Innovent Biologics

信达生物

1801.HKbiotechSuzhou

Trials 50

Subs 0

People 2

Links 6

Executive Summary

Innovent is Eli Lilly's primary China biotech partner, with multiple co-development agreements covering PD-1, bispecifics, and metabolic disease. The Lilly relationship — which includes a $1B+ obesity drug deal (mazdutide/IBI362) — gives Innovent unusual validation among Western BD teams. Innovent's domestic commercial portfolio includes sintilimab (TYVYT), China's second-approved PD-1, and the company has built one of the deepest clinical pipelines among Chinese biotechs with 30+ clinical-stage programs. HKEX-listed (1801.HK) with no SEC filings, making corporate structure less transparent than dual-listed peers.

Structure: Innovent is structured as a Hong Kong-listed entity (1801.HK) with operating subsidiaries in China, likely following a traditional holding company structure rather than VIE given the biotech nature. The straightforward corporate structure and Hong Kong listing should facilitate due diligence and deal execution for US partners.

Key People

Name	Title	Education	Flags
De-Chao Michael Yu 俞德超	Founder, Chairman & CEO	PhD, University of California, San Francisco; Postdoc, MIT
Michael Yu (De-Chao Yu)	Founder, Chairman & CEO	PhD, UCSF; Postdoc, MIT

Ownership & Shareholder Structure

—

Innovent Biologics → Takeda

deal_partner

Takeda-Innovent $10B+ deal (Oct 2025). IBI363 + IBI343. $1.2B upfront.

—

Innovent Biologics → Eli Lilly

deal_partner

Lilly-Innovent $1.4B+ long-running strategic collaboration.

—

Innovent Biologics → Akeso

competitor

Innovent and Akeso compete in PD-1/VEGF bispecific space. Innovent IBI363 vs Akeso ivonescimab.

—

Eli Lilly → Innovent Biologics

investor

Lilly holds strategic equity stake in Innovent from $100M investment alongside licensing deal.

—

Hengrui Medicine → Innovent Biologics

competitor

Both compete for China-to-West out-licensing. Hengrui (GSK deal) vs Innovent (Takeda deal).

—

Junshi Biosciences → Innovent Biologics

competitor

Both have PD-1 antibodies. Toripalimab vs sintilimab. Direct Chinese oncology market competition.

Corporate Events

RST

2025-10-15restructuring

Takeda-Innovent $4.6B licensing deal

Takeda paid $1.2B upfront for ex-China rights to IBI363 (PD-1/IL-2 bispecific). Total deal value up to $4.6B. Second-largest China biotech out-licensing deal after GSK-Hengrui.

BIOSECURE Impact: None — Innovent is a drug innovator, not a services company.

Clinical Trials(50 total)

Phase 3

Phase 2

Phase 1

EARLY_Phase 1

Phase 1, Phase 2

NCT ID	Interventions	Phase	Status	Enrollment
NCT07412262	Chidamide in combination with Ivonescimab	Ph.2	NOT YET RECRUITING	32
NCT07483554	IBI343,Gemcitabine, Albumin-bound Paclitaxel	Ph.2	NOT YET RECRUITING	389
NCT07352969	IBI3016, Placebo	Ph.2	NOT YET RECRUITING	352
NCT07327632	IBI3026	EARLY_Ph.1	RECRUITING	300
NCT07342725	IBI363 + chemotherapy	Ph.1, Ph.2	NOT YET RECRUITING	48
NCT07330934	Dupilumab, Placebo, IBI356	Ph.2	RECRUITING	403
NCT07255209	Placebo, IBI362	Ph.3	RECRUITING	180
NCT07295496	IBI3011, IBI3011 Placebo	Ph.1	RECRUITING	64
NCT07066098	IBI343, Placebo	Ph.3	RECRUITING	201
NCT07015762	IBI3002, Placebo	Ph.1	RECRUITING	9
NCT06884293	IBI362, semaglutide	Ph.3	RECRUITING	470
NCT06974812	IBI3014, IBI3014, IBI3014, IBI3014, IBI3014, IBI3014, IBI3014, IBI3014	Ph.1, Ph.2	RECRUITING	250
NCT06349408	IBI3001	Ph.1	RECRUITING	250
NCT06613009	IBI3009	Ph.1	RECRUITING	190
NCT06663306	Pemetrexed, Bevacizumab	Ph.1	RECRUITING	19
NCT06501586	SGB-3908, SGB-3908-Matching placebo	Ph.1	COMPLETED	40
NCT06501534	Febuxostat, IBI128	Ph.2	COMPLETED	84
NCT06396637	Sapropterin Dihydrochloride	Ph.2	RECRUITING	20
NCT06121505	low-dose radiation therapy and stereotactic body radiation therapy, chemotherapy, Sintilimab	Ph.2	RECRUITING	114
NCT06193434	IBI356 for MAD, Dupilumab for MAD, IBI356 for SAD, Placebo for SAD, Placebo for MAD	Ph.1	COMPLETED	99

Showing 20 of 50 trials

Drug Molecules (ChEMBL)

SINTILIMAB

Phase 3

AntibodyCHEMBL4297829

Top Publications (by citations)

Combination strategies with PD-1/PD-L1 blockade: current advances and future directions.

986 citationsMol Cancer2022

Yi M, Zheng X, Niu M, Zhu S, Ge H, Wu K.

Sintilimab plus a bevacizumab biosimilar (IBI305) versus sorafenib in unresectable hepatocellular carcinoma (ORIENT-32): a randomised, open-label, phase 2-3 study.

842 citationsLancet Oncol2021

Ren Z, Xu J, Bai Y, Xu A, Cang S, Du C, Li Q, Lu Y, Chen Y, Guo Y, Chen Z, Liu B, Jia W, Wu J, Wang J, Shao G, Zhang B, Shan Y, Meng Z, Wu J, Gu S, Yang W, Liu C, Shi X, Gao Z, Yin T, Cui J, Huang M, Xing B, Mao Y, Teng G, Qin Y, Wang J, Xia F, Yin G, Yang Y, Chen M, Wang Y, Zhou H, Fan J, ORIENT-32 study group.

Targeting HER2-positive breast cancer: advances and future directions.

703 citationsNat Rev Drug Discov2023

Swain SM, Shastry M, Hamilton E.

Pembrolizumab versus chemotherapy for microsatellite instability-high or mismatch repair-deficient metastatic colorectal cancer (KEYNOTE-177): final analysis of a randomised, open-label, phase 3 study.

668 citationsLancet Oncol2022

Diaz LA, Shiu KK, Kim TW, Jensen BV, Jensen LH, Punt C, Smith D, Garcia-Carbonero R, Benavides M, Gibbs P, de la Fourchardiere C, Rivera F, Elez E, Le DT, Yoshino T, Zhong WY, Fogelman D, Marinello P, Andre T, KEYNOTE-177 Investigators.

Recent advances in the development of protein-protein interactions modulators: mechanisms and clinical trials.

570 citationsSignal Transduct Target Ther2020

Lu H, Zhou Q, He J, Jiang Z, Peng C, Tong R, Shi J.

Tumor biomarkers for diagnosis, prognosis and targeted therapy.

343 citationsSignal Transduct Target Ther2024

Zhou Y, Tao L, Qiu J, Xu J, Yang X, Zhang Y, Tian X, Guan X, Cen X, Zhao Y.

Therapeutic targets and biomarkers of tumor immunotherapy: response versus non-response.

336 citationsSignal Transduct Target Ther2022

Wang DR, Wu XL, Sun YL.

Antibodies to watch in 2019.

324 citationsMAbs2019

Kaplon H, Reichert JM.

Sintilimab versus placebo in combination with chemotherapy as first line treatment for locally advanced or metastatic oesophageal squamous cell carcinoma (ORIENT-15): multicentre, randomised, double blind, phase 3 trial.

322 citationsBMJ2022

Lu Z, Wang J, Shu Y, Liu L, Kong L, Yang L, Wang B, Sun G, Ji Y, Cao G, Liu H, Cui T, Li N, Qiu W, Li G, Hou X, Luo H, Xue L, Zhang Y, Yue W, Liu Z, Wang X, Gao S, Pan Y, Galais MP, Zaanan A, Ma Z, Li H, Wang Y, Shen L, ORIENT-15 study group.

PD-1/PD-L1 Blockade Therapy in Advanced Non-Small-Cell Lung Cancer: Current Status and Future Directions.

304 citationsOncologist2019

Xia L, Liu Y, Wang Y.

BIOSECURE Risk

low

Company has clear BIOSECURE status and is not designated under BCC restrictions, making it accessible for US partnerships

Mitigation: No specific mitigation required given clear regulatory status

BD Intelligence

Pipeline Strength9/10

Deal Readiness9/10

Therapeutic Areas:

immuno-oncologyPD-1/PD-L1bispecific antibodies

Recent Deals: Just completed second-largest China biotech out-licensing deal with Takeda - $1.2B upfront for IBI363 (PD-1/IL-2 bispecific) with total value up to $4.6B, demonstrating both asset quality and deal execution capability

Approach: High priority target - approach with substantial deal proposals given their track record of large transactions and aggressive BD posture. Focus on global rights discussions given willingness to out-license at scale.

Red Flags

⚠Duplicate entries in provided data suggest potential data quality issues in source materials

Quick Facts

Key People: 2
Subsidiaries: 0
CDMO/CRO Subs: 0
Genomics Subs: 0
Direct BIOSECURE: 0
Corp Events: 1
Gov-Connected: 0
Clinical Trials: 50
Publications: 10
Drug Molecules: 1
Relationships: 6

Sources & Methodology

Clinical trials data: ClinicalTrials.gov API v2 (50 trials linked to this entity)

SEC BIOSECURE filings: EDGAR EFTS full-text search (850+ filings from 230 companies)

Publications: Europe PMC API (10 publications indexed)

Drug molecules: ChEMBL database (European Bioinformatics Institute)

Financial data: East Money (东方财富) datacenter API / CNINFO (巨潮资讯网)

Corporate structure: Company official filings, HKEX/SSE/SZSE disclosures

Executive profiles: Company official biographies, SEC filings, LinkedIn (where verified)

Data is collected from public sources and updated weekly. Corporate intelligence is verified by a native Mandarin-speaking analyst against Chinese-language primary sources including Tianyancha (天眼查), GSXT (国家企业信用信息公示系统), and CNINFO (巨潮资讯网). This is not financial or legal advice.