Name

Mabwell Biotech

Legal name

Mabwell (Shanghai) Bioscience Co., Ltd. (迈威（上海）生物科技股份有限公司)

Website

https://mabwell.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Biopharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714), Pharmaceutical Preparation Manufacturing (325412), Pharmaceutical and Medicine Manufacturing (3254)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Monoclonal Antibody Therapeutics (mAbs) (HLAAAAAA)

akta.pro secondary industries

Bispecific & Multispecific Antibodies (HLAAAAAF), Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB), Monoclonal Antibody (mAb) Biosimilars (HLAAAHAA), Immunology & Autoimmune Specialty Pharmaceuticals (HLAIACAB), Immunology & Inflammation Pharmaceuticals (HLAIAAAD)

Keywords

• Antibody drug development
• Oncology biologics
• ADC therapeutics
• Biosimilar manufacturing
• Biopharmaceutical R&D

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Drug Product Sales (Commercialized Products): Sales revenue from 4 commercialized products: MAILISHENG (albipagrastim alfa / G-CSF), MAIWEIJIAN (denosumab biosimilar 120mg), MAILISHU (denosumab biosimilar 60mg), and JUNMAIKANG (adalimumab biosimilar). Recurring revenue from domestic China market and emerging markets via licensing partners.
2. International Out-licensing (License-out / NewCo): Upfront payments, milestone payments, and royalties from out-licensing novel drug candidates to international partners. Total deal value over US$1 billion including: DISC Medicine for 9MW3011 (up to US$412.5M), Calico Life Sciences for 9MW3811 (over US$600M), Aditum Bio/Kalexo Bio for 2MW7141, and Qilu Pharmaceutical for MAILISHENG in Greater China.
3. Emerging Market Commercialization Partnerships: Revenue from licensing and commercialization agreements with regional pharma partners in 33+ countries for denosumab biosimilars, adalimumab biosimilar, and aflibercept biosimilar across ASEAN, MENA, South Asia, Latin America and Africa. Includes upfront fees, milestone payments and supply/profit-sharing.
4. Biosimilar International Supply and Royalty: International supply of approved biosimilars with marketing authorization obtained in Pakistan and submitted in 8+ additional countries including Brazil, Saudi Arabia, Indonesia, Jordan, Egypt, Colombia, Ecuador, Morocco, Argentina, Thailand.

Go-to-market motion1 record

Core offering

Mabwell Biotech is an innovation-driven biopharmaceutical company that develops, manufactures, and commercializes therapeutic biologics across oncology, immunology, bone disorders, ophthalmology, hematology, and cardiovascular disease. Its portfolio comprises antibody-drug conjugates (ADCs), bispecific and trispecific antibodies, monoclonal antibodies, and biosimilars. The company has four commercialized products (MAILISHENG/albipagrastim alfa, MAIWEIJIAN/denosumab 120mg biosimilar, MAILISHU/denosumab 60mg biosimilar, JUNMAIKANG/adalimumab biosimilar) and 10+ clinical-stage candidates built on its proprietary IDDC™ ADC platform and T-cell Engager bispecific platform.

Product overview

Mabwell Bioscience (迈威生物, 688062.SH, 02493.HK) operates as an innovation-driven biopharmaceutical company with full industry chain integration covering R&D, manufacturing, and commercialization. The company's product portfolio spans 16 high-priority candidates across oncology, immunology, bone disorders, ophthalmology, hematology, and cardiovascular disease, with 4 products commercially launched (迈粒生®/MAILISHENG, 迈卫健®/MAIWEIJIAN, 迈利舒®/MAILISHU, 君迈康®/JUNMAIKANG), 1 in NDA review, and 2 in pivotal Phase III trials. The pipeline centers on the proprietary IDDC™ ADC platform powering the core Nectin-4 ADC candidate 9MW2821 (Bulumtatug Fuvedotin), complemented by B7-H3 ADC 7MW3711, CDH17 ADC 7MW4911, and Trop-2 ADC 9MW2921, alongside bispecific TCE platform assets like 6MW5311 and monoclonal antibodies including anti-ST2 9MW1911, anti-TMPRSS6 9MW3011, and anti-IL-11 9MW3811. Mabwell operates biopharmaceutical manufacturing facilities in Taizhou (Jiangsu) and Shanghai (Jinshan) compliant with China NMPA, U.S. FDA, and EU EMA GMP standards.

Differentiator

Problem solved

Functional benefit

Brands

• MAILISHENG (迈粒生): Mabwell's first commercialized Class 1 innovative drug — Albipagrastim alfa for Injection, the first domestically launched long-acting G-CSF developed with albumin fusion technology; indicated for febrile neutropenia. Licensed to Qilu Pharmaceutical in Greater China.
• MAIWEIJIAN (迈卫健)
• MAILISHU (迈利舒)
• JUNMAIKANG (君迈康)
• Myvision (迈威视)

Products and services

• MAILISHENG (迈粒生) - Albipagrastim alfa for Injection First Class 1 innovative drug commercially launched by Mabwell. First launched novel granulocyte colony-stimulating factor (G-CSF) developed with albumin long-acting fusion technology in China. Indicated to decrease the incidence of infection manifested by febrile neutropenia in adult patients with non-myeloid malignancies receiving myelosuppressive anti-cancer drugs. Uses Pichia pastoris expression system for production. Licensed to Qilu Pharmaceutical for Greater China.
• MAIWEIJIAN (迈卫健) - Denosumab Biosimilar 120mg (9MW0321) One of the first-tier approved biosimilars of Xgeva® (120mg) in China and the first approved denosumab biosimilar in Pakistan. Indicated for giant cell tumor of bone, bone metastases from solid tumors, and multiple myeloma. Works by binding RANKL to inhibit OPG/RANKL/RANK signaling pathway activation, suppressing tumor growth and reducing bone destruction.
• MAILISHU (迈利舒) - Denosumab Biosimilar 60mg (9MW0311) Second Prolia® biosimilar in China and first in Pakistan. Used to treat bone loss (osteoporosis) in postmenopausal women at high risk of fractures. Acts as a RANKL inhibitor to prevent osteoclastic-mediated bone resorption. Approved in China and Pakistan.
• JUNMAIKANG (君迈康) - Adalimumab Biosimilar (9MW0113) Recombinant humanized anti-TNF-α monoclonal antibody injection jointly developed with Junshi Biosciences. Approved by NMPA in China for 8 indications including rheumatoid arthritis, ankylosing spondylitis, psoriasis, Crohn's disease, uveitis, polyarticular juvenile idiopathic arthritis, pediatric plaque psoriasis, and pediatric Crohn's disease. Also approved in Indonesia as the first China-developed biosimilar to gain approval in that market.
• 9MW2821 (Bulumtatug Fuvedotin) - Nectin-4 ADC Next-generation Nectin-4 targeting antibody-drug conjugate independently developed by Mabwell using the IDDC™ platform. First clinical-stage Nectin-4 ADC candidate in China and first to publish clinical efficacy data in cervical, esophageal, and breast cancers. Currently in four pivotal Phase III trials for urothelial carcinoma, cervical cancer, triple-negative breast cancer, and esophageal cancer.
• 9MW1911 - Anti-ST2 Monoclonal Antibody Innovative humanized monoclonal antibody developed by Mabwell based on the B-lymphocyte screening platform. First anti-ST2 antibody developed by a Chinese company to enter clinical trials. Binds ST2 receptor with high affinity to block IL-33/ST2 signaling pathway, inhibiting inflammatory reactions. Indicated for chronic obstructive pulmonary disease (COPD), asthma, and atopic dermatitis. Phase IIa results showed >30% reduction in moderate-to-severe COPD exacerbations and >40% reduction in severe exacerbations.
• 9MW3011 (DISC-3405) - Anti-TMPRSS6 Monoclonal Antibody Anti-TMPRSS6 antibody developed by Mabwell's Innovation R&D Center in San Diego, U.S. First anti-TMPRSS6 antibody in China and top tier globally. Regulates iron homeostasis by upregulating hepcidin expression. Indications include polycythemia vera, β-thalassemia, and iron overload disorders. Granted FDA Fast Track Designation and Orphan Drug Designation. Licensed to DISC Medicine (NASDAQ: IRON) for all regions except Greater China and Southeast Asia for up to US$412.5 million in milestones.
• 9MW3811 - Anti-IL-11 Monoclonal Antibody Innovative humanized monoclonal antibody against IL-11 (Interleukin-11) developed for fibrosis and oncology. First anti-IL-11 antibody to enter clinical trial in China and top tier globally. First IL-11-targeting therapeutic to enter clinical stage for pathological scarring worldwide. Also targeting idiopathic pulmonary fibrosis (IPF). Approved to initiate clinical study in China, Australia, and US. Long half-life exceeding one month. Licensed exclusively to Calico Life Sciences (Alphabet) for all regions except Greater China.
• 7MW3711 - B7-H3 ADC Novel B7-H3 targeting antibody-drug conjugate developed by Mabwell using the IDDC™ platform. Composed of innovative antibody molecule, novel linker, and novel topoisomerase I inhibitor payload (Mtoxin™). Granted FDA Orphan Drug Designation for small cell lung cancer. Has potential applications in lung cancer, sarcoma, prostate cancer, head and neck cancer, and esophageal cancer. Phase II clinical trial ongoing.
• 7MW4911 - CDH17 ADC ADC targeting cadherin-17 (CDH17) developed using Mabwell's proprietary IDDC™ antibody conjugation technology platform. Integrates high-specificity CDH17 monoclonal antibody with fast internalization characteristics, novel cleavable linker, and proprietary DNA topoisomerase I inhibitor MF-6 payload designed to overcome multidrug resistance. Homogeneous drug loading (DAR=4 ratio >95%) with stable plasma. IND cleared by both FDA and NMPA for advanced solid tumors and advanced colorectal/gastrointestinal cancers.

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Recent moves11 records

Expansion highlights6 records

Broad incumbents

• AstraZeneca: Global biopharmaceutical company partnering with Daiichi Sankyo on ADC franchise (Enhertu, Datopotamab Deruxtecan). AstraZeneca's ADC commercial reach and global regulatory experience represent the competitive benchmark Mabwell's Nectin-4 ADC 9MW2821 must contend with in major oncology indications.
• Genmab: Global biotechnology company specializing in antibody therapeutics with proprietary DuoBody bispecific platform. Genmab's bispecific antibody technology and pipeline (including epcoritamab) are directly comparable to Mabwell's TCE bispecific platform approach and 6MW5311 program.
• Hansoh Pharmaceutical: Large Chinese innovative biopharmaceutical company with HKEX listing developing oncology, psychiatry, and infectious disease therapeutics. Hansoh operates a comparable full-industry-chain business model and competes for the same Chinese biopharma talent, capital, and commercial channels as Mabwell.
• BeiGene (BeOne Medicines): Large globally-operating Chinese biopharmaceutical company with HKEX and NASDAQ listings developing innovative oncology biologics including BRUKINSA (zanubrutinib). As a broad incumbent in the same Chinese innovative biopharma category, BeiGene's scale and global commercial infrastructure represent the standard Mabwell aspires to match.
• Daiichi Sankyo: Global pharmaceutical leader in antibody-drug conjugates, with DXd-ADC platform powering Enhertu (HER2) and Datopotamab Deruxtecan (Trop-2). Daiichi Sankyo/AstraZeneca represent the gold-standard ADC competitor that Mabwell's IDDC™ platform must differentiate against in oncology indications.

Direct peers

• Innovent Biologics: Leading Chinese innovative biopharmaceutical company developing oncology biologics including PD-1 inhibitors (sintilimab) and ADCs. Innovent operates a similar dual-listing model (HKEX, STAR Market) with comparable full-industry-chain R&D-to-commercialization structure and competes directly with Mabwell in China oncology biologics.
• Henlius: Chinese biopharmaceutical company focused on biosimilars and innovative oncology biologics with HKEX listing. Henlius launched multiple biosimilars (rituximab, trastuzumab, bevacizumab, adalimumab) similar to Mabwell's MAILISHU, MAIWEIJIAN, and JUNMAIKANG biosimilars, and operates a similar global emerging-market out-licensing model.
• Junshi Biosciences: Co-developer of Mabwell's JUNMAIKANG adalimumab biosimilar and fellow Shanghai-based innovative biopharmaceutical company. Junshi has a comparable pipeline of innovative monoclonal antibodies and bispecifics, and was co-founded by Mabwell's President of R&D Dr. Wu Hai, providing direct operational and pipeline overlap.
• Akeso: Chinese biopharmaceutical company specializing in bispecific antibodies (e.g., cadonilimab, ivonescimab) with HKEX listing. Akeso's T-cell engagers and bispecific antibody platform are directly comparable to Mabwell's TCE bispecific platform and 6MW5311 program.
• RemeGen: Chinese biopharmaceutical company with a directly comparable ADC and bispecific antibody pipeline. RemeGen's disitamab vedotin (RC48, Nectin-4 ADC) is the most direct competitor to Mabwell's 9MW2821, and RemeGen also operates in oncology biologics with self-developed ADC platform technology targeting similar indications (gastric, urothelial, breast).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors9 records

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M&A

Investments

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Frequently asked questions about Mabwell Biotech