On August 15th, Granges bio-B (02509.HK) announced that the group's revenue for the six months ended June 30, 2024 was RMB 449.2 million, which was the authorization fee income and R&D service fee income from QX008N and QX004N authorized trades, demonstrating the group's strong R&D capabilities.
As of July 31, 2024, the company held 43 patents in China, including 34 invention patents and 9 utility model patents, as well as 9 patents overseas. As of the same day, the company had 46 patent applications pending approval in China and overseas. For the six months ended June 30, 2024, the company's total R&D cost was approximately RMB 145.23 million.
As of July 31, 2024, the company has two core products, QX002N and QX005N, which are self-developed. QX002N is an IL-17A inhibitor, and the company is conducting Phase III clinical trials in China for the treatment of ankylosing spondylitis (AS). QX005N is a monoclonal antibody (mAb) that blocks IL-4Rα. In May 2024, the company completed the first subject enrollment of Phase III clinical trials of QX005N for the treatment of atopic dermatitis (AD) and nodular prurigo (PN) in China. In addition to core products, the company has seven other pipeline candidate drugs, including QX001S, an IL-12/IL-23p40 inhibitor for the treatment of psoriasis (Ps), which is expected to be approved in the fourth quarter of 2024 and may become the first ustekinumab biosimilar in China. QX013N is a humanized IgG1 monoclonal antibody developed by the company, and has obtained IND permission for the treatment of chronic spontaneous urticaria (CSU) in China in May and June 2024, and initiated Phase Ia clinical trials. QX013N is the first candidate biological drug targeting the c-kit target in China. The company's product pipeline covers four main areas of autoimmune and allergic diseases, namely skin, rheumatology, respiratory and digestive diseases.
Looking to the future, the company plans to implement the following strategies, which it believes will further strengthen the company's core competitive advantages and enable it to seize the growing business opportunities: building a leadership position in dermatology, promoting other pipeline candidates, strategically expanding the pipeline; continuously optimizing the CMC quality management system and improving production efficiency, and enhancing capacity utilization; conducting commercial cooperation with well-known pharmaceutical companies; seeking overseas expansion opportunities; and continuously recruiting and developing talent.