Zhixin Finance App reported that China Antibody-B (03681) released its performance for the six months ended June 30, 2024, with revenue of CNY 2.026 million, a YoY growth of 48.4%; gross profit of CNY 0.543 million, a YoY growth of 28.7%; research and development costs of CNY 55.035 million, a YoY decrease of 17.6%.

Since its establishment, the company has always adhered to the concept of promoting innovation, developed and developed innovative drugs of the same kind, focused on innovative treatments for immune diseases, and consolidated the company's leadership in the industry. At present, the company is at the starting point of the new era of biotechnology 3.0, and may re-focus on the development of drugs for infectious diseases, such as age-related diseases, autoimmune diseases, and mental health disorders. Breaking through new areas of drug discovery has always been the company's research goal. The company aims to improve the immunogenic characteristics of therapies by innovating new mechanisms of action and new models, and to reduce the burden caused by complex manufacturing processes and long treatment times, creating real therapeutic progress. The company will adhere to its vision and develop breakthrough therapies for the benefit of patients and communities.

In the first half of 2024, the company's flagship product Suciraslimab (SM03), a global first-in-class anti-CD22 monoclonal antibody developed by the company for the treatment of RA, is at the final stage of review by the National Medical Products Administration, including two required clinical site inspections requested by the National Medical Products Administration completed in January of this year and a GMP inspection at the Haikou production base. Suciraslimab is expected to become the company's first commercial drug. The ongoing phase III extension trial continues to demonstrate the long-lasting efficacy of Suciraslimab, with an increasing response rate over time, indicating that the use of Suciraslimab has long-term and sustainable benefits compared to the use of traditional biological preparations, which tends to develop resistance over time. The company looks forward to Suciraslimab leading the company into the next chapter of drug innovation journey.

At the same time, the company has made significant progress in the development of its main product SM17, a humanized monoclonal antibody targeting the interleukin-25 (IL-25) receptor, with potential in the treatment of AD, asthma, idiopathic pulmonary fibrosis (IPF), and other immune diseases. During the reporting period, the company obtained the clinical report of the first phase I human clinical trial of SM17 conducted in the United States in the first quarter of 2024, and completed the healthy subject bridging study in May 2024 in China. Both showed good safety, indicating better safety and tolerability than JAK1 inhibitors. On April 9, 2024, the preclinical study results of SM17 were published in the official journal of the European Academy of Allergy and Clinical Immunology (EAACI) Allergy, showing that SM17 is equally effective as JAK1 inhibitors in treating mouse AD. The company also launched a phase I b concept validation study in China, and the first patient was successfully dosed on June 5, 2024 to verify the preclinical study results of SM17. The phase I b clinical trial aims to explore the preliminary efficacy of SM17 in AD patients, and study its safety, tolerability and PK characteristics. The potential and R&D plans of SM17 in the field of AD treatment have also been recognized by the Hong Kong Science and Technology Park Corporation, and in December 2023, the company was granted HKD 6.5 million in funding from the Hong Kong Science and Technology Park Corporation for SM17's clinical trial for AD, which will be fully used for this purpose.