Lepu Biotechnology Co., Ltd (HKG: 2157), a biopharmaceutical company based in China, has released its financial report for 2023, showcasing a significant increase in revenues to RMB 225 million (USD 31 million), marking a year-on-year (YOY) growth of 1,347%. This substantial revenue included RMB 124 million (USD 17.1 million) from licensing income, attributed to a deal signed with AstraZeneca in February 2023 for Lepu’s Claudin18.2 antibody drug conjugate (ADC) CMG901. Additionally, the programmed death 1 (PD-1) monoclonal antibody (mAb) pucotenlimab contributed RMB 101 million (USD 14 million) in sales.
The company’s bottom line was further bolstered by equity transactions, with RMB 104 million and RMB 116 million in income generated related to HealSun Biopharm and Binhui Biotech, respectively. The surge in commercial revenue and investment returns significantly narrowed Lepu’s annual losses by 96.8% compared to 2022, to RMB 30.3 million (USD 4.2 million).
During the reported period, Lepu invested RMB 458 million (USD 63.3 million) in research and development, a decrease of 12.6% YOY. The EFGR-targeted ADC MRG003 has initiated a Phase IIb regulatory study in nasopharyngeal carcinoma (NPC), with plans for a market filing for this indication later this year. The HER2 ADC MRG002 is undergoing a Phase II study in liver metastatic breast cancer with high HER2 expression and a Phase III study in HER2+ breast cancer. The TF ADC MRG004 is in Phase I trials for solid tumors in the US and China.
Lepu is advancing its pipeline through the next-generation ADC platform Hi TOPi, which offers advantages in linker stability, payload effectiveness, safety, and treatment window, along with the T-cell adapter platform TOPBody, designed to develop next-generation T-cell agonist antibodies that activate anti-tumor cell immunity.- Flcube.com
