Innovent Biologics
Innovent Biologics (信达生物制药) is a Suzhou-headquartered, Hong Kong-listed biopharmaceutical company developing and commercializing innovative biologics — monoclonal antibodies, ADCs, and bispecific antibodies — across oncology, metabolic disease, autoimmune disease, and ophthalmology, serving patients in China and partnering globally with Pfizer, Takeda, Eli Lilly, and others.
- Company typePublic
- Founded2011
- HeadquartersSuzhou, China
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Innovent Biologics does
Innovent Biologics (信达生物制药) is a Chinese biopharmaceutical company founded in 2011 and headquartered in Suzhou, publicly listed on the Hong Kong Stock Exchange (SEHK:1801) since 2018. The company develops, manufactures, and commercializes innovative biologic medicines — including monoclonal antibodies, antibody-drug conjugates (ADCs), bispecific and trispecific antibodies, and fusion proteins — across four therapeutic franchises: oncology, metabolic disease, autoimmune disease, and ophthalmology. Its commercialized portfolio includes the PD-1 inhibitor TYVYT (sintilimab), the GLP-1/GCG dual agonist Mazdutide for type 2 diabetes and obesity, China's first domestic anti-CTLA-4 antibody TABOSUN (ipilimumab), the BTK inhibitor Jaypirca (pirtobrutinib), and the VEGFR-TKI ELUNATE (fruquintinib).
The company's pipeline centers on three global Phase 3 assets — IBI363 (PD-1/IL-2α-bias bispecific fusion protein), IBI343 (world's first CLDN18.2 ADC), and IBI324/OLN324 (VEGF/Ang2 bispecific for ophthalmology) — targeting a combined addressable market of over US$60 billion. Technology differentiation rests on novel antibody engineering across ADC and multi-specific modalities, with manufacturing vertically integrated through subsidiary Altruist Biologics, which operates China's first NMPA-licensed large-scale (80,000L) biologics facility in Hangzhou with planned expansion to 172,000L.
Innovent operates a dual revenue model: direct sales to hospitals and healthcare providers in Greater China for approved products, complemented by licensing and milestone payments from strategic global pharma partners. Flagship collaborations with Pfizer (up to $10.5B), Takeda (up to $11.4B), and Eli Lilly (up to $8.85B), plus a 2022 equity investment and collaboration with Sanofi (€300M), collectively represent over US$22 billion in announced deal value, granting Innovent ex-Greater China rights to its partners while retaining domestic commercialization. The company achieved its first full year of IFRS profitability in FY2025 with RMB 814M net profit on RMB 13.0B (+38.4% YoY) revenue, and has stated a Vision 2030 target of RMB 20 billion in revenue by 2027.
Innovent Biologics firmographics
Firmographics- Name
- Innovent Biologics
- Legal name
- Innovent Biologics
- Website
- https://innoventbio.com
- Company type
- Public
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Innovent Biologics (信达生物制药) is a Suzhou-headquartered, Hong Kong-listed biopharmaceutical company developing and commercializing innovative biologics — monoclonal antibodies, ADCs, and bispecific antibodies — across oncology, metabolic disease, autoimmune disease, and ophthalmology, serving patients in China and partnering globally with Pfizer, Takeda, Eli Lilly, and others.
- Ownership category
- akta.pro rank
Innovent Biologics industry classification
Industry- Product category
- Biopharmaceuticals
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412), Research and Development in Biotechnology (except Nanobiotechnology) (541714)
- SIC
- Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)
- akta.pro primary industry
- Drug Substance–Drug Product Integrated CDMO (HLAGABAG)
- akta.pro secondary industries
- Biologics (mAbs/Recombinant Proteins) CDMO (HLAGABAC), Immunology & Autoimmune Specialty Pharmaceuticals (HLAIACAB), Immunology & Inflammation Pharmaceuticals (HLAIAAAD)
Keywords
Where Innovent Biologics is headquartered
LocationHeadquarters
- HQ city
- Suzhou
- HQ country
- China
- HQ region
- Asia
Offices2 records
Markets served
Innovent Biologics business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Supply Chain, Infrastructure, Marketing or Sales, Operations
Revenue model
- Product Sales (China): Revenue from commercialized products in China including TYVYT (sintilimab), Mazdutide, TABOSUN, Jaypirca, and other approved drugs sold through direct commercial infrastructure
- Licensing and Milestone Payments: Upfront payments, development milestones, regulatory milestones, and commercial milestones from partners including Pfizer ($650M upfront + $9.85B milestones), Takeda ($1.2B upfront + $10.2B milestones), and Eli Lilly ($350M upfront + $8.5B milestones)
- CDMO Services (Altruist): Contract development and manufacturing services provided by subsidiary Altruist Biologics to pharmaceutical companies globally
- Co-commercialization Revenue: Profit sharing and co-commercialization revenues from partnerships where Innovent retains Greater China rights while partners commercialize outside Greater China
Go-to-market motion3 records
Distribution channels3 records
Marketing channels4 records
Innovent Biologics product offering
Product offeringCore offering
Innovent Biologics develops, manufactures, and commercializes innovative biologic medicines — including monoclonal antibodies, antibody-drug conjugates (ADCs), bispecific and trispecific antibodies, and fusion proteins — for the treatment of cancer, metabolic diseases (type 2 diabetes and obesity), autoimmune diseases, and ophthalmology conditions. The company generates revenue through direct sales of approved drugs in Greater China and through licensing, milestone, and co-development deals with global pharmaceutical partners, supplemented by biologics CDMO services from its Altruist Biologics subsidiary.
Product overview
Innovent Biologics is a Chinese biopharmaceutical company that develops, manufactures, and commercializes innovative medicines across oncology, immunology, ophthalmology, metabolic diseases, and other therapeutic areas. The company's portfolio includes marketed products such as TYVYT (sintilimab), ELUNATE (fruquintinib), TABOSUN (ipilimumab), Jaypirca (pirtobrutinib), and Mazdutide, alongside a robust pipeline of clinical-stage candidates including IBI363 (PD-1/IL-2 bispecific), IBI343 (CLDN18.2 ADC), IBI302 (anti-VEGF for ophthalmology), IBI3003 (tri-specific antibody), and IBI324 (VEGF/Ang2 bispecific). The company operates through a combination of proprietary development and global partnerships with major pharmaceutical companies including Pfizer, Takeda, Eli Lilly, and Sanofi. Its CDMO subsidiary Altruist Biologics provides contract manufacturing services.
Differentiator
Problem solved
Functional benefit
Brands
- Altruist Biologics: Contract development and manufacturing organization (CDMO) subsidiary of Innovent Biologics providing biologics manufacturing services
Products and services
- TYVYT (sintilimab injection) PD-1 inhibitor monoclonal antibody approved in China for multiple oncology indications including lung cancer, liver cancer, lymphoma, colorectal cancer, and renal cell carcinoma (in combination with ELUNATE). Sintilimab's 10th approved indication was granted in May 2026 for second-line renal cell carcinoma.
- ELUNATE (fruquintinib) VEGFR tyrosine kinase inhibitor approved in China for combination therapy with sintilimab for second-line treatment of locally advanced or metastatic renal cell carcinoma, based on the FRUSICA-2 Phase 3 trial demonstrating 63% reduction in risk of disease progression or death.
- TABOSUN (Ipilimumab N01 Injection) China's first domestically developed anti-CTLA-4 monoclonal antibody, approved in combination with TYVYT for neoadjuvant treatment of certain colon cancer patients, representing the world's first dual-IO regimen approved for this indication.
- Jaypirca (pirtobrutinib) Non-covalent BTK inhibitor developed by Eli Lilly, approved in China for adult patients with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma after prior BTK inhibitor therapy, based on Phase 3 BRUIN CLL-321 results.
- Mazdutide GLP-1/GCG dual receptor agonist for treating type 2 diabetes and obesity, with Phase 3 results published in Nature. Phase 1 results showed 10.11% body weight reduction over 4 weeks. Co-developed with Eli Lilly.
- Altruist Biologics CDMO Services Contract development and manufacturing organization services for biologics, operated through a 20,000-liter scale manufacturing facility in Hangzhou (the first in China to receive this NMPA certification). Plans to expand to 172,000 liters of total bioreactor capacity. Services are provided to pharmaceutical and biotech clients globally including the US, Europe, and China, leveraging the Altru-CON high-concentration formulation platform (up to 200 mg/mL, IND timelines under nine months).
Quantifiable outcome
- 38.4% year-over-year revenue growth to RMB 13.0 billion in 2025
- +5 more outcomes
Companies that use Innovent Biologics
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles3 records
Innovent Biologics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Innovent Biologics partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered flagship, major, minor and core.
- PfizerflagshipGlobal strategic licensing and collaboration agreement worth up to $10.5 billion to develop 12 early-stage cancer medicines including antibody-drug conjugates and multi-specific antibodies. Innovent receives $650 million upfront with up to $9.85 billion in milestones. Companies co-develop and co-commercialize in US and Europe while Innovent retains Greater China rights. Deal expected to close in Q3 2026 pending regulatory approvals.
- HUTCHMEDmajorJoint development and co-commercialization partnership for ELUNATE (fruquintinib) and TYVYT (sintilimab) combination therapy. NMPA approved the combination for second-line treatment of locally advanced or metastatic renal cell carcinoma based on FRUSICA-2 Phase 3 trial showing 63% reduction in risk of disease progression or death.
- Fangzhou Inc.minorStrategic partnership for AI-powered chronic disease management ecosystem. Fangzhou reported deepened collaboration with Innovent as part of its platform expansion alongside partnerships with Novo Nordisk and others.
- Nuvation BiocoreInnovent markets IBTROZI (taletrectinib) in China, an FDA-approved therapy for ROS1-positive non-small cell lung cancer. Nuvation Bio markets in US, Nippon Kayaku in Japan, and Eisai pursuing EMA authorization in Europe.
- Eli LillyflagshipSeventh partnership worth up to $8.5 billion ($350 million upfront plus up to $8.5 billion in milestones) for novel oncology and immunology medicines. Innovent leads development from concept through Phase 2 in China; Lilly gains exclusive rights outside Greater China. This collaboration marks a shift from traditional licensing to joint development model.
- Ollin BiosciencesmajorPartnership for IBI324 (OLN324), a next-generation VEGF/Ang2 bispecific antibody for diabetic macular edema and wet AMD. Ollin completed $330 million Series B financing to advance global Phase 3 development. OLN324 demonstrated superior retinal drying versus Vabysmo in head-to-head Phase 1b study.
- Takedaflagship$1.2 billion upfront payment plus up to $10.2 billion in milestones for co-development and commercialization of IBI363 and IBI343 outside Greater China. Takeda holds exclusive rights outside Greater China with options for early-stage programs. IBI363 is a PD-1/IL-2 bispecific for lung, colorectal, gastric, and pancreatic cancers; IBI343 is a CLDN18.2 ADC for gastric cancer.
- Sanofimajor€300 million investment and strategic collaboration for co-development of two oncology drugs in China with milestone payments and royalties. Sanofi invested over $300 million through an all-cash deal at a 29% premium.
- LG Chemmajor2022 strategic collaboration for IBI128 (tigulixostat), a xanthine oxidase inhibitor for gout treatment. Innovent in-licensed exclusive rights for Chinese market. Phase 2 showed 81% sUA compliance rate vs febuxostat. Phase 3 trial initiated in 2026.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
Innovent Biologics competitors and assessment
Company assessmentDirect peers
- BeiGene: Chinese-founded biopharmaceutical company developing and commercializing innovative oncology medicines globally. Most direct comparable as another China-headquartered biotech with PD-1 inhibitor (tislelizumab), ADCs, and global commercialization footprint through partnerships.
- Junshi Biosciences: Chinese biotech with overlapping oncology pipeline including toripalimab (PD-1) and bispecific antibodies. Direct competitor in the Chinese PD-1/immuno-oncology space with similar pipeline depth.
- Akeso: Chinese biotech focused on bispecific antibodies (PD-1/VEGF cadonilimab, PD-1/CTLA-4). Highly comparable pipeline composition with Innovent's focus on novel antibody modalities for oncology.
- Hengrui Pharmaceuticals: Largest Chinese innovative pharma with broad oncology pipeline including camrelizumab (PD-1) and ADCs. Comparable scale, domestic commercialization, and pipeline breadth though more diversified across therapeutic areas.
- WuXi Biologics: China-based biologics CDMO and developer. Directly comparable through Altruist Biologics' CDMO business with overlapping services platform for antibody development and manufacturing.
Emerging players
- Cstone Pharmaceuticals: Chinese oncology-focused biotech with PD-L1 inhibitor (sugemalimab) and precision medicine pipeline. Smaller scale with narrower therapeutic focus but overlapping modalities.
Regional players
- Hansoh Pharmaceutical: Major Chinese pharma with oncology and CNS pipeline including innovative biologics. Comparable scale and China-focused commercialization though with stronger generic business mix.
Broad incumbents
- Eli Lilly: Global pharmaceutical partner with overlapping pipeline in oncology and immunology (including competing GLP-1 tirzepatide). Strategic partner for IBI363/IBI343 outside Greater China and recent $8.85B oncology/immunology deal.
- Pfizer: Global pharmaceutical company and $10.5B strategic partner covering 12 ADC and multi-specific antibody programs. Represents the strategic partner archetype for global commercialization.
- Merck & Co. Owns Keytruda (pembrolizumab), the global PD-1 standard-setter and indirect competitor to Innovent's TYVYT/sintilimab. Sets pricing and treatment paradigm benchmarks affecting Innovent's oncology competitive positioning.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Innovent Biologics social profiles
Digital presenceInnovent Biologics financial estimates
Financial estimateRevenue estimate
Valuation estimate
Innovent Biologics leadership team
Management profileNumber of profiles
Profiles6 records
Innovent Biologics subsidiaries and ownership
Company hierarchySubsidiaries1 record
Innovent Biologics funding detail
Funding detailFunding overview
Funding rounds8 records
Investors20 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Innovent Biologics M&A and investment
M&A and investmentM&A
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Innovent Biologics
What does Innovent Biologics do?
Innovent Biologics develops, manufactures, and commercializes innovative biologic medicines — including monoclonal antibodies, antibody-drug conjugates (ADCs), bispecific and trispecific antibodies, and fusion proteins — for the treatment of cancer, metabolic diseases (type 2 diabetes and obesity), autoimmune diseases, and ophthalmology conditions. The company generates revenue through direct sales of approved drugs in Greater China and through licensing, milestone, and co-development deals with global pharmaceutical partners, supplemented by biologics CDMO services from its Altruist Biologics subsidiary.
Is Innovent Biologics a public or private company?
Innovent Biologics is a public company. It is classified as public and is currently operating.
When was Innovent Biologics founded?
Innovent Biologics was founded in 2011. It employs 5,001 to 10,000 people.
Where is Innovent Biologics based?
Innovent Biologics is headquartered in Suzhou, China, in the Asia region.
How does Innovent Biologics make money?
Four revenue lines are on record. Product Sales (China) is the primary driver. The others are licensing and Milestone Payments, CDMO Services (Altruist) and co-commercialization Revenue.
Who are Innovent Biologics's main competitors?
Direct peers on record are BeiGene, Junshi Biosciences, Akeso, Hengrui Pharmaceuticals and WuXi Biologics. Cstone Pharmaceuticals is listed as an emerging player. Hansoh Pharmaceutical is listed as a regional player. Broad incumbents are Eli Lilly, Pfizer and Merck & Co..
Does Innovent Biologics have an API?
No public API is recorded for Innovent Biologics.
What industry is Innovent Biologics in?
Innovent Biologics's product category is Biopharmaceuticals. Its primary akta.pro industry code is HLAGABAG, Drug Substance–Drug Product Integrated CDMO, with a secondary code of HLAGABAC, Biologics (mAbs/Recombinant Proteins) CDMO. Its NAICS code is 325414 and its SIC code is 2836.