What Zelgen does

Zelgen (Suzhou Zelgen Biopharmaceuticals Co., Ltd., Shanghai Stock Exchange: 688266) is a publicly listed Chinese biopharmaceutical company founded in 2009 and headquartered in Kunshan, Jiangsu Province, with 501-1,000 employees. The company develops and commercializes innovative drugs across three therapeutic areas: oncology (notably hepatocellular carcinoma and small cell lung cancer), hematology and immunology (myelofibrosis and autoimmune inflammatory diseases such as severe alopecia areata and atopic dermatitis), and hemostasis/diagnostics. It currently markets four NMPA-approved drugs: Zepsun (donafenib tosylate, China's first domestically developed multi-targeted TKI for first-line advanced HCC, approved June 2021 and also indicated for radioactive iodine-refractory differentiated thyroid cancer); Zepuning (recombinant human thrombin, the only recombinant human thrombin commercialized in China, approved January 2024); Zepuping (gecacitinib hydrochloride, China's first domestically developed JAK inhibitor, approved May 2025 for myelofibrosis and June 2026 for severe alopecia areata); and Zesuning (recombinant human thyrotropin beta, China's first approved diagnostic for postoperative DTC assessment, approved January 2026).

Zelgen operates two parallel R&D engines. The small-molecule drug R&D platform integrates drug stabilization technology, structure-activity relationship screening, and AI-aided drug design including deep QSAR modeling and generative molecule generation, and has produced Zepsun, Zepuning, ZG2001 (a pan-KRAS SOS1 inhibitor with dual NMPA/FDA IND clearance), and ZG0895 (a TLR8 agonist with dual NMPA/FDA IND clearance). The bispecific and trispecific antibody platform, housed in majority-owned US subsidiary Gensun Biopharma Inc. (51%), consists of three proprietary architectures - TriGen (trispecific antibodies, source of ZG006/Alveltamig, the world's first DLL3-targeting trispecific), CheckGen (immune checkpoint bispecifics), and TGen (novel-target bispecifics, source of ZG005/Nilvanstomig, a PD-1/TIGIT bispecific). The complex recombinant protein platform underpins Zepuning and Zesuning. Manufacturing is conducted at GMP-compliant facilities in Kunshan covering 11,000 sqm of oral solid tablet capacity and 4,000 sqm of recombinant protein capacity. The intellectual property estate stands at 390 patent applications filed and 136 patents granted across China, the US, the EU and other jurisdictions as of September 2025.

Commercially, Zelgen combines direct field sales (market directors, regional promotion managers, medical science liaisons, sales management) with exclusive territory-based distribution partnerships: Yuanda Life Sciences for Zepuning in Greater China (December 2023) and ATSA, a Swiss affiliate of Merck, for Zesuning in Mainland China (June 2025). The company has secured NRDL inclusion for Zepsun, Zepuning (effective January 2025) and Zepuping (effective January 2026), positioning each for broad hospital and pharmacy access. Revenue also includes licensing income, most notably the December 2025 strategic collaboration and option-to-license agreement with AbbVie granting AbbVie exclusive global rights outside Greater China to ZG006, plus CDMO-related revenue from a long-term cooperation with Pulo Pharmaceutical. The company previously completed a 2018 Series 2 financing of approximately $62M and listed on the Shanghai Stock Exchange STAR Market in 2020.

Name

Zelgen

Legal name

苏州泽璟生物制药股份有限公司

Website

https://zelgen.com

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Zelgen (Suzhou Zelgen Biopharmaceuticals) is a Chinese biopharma company that has commercialized four innovative drugs in oncology, hematology, autoimmune disease, and hemostasis/diagnostics, supported by proprietary small-molecule and bispecific/trispecific antibody R&D platforms including the world's first DLL3-targeting trispecific antibody partnered with AbbVie.

Ownership category

akta.pro rank

Product category

Biopharmaceuticals / Oncology and Hematology Drugs

NAICS

Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

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

akta.pro primary industry

Oncology & Hematology Pharmaceuticals (HLAIAAAC)

akta.pro secondary industries

Hematology Specialty Pharmaceuticals (Non-malignant) (HLAIACAI), Immunology & Inflammation Pharmaceuticals (HLAIAAAD), Monoclonal Antibody Therapeutics (mAbs) (HLAAAAAA)

Keywords

• Innovative oncology drugs
• Small molecule therapeutics
• Bispecific antibodies
• Autoimmune disease treatments
• Recombinant protein drugs

Headquarters

HQ city

Kunshan

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. Pharmaceutical product sales: Zelgen generates revenue from the sale of its four commercialized innovative drugs: Zepsun (Donafenib Tosilate Tablets) for hepatocellular carcinoma, Zepuping (Gecacitinib Hydrochloride Tablets) for myelofibrosis, Zepuning (Recombinant Human Thrombin) for hemostasis, and Zesuning (Human Thyrotropin beta) for differentiated thyroid cancer diagnosis. Sales are made directly through commercial teams and via exclusive distribution partners in specific territories.
2. Licensing and partnership revenue: Zelgen receives licensing revenue from strategic partnerships such as the AbbVie agreement for ZG006 (Alveltamig), where AbbVie obtained exclusive rights outside Greater China. The company also licenses patent rights to third parties (e.g., Gensun license to Qilu Pharmaceutical for GS02, to Kintor for GS19).
3. CDMO and contract manufacturing: Zelgen provides contract development and manufacturing services through partnerships such as the strategic cooperation with Pulo Pharmaceutical for API and intermediate R&D and custom manufacturing.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Zelgen develops, manufactures, and commercializes innovative small-molecule and biologic drugs for oncology, hematology, autoimmune and inflammatory diseases, and hemostasis/diagnostics. Four marketed products are sold in China: Zepsun (donafenib) for HCC and thyroid cancer, Zepuping (gecacitinib) for myelofibrosis and alopecia areata, Zepuning (recombinant human thrombin) for surgical hemostasis, and Zesuning (human thyrotropin beta) for thyroid cancer postoperative assessment. A pipeline of 10+ clinical-stage candidates targets solid tumors, autoimmune diseases, and previously undruggable oncogenic pathways.

Product overview

Zelgen is an innovation-driven biopharmaceutical company with four commercially marketed drugs: Zepsun® (donafenib tosylate) for hepatocellular carcinoma and thyroid cancer; Zepuping® (gecacitinib hydrochloride) for myelofibrosis with expansion into autoimmune diseases; Zepuning® (recombinant human thrombin) for surgical hemostasis; and Zesuning® (human thyrotropin beta) for thyroid cancer diagnosis. The company operates dual innovation engines combining a small-molecule drug R&D platform with AI-aided design capabilities and a bispecific/trispecific antibody platform (TriGen, CheckGen, TGen) plus complex recombinant protein platform. The pipeline includes 10+ candidates with best-in-class/first-in-class potential, including ZG006 (Alveltamig) - world's first DLL3-targeting trispecific antibody, and ZG005 (Nilvanstomig) - PD-1/TIGIT bispecific antibody. Zelgen has established commercial GMP manufacturing facilities for both oral solid tablets and recombinant proteins in Kunshan, China.

Differentiator

Problem solved

Functional benefit

Products and services

• Zepsun (泽普生) — Donafenib Tosilate Tablets Oral multi-targeted tyrosine kinase inhibitor (targets VEGFR, PDGFR, Raf kinases) for first-line treatment of advanced hepatocellular carcinoma and progressive, locally advanced or metastatic radioactive iodine-refractory differentiated thyroid cancer. Sold to Chinese hospitals and pharmacies for patient administration.
• Zepuping (泽普平) — Gecacitinib Hydrochloride Tablets Novel JAK inhibitor targeting JAK1, JAK2, JAK3 and TYK2 with dual JAK/ACVR1 activity. Approved in China for intermediate-2/high-risk myelofibrosis and severe alopecia areata in adults; under development for additional autoimmune indications including atopic dermatitis and ankylosing spondylitis.
• Zepuning (泽普凝) — Recombinant Human Thrombin

Quantifiable outcome

• Zepsun Phase III (ZGDH3): mOS 12.1 vs 10.3 months for sorafenib (HR=0.831, p=0.0363) in first-line advanced HCC; only monotherapy to demonstrate superior survival vs sorafenib in head-to-head HCC trial
• +6 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

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

• Merck (MSD) R&D (China) Co., Ltd. (默沙东研发（中国）有限公司)coreStrategic or Co-development Partner · 12 May 2026In May 2026, Zelgen and Merck R&D China Innovation Collaboration Center (MCICC) reached a clinical strategic cooperation intention for joint development of tumor trispecific antibody drugs. Both parties will integrate their respective strengths to accelerate clinical development in solid tumors, leveraging Merck's global clinical development and oncology immuno expertise.
• AbbVie Group Holding Company (registered in Bermuda)coreStrategic or Co-development Partner · 2 December 2025In December 2025, Zelgen entered into a strategic collaboration and option-to-license agreement with AbbVie for global development and commercialization of ZG006 (Alveltamig). AbbVie obtained exclusive rights outside Greater China (Mainland China, Hong Kong SAR, Macau SAR), while Zelgen retained development and commercialization rights within Greater China. ZG006 is a DLL3-targeting trispecific T-cell engager for SCLC and other neuroendocrine tumors.
• ATSA (Merck Swiss affiliate)majorChannel Partner/ Reseller/ Distributor · 1 June 2025In June 2025, Zelgen signed an exclusive sales distribution agreement with ATSA, a Swiss affiliate of Merck, granting exclusive rights to promote and market Zesuning (Human Thyrotropin beta) in Mainland China.
• Yuanda Life Sciences (Shandong) Co., Ltd. (远大生命科学（山东）有限公司)majorChannel Partner/ Reseller/ Distributor · 1 December 2023In December 2023, Zelgen entered into an exclusive sales distribution agreement with Yuanda Life Sciences, granting exclusive rights to promote and market Zepuning (Recombinant Human Thrombin) in Mainland China, Hong Kong, Macau, and Taiwan region.
• Pulo Pharmaceutical Co., Ltd. (普洛药业股份有限公司, Stock: 000739.SZ)majorStrategic or Co-development Partner · 13 June 2023Zelgen signed a strategic cooperation framework agreement with Pulo Pharmaceutical for long-term cooperation in API and intermediate R&D and custom manufacturing (CDMO) projects. Pulo Pharma has advanced manufacturing facilities, R&D capabilities, quality management, and EHS control systems, serving as a one-stop professional R&D and manufacturing service provider for global innovative drug clients.
• Kintor Pharmaceutical Limited (开拓药业, Stock: 9939.HK)minorOEM/ Whitelabel/ Licensing Partner · 21 August 2020Subsidiary Gensun licensed GS19 (PD-L1/TGF-beta bispecific antibody) to Kintor Pharmaceutical for exclusive development and commercialization in Greater China. Gensun received $23 million in upfront and milestone payments plus royalties on net sales.
• Gensun Biopharma Inc. (泽璟控股51%)coreStrategic or Co-development Partner · 17 August 2020Gensun is Zelgen's majority-owned subsidiary (51% fully diluted) based in California, USA. Gensun operates three proprietary bispecific/trispecific antibody platforms (TriGen, CheckGen, TGen) and has generated multiple clinical-stage bispecific/trispecific antibody candidates including ZG005, ZG006, ZGGS18, ZGGS15. Gensun has 10+ preclinical projects and has granted patent licenses to Qilu Pharmaceutical and Kintor Pharmaceutical.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Innovent Biologics: Leading Chinese biotech with a strong oncology and immunology pipeline including PD-1 (sintilimab) and multiple bispecific antibodies. Directly comparable to Zelgen as a domestic innovative-drug company combining small molecules, biologics, and bispecifics, with commercial launches and global BD partnerships.
• Akeso, Inc. Chinese biotech specializing in bispecific and multispecific antibodies (e.g., PD-1/VEGF cadonilimab). Closely comparable to Zelgen on the bispecific/trispecific antibody platform thesis and oncology focus, with multiple Phase III assets and rising global profile.
• Junshi Biosciences: Chinese biotech with toripalimab (PD-1) and a pipeline of bispecifics. Comparable to Zelgen on the innovation-stage domestic biotech profile, NRDL/regulatory navigation, and emerging bispecific pipeline development.
• Hutchmed (HUTCHMED): Hong Kong-headquartered Chinese oncology biotech with surufatinib, savolitinib, and fruquintinib. Comparable as an innovative Chinese oncology company pursuing global development through partnerships (AstraZeneca, Takeda, Eli Lilly) — a similar playbook to Zelgen's AbbVie deal.
• RemeGen: Chinese biotech with the first domestic HER2 ADC (disitamab vedotin) and bispecific antibodies. Comparable to Zelgen on the antibody platform thesis, oncology focus, and Chinese innovative-drug commercialization with global BD potential.
• Cstone Pharmaceuticals: Chinese oncology biotech with PD-L1 (sugemalimab) and multiple targeted therapies, with established global partnerships (Pfizer, EQRx). Comparable to Zelgen on the China-innovator + global-BD business model for oncology assets.

Broad incumbents

• BeiGene: Large global Chinese biopharma with the BTK inhibitor zanubrutinib and PD-1 tislelizumab. Comparable as a broader Chinese oncology platform with both small molecules and biologics, global commercial footprint, and an innovation engine of similar scale to Zelgen.
• Hansoh Pharmaceutical: One of China's largest domestic innovative pharma companies with multiple launched innovative drugs across oncology, CNS, and metabolic disease. Comparable as a Chinese peer with both small-molecule and biologic capabilities and a focus on NRDL-driven commercialization.
• Amgen: Global biopharma with tarlatamab, a leading DLL3-directed BiTE in small cell lung cancer. Relevant to Zelgen as the principal global competitor for ZG006 in the DLL3 space and as a benchmark for trispecific/multispecific T-cell engager development.

Regional players

• Shanghai Henlius Biotech: Chinese biopharma with a biosimilars and biologics platform, multiple approved products, and strong GMP manufacturing. Comparable to Zelgen on the biologics manufacturing and complex recombinant protein capabilities (e.g., Zepuning and Zesuning).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds3 records

Investors7 records

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

M&A

Investments

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

Frequently asked questions about Zelgen