HER2-positive unresectable or metastatic breast cancer who have received at least one prior anti-HER2 treatment.
Additional Approvals and Commercialization
Ketailai (tagitanlimab), a programmed death ligand 1 (PD-L1) monoclonal antibody (mAb), and Datailai, a biosimilar version of Merck KGaA/Bristol-Myers Squibb’s (BMS) cetuximab (trade name: Erbitux), also received NMPA approval. Commercialization activities have already commenced for Jiatailai, Ketailai, and Datailai, marking significant progress in the company’s product portfolio and market presence.-Fineline Info & Tech
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