Shanghai Junshi Biosciences

What Shanghai Junshi Biosciences does

Shanghai Junshi Biosciences (上海君实生物医药科技股份有限公司) is an innovation-driven Chinese biopharmaceutical company founded in December 2012 and dual-listed on the Hong Kong Stock Exchange (1877.HK, since October 2018) and the Shanghai Stock Exchange STAR Market (688180.SH, since February 2020). Headquartered in Shanghai with approximately 3,000 employees, it operates a full-chain biologics platform spanning target discovery, antibody humanization, stable cell line development, ADC, bispecific/multispecific, and siRNA platforms, GMP manufacturing, and global regulatory filing. Its technology base includes a proprietary high-yield GS expression system, an automated high-throughput screening platform, and a transmembrane receptor protein array covering nearly 5,000 human membrane proteins. Two CGMP-certified production bases in Suzhou Wujiang (4,500L) and Shanghai Lingang (42,000L) provide 46,500L of total fermentation capacity supporting both domestic and overseas supply.

Junshi has five commercialized products led by toripalimab (TUOYI in China / LOQTORZI internationally / ZYTORVI in India), the first Chinese-developed anti-PD-1 monoclonal antibody and the first Chinese-developed innovative biologic to receive FDA approval (May 2023). Toripalimab holds 13 approved indications in Chinese Mainland spanning melanoma, nasopharyngeal carcinoma, NSCLC, ESCC, urothelial carcinoma, RCC, TNBC, HCC, and lymphoma, with approvals across 40+ countries. The remaining commercialized products are adalimumab biosimilar (JUNMAIKANG), mindeudesivir COVID-19 antiviral (MINDEWEI), and ongericimab PCSK9 inhibitor (JUNSHIDA), all four included in China's National Reimbursement Drug List (2025 edition). The pipeline includes subcutaneous toripalimab (JS001sc), PD-1/VEGF bispecific (JS207), EGFR/HER3 ADC (JS212), BTLA antibody tifcemalimab, IL-17A roconkibart, CD20/CD3 bispecific JS203, PD-1/IL-2 JS213, Claudin18.2 ADC JS107, and ANGPTL3 siRNA JS401.

The company generates revenue primarily through domestic sales of NRDL-reimbursed biologics to Chinese hospitals and oncology centers (FY2025 revenue of RMB 2,498M, ~+28% YoY, with toripalimab domestic sales of RMB 2,068M, +38% YoY) and through upfront, milestone, and royalty payments from international partners covering the US/Canada (Coherus), EU/EEA/UK/Switzerland (LEO Pharma), MENA (Hikma), 21 emerging markets (Dr. Reddy's), and Southeast Asia (Rxilient JV). Capital is supplemented by equity financing, most recently a June 2025 H-share placement raising approximately RMB 940 million. Customers are concentrated in oncology, autoimmune, chronic metabolic, and infectious disease segments across China and 40+ international jurisdictions.

Name

Shanghai Junshi Biosciences

Legal name

上海君实生物医药科技股份有限公司

Website

https://junshipharma.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shanghai Junshi Biosciences is a Shanghai-headquartered, dual-listed Chinese biopharmaceutical company that discovers, manufactures, and commercializes innovative antibodies (PD-1, ADC, bispecific, siRNA) for oncology, autoimmune, metabolic, and infectious disease patients across China and 40+ countries.

Ownership category

akta.pro rank

Product category

Biopharmaceutical Therapeutics

NAICS

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

SIC

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

akta.pro industry

PRIMARYHLAIAAAD

Immunology & Inflammation Pharmaceuticals

Healthcare & Life Sciences/Pharmaceuticals/Branded (Innovator) Pharmaceuticals

SECONDARYHLAAAIAB

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering)

Healthcare & Life Sciences/Biotechnology & Biologics/Biologic Drug Discovery Platforms (screening, antibody engineering, synthetic biology)

SECONDARYHLAAAAAF

Bispecific & Multispecific Antibodies

Healthcare & Life Sciences/Biotechnology & Biologics/Therapeutic Biologics (mAbs, recombinant proteins, cytokines)

SECONDARYHLAIACAB

Immunology & Autoimmune Specialty Pharmaceuticals

Healthcare & Life Sciences/Pharmaceuticals/Specialty Pharmaceuticals

Keywords

• Therapeutic monoclonal antibodies
• Immuno-oncology biopharmaceuticals
• Antibody-drug conjugates
• Bispecific antibody drugs
• Innovative biologics R&D

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Toripalimab (TUOYI/LOQTORZI) sales: Domestic sales of toripalimab in China generated approximately RMB 2,068 million in 2025, up 38% year-over-year, representing the company's dominant revenue stream. Internationally, toripalimab generates revenue through licensing agreements and distribution partnerships in the US, EU, Southeast Asia, Middle East, India, and over 40 countries.
2. Other commercialized products: Three additional commercialized products: adalimumab biosimilar (JUNMAIKANG), mindeudesivir hydrobromide (MINDEWEI) for COVID-19, and ongericimab (JUNSHIDA) for hypercholesterolemia. All four commercialized products were included in China's National Reimbursement Drug List (2025 edition).
3. Licensing and milestone payments: Junshi receives upfront, milestone, and royalty payments from international partners including Coherus (US/Canada), Hikma (MENA), Dr. Reddy's (21 countries), LEO Pharma (EU), and others. The company raised approximately RMB 940 million through H-share placing in June 2025.
4. Capital raising: The company raised approximately RMB 940 million through a successful placing of new H shares in June 2025, ending the year with approximately RMB 3,195 million in cash and financial products.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels4 records

Core offering

Shanghai Junshi Biosciences discovers, develops, manufactures, and commercializes innovative therapeutic biologics — monoclonal antibodies, bispecific antibodies, antibody-drug conjugates, and siRNA drugs — across oncology, autoimmune, chronic metabolic, and infectious disease indications. Its flagship product, the anti-PD-1 monoclonal antibody toripalimab (TUOYI/LOQTORZI), is approved in 13 indications in Chinese Mainland and over 40 countries and regions, with four commercialized products (toripalimab, adalimumab biosimilar JUNMAIKANG, mindeudesivir MINDEWEI, ongericimab JUNSHIDA) all covered under China's 2025 National Reimbursement Drug List.

Differentiator

Problem solved

Functional benefit

Brands

• 拓益® (TUOYI®): Brand name for toripalimab in China
• LOQTORZI™
• ZYTORVI®
• 君迈康® (JUNMAIKANG®)
• 民得维® (MINDEWEI®)
• 君适达® (JUNSHIDA®)

Products and services

• Toripalimab (TUOYI/LOQTORZI/ZYTORVI) First Chinese-developed anti-PD-1 monoclonal antibody, sold as TUOYI® in China, LOQTORZI™ in US/EU/UK, and ZYTORVI® in India; covered under China's NRDL 2025 across multiple oncology indications including melanoma, RCC, TNBC, NSCLC, ESCC, NPC, urothelial carcinoma, SCLC, and HCC.
• Adalimumab biosimilar (JUNMAIKANG) TNF-α inhibitor biosimilar to adalimumab; used to treat rheumatoid arthritis and other autoimmune/inflammatory diseases; covered under China's NRDL 2025.
• Deuremidevir Hydrobromide (MINDEWEI, VV116) Oral nucleoside analog RdRp inhibitor for COVID-19 treatment; approved in China and Uzbekistan and covered under NRDL 2025.
• Ongericimab (JUNSHIDA, JS002) Anti-PCSK9 monoclonal antibody for primary hypercholesterolemia and mixed dyslipidemia; first domestically developed PCSK9 inhibitor in China and the only domestic PCSK9 inhibitor covered under NRDL 2025 for statin-intolerant patients.
• Toripalimab + Disitamab Vedotin (Immuno+ADC combination) Combination of Junshi's toripalimab with RemeGen's disitamab vedotin ADC for first-line treatment of HER2-expressing advanced urothelial carcinoma; the first approved domestic 'immuno+ADC' combination therapy in China.
• JS001sc (Toripalimab Subcutaneous Injection) Subcutaneous formulation of toripalimab enabling shorter administration time versus IV infusion across 12 oncology indications; first domestic anti-PD-1 subcutaneous formulation to enter marketing application stage in China.

Quantifiable outcome

• NEOTORCH Phase III: 60% risk reduction in disease recurrence, progression, or death (HR=0.40) in stage II-III NSCLC perioperative treatment with toripalimab + chemotherapy vs chemotherapy alone; 501 patients enrolled.
• +5 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Eight partnerships are on record, tiered core, key and regional.

• Antengene CorporationcoreStrategic or Co-development Partner · 25 February 2026Clinical collaboration to evaluate combination of Antengene's ATG-037 (oral CD73 inhibitor) with Junshi's JS207 (PD-1/VEGF bispecific antibody) in solid tumor patients in Mainland China. Targets a 'triple-axis' approach modulating immune checkpoint signaling, angiogenesis, and adenosine-mediated immunosuppression. Prior Phase I data: ATG-037 achieved 33.3% ORR in CPI-resistant melanoma and 21.4% ORR in CPI-resistant NSCLC; JS207 achieved 58.1% ORR in first-line PD-L1+ NSCLC.
• LEO Pharma A/SkeyChannel Partner/ Reseller/ Distributor · 1 January 2025Distribution and marketing partnership for toripalimab in the EU, EEA, Switzerland, and UK. LEO Pharma commercializes toripalimab (under its approved trade name) in these territories. This is a key partnership for Junshi's European market access strategy following EMA approval of toripalimab for NPC and ESCC in June 2023.
• Rxilient Biotech (康联达)regionalChannel Partner/ Reseller/ Distributor · 1 January 2023Joint venture established January 2023 for co-development and co-commercialization of toripalimab in Southeast Asia. Regulatory approvals obtained: Singapore HSA approval for NPC 1L (March 2025), Singapore ESCC approval (February 2026), Malaysia NPC approval (March 2026).
• RemeGen Co., Ltd. (荣昌生物)coreStrategic or Co-development PartnerCo-development partnership resulting in the world's first approved domestically-made 'immuno+ADC' combination therapy. Toripalimab combined with RemeGen's disitamab vedotin (ADC) approved in China (May 2026) for first-line HER2-expressing advanced urothelial carcinoma. The RC48-C016 Phase III study achieved dual primary endpoints (PFS and OS) published in NEJM and presented at ESMO 2025.
• Coherus BioScienceskeyChannel Partner/ Reseller/ DistributorExclusive licensing agreement for development and commercialization of toripalimab in the United States and Canada. Toripalimab received FDA approval in May 2023 (US trade name: LOQTORZI™), making it the first Chinese-developed innovative biologic approved by the FDA.
• Dr. Reddy's LaboratoriesregionalChannel Partner/ Reseller/ DistributorPartnership to develop and commercialize toripalimab in 21 countries internationally. Announced April 2023. Dr. Reddy's handles regulatory filings and commercialization in partner territories.
• Hikma PharmaceuticalsregionalChannel Partner/ Reseller/ DistributorExclusive licensing agreement for development and commercialization of toripalimab in the Middle East and North Africa region. Announced October 2022.
• Academic and healthcare institutionscoreOthersCollaborative clinical research with leading institutions including: Shanghai Chest Hospital (Prof. Shun Lu for NEOTORCH), Beijing Cancer Hospital (Prof. Jun Guo for RC48-C016), Peking University People's Hospital (Prof. Jianzhong Zhang for roconkibart Phase III), Hunan Cancer Hospital (Prof. Lin Wu for JS001sc Phase III), and others. R&D investment of RMB 13.42 billion reported in 2025 ESG report.

Scale indicators13 records

Recent moves11 records

Expansion highlights6 records

Broad incumbents

• Regeneron Pharmaceuticals: Regeneron is a global biopharmaceutical company with a proprietary antibody platform (VelocImmune) that has produced multiple approved biologic drugs across oncology, ophthalmology, and immunology. As a comparable multi-modality biologics platform company with bispecific (linvoseltamab, odronextamab) and ADC ambitions, Regeneron is a broad incumbent comparable on platform breadth and innovation cadence.
• Coherus BioSciences: Coherus is a US biopharmaceutical company that holds the exclusive license for toripalimab commercialization in the US and Canada (LOQTORZI). While not a direct technology peer, Coherus shares the immuno-oncology commercial focus and is Junshi's most important US commercial partner.
• Hansoh Pharmaceutical Group: Hansoh is a leading Hong Kong-listed Chinese innovative pharmaceutical company with a broad pipeline of innovative biologics including mAbs and ADCs. As a diversified Chinese pharma innovator, Hansoh is a broad incumbent with overlapping R&D investment scale and NRDL commercial footprint.
• Sino Biopharmaceutical Limited: Sino Biopharm is a major Hong Kong-listed Chinese pharmaceutical conglomerate with a broad portfolio of innovative biologics, biosimilars, and small-molecule drugs. It is a broad incumbent Chinese pharma peer with overlapping therapeutic areas in oncology and chronic disease biologics.
• Jiangsu Hengrui Pharmaceuticals: Hengrui is China's largest innovative pharmaceutical company with multiple approved PD-1 antibodies (camrelizumab) and a broad biologics pipeline. As a diversified incumbent with much larger scale than Junshi, Hengrui is a broad incumbent competitor across PD-1, ADCs, and autoimmune biologics.

Direct peers

• Akeso, Inc. Akeso is a Hong Kong-listed Chinese biopharmaceutical company that develops bispecific antibodies including ivonescimab (PD-1/VEGF), the closest direct competitor to Junshi's JS207 (also PD-1/VEGF). Both companies are dual-listed Chinese biotechs targeting next-generation immuno-oncology with bispecific platforms.
• RemeGen Co., Ltd. RemeGen is a Hong Kong-listed Chinese biotech that developed disitamab vedotin, an ADC partnered with Junshi for the toripalimab + disitamab vedotin combination in HER2-expressing urothelial carcinoma. As both an ADC developer and co-development partner, RemeGen is a direct peer in the immuno+ADC space.
• Innovent Biologics: Innovent is a Hong Kong-listed Chinese biopharmaceutical company that commercializes sintilimab (TYVYT), a competing anti-PD-1 monoclonal antibody directly rivaling toripalimab in the China NRDL market. Both companies are leading Chinese innovators with multi-modality biologics pipelines and international expansion strategies.
• BeiGene: BeiGene is a global oncology-focused Chinese biotech dual-listed on Nasdaq and HKEX with tislelizumab (TEVIMBRA), a competing anti-PD-1 monoclonal antibody. It shares Junshi's profile of an innovative Chinese oncology biotech with FDA-approved biologics, broad global commercial reach, and substantial R&D investment.

Emerging players

• Cstone Pharmaceuticals: CStone is a Hong Kong-listed Chinese oncology biotech focused on immuno-oncology with multiple clinical-stage assets including PD-1 and bispecific antibodies. It is an emerging Chinese oncology innovator with overlapping pipeline targets and similar NRDL-driven commercial dynamics as Junshi.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments10 records

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

Frequently asked questions about Shanghai Junshi Biosciences