What Biokin Pharmaceutical does

Biokin Pharmaceutical (Sichuan Baili Tianheng Pharmaceutical Co., Ltd.) is an integrated biopharmaceutical company founded in 1996 by Dr. Zhu Yi and headquartered in Chengdu, China, listed on the Shanghai Stock Exchange STAR Market (688506) since January 2023. The company operates a dual-engine model combining a generic drug and traditional Chinese medicine portfolio (anesthesia, parenteral nutrition, anti-infectives, pediatrics) with a globally leading innovative biologics pipeline focused on oncology. Its core technology platforms include the HIRE-ADC platform for bispecific antibody-drug conjugates, the GNC platform for quad-specific antibodies, the SEBA platform for enhanced bispecific antibodies, and the HIRE-ARC platform for radiopharmaceuticals, supported by 91 granted invention patents and 400+ patent applications across 16 countries. The company's lead asset, izalontamab brengitecan (iza-bren/BL-B01D1), is the world's first approved bispecific ADC, approved by China's NMPA in June 2026 for nasopharyngeal carcinoma, with additional NDAs accepted for esophageal squamous cell carcinoma and triple-negative breast cancer.

The business model combines multiple revenue streams: domestic commercialization through 8 specialized marketing divisions distributing to approximately 700 hospitals and pharmacies across 30 provinces; generic drug sales through China's National Volume-Based Procurement and National Medical Insurance Catalog; licensing income from a December 2023 strategic collaboration with Bristol Myers Squibb worth up to $8.4 billion ($800M upfront, up to $500M near-term, up to $7.1B in milestones) for ex-China rights to iza-bren, where SystImmune retains exclusive Mainland China rights and manufactures drug supply for global markets; and royalties on net sales outside the US and China. The company employs 1,001–5,000 people across research, clinical development, manufacturing (four cGMP production bases in Chengdu and Leshan), and commercial operations, with dual R&D hubs in Redmond, Washington (SystImmune) and Chengdu (Baili-Bio/Baili Pharmaceutical). Customer segments span oncology tertiary hospitals in China for innovative biologics adoption, broader hospital networks for generics, and global oncology markets accessed through the BMS partnership.

Name

Biokin Pharmaceutical

Legal name

四川百利天恒药业股份有限公司

Website

http://www.baili-pharm.com/

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Biokin Pharmaceutical is a Chengdu-based integrated biopharmaceutical company developing first-in-class oncology biologics (bispecific ADCs, quad-specific antibodies, radiopharmaceuticals) alongside a generic drug portfolio, with the world's first approved bispecific ADC (iza-bren) commercialized in China and global rights partnered to Bristol Myers Squibb in a deal worth up to $8.4 billion.

Ownership category

akta.pro rank

Product category

Oncology 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

Oncology & Hematology Pharmaceuticals (HLAIAAAC)

akta.pro secondary industry

Biologic API/Drug Substance Manufacturing Services (HLAAAKAA)

Keywords

• Innovative oncology biologics
• Antibody-drug conjugates
• Bispecific antibodies
• Generic pharmaceuticals
• Radiopharmaceutical therapies

Headquarters

HQ city

Chengdu

HQ country

China

HQ region

Asia

Offices7 records

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. Global commercialization of innovative biologics: Revenue generated from the global commercialization of novel biologics including the EGFR×HER3 bispecific ADC iza-bren (宜泽康®/BL-B01D1), which received NMPA approval in June 2026 for nasopharyngeal carcinoma and was commercially launched in China with nationwide distribution to ~700 hospitals and pharmacies.
2. BMS partnership milestone payments: Upfront payment of $800 million received from Bristol Myers Squibb (BMS) in March 2024, up to $500 million in near-term contingent payments, and up to $7.1 billion in additional development, regulatory, and sales milestones, with a total potential deal value of $8.4 billion. BMS also pays royalties on net sales in China and SystImmune receives tiered royalties on net sales outside the US and China.
3. Generic and traditional Chinese medicine sales: Revenue from established portfolio of generic drugs and traditional Chinese medicines across anesthesia, parenteral nutrition, anti-infection, and pediatric therapeutic areas, marketed through the company's nationwide sales network.
4. National Medical Insurance List products: Revenue from drugs covered under China's National Medical Insurance Directory, including 乐儿静® guanfacine hydrochloride extended-release tablets (added to 2025 National Medical Insurance catalog) and other products selected in national volume-based procurement (e.g., propofol emulsion injection selected in 9th batch national procurement).
5. Pharmaceutical manufacturing and contract production: Revenue from internal manufacturing capacity and potential CMO/CDMO services, leveraging four GMP-certified production bases for both innovative biologics (antibody/ADC) and generic/small-molecule pharmaceuticals.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Biokin Pharmaceutical is a fully integrated biopharmaceutical company that discovers, develops, manufactures, and commercializes innovative oncology biologics (including bispecific/multispecific antibodies and antibody-drug conjugates) alongside a portfolio of generic and traditional Chinese medicines. Its lead asset izalontamab brengitecan (iza-bren/BL-B01D1) is the world's first approved bispecific ADC, approved by China's NMPA in June 2026 for nasopharyngeal carcinoma, with additional Phase III programs in esophageal cancer, triple-negative breast cancer, and other solid tumors. The company operates four GMP-certified production bases in China and a US R&D subsidiary (SystImmune) and out-licensed global rights outside China to Bristol Myers Squibb in a deal worth up to $8.4 billion.

Product overview

Biokin Pharmaceutical (Sichuan Biokin Pharmaceutical Co., Ltd.) is a fully integrated biopharmaceutical company offering both innovative biologics and generic pharmaceuticals. The company operates a dual-engine model with a portfolio of first-in-class biologics including the world's first approved bispecific ADC (Iza-bren/宜泽康®), tetraspecific antibodies (GNC-038, GNC-039, GNC-035), and HER2 ADC (T-Bren), alongside a diversified generic drug portfolio spanning anesthetics, parenteral nutrition, anti-infectives, pediatrics, and traditional Chinese medicine. The company maintains technology platforms for ADC (HIRE-ADC), multi-specific antibodies (GNC), bispecific antibodies (SEBA), and radiopharmaceuticals (HIRE-ARC), with operations spanning early R&D, clinical development, manufacturing, and commercial sales across China and the US.

Differentiator

Problem solved

Functional benefit

Brands

• SystImmune (西雅图免疫): US-based clinical-stage biopharmaceutical subsidiary focused on innovative cancer treatments using bi-specific, multi-specific antibodies, and ADC technologies
• 多特生物 (Baili-Bio)
• 国瑞药业
• 百利药业
• 乐儿静 (Le'erjing)
• 安贝忻 (Anbeixin)

Products and services

• 宜泽康® (Iza-bren / izalontamab brengitecan / BL-B01D1) World's first approved bispecific antibody-drug conjugate (ADC) simultaneously targeting EGFR and HER3 receptors with a topoisomerase inhibitor payload, for late-line treatment of recurrent/metastatic nasopharyngeal carcinoma and other solid tumors. Sold to hospitals and pharmacies in China; globally out-licensed to Bristol Myers Squibb outside China.
• SI-B001 (Izalontamab) Global first-in-class EGFR×HER3 bispecific antibody in Phase III clinical development for non-small cell lung cancer and other EGFR/HER3-overexpressing solid tumors. Targets both EGFR and HER3 to inhibit receptor homodimerization/heterodimerization and downstream signaling.
• T-Bren (BL-M07D1) HER2-targeting antibody-drug conjugate in Phase III clinical trials for HER2-positive solid tumors.
• [177Lu]-BL-ARC001 Antibody radioactive isotope conjugate (ARC / radiopharmaceutical) using lutetium-177 for cancer treatment.
• GNC-038 World's first clinical-stage tetraspecific antibody simultaneously targeting CD19, CD3, PD-L1, and 4-1BB for hematologic malignancies and solid tumors.
• GNC-039 World's first clinical-stage tetraspecific antibody for solid tumors, targeting EGFRvIII, PD-L1, CD3, and 4-1BB for brain glioma.
• GNC-035 ROR1-targeting tetraspecific antibody in clinical trials for malignant hematologic tumors and solid tumors.
• Anesthetic Pharmaceuticals (麻醉类药品) Generic anesthetic medications including propofol emulsion injection and related anesthesia products sold to hospitals across China.
• Parenteral Nutrition Products (肠外营养类药品) Parenteral nutrition products for clinical nutrition support in hospital settings.
• Anti-infective Pharmaceuticals (抗感染类药品) Anti-infective medications including ribavirin granules and other antiviral/antimicrobial products.
• Pediatric Pharmaceuticals (儿科类药品) Pediatric medications including guanfacine hydrochloride extended-release tablets for ADHD treatment and other pediatric formulations.
• Traditional Chinese Medicine Preparations (中成药) Traditional Chinese medicine preparations distributed through the company's nationwide hospital and pharmacy network.

Quantifiable outcome

• In Phase III TNBC: median OS 15.9 months vs 12.5 months (chemotherapy); median PFS 8.5 months vs 3.1 months; ORR 51.7% vs 20.5%
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Seven partnerships are on record, tiered core, flagship and minor.

• National Medical Products Administration (NMPA) / National Healthcare Security AdministrationcoreOthers · 23 June 2026NMPA approved iza-bren (宜泽康®) for recurrent/metastatic nasopharyngeal carcinoma on June 17, 2026, the world's first approved bispecific ADC. The National Medical Insurance Administration negotiates drug pricing for inclusion in the national insurance catalog.
• C-Ray Therapeutics (Chengdu) Co., Ltd.coreTechnology or Integration · 11 October 2025C-Ray provides automated GMP production and logistics solutions supporting Biokin's entry into the radiopharmaceutical drug conjugate (ARC) field. NMPA implied approval for [177Lu]-BL-ARC001 (Biokin's first ARC drug candidate) was granted, marking Biokin's entry into radiopharmaceuticals.
• Bristol Myers Squibb (BMS)flagshipStrategic or Co-development Partner · 11 December 2023The most significant partnership: a global strategic collaboration for BL-B01D1 (iza-bren/EGFR×HER3 bispecific ADC). BMS pays $800M upfront + up to $500M near-term + up to $7.1B milestones = up to $8.4B total deal value. Companies jointly develop and commercialize in the US; SystImmune retains exclusive rights in Mainland China and manufactures drug for non-China use; BMS has exclusive rights in rest of world. The agreement took effect February 8, 2024, and $800M upfront was received in March 2024. The companies share US development costs and profits/losses.
• National Medical Products Administration (NMPA) / Center for Drug Evaluation (CDE)coreOthers · 2 September 2021CDE granted Breakthrough Therapy Designation to multiple iza-bren indications (7 designations total), included nasopharyngeal carcinoma in priority review, and accepted NDAs for ESCC and TNBC. The NMPA/CDE serves as the primary regulatory authority for drug approval in China.
• SystImmune Clinical Scientific Advisory Committee (CSAC)coreStrategic or Co-development Partner · 4 May 2021Global oncology experts form a Clinical Scientific Advisory Committee including Dr. Hope Rugo (UCSF, breast cancer), Dr. Sara Tolaney (Dana-Farber, breast cancer), Dr. Pasi Jänne (Dana-Farber, lung cancer, EGFR), Dr. Helena A. Yu (MSKCC, lung cancer). These KOLs provide scientific guidance for ADC clinical development, particularly in breast cancer and NSCLC.
• AstraZenecaminorStrategic or Co-development Partner · 4 May 2021SystImmune partnered with AstraZeneca to conduct clinical studies of SI-B001 (EGFR×HER3 bispecific antibody) in combination with TAGRISSO (osimertinib) for EGFR-TKI resistant NSCLC. Details of this collaboration are limited.
• GE HealthcarecoreStrategic or Co-development Partner · 18 April 2017GE Healthcare partnered with Baili Pharmaceutical to build the 多特生物 (Dotai) antibody/ADC drug manufacturing base at Chengdu Medical Town. This was Chengdu's first advanced antibody drug manufacturing facility meeting China, US, and EU GMP standards, enabling clinical sample production and early commercial supply of innovative biologics.

Scale indicators14 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Akeso, Inc. (康方生物): Chinese biopharmaceutical company developing innovative bispecific antibodies (e.g., PD-1/VEGF, PD-1/CTLA-4) with global out-licensing deals (Summit Therapeutics). Directly comparable to Biokin's bispecific antibody and ADC platform focus on oncology.
• Innovent Biologics (信达生物): Leading Chinese innovator biotech developing monoclonal antibodies and bispecifics (PD-1, GLP-1) with commercial-scale biologics manufacturing. Closely comparable to Biokin as a China-based oncology biologics innovator with global partnerships.
• RemeGen Co., Ltd. (荣昌生物): Chinese biopharmaceutical company with a commercial ADC product (Disitamab Vedotin / 爱地希) for HER2-positive solid tumors. Direct peer to Biokin's iza-bren in the Chinese ADC oncology space, both pursuing novel ADC mechanisms for solid tumors.
• BeiGene, Ltd. (百济神州): Global Chinese oncology biotech with approved PD-1 antibody (Tislelizumab) and multiple innovative oncology assets, dual US-China R&D model. Closely comparable to Biokin's dual-innovation model and global commercialization ambition via partners.
• Junshi Biosciences (君实生物): Chinese innovator biotech developing monoclonal antibodies and bispecifics (PD-1, BTLA) with a US presence. Comparable to Biokin's biologics pipeline focus on immuno-oncology and innovative antibody platforms.
• Hansoh Pharmaceutical (翰森制药): Leading Chinese innovative pharmaceutical company with oncology biologics and small-molecule portfolio, listed in Hong Kong. Comparable to Biokin's integrated innovator+generics model and strong domestic commercial presence.

Broad incumbents

• Daiichi Sankyo: Global ADC leader with Enhertu (trastuzumab deruxtecan) and Dato-DXd. Comparable to Biokin's HIRE-ADC platform and bispecific ADC development, though Daiichi Sankyo operates across a much broader cardiovascular and specialty portfolio.
• AstraZeneca: Global biopharma with strong ADC franchise (Datopotamab deruxtecan via partnership with Daiichi Sankyo) and bispecific antibody pipeline. Comparable to Biokin's bispecific antibody (SI-B001) clinical collaboration with AZ, and broad oncology platform overlap.
• Gilead Sciences (Immunomedics): Global biopharma with ADC franchise (Trodelvy/sacituzumab govitecan) for TNBC and other solid tumors. Comparable to Biokin's iza-bren TNBC indication and broader ADC oncology development.

Regional players

• CSPC Pharmaceutical Group (石药集团): Major Chinese pharmaceutical group combining innovative biologics, ADCs, and established generics/TCM. Comparable to Biokin's integrated innovator-plus-generics business model with strong domestic commercial infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries9 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Biokin Pharmaceutical