Abbisko Therapeutics

What Abbisko Therapeutics does

Abbisko Therapeutics is a Shanghai-based, HKEX-listed (02256.HK) clinical-stage biopharmaceutical company founded in 2016 by pharma veterans including Dr. Yao-Chang Xu (former Eli Lilly) and Dr. Hongping Yu. The company focuses on discovering and developing differentiated small-molecule therapies for precision oncology, immuno-oncology, and rare diseases, with a pipeline of 11+ candidates spanning FGFR (ABSK011/irpagratinib, ABSK091/fexagratinib, ABSK061, ABSK121, ABSK012), CSF-1R (ABSK021/pimicotinib), EGFR (ABSK112, ABK3376), CXCR4 (mavorixafor/ABSK081), oral PD-L1 (ABSK043), CD73 (ABSK051), PRMT5 (ABSK131), and preclinical KRAS G12D and pan-KRAS programs. The business model is asset-light and partnership-driven: Abbisko retains Greater China rights for key assets while out-licensing regional and global ex-China development and commercialization to top-tier pharma partners (Eli Lilly, Merck KGaA, AstraZeneca, Roche, BeiGene, X4 Pharmaceuticals, Aileisi), generating revenue through upfront payments, development/regulatory/commercial milestones, and tiered royalties on net sales. The company achieved its first regulatory approval in December 2025 with China NMPA's approval of pimicotinib for tenosynovial giant cell tumor, followed by FDA NDA acceptance in January 2026; a 2026 expansion of the Eli Lilly collaboration represents up to $1.9 billion in potential milestones, signaling a transition from clinical development to early commercialization across China, the US, and Europe.

Name

Abbisko Therapeutics

Legal name

Abbisko Therapeutics Co., Ltd.

Website

https://abbisko.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Abbisko Therapeutics is a Shanghai-based, HKEX-listed clinical-stage biopharmaceutical company that discovers and develops differentiated small-molecule therapies for precision oncology, immuno-oncology, and rare diseases, out-licensing regional and global rights to top-tier pharma partners while retaining Greater China rights.

Ownership category

akta.pro rank

Product category

Precision Oncology Pharmaceuticals

NAICS

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

SIC

Pharmaceutical Preparations (2834), Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Oncology & Hematology Pharmaceuticals (HLAIAAAC)

akta.pro secondary industries

Rare Oncology & Hematologic Malignancy Therapies (HLAIAIAC), Oncology Specialty Pharmaceuticals (HLAIACAA), Specialty Care Pharmaceuticals (HLAIAAAB)

Keywords

• Precision oncology drugs
• Small molecule therapeutics
• Targeted cancer therapy
• FGFR inhibitors
• Immuno-oncology drugs

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Licensing and Milestone Payments: Abbisko generates revenue through licensing deals in which it grants regional or global rights to its pipeline assets in exchange for upfront payments, development and regulatory milestone payments, and commercial milestone payments. The 2022 Eli Lilly collaboration and its 2026 $1.9 billion expansion represent the flagship example. Milestone payments are triggered upon achievement of clinical, regulatory, and commercial milestones.
2. Royalties on Net Sales: Following regulatory approval and commercialization of licensed assets, Abbisko receives royalty payments on net sales from its commercialization partners. Royalties provide recurring revenue tied to commercial performance of approved therapies in partnered territories.

Go-to-market motion1 record

Distribution channels7 records

Marketing channels3 records

Core offering

Abbisko Therapeutics discovers and develops differentiated small-molecule therapies for cancer and rare diseases, with a pipeline of 15+ clinical-stage and preclinical programs targeting FGFR, CSF-1R, KRAS, EGFR, PD-L1, CD73, and other oncology mechanisms. The company pursues a partnership-driven commercialization model, out-licensing global or regional rights to major pharmaceutical partners while retaining rights in Greater China for select assets.

Product overview

Abbisko Therapeutics is a Shanghai-based clinical-stage biopharmaceutical company founded in 2016, focused on discovering and developing novel and differentiated small-molecule therapies for cancer and beyond. The company's in-house R&D engine encompasses a multi-dimensional discovery platform, and its pipeline spans both clinical-stage and preclinical programs. The clinical-stage pipeline centers on precision/targeted oncology candidates including Pimicotinib (CSF-1R inhibitor, partnered globally with Merck KGaA and already approved in China), Irpagratinib (FGFR4 inhibitor with global rights), Fexagratinib (pan-FGFR inhibitor partnered with BeiGene), ABSK061 (FGFR2/3 inhibitor), and Mavorixafor (CXCR4 antagonist partnered with X4 Pharmaceuticals for ex-China), alongside immuno-oncology assets such as ABSK043 (oral PD-L1 inhibitor) and ABSK051 (CD73 inhibitor). Multiple programs have received regulatory designations including BTD from FDA/CDE and PRIME from EMA.

Differentiator

Problem solved

Functional benefit

Brands

• 贝捷迈® (Pimicotinib): Brand name for Pimicotinib (ABSK021), the company's CSF-1R inhibitor approved in China for tenosynovial giant cell tumor.

Products and services

• Pimicotinib (ABSK021) Novel oral highly selective and potent CSF-1R inhibitor approved in China for treating tenosynovial giant cell tumor (TGCT), with additional development in chronic graft-versus-host disease (cGVHD) and various solid tumors. Licensed to Merck KGaA for worldwide commercialization.
• Irpagratinib (ABSK011) FGFR4 inhibitor for treating FGF19-overexpressing hepatocellular carcinoma (HCC), both as monotherapy and in combination with atezolizumab. Global rights retained by Abbisko.
• Fexagratinib (ABSK091) Pan-FGFR inhibitor for treating FGFR-altered urothelial cancer (UC), in monotherapy and in combination with tislelizumab (partnered with BeiGene).
• ABSK061 Selective FGFR2/3 inhibitor in development for solid tumors (combo) and achondroplasia in children. Received FDA IND clearance, orphan drug designation, and rare pediatric disease designation.
• ABSK121 FGFR-resistant mutations inhibitor targeting solid tumors resistant to prior FGFR therapies.
• ABSK112 EGFR Exon20 inhibitor for non-small cell lung cancer (NSCLC), representing a next-generation approach to EGFR mutation targeting.
• ABSK012 FGFR4 mutations inhibitor in development for rhabdomyosarcoma (RMS) and solid tumors.
• ABK3376 (AST2303) EGFR C797S inhibitor for EGFR-mutant NSCLC, partnered with Ailis (Greater China: Ailis; Ex-China: Abbisko). Licensed to Ailis for Greater China development and commercialization.
• ABSK131 MTA-cooperative PRMT5 inhibitor in development for solid tumors, leveraging synthetic lethality mechanism.
• Mavorixafor (ABSK081) Oral CXCR4 antagonist for treating WHIM syndrome (Warts, Hypogammaglobulinemia, Infections, and Myelokathexis). Licensed to X4 Pharmaceuticals for ex-China markets (X4 obtained FDA approval for Xolremdi). Abbisko holds Greater China rights.
• ABSK043 Oral PD-L1 inhibitor for non-small cell lung cancer (NSCLC), in development as monotherapy and in combination with furmonertinib.
• ABSK051 CD73 inhibitor for immuno-oncology applications, targeting the adenosine pathway in tumor microenvironments.

Quantifiable outcome

• Potential deal value of up to $1.9 billion in the expanded Eli Lilly partnership for pimicotinib and another asset (2026)
• +1 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature12 records

Partnerships

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

• Eli LillyflagshipStrategic or Co-development Partner · 1 January 2026Abbisko entered an initial collaboration with Eli Lilly in 2022 for the development of pimicotinib (ABSK021), a CSF-1R inhibitor. In 2026, the partnership was substantially expanded, with potential deal value reaching up to $1.9 billion, covering global ex-China development and commercialization rights for pimicotinib and another undisclosed asset. Abbisko retains Greater China rights. The deal includes upfront, development, regulatory, and commercial milestones plus royalties on net sales.
• Merck KGaAcoreStrategic or Co-development PartnerAbbisko partnered with Merck KGaA for the worldwide commercialization of pimicotinib (ABSK021), leveraging Merck KGaA's global oncology commercial infrastructure. Merck KGaA handles regulatory submissions and commercialization in major markets globally.
• BeiGenecoreStrategic or Co-development PartnerAbbisko granted BeiGene Greater China rights for ABSK091 (pan-FGFR/WEE1 inhibitor). BeiGene is also evaluating ABSK091 in combination with its anti-PD-1 antibody tislelizumab (tislelizumab-jsgr) in patients with FGFR-altered solid tumors, representing a biomarker-driven combination therapy approach.
• AstraZenecacoreStrategic or Co-development PartnerAstraZeneca holds regional rights to ABSK011 (FGFR4 inhibitor, partnered for regional development and commercialization) and to AZD4547 (FGFR1/2/3 inhibitor, in-licensed by Abbisko from Roche and sub-licensed to AstraZeneca). AstraZeneca brings its global oncology capabilities to these FGFR-targeted assets.
• RochecoreStrategic or Co-development PartnerRoche holds regional rights for ABSK011 (FGFR4 inhibitor), complementing its broader oncology portfolio. Abbisko in-licensed AZD4547 (FGFR1/2/3 inhibitor) from Roche, demonstrating the company's strategy of accessing validated assets from global pharma.
• X4 PharmaceuticalsminorStrategic or Co-development PartnerAbbisko partnered with X4 Pharmaceuticals for the development of mavorixafor in WHIM syndrome (Warts, Hypogammaglobulinemia, Infections, and Myelokathexis), a rare immune deficiency disorder. This partnership diversifies Abbisko's rare disease portfolio beyond CNS indications.
• AileisiminorOEM/ Whitelabel/ Licensing PartnerAbbisko licensed ABK3376 (EGFR inhibitor) to Aileisi for development and commercialization in Greater China. Aileisi is responsible for all regulatory and commercial activities for this asset within the Chinese market.
• Shuofang PharmaminorStrategic or Co-development PartnerAbbisko partnered with Shuofang Pharma for the development of ABSK021 (CSF-1R inhibitor) in CNS rare disease indications within Greater China. This partnership extends the application of ABSK021 beyond its primary oncology indication (TGCT) into rare neurological diseases.
• 2seventy BiominorStrategic or Co-development PartnerAbbisko entered a biosimilar partnership with 2seventy Bio, expanding its pipeline beyond proprietary novel small molecule oncology candidates into the biosimilar space, providing a complementary revenue stream and pipeline diversification.

Scale indicators3 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Erasca: Clinical-stage precision oncology company developing small molecule inhibitors targeting the RAS/MAPK pathway including KRAS and EGFR combinations. Comparable pipeline focus and small molecule oncology development model to Abbisko.
• Hutchmed (HUTCHMED Limited): Hong Kong-listed (HKEX:13) clinical-stage biopharma developing precision oncology and immunology small molecules, with established global pharma partnerships (AstraZeneca, Eli Lilly, Takeda). Same Chinese-domiciled, HKEX-listed, small-molecule precision oncology profile and partnership-driven business model.
• BeiGene: Global oncology company developing small molecule and biologic therapies, partnered with Abbisko on ABSK091 plus tislelizumab combination. Direct competitor/partner in FGFR-altered cancers and similar Chinese oncology biotech with global commercial footprint.
• Blueprint Medicines: Precision therapy company developing kinase inhibitors for genomically defined cancers and rare diseases including FGFR4 inhibitor (fisogatinib/BLU-554) and other targeted oncology assets. Highly comparable pipeline structure and indication targeting to Abbisko.
• Innovent Biologics: HKEX-listed Chinese biopharmaceutical company developing oncology therapies including small molecules and biologics with extensive global pharma partnerships (Eli Lilly, Roche, Sanofi). Comparable scale and pipeline breadth in oncology with strong BD track record.
• Mirati Therapeutics: Precision oncology biotech developing small molecule KRAS inhibitors (adagrasib, MRTX1133 for KRAS G12D). Direct pipeline overlap with Abbisko's KRAS G12D program (ABSK141) and Pan-KRAS (P021) initiatives.
• Junshi Biosciences: Shanghai-based, HKEX-listed (1877.HK) biopharma focused on immuno-oncology and small molecule oncology drugs with global licensing partnerships (Eli Lilly, Coherus). Same Chinese precision/immuno-oncology model with PD-1/PD-L1 and combination therapy focus overlapping ABSK043.

Emerging players

• Cogent Biosciences: Clinical-stage precision therapy company developing kinase inhibitors for rare diseases and oncology indications including bezuclastinib for systemic mastocytosis. Comparable stage and rare disease/specialty oncology focus relevant to Abbisko's TGCT and rare disease programs.

Broad incumbents

• Hansoh Pharmaceutical: Larger established Chinese pharmaceutical company developing both innovative branded drugs and generics across oncology, CNS, and other therapeutic areas. Provides comparison for Abbisko's scaling path from clinical-stage innovator to commercial-stage pharma.
• Daiichi Sankyo: Global pharmaceutical company that developed TURALIO (pexidartinib), the first FDA-approved systemic therapy for TGCT. Relevant competitor and commercial benchmark for Abbisko's pimicotinib TGCT launch trajectory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/abbisko

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds4 records

Investors19 records

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M&A

Investments

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

Frequently asked questions about Abbisko Therapeutics