Innovent Biologics, Inc. · HKEX:1801
Innovent Biologics — H1 2022 Earnings Presentation
42 slides from Innovent Biologics's earnings presentation, August 2022
Slide 1: Innovent 2022 Interim Results
Innovent 2022 Interim Results August, 2022
Slide 2: Disclaimer
Disclaimer This presentation includes forward-looking statements. All statements contained in this presentation other than statements of historical facts, including statements regarding future results of operations and financial position of Innovent Biologics (“Innovent” “we,” “us” or “our”), our bu
Slide 3: 2022 1H Business Review
2022 1H Business Review InnoOvent
Slide 4: Established Integrated Platform, Improving Business Model for Sustainable Growth
With Established Integrated Platform, Innovent Continues to Improve our Business Model to Achieve Sustainable Growth • In the past decade, Innovent has transformed from a biotech start-up to a leading biopharma company in China with an established integrated platform. 7 27 60,000L 27 6,000 Commercia
Slide 5: R&D: Achievements Have Laid Solid Foundation for Continuous Growth
R&D: Achievements Have Laid Solid Foundation for Continuous Growth Commercial TYVYT® BYVASDA® SULINNO® HALPRYZA® Pemazyre® Olverembatinib® CYRAMZA® + Commercial Platform Upgrade new approval REGULATORY APPROVALS PRELIMINARY EARLY STAGE DATA REGULATORY FILINGS − CYRAMZA ® (VEGFR2): 2L GC READOUT − IB
Slide 6: Commercial: Upgrade Commercial Model from 1.0 to 2.0
Commercial: Upgrade Commercial Model from 1.0 to 2.0 Upgrade and improve for Commercial 2.0 sustainable growth 2.0 Model (2022 ongoing) Restructured to BU-based organization structure for commercial team such as IO, VEGF, TKI, hematology and etc. Laid solid foundation for Optimize team’s resourc
Slide 7: Commercial: Better Positioned for Long-term Sustainable Growth
Commercial: Better Positioned for Long-term Sustainable Growth Annual Product Revenue (RMB) 2022 First Half 20.0 bn • Total product revenue increased by 10% from RMB1.85bn to RMB2.04bn In 5 years, we target to achieve • Continuously fast ramp-up of product sales volume despite significant drug annua
Slide 8: MNC Collaboration: Transformative Collaboration with Sanofi
MNC Collaboration: Transformative Collaboration with Sanofi to Accelerate Development and Access of Oncology Medicines A Creative Deal for Long-term Benefits and High Capital Efficiency Creative deal structure for truly long term benefits with high capital efficiency • No upfront and little mileston
Slide 9: MNC Collaboration: Expanded Strategic Partnership with Lilly
MNC Collaboration: Expanded Strategic Partnership with Lilly in Oncology in Commercialization of Multiple Late-Stage Products • Innovent and Eli Lilly have established long-term strategic partnership since 2015 • 5 collaboration deals in past seven years for different modalities and therapeutic area
Slide 10: Global Innovation is our Long-term Core Strategy
Global Innovation is our Long-term Core Strategy: Well Positions Innovent to Enter Next Stage Global Platform • Established global R&D platform in China and US/Europe: ~300 talents for Innovent Academy in China and US; ~1,000 experts for global clinical Innovent development UK subsidiary • More glob
Slide 11: R&D Achievements
R&D Achievements InnoOvent
Slide 12: R&D Milestones Achieved on Track in 2022YTD
R&D Milestones Achieved on Track in 2022YTD +4 +5 +6 +8 Regulatory NDA Key PoC New Assets Added in Pipeline Approvals Acceptances Readouts (First-in-Human / Collaborated) Pemazyre® IBI326 (BCMA CAR-T) IBI110 (LAG3) Phase 3 IBI126 (Tusamitamab, CEACM5 ADC) 2L mCCA (HK, Mainland China) R/R MM sqNSCLC,
Slide 13: Key R&D Progress Update – Oncology IBI-110
Key R&D Progress Update – Oncology IBI-110: Highly Potent LAG3 mAb to Synergize with Sintilimab IBI-110 Preliminary Phase 1b Data (2022 ASCO) Development Progress Phase Ib preliminary PoC data for sqNSCLC (ASCO 2022 #e21145) • One of the most advanced LAG3 programs • Data cutoff: Jan 20, 2022 - Over
Slide 14: Key R&D Progress Update – Oncology IBI-939
Key R&D Progress Update – Oncology IBI-939 : Preliminary Efficacy Signal in TPS>=50% NSCLC IBI-939: fully human IgG4 mAb targeting TIGIT Development Progress IBI-939 is fully human IgG4 mAb with high TIGIT binding affinity and • One of the few TIGIT programs with encouraging signal strong ligand blo
Slide 15: Key R&D Progress Update – Oncology IBI-322
Key R&D Progress Update – Oncology IBI-322 : Preliminary Efficacy Signal in Lymphoma IBI-322: fully human bispecific antibody targeting CD47/PD-L1 Development Progress IBI-322 is fully human bispecific antibody with synergic • Phase 1 studies ongoing inhibition of both CD47 and PD-L1 for anti-cancer
Slide 16: Key R&D Progress Update – Non-oncology IBI-362
Key R&D Progress Update – Non-oncology IBI-362: GLP-1/GCGR, Potentially the Best Molecule to Treat Obesity and Diabetes Obesity Ph2: 24-Week weight Loss 11.6% at dose regime 2-4-6 mg Development Progress Mean Body Weight Change at Week 24 Proportion of Participants Achieving Weight Loss Targets at W
Slide 17: Key R&D Progress Update – Non-Oncology IBI-112
Key R&D Progress Update – Non-Oncology IBI-112 : Long-dose interval and long-term efficacy as potential BIC IL23 IBI-112 MoA and Phase 2 data Long-dose interval with differentiated MoA Phase 2 for Psoriasis Efficacy: PASI 90 response rate (%) • The study results placebo 50mg q12w 100mg q12w 100mg q8
Slide 18: Key R&D Progress Update – Non-Oncology IBI-302
Key R&D Progress Update – Non-Oncology IBI-302 : Global First-in-Class with Potential Effect in Retinal Fibrosis IBI-302 For Long Term Vision Maintaining with Global Rights IBI-302: a bispecific fusion protein targeting VEGF and complement IBI-302 has the potential to improve visual acuity & retinal
Slide 19: 2022H2 Anticipated Development Milestones
Development Milestones in 2022 to early 2023 Regulatory Potential New Phase 3 Key PoC First-in-human Actions Regulatory Filings /Pivotal studies readouts assets 2022YTD Achieved • Pemazyre®: 2L mCCA • IBI326 (BCMA CAR-T) : R/R MM *Pivotal studies Ready to start in 2H • IBI110 (LAG3) : sqNSCLC, GC •
Slide 20: Financials and Summary
Financials and Summary InnoOvent
Slide 21: Income Statement (Non-IFRS measure)
Income Statement (Non-IFRS measure) Non-IFRS measure Six months ended 30 June RMB'million 2022 % 2021 % Revenue Revenue 2,239.6 100.0% 1,941.8 100.0% For the six months ended 30 June 2022, we generated total revenue of RMB 2,239.6 million, including RMB2,040.9 million Cost of sales (436.4) (19.5%)
Slide 22: Income Statement (IFRS measure)
Income Statement (IFRS measure) IFRS measure Six months ended 30 June Revenue RMB'million 2022 % 2021 % For the six months ended 30 June 2022, we generated total Revenue 2,239.6 100.0% 1,941.8 100.0% revenue of RMB 2,239.6 million, including RMB2,040.9 million Cost of sales (471.5) (21.1%) (216.9)
Slide 23: Balance Sheet
Balance Sheet IFRS-measure RMB'million 2022/6/30 2021/12/31 Cash balance Bank balances and cash 8,317.9 8,377.1 As at 30 June 2022, our total cash was RMB Other financial assets - 644.8 8,317.9 million (equivalent to US$1.2 billion） Trade receivables 1,186.6 968.4 Prepayments and other receivables
Slide 24: Key Takeaways
Key Takeaways • We have an established platform foundation, sustained strong execution and favorable financial position in the first decade of company development. • We have built an expanding robust pipeline and insist on the growth strategy of innovation and globalization. • Leveraging on the soli
Slide 25: Strategy and Outlook
Strategy and Outlook InnNOovent
Slide 26: A Clear Strategy to Become a World Class Biopharmaceutical Company
A Clear Strategy to Become a World Class Biopharmaceutical Company Continue expansion of Over a dozen of late stage pipeline commercial portfolio and Rmb 20bn sales potential for China late stage performance pipeline in 5 years Expand business to include PoC for four clusters of global assets
Slide 27: Well Planned Portfolio Pipeline for Accelerated Growth
Enriching Our Pipeline with New Platform Technologies and New Therapeutic Areas Solid foundation with de-risked, abundant 80+ Research Programs Well Planned Portfolio Pipeline for Accelerated Growth portfolio for early success Global FIC/BIC Well planned global portfolio for accelerated Assets with
Slide 28: ~RMB 20bn Upside Potential
Further Strengthening Commercial Portfolio With High Potential Assets and Proven Commercial Capabilities Fully-fledged Commercial Ecosystem + Validated Track Record + Rich and De-risked Portfolio = More Products into visibility : LAG3/CD47/TIGIT/VEGF Clusters and more from 80 pre-clinical projects…
Slide 29: Building Leading Commercial Franchise with Expanding Approved and Late-stage Portfolio
Building Leading Commercial Franchise with Expanding Approved and Late-stage Portfolio in Near Term Robust Late Stage Assets for Growth TA Target/Asset Product Status Indication PD-1 (sintilimab) TYVYT® Launched cHL Oncology/ Non-Oncology CD20 (rituximab) HALPRYZA® Launched NHL Hematology BCR/ABL (o
Slide 30: Full Speed for Global Development of Global Assets
Full Speed for Global Development of Global assets • With established global development platform and rich experience, Innovent is accelerating to bring more assets to global clinical trials in the near future. Increasing Global Rights and Enhanced global development 4 PoC clusters Global Potential
Slide 31: Internally Focus on 7 Major Research Taskforces
Internally Focus on 7 Major Research Taskforces to Deliver Global Potential Drugs With the goal to discover, develop and commercialize potential global blockbuster drugs by 2030, we have 80 research programs at pre-clinical stage supported by state-of-the-art protein and antibody engineering technol
Slide 32: BD Strategy is Complementary to Innovent's Globalization Strategy
BD Strategy is Complementary to Innovent’s Globalization Strategy Strengthen Technical Going From Domestic Strengthen Global Product Portfolio Core-Competency to Global Market Early/Mid Stage – GLOBAL RIGHTS Late Stage - CHINA RIGHTS GLOBAL FOOTPRINT GLOBAL R&D PLATFORMS Collaborate on China molecul
Slide 33: Company Overview
Company Overview InnNOovent
Slide 34: Transforming From a China Leading Biopharmaceutical Company to a Global Premier Player
Innovent: Transforming From a China Leading Biopharmaceutical Company to a Global Premier Player Fully Integrated Robust Pipeline in Both Biopharmaceutical Platform Oncology and Non-oncology World-class discovery, development, Robust pipeline across novel manufacturing and commercialization ther
Slide 35: Robust Pipeline Across Novel Therapeutics – Oncology
Robust Pipeline Across Novel Therapeutics – Oncology 6 approved, 2 NDA, 4 in pivotal trials and 13 assets in clinical stage Status Pivotal Phase Products Target (s) Modality Therapeutic Area Commercial Rights Pre-clinical IND Approved Phase 1 Phase 2 NDA Launched 2 / Phase 3 TYVYT® (sintilimab injec
Slide 36: Increasing Novelty of the mAb and bi-Abs
Building on Our Oncology Pipeline with Immuno-Oncology Focus Approved NDA or Pivotal Stage PD-1 (TYVYT) Sintilimab RET (selpercatinib) VEGF (BYVASDA) Bevacizumab biosimilar PoC Stage Increasing Novelty of the mAb and bi-Abs BCMA CART(IBI326) CD20 (HALPRYZA) Rituximab biosimilar LAG3 (IBI110) CTLA-4
Slide 37: Robust Pipeline Across Novel Therapeutics – Non-oncology Pipeline
Robust Pipeline Across Novel Therapeutics – Non-oncology Pipeline 1 approved, 1 NDA, 7 assets in clinical stage Status Pivotal Therapeutic Products Target (s) Modality Commercial Rights Pre-clinical IND Approved Phase 1 Phase 2 Phase 2 / NDA Launched Area Phase 3 SULINNO® (adalimumab injection) TNF-
Slide 38: Global R&D Structure with Expanding Footprint
Global R&D Structure with Expanding Footprint Innovent R&D • Chairman of the Department of Immunology; Founding Director of the Center for Cancer Immunology Research Led by Dr. Yongjun Liu of MD Anderson Cancer Center President, Innovent • Global Head of Research of Sanofi 1,500 R&D employees Innove
Slide 39: Fully-fledged Commercial Ecosystem with Validated Track Record
Fully-fledged Commercial Ecosystem with Validated Track Record Fully-fledged Commercial Ecosystem + National Coverage + Validated Track Record Annual Product Revenue Affordability Commercial City (RMB) Solutions Team Coverage 4.0 bn Patient ~3000 300+ Benefits +69.0% 2.4 bn Hospital DTP +133.0% Cove
Slide 40: State-of-the-art Manufacturing Facilities
State-of-the-art Manufacturing Facilities Designed to, Built with, and Operating at International Standards • Full CMC capability across process • Advanced CMC development capability Total capacity: 60,000 L development, manufacturing, quality, including perfusion, ADC and high supply chain and engi
Slide 41: Innovent is Your Preferred Partner in China
Innovent is Your Preferred Partner in China “from product development to commercial launch” Building Platforms Unlocking Value of Regional Pioneering MNC for the Future Best-in-class Partnering In-house R&D Partnerships Biotech Assets Most Comprehensive partnership with Lilly Establishing a world-cl
Slide 42: Long-Term Vision
Long-Term Vision Developing core competiveness 2030 based on strategic vision, global 2025 talent and strong execution • More commercialized • Expanded products, including 2022 commercialized first-in-class products in China blockbusters launched globally • Multiple products • 8 commercialized appro