Innovent Biologics
Headquarters in Suzhou Industrial Park | |
Native name | 信达生物制药（苏州）有限公司 |
|---|---|
| Company type | Public |
| SEHK: 1801 | |
| Industry | Biopharmaceutical |
| Founded | November 28, 2011 |
| Founder | |
| Headquarters | Suzhou Industrial Park, Suzhou, Jiangsu, China |
Key people | Yu Dechao (Chairman & CEO) |
| Revenue | CN¥9.42 billion (2024) |
| CN¥−94.63 million (2024) | |
| Total assets | CN¥21.60 billion (2024) |
| Total equity | CN¥13.12 billion (2024) |
Number of employees | 5,659 (2024) |
| Website | www |
| Footnotes / references [1] | |
Innovent Biologics, Inc. (Innovent; Chinese: 信达生物制药; pinyin: Xìndá shēngwù zhìyào) is a publicly listed Chinese biopharmaceutical company that is headquartered in Suzhou, Jiangsu.
History
Innovent was founded in 2011 by Yu Dechao to focus on the development of a class of biotech drugs known as monoclonal antibodies. It received venture capital funding from Eli Lilly and Company and Fidelity Investments.[2] Other investors included China Life, Hillhouse Capital and Temasek.[3]
In March 2015, Innovent and Eli Lilly agreed to a deal that would pay $56 million upfront to Innovent to co-develop at least three experimental cancer drugs. Innovent would be paid more than $400 million if one of the Innovent drugs hit certain development and commercial goals.[2]
In October 2018, Innovent held its initial public offering and became a listed company on the Hong Kong Stock Exchange. The offering raised $421 million.[4]
In December 2018, Innovent's Sintilimab was approved in China. In 2020, Eli Lilly paid $200 million upfront and committed up to $825 million to gain ex-China rights to it. However, in December 2022, Eli Lilly terminated the deal due to Food and Drug Administration rejection.[5]
In June 2025, Innovent's Mazdutide was approved in China. It was the first Chinese company to win regulatory approval to sell a GLP-1 drug for weight loss and diabetes.[6][7] It partnered with JD Health to help distribute the drug.[7]
In August 2025, Sanofi stated it would invest $307.88 million in Innovent to jointly develop two cancer drugs in China.[8]
In October 2025, Takeda Pharmaceutical Company signed an $11.4 billion deal with Innovent to help accelerate the development of immuno-oncology and antibody-drug conjugate cancer therapies. The deal includes a $1.2 billion upfront payment from Takeda.[9]
In November 2025, it was announced that Innovent would become a member of the Hang Seng Index.[10]
See also
References
- ^ "2024 Annual Report" (PDF). HKEX.
- ^ a b Loftus, Peter (20 March 2015). "Lilly Joins With Chinese Biotech to Develop, Market Cancer Drugs". Wall Street Journal. ISSN 0099-9660. Retrieved 23 November 2025.
- ^ Gormley, Brian (29 November 2016). "Chinese Drug Developer Innovent Raises $260 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 23 November 2025.
- ^ Tse, Crystal (24 October 2018). "Innovent Biologics Raises $421 Million in Hong Kong IPO". Bloomberg News.
- ^ Liu, Angus (1 December 2022). "Eli Lilly dumps Innovent's PD-1 cancer drug after FDA rebuff". www.fiercepharma.com. Retrieved 23 November 2025.
- ^ Tong, Amber (30 June 2025). "First China Weight Loss Drug Rival to Novo, Lilly Emerges". Bloomberg News.
- ^ a b Ng, Eric (15 July 2025). "'China's Ozempic' pioneer inks deal with JD Health for online distribution". South China Morning Post. Retrieved 23 November 2025.
- ^ "China's Innovent Biologics secures over $300 million investment from Sanofi". Reuters. 5 August 2025.
- ^ "China's Innovent signs cancer therapy deal with Japan's Takeda". Reuters. 22 October 2025.
- ^ Zhang, Shidong (21 November 2025). "Innovent, first Chinese firm to market weight-loss drug, joins Hang Seng Index". South China Morning Post. Retrieved 23 November 2025.