Unleashing Triumph: Akeso’s 2023 Interim Results Soar with Phenomenal Growth
HONG KONG, Aug. 29, 2023 /PRNewswire/ — Brace for Impact: Akeso (9926. HK) is rewriting the rules of success as it reveals its 2023 interim performance. The journey has been nothing short of extraordinary – from skyrocketing revenues to pioneering breakthroughs in drug development and global reach.
Witness the transformation: During this reporting period, Akeso’s revenue skyrocketed by an astonishing 2,154.4%, totaling RMB3,676.9 million. But that’s not all. Profits surged to an impressive RMB2,489.5 million, marking the company’s first-ever financial victory.
Hold onto your seats as Akeso unveils its strategic prowess: RMB2,915.2 million was welcomed into the fold as license fee income. This monumental boost resulted from a visionary out-licensing agreement with Summit Therapeutics Inc. for Akeso’s PD-1/VEGF bispecific antibody (ivonescimab), leading to an upfront payment equivalent to a staggering US$500 million.
The pulse of innovation continues with product sales climbing to RMB794.7 million, showcasing Akeso’s unwavering commitment to making a tangible difference in the lives of patients.
The spotlight now turns to Akeso’s groundbreaking endeavors. The New Drug Application (NDA) of ivonescimab, the PD-1/VEGF bispecific antibody, has been accepted and granted a coveted priority review by China NMPA. Akeso’s prowess extends further, with two NDAs accepted for non-oncology segment products. Enter ebronucimab, a PCSK9 monoclonal antibody, destined to redefine the treatment landscape for hypercholesterolemia. And don’t forget ebdarokimab, an IL-12/IL-23 monoclonal antibody poised to transform the world of moderate-to-severe plaque psoriasis.
Akeso’s story is far from over. With 13 Phase III clinical trials in the works for 4 groundbreaking products and a trio of approved drugs, the journey toward excellence continues. Akeso is not just a company – it’s a symphony of innovation, progress, and reimagining what’s possible in the realm of healthcare.
Unveiling Triumphs: Akeso’s Thrilling Advances in Cutting-Edge Therapies
Behold the power of progress: Akeso’s journey continues with remarkable strides in the realm of clinical excellence.
The final chapter has closed on the registrational Phase III clinical trials of cadonilimab, the groundbreaking PD-1/CTLA-4 bispecific antibody. This marvel promises a new dawn for advanced cervical cancer and gastric/gastroesophageal junction (G/GEJ) adenocarcinoma treatment.
And that’s not all—imagine the curtain rising on the Phase III clinical trial of cadonilimab for the adjuvant treatment of hepatocellular carcinoma. The stage is set for an efficient exploration of new possibilities in this pivotal area.
But the tale doesn’t end here. Akeso’s journey into the heart of clinical development continues, with lung cancer, pancreatic cancer, esophageal squamous cancer, and other major tumors under the spotlight. The pursuit of excellence is a symphony, each note a step toward rewriting the rules of what’s possible.
In this symphony of progress, Investigator Initiated Trials (IITs) play a vital role. Picture more than 40 IITs in full swing, propelling cadonilimab into new realms of potential.
Akeso’s story is a testament to innovation’s triumphs—a story where each chapter marks a leap forward, a promise of brighter tomorrows for patients everywhere.
Charting a Remarkable Path: Akeso’s Monumental Strides in the World of Biotech Innovation
Step into the realm of groundbreaking innovation and clinical mastery, where Akeso (9926. HK) reigns as a beacon of brilliance. Dr. Michelle Xia, the visionary founder, Chairwoman, CEO, and President, paints a vivid tapestry of the company’s journey – a journey marked by ten years of relentless pursuit, unwavering dedication, and a transformative impact on healthcare.
A Symphony of Achievements: The first half of 2023 unfurled as a resounding triumph. The financial horizon radiated with unprecedented brilliance, reflecting Akeso’s unwavering commitment to commercializing new drugs, advancing clinical development, and fostering operational excellence. It’s a story where challenges met innovation, where complexity met strategic prowess, and where progress defied the odds.
Gaze upon the Luminary: Ivonescimab, the PD-1/VEGF bispecific antibody, stands as a beacon of Akeso’s prowess. It’s a testament to their unyielding belief in the marriage of clinical value and transformative potential. With an NDA accepted and priority review granted by China’s National Medical Products Administration (NMPA), the stage is set for a new era in cancer treatment.
Global Trailblazing: The symphony continues with 4 Phase III clinical trials spreading their wings across the globe. From first-line treatment for NSCLC to metastatic squamous NSCLC, Akeso’s clinical strides promise new vistas in patient care.
Unveiling Tomorrow: Akeso’s commitment to innovation knows no bounds. Beyond the horizon, AK129 (PD-1/LAG-3 bispecific antibody) and AK130 (TIGIT/TGF-β bispecific antibody) have already embarked on the clinical journey. AK131 (PD-1/CD73 bispecific antibody) and AK132 (Claudin18.2/CD47 bispecific antibody) stand ready to follow suit. The excitement only grows as a fleet of ADC drugs prepares to enter clinical trials.
Building the Future: Dr. Michelle Xia’s words resonate as a testament to Akeso’s ethos. The company’s journey has been one of resilience, response to change, and unwavering dedication to translating innovation into global value. With a spirit undaunted by challenges, Akeso stands on the brink of a new phase, a future marked by growth, sustainability, and an unshakable commitment to delivering clinical excellence to patients worldwide.
This is more than a biotech journey; it’s a symphony of brilliance, where innovation harmonizes with impact, all orchestrated by the visionaries at Akeso.