By Fineline Cube 
China-based Innovent Biologics, Inc. (HKG: 1801) released its 2024 financial report, highlighting a robust growth momentum. The company generated total revenues of RMB 9.422 billion (USD 1.29 billion), up 51.8% year-on-year (YOY). Product sales reached RMB 8.228 billion (USD 1.13 billion), a 43.6% increase from the previous year, underscoring Innovent’s leading position in the oncology field.
Licensing Income and Partnerships
As of December 31, 2024, Innovent recorded RMB 1.1 billion (USD 151 million) in licensing income, a 146% YOY increase. This growth was driven by a series of cooperation agreements with IASO Biotherapeutics in the second half of 2024. Notably, Innovent licensed Fucaso (equecabtagene autoleucel), a BCMA-targeted chimeric antigen receptor (CAR) T cell therapy, to IASO Bio for exclusive development, manufacturing, and commercialization in July. By December 31, 2024, the confirmed licensing fee income reached RMB 690 million (USD 95 million).
Future Outlook and R&D Expansion
With 15 commercialized products, Innovent plans to accelerate the construction of a global R&D system in 2025. The company aims to advance more innovative molecules in the fields of tumors, autoimmune diseases, cardiovascular diseases, and metabolism into global, multi-center Phase I studies and IND (Investigational New Drug) stages. This strategic focus underscores Innovent’s commitment to expanding its global footprint and driving innovation in multiple therapeutic areas.-Fineline Info & Tech