RemeGen Co., Ltd (HKG: 9995; SHA: 688331), a China-based biotech firm, has unveiled its 2023 financial results, reporting revenues of RMB 1.083 billion (USD 150 million), reflecting a 40.26% year-on-year increase. This growth was primarily driven by its core products: the fusion protein drug telitacicept and the HER2-targeted antibody drug conjugate (ADC) candidate disitamab vedotin (RC48). However, net losses widened to RMB 1.543 billion (USD 213 million), largely attributed to increased investments in pipeline development and marketing efforts for both telitacicept and disitamab vedotin.
In terms of sales volume, telitacicept recorded 780,000 units sold, marking a 59.37% rise year-on-year, while disitamab vedotin achieved 170,000 units sold, a 15.24% increase. Telitacicept’s patents in China and the US are set to expire in June 2027 and June 15, 2028, respectively, whereas disitamab vedotin’s patent protection will lapse on November 17, 2034, in both markets.
Telitacicept, a novel recombinant fusion protein that targets both B lymphocyte stimulator (BLyS) and a proliferating-inducing ligand (APRIL), received conditional approval in China for the treatment of systemic lupus erythematosus (SLE) in March 2021, becoming the first domestic SLE drug in the country. It was included in the National Reimbursement Drug List (NRDL) at the end of 2021 and has since been adopted by over 800 hospitals in China, supported by RemeGen’s specialized autoimmune commercialization team that covers more than 2,200 hospitals across 32 provincial-level administrative units.
RemeGen currently has eight molecules under clinical development, with both telitacicept and disitamab vedotin undergoing clinical studies for multiple indications in China and the US.- Flcube.com
