What Ascletis does

Ascletis Pharma Inc. is a fully integrated, publicly traded (HKEX: 1672.HK) biotechnology company headquartered in Hangzhou, China, founded in 2013 by Dr. Jinzi Jason Wu. The company develops and commercializes small-molecule and peptide therapeutics with its primary current focus on metabolic diseases — particularly obesity — while retaining a legacy footprint in viral hepatitis (HCV/HBV). The technology base rests on three proprietary platforms: Artificial Intelligence-assisted Structure-Based Drug Discovery (AISBDD), the Ultra-Long-Acting Platform (ULAP) for subcutaneous depot formulations, and Peptide Oral Transport ENhancement Technology (POTENT), which the company claims delivers 3–5% oral bioavailability for peptides versus sub-1% with conventional SNAC formulations. Its lead clinical asset is ASC30, a small-molecule GLP-1R agonist designed for once-daily oral or once-monthly-to-quarterly subcutaneous dosing, supported by a portfolio of differentiated obesity candidates (ASC35 dual GLP-1R/GIPR, ASC36 amylin, ASC37 triple GLP-1R/GIPR/GCGR, ASC39 oral amylin, and an ASC30/ASC39 FDC).

The company's commercial revenue comes from a narrow hepatitis product set: Ganovo (Danoprevir), the first domestically developed DAA in China; Ravidasvir (ASC16); and exclusive mainland China sales/marketing rights for Roche's Pegasys for HBV/HCV, distributed via a strategic partnership with CR Pharmaceutical Commercial Group covering all 31 Chinese provinces. Pricing is mediated through provincial medical insurance reimbursement programs (Tianjin, Chengdu, Shaoxing, Zhejiang). Reported revenue is small (H1 prior-year revenue of approximately CNY 104M more than doubled year-over-year) and the company is unprofitable with annual losses of approximately CNY 359.88M, so equity value is driven primarily by pipeline optionality rather than current product cash flow. Additional late-stage assets include denifanstat (ASC40), a first-in-class oral FASN inhibitor for moderate-to-severe acne with NDA accepted by China's NMPA, and ASC22 (Envafolimab) for HBV functional cure.

Name

Ascletis

Legal name

Ascletis Pharma Inc.

Website

https://ascletis.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

Ascletis Pharma Inc. is a Hong Kong-listed biotechnology company (1672.HK) developing and commercializing differentiated small-molecule and peptide therapeutics — anchored by obesity lead ASC30 — using proprietary AI-assisted discovery, ultra-long-acting depot, and oral peptide delivery platforms, with legacy hepatitis products distributed across China.

Ownership category

akta.pro rank

Product category

Biopharmaceutical Therapeutics

NAICS

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

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Gastroenterology & Hepatology Pharmaceuticals (HLAIAAAI)

akta.pro secondary industries

Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation) (HLAAAIAI), Protein Engineering & Directed Evolution Platforms (enzyme/therapeutic protein optimization) (HLAAAIAC)

Keywords

• Metabolic disease therapeutics
• GLP-1 receptor agonists
• Antiviral hepatitis drugs
• Small molecule drug discovery
• Peptide therapeutics platform

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices4 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. Ganovo (Danoprevir) Sales: Commercial sales of Ganovo, the first domestically developed DAA for hepatitis C in China, with reimbursement access through multiple provincial medical insurance programs (Tianjin, Chengdu, Shaoxing, Zhejiang).
2. Pegasys Distribution Partnership with Roche: Ascletis holds exclusive sales and marketing promotion rights for Pegasys (peginterferon alfa-2a) in mainland China for HBV and HCV, leveraging Roche's established brand and Ascletis's hepatitis focus.
3. Denifanstat (ASC40) - Acne: First-in-class oral FASN inhibitor for moderate-to-severe acne vulgaris. NDA accepted by China's NMPA. Awaiting commercial launch.
4. Licensing Royalties and Milestone Payments - Sagimet Partnership: Ascletis holds exclusive license to develop and commercialize Sagimet's FASN inhibitor denifanstat/ASC40 in Greater China, with milestone payments and tiered royalties from mid-teens to ~20% on net sales.
5. Pipeline Drug Development - Clinical Milestones: Pre-revenue clinical-stage biopharma with multiple pipeline candidates (ASC30, ASC35, ASC36, ASC37, ASC39) advancing through clinical trials. Revenue generation contingent on successful clinical and regulatory outcomes.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Ascletis is a fully integrated biotechnology company that discovers, develops, and commercializes therapeutics for metabolic diseases (primarily obesity and diabetes), viral hepatitis, NASH, and acne. The company uses three proprietary platforms—AI-assisted Structure-Based Drug Discovery (AISBDD), Ultra-Long-Acting Platform (ULAP), and Peptide Oral Transport ENhancement Technology (POTENT)—to develop small molecule and peptide drug candidates such as ASC30 (lead GLP-1R agonist), ASC35, ASC36, ASC37, ASC39, Ganovo (HCV DAA), Ravidasvir, Pegasys, and denifanstat.

Product overview

Ascletis Pharma Inc. is a fully integrated biotechnology company focused on developing and commercializing therapeutics for metabolic diseases. The company has developed multiple drug candidates in-house using its proprietary Artificial Intelligence-assisted Structure-Based Drug Discovery (AISBDD), Ultra-Long-Acting Platform (ULAP), and Peptide Oral Transport ENhancement Technology (POTENT). The portfolio includes ASC30 as the lead program (small molecule GLP-1R agonist with oral daily and subcutaneous monthly/quarterly dosing), supported by peptide agonists ASC35, ASC36, ASC37, and fixed-dose combinations. Commercial products include Ganovo and Ravidasvir for hepatitis C, Pegasys for HBV/HCV partnered with Roche, and denifanstat (ASC40) approaching launch for acne.

Differentiator

Problem solved

Functional benefit

Brands

• Ganovo: First direct-acting anti-viral agent for hepatitis C developed domestically in China (Danoprevir)
• ASC30
• ASC36
• ASC35
• ASC37
• ASC39
• ASC40 (Denifanstat)
• Pegasys

Products and services

• ASC30
• ASC35
• ASC36
• ASC37
• ASC39
• ASC30_39 FDC
• Denifanstat (ASC40)
• Ganovo (Danoprevir/ASC08)
• Ravidasvir (ASC16)
• Pegasys (Peginterferon alfa-2a)
• ASC22 (Envafolimab)
• ASC47
• ASC50

Quantifiable outcome

• ASC30 subcutaneous depot: 7.5% placebo-adjusted mean weight loss at Week 16 in 65 obese participants after 3 monthly doses (Phase II)
• +8 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Roche (via Shanghai Roche Pharmaceuticals Ltd.)coreStrategic or Co-development PartnerIn November 2018, Ascletis and Roche entered an exclusive partnership granting Ascletis sales and marketing promotion rights for Pegasys (peginterferon alfa-2a) in mainland China for hepatitis B and C. Roche maintains manufacturing and supply. This builds on Ascletis' prior successful Ganovo partnership with Roche (which licensed danoprevir/ASC08 to Ascletis in 2013).
• Suzhou Alphamab Co., Ltd.coreStrategic or Co-development PartnerIn January 2019, Ascletis entered an exclusive licensing and strategic collaboration with Alphamab for anti-PD-L1 KN035 (ASC22) to treat hepatitis B and other viral diseases in Greater China. Alphamab manufactures ASC22 for clinical trials and commercialization. In November 2021, the partnership was expanded into a worldwide license agreement.
• Sagimet Biosciences (formerly 3-V Biosciences, Inc.)coreStrategic or Co-development PartnerIn February 2019, Ascletis and Sagimet entered an exclusive license agreement for FASN inhibitor TVB-2640 (denifanstat, ASC40) in Greater China. Ascletis led the $18M Series E financing and contributed to a further $7M tranche. Sagimet is developing denifanstat for NASH, acne, and other indications globally. Ascletis' NDA for denifanstat for acne has been accepted by China's NMPA. Sagimet is planning US Phase 3 acne trial in H2 2026.
• CR Pharmaceutical Commercial Group Co., Ltd. (China Resources)coreChannel Partner/ Reseller/ DistributorIn June 2018, Ascletis and CR Pharmaceutical Commercial Group (a subsidiary of China Resources Pharmaceutical Group Limited, HK: 3320) signed a strategic cooperation agreement for distribution networks and end-user services for Ganovo. CR Pharma is China's second-largest pharmaceutical distributor, directly serving hospitals and medical institutions across all 31 provinces.
• Medivir ABminorOEM/ Whitelabel/ Licensing PartnerIn August 2017, Ascletis licensed exclusive rights from Medivir to develop, manufacture and commercialize MIV-802 (ASC21), a nucleotide polymerase inhibitor for hepatitis C, in Greater China. Medivir received upfront and milestone payments plus tiered royalties.

Scale indicators9 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• Innovent Biologics: Innovent Biologics is a leading Chinese biopharmaceutical company listed on HKEX with a focus on innovative medicines for oncology, metabolic diseases, and autoimmune conditions. Comparable as a Hong Kong-listed Chinese biotech with similar scale, R&D intensity, and pipeline breadth including metabolic disease programs (e.g., mazdutide).
• Hansoh Pharmaceutical: Hansoh Pharmaceutical is one of China's largest innovative drug developers, listed on HKEX, with established presence in oncology, metabolic, and CNS therapeutic areas. Comparable as a Chinese pharmaceutical innovator with similar R&D-driven business model and HKEX listing.
• Sagimet Biosciences: Sagimet Biosciences (NASDAQ: SGMT) is the originator and global developer of denifanstat (ASC40), the FASN inhibitor licensed to Ascletis for Greater China. Directly comparable as a co-developer of Ascletis's near-term commercial asset and as a metabolic disease-focused clinical-stage biotech.
• Akeso Inc. Akeso Inc. is a Hong Kong-listed Chinese biotech developing novel bispecific antibodies and other biologics for cancer and autoimmune diseases. Comparable as a Chinese biotech with similar HKEX-listed structure and R&D-driven innovation model.

Broad incumbents

• Eli Lilly: Eli Lilly is the global leader in the GLP-1 obesity market with Mounjaro (tirzepatide) and Zepbound. Ascletis directly references Eli Lilly's orforglipron as a Phase II comparator for ASC30, making it the most clinically relevant incumbent in Ascletis's core competitive set.
• Novo Nordisk: Novo Nordisk is the dominant incumbent in diabetes and obesity with Ozempic/Wegovy (semaglutide), including the oral semaglutide formulation. Ascletis's ASC30 oral GLP-1 program directly competes for the same prescriber and patient pool.
• Roche: Roche is Ascletis's strategic partner for Pegasys distribution in China and the originator of danoprevir (ASC08/Ganovo). Comparable as a broader pharma incumbent with established hepatitis franchise that overlaps with Ascletis's HCV commercial products.

Emerging players

• Structure Therapeutics: Structure Therapeutics is a clinical-stage biotech developing oral small molecule GLP-1R agonists (GSBR-1290) for obesity. Directly comparable as a peer company pursuing oral small molecule GLP-1 with similar mechanism to ASC30, but focused exclusively on that asset.
• Viking Therapeutics: Viking Therapeutics is a US clinical-stage biotech developing VK2735 (dual GLP-1/GIP agonist) and oral formulation programs. Directly comparable to Ascletis's ASC35/ASC37 dual and triple agonists in the obesity space, with similar mechanism of action.
• Terns Pharmaceuticals: Terns Pharmaceuticals is a US-listed clinical-stage biotech developing oral GLP-1R agonist (TERN-601) and other metabolic disease assets. Comparable as a peer pursuing oral small molecule GLP-1 with similar mechanism to ASC30.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries12 records

Funding overview

Funding rounds4 records

Investors8 records

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

M&A

Investments3 records

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

Frequently asked questions about Ascletis