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Investor Relations14 Oct 2025
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InnoCare Pharma (9969) investor relations material
InnoCare Pharma Status Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Status Update summary9 Oct, 2025
Strategic collaboration and licensing agreement
Zenas acquires global development and commercialization rights for orelabrutinib in multiple sclerosis and other non-oncology indications, plus two preclinical autoimmune candidates, from InnoCare Pharma.
The agreement includes an upfront payment of up to $100 million, milestone payments, up to 7 million Zenas shares, and total potential transaction value exceeding $2 billion, with tiered royalties up to 10% on net sales.
Zenas gains exclusive global rights for orelabrutinib in MS and non-oncology areas outside Greater China and Southeast Asia, while InnoCare retains oncology and regional rights.
Clinical development and pipeline updates
Orelabrutinib is in a global Phase III trial for primary progressive MS (PPMS), with a secondary progressive MS (SPMS) trial to start in Q1 2026; both trials approved by FDA and EMA.
Phase II data showed orelabrutinib significantly reduced new brain lesions and maintained efficacy through 96 weeks in relapsing-remitting MS.
Two preclinical assets, an oral IL-17AA/AF inhibitor and a brain-penetrating oral TYK2 inhibitor, are expected to enter clinical trials in 2026.
Zenas' pipeline also includes obexelimab, with Phase III data in IgG4-RD expected end of 2025 and Phase II data in relapsing MS in Q4 2025.
Strategic rationale and future outlook
The collaboration aims to accelerate orelabrutinib's global development and maximize its commercial value, especially in progressive MS where treatment options are limited.
Both companies emphasize the potential for orelabrutinib and the new preclinical assets to become best-in-class therapies for autoimmune diseases.
Zenas plans to leverage its late-stage development expertise to efficiently advance orelabrutinib and other pipeline assets.
Detail key value drivers for the $2B deal
What differentiates orelabrutinib from other BTK inhibitors for MS?
How do orelabrutinib and obexelimab MS strategies align?
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Next InnoCare Pharma earnings date
Q3 202510 Nov, 2025
Next InnoCare Pharma earnings date
Q3 202510 Nov, 2025
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Frequently asked questions
InnoCare Pharma Limited is a biopharmaceutical company focused on the discovery, development, and commercialization of innovative treatments for cancer and autoimmune diseases. The company leverages its research and development capabilities to advance targeted therapies, including small molecules and biologics. InnoCare’s pipeline includes investigational treatments addressing hematologic malignancies, solid tumors, and chronic immune-related conditions. The company is headquartered in Beijing, China, and its shares are listed on the HKEX.
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