Hangzhou Tigermed Consulting Co., Ltd. Class A · SZSE:300347
Hangzhou Tigermed Consulting Co., Ltd. Class A — J.P. Morgan Healthcare Conference 2025
28 slides from Hangzhou Tigermed Consulting Co., Ltd. Class A's conference presentation, January 2025
Slide 1: J.P. Morgan Healthcare Conference 2025
J.P. Morgan Healthcare Conference 2025 Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK San Francisco, CA, US January 2025 www.tigermedgrp.com Confidential
Slide 2: Disclaimer
Disclaimer By reading these materials, you agree to be bound by the following limitations: The information herein has been prepared by representatives of Hangzhou Tigermed Consulting Co., Ltd. (杭州泰格医药科技股份有限公司, the “Company”) solely for your information and have not been independently verified. The i
Slide 3: China Clinical CRO Industry Update
PART 1 China Clinical CRO Industry Update www.tigermedgrp.com Confidential
Slide 4: China Clinical CRO Industry Expected to Enter a New Growth Phase
CRO Landscape MNC & Local Pharma Biotech China Clinical CRO Industry Expected to Enter a New Growth Phase • Circa 50% of China clinical trials were outsourced to clinical CROs in 2019-2024 (excluding peripheral services, data from HGRAC) China Clinical CRO Market Size Billions RMB Rapid Growth Cycle
Slide 5: China Clinical CRO Market Share Evolvement (including clinical and related services)
CRO Landscape MNC & Local Pharma Biotech China Clinical CRO Market Share Evolvement (including clinical and related services) • Tigermed maintained as the leading clinical CRO service provider in China from 2019-2023 • The market share increase of other local players is mainly attributed to site man
Slide 6: China Clinical CRO Market Share Evolvement (from HGRAC project numbers)
CRO Landscape MNC & Local Pharma Biotech China Clinical CRO Market Share Evolvement (from HGRAC project numbers) • Tigermed was re-designated as a local clinical CRO since 2023 and hence certain projects with local sponsors are exempted from HGRAC filing • Global clinical CROs maintained the lead as
Slide 7: Overcapacity Seen Extended to China Clinical CRO Industry...
CRO Landscape MNC & Local Pharma Biotech Overcapacity Seen Extended to China Clinical CRO Industry... Supply & demand between China and Ongoing trials available per Clinical CRO in Overcapacity is not industry specific (3) the U.S. in clinical trial outsourcing China far behind that in the U.S. A st
Slide 8: Supply Side Consolidation has Started
CRO Landscape MNC & Local Pharma Biotech Supply Side Consolidation has Started Trend comparison of number # of sponsors(1) # of clinical CROs(1) of sponsors and clinical CROs 800 200 each year from HGRAC filings 600 150 400 100 200 64% decline from 2022 peak 50 72% decline from 2021 peak 0 0 2019 Ju
Slide 9: Global MNCs and Local Pharmas Continue to Invest
PART 2 Global MNCs and Local Pharmas Continue to Invest www.tigermedgrp.com Confidential
Slide 10: China is Important both as an End Market and as a Source of Innovation
CRO Landscape MNC & Local Pharma Biotech China is Important both as an End Market and as a Source of Innovation China Market Represents Attractive Commercial Opportunities… …And Made More Attractive by Access to High Quality Assets Size of China’s innovative therapy market expected Most of global MN
Slide 11: MNC China Revenue Reached US$31.2bn in 2023
CRO Landscape MNC & Local Pharma Biotech MNC China Revenue Reached US$31.2bn in 2023 Millions USD Historical Revenue Projection Projected China revenue is calculated 8,000 by using Wall Street consensus company revenue projection multiplied by average China revenue as % of 7,000 company revenue in 2
Slide 12: MNC is an Important Contributor of Innovative Drug Clinical Trials in China
CRO Landscape MNC & Local Pharma Biotech MNC is an Important Contributor of Innovative Drug Clinical Trials in China MNC is the major payer of China clinical CRO market with 25-30% of total Phase III trials by number Phase II Phase III 632 Newly started innovative 152 drug clinical trials in China (
Slide 13: MNC is Using More Local CRO Service Providers in China
CRO Landscape MNC & Local Pharma Biotech MNC is Using More Local CRO Service Providers in China Rapid development of local Improvement of service Domestic CROs taking up market shares for MNC clinical trial industry quality from local clinical clinical operation projects in China CROs % China CRO's
Slide 14: Local Pharma has Delivered and is still Growing its R&D Efforts
CRO Landscape MNC & Local Pharma Biotech Local Pharma has Delivered and is still Growing its R&D Efforts China-Originated Innovative Drug Sales Ramp-up China Local Pharma R&D Spending Continues to Grow Billions RMB 15/122 China-originated innovative drugs reached US$100m+ sales in 2023 180 160 152.0
Slide 15: Local Pharma is Contributing More to Innovative Drug Trials in China
CRO Landscape MNC & Local Pharma Biotech Local Pharma is Contributing More to Innovative Drug Trials in China China local pharma (listed big pharma and emerging pharma) contributed 15-20% of total Phase III trials Phase II Phase III 632 Newly started innovative drug 94 clinical trials in China (15%)
Slide 16: Local Pharma Considerations for R&D and Clinical CRO Services
CRO Landscape MNC & Local Pharma Biotech Local Pharma Considerations for R&D and Clinical CRO Services More balanced and less riskier product portfolio (matured products vs innovative therapies) Generally ample cash at hand with good cash flows R&D investments to sustain growth, replace legacy portf
Slide 17: Adaptive Biotechs Stay as a Driving Force of Innovation
PART 3 Adaptive Biotechs Stay as a Driving Force of Innovation www.tigermedgrp.com Confidential
Slide 18: China Biotech is Exploring a New Paradigm for Adaptive Globalization
CRO Landscape MNC & Local Pharma Biotech China Biotech is Exploring a New Paradigm for Adaptive Globalization Funding Exiting Private Equity / Venture Capital IPO / M&A Still recalibrating amid new macro/policy environments IPO remains challenging near term but an early wave started for M&As Licensi
Slide 19: LegacyCo Hurt by Rapid Industry Development while New Generation Emerging
CRO Landscape MNC & Local Pharma Biotech LegacyCo Hurt by Rapid Industry Development while New Generation Emerging Legacy Companies Increasingly Challenging to Raise(1) Early-stage fundraising shows more TA diversifications 2023-2024(2) # of New Raises # of LegacyCo Raises LegacyCo % Cancer Autoimmu
Slide 20: The Rising Upfront Payment Provides a Key Alternative for China Biotechs to Access Capital
CRO Landscape MNC & Local Pharma Biotech The Rising Upfront Payment Provides a Key Alternative for China Biotechs to Access Capital… 51.5 Billions USD 40.7 26.2 PE/VC Fund Investment to China Biotechs 15.2 Upfront Payment to China Biotechs from Out- 12.1 Licensing Deals 7.8 4.9 7.3 Potential Total V
Slide 21: China Biotechs Received More Cash in 2023-2024 than 2020-2021
CRO Landscape MNC & Local Pharma Biotech China Biotechs Received More Cash in 2023-2024 than 2020-2021 Mainly Because of Licensing-out and M&As Transactions A significant increase of out-licensing deals of China- Assets-based transactions and M&As are likely to dominate originated innovative assets
Slide 22: Top China Biotech Licensing-Out Deals by Upfront Payment in 2024
CRO Landscape MNC & Local Pharma Biotech Top 20 China Biotech Licensing-Out Deals by Upfront Payment in 2024 Ranked by upfront payment Millions USD Within Tigermed Ecosystem Date Licensor Licensee Product Target/Modality Deal Value Upfront 2024-09-30 Regor Therapeutics Genentech next-generation CDK
Slide 23: Major M&A Deals of China Biotech & Biopharma in 2024
CRO Landscape MNC & Local Pharma Biotech Major M&A Deals of China Biotech & Biopharma in 2024 Chinese Biotech Acquired by Total Deal Value Business Values Key Assets Jan 2024 SanReno Novartis -- SanReno becomes an indirect, wholly- Atrasentan (ETA, SM) announced owned subsidiary of Novartis Zigakiba
Slide 24: NewCo Model Paves a New Path for China Assets to Go Global
CRO Landscape MNC & Local Pharma Biotech NewCo Model Paves a New Path for China Assets to Go Global Select NewCo deals from China Biotech & Pharma in 2024 May 2024 Jun 2024 Jul 2024 Aug 2024 Sep 2024 China originator Hengrui Allist Keymed Genor Biopharma EpimAb HRS9531 (Phase III) CM512 GB261 EMB-06
Slide 25: Overseas Clinical Trials Initiated by China Biotechs 2017-2024
CRO Landscape MNC & Local Pharma Biotech Overseas Clinical Trials Initiated by China Biotechs 2017-2024 Overseas clinical trials initiated by China biotechs (excluding COVID related projects) 262 1 Other 36 219 Phase IV 2 1 202 193 Phase III 31 3 180 4 Phase II 22 91 34 1 1 Phase I 155 17 2 59 131 4
Slide 26: Tigermed Strategy
PART 4 Tigermed Strategy www.tigermedgrp.com Confidential
Slide 27: Tigermed Strategies & Outlook for 2025 and Beyond
Tigermed Strategies & Outlook for 2025 and Beyond Build a higher moat on our core clinical and related services and improve our relative competitiveness Strategically strengthen our business relationship with MNCs and local pharmas in China Build closer ties with various stakeholders and actively pa
Slide 28: Hangzhou Tigermed Consulting Co., Ltd.
Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK Global Headquarters 18/F, Building A, Shengda Science Park, 19 Jugong Road, Binjiang District, Hangzhou, People’s Republic of China International Headquarters 1201, Harbour East, 218 Electric Rd, North Point, Hong Kong SAR www.tigermedgrp.co
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