Innovent Biologics (1801) Investor Update summary

Opening and strategic vision

• The summit emphasized collaboration and innovation to address unmet clinical needs in oncology, aligning with the Healthy China 2030 initiative.

• Industry leaders and experts highlighted the transition from generics to innovative biologics, with significant improvements in drug accessibility and affordability over the past decade.

• Regulatory reforms, capital influx, and talent return have fueled rapid growth and global competitiveness in China's biopharma sector.

• The company aims to become a world-class biopharma by 2030, targeting five assets in global phase III trials and two marketed products in the US.

Melanoma: Unmet needs and epidemiology

• Acral and mucosal melanoma are predominant in China, with poor prognosis and low response to immunotherapy compared to cutaneous melanoma in Western populations.

• Immunotherapy-treated melanoma patients globally have limited benefit from subsequent therapies, with ORR often below 20%.

• Acral and mucosal subtypes exhibit lower tumor mutation burden and higher immunosuppressive cell infiltration, contributing to innate immune resistance.

R&D and innovation highlights

• Over 500 scientists across three R&D centers focus on next-generation IO and ADC platforms, including bispecific and trispecific antibodies.

• IBI363 is a PD-1/IL-2α-bias bispecific antibody designed for dual immune activation, enhancing T cell function and expansion while minimizing IL-2 toxicity.

• The molecule preferentially activates tumor-specific T cells and avoids excessive activation of peripheral Tregs, aiming to turn immune 'cold' tumors 'hot'.

• Mechanistic studies confirm increased CD8+ T cell infiltration and improved CD8/FOXP3 ratio post-treatment.

• The pipeline includes monotarget, bispecific, and dual payload ADCs, with differentiated safety and efficacy profiles.