Analysis of china's pharmaceutical project trading trends in 2019.

In 2020, the spread of new crown pneumonia around the world, to the normal life of mankind brought a huge impact, the pharmaceutical industry's attention has also reached its peak, in recent years, the domestic round after round of pharmaceutical reform policy, just concluded the third round of volume procurement to China's pharmaceutical industry has brought a new baptism, loss of the market share of drugs, resulting in a serious decline in corporate profits, some pharmaceutical enterprises face difficulties.
homogenization of domestic pharmaceutical enterprises is serious, and innovation ability needs to be improved urgently.
the long time it takes to develop innovative drugs, how to build competitive pipelines in a relatively short period of time and transform the enterprise is a challenging issue.
Many domestic pharmaceutical companies have entered a new transition period, in order to enrich the research and development pipeline, open a new "buy and buy" road, innovative drug transactions will become a future Chinese enterprises a "new normal."
with the help of the Pharmaceutical Rubik's Cube NextPharma® database, this paper combs through and analyzes the relevant trading projects of Chinese companies in 2019, and focuses on innovative drug projects, systematically analyzing them from the dimensions of trading enterprises, projects, diseases, etc., with the aim of exploring the new trends of innovative drug development in China under the new situation.
one. Antibodies, Oncology Immunity Early Project is a hot spot in 2019 Chinese companies in pharmaceutical projects 128 transactions, the total amount of disclosed transactions amounted to 11.08 billion U.S. dollars, involving 172 projects;
according to the research and development stage of innovative drug projects, early projects are favored, including 49 preclinical projects (40%), 6 declared clinical projects (5%), 23 phase I clinical projects (19%).
Data Source: NextPharma® Pharmaceuticals Trading 2019 trading innovative drug types to chemical drugs, antibody drugs mainly, the popular targets are PD (L) 1, CD19 and so on, the vast majority of targeted drugs, tumor immunity to T-cell immunomodulants.
popular target PD(L)1, CD19 related projects to dual-specific antibodies, CAR-T cell therapy mainly.
PD(L)1 is one of the most popular targets in the field of cancer immunotherapy, and the dynamics of related products and enterprises have been paid close attention to in recent years.
Junshi, Xinda, Hengrui, Baiji Shenzhou is the first echelon of PD-1 drug development in China, there are currently more than 6 types of tumor adaptive disorders approved for market or into the key clinical.
-specific antibodies are bringing new disruptive changes to tumor therapy, and their breakthrough in B-cell non-Hodgkin's lymphoma has attracted industry attention, so the trade in dual-resistance programs is fast becoming hot.
in the field of dual resistance of domestic representative enterprises are mainly Baiji Shenzhou, Corning Jerry, Xinda Bio, etc. , enterprises in the number of projects and development progress in the first echelon.
data source: NextPharma® Pharmaceutical Transactions From the distribution of disease areas of innovative drug projects, mainly concentrated in the field of oncology, immunization, infection, accounting for a total of 71%.
has long been the most active area of the trade, which is inexplyable from the clinical needs of the disease, the reform of the medical review and approval policy.
strong demand for innovative cancer drugs in China will further boost project transactions in this area.
two. Chinese enterprises around the technology platform of the license out transactions more and more according to the main transaction subject to carry out the main business of the region, the 2019 pharmaceutical project transactions are divided into foreign transfer to domestic (license in), domestic to domestic, domestic to foreign (license out) three categories.
in 2019, Chinese companies related to pharmaceutical projects transactions mainly in license in, a total of 82, of which 74% of innovative drug projects, domestic and domestic innovative drug projects accounted for 76%, license out of the trading projects of innovative drugs accounted for 50%, technology accounted for 35%.
overall, there are two major trends in China's pharmaceutical trade: more and more transactions to introduce innovative drug projects into China, and more transactions around new technology platforms.
data source: NextPharma®Pharma Transactions Analysis of the transaction found that the disease area of the trading project was mainly concentrated in the field of oncology (58%) and immunity (7%);
target dual-specific antibody programs introduced by the chinese government are also common in Clinical Phase I, mainly in 2019, the introduction of Amgen in Baiji Shenzhou a number of innovative projects.
2019, Chinese companies will introduce projects such as First In Class or Best In Class, involving a variety of drug types, including mono-resistance, dual-resistance, ADC, and are focused on the field of oncology, with innovation consistent with international cutting-edge levels.
, Baiji Shenzhou has expanded its research and development pipeline to 25 plus molecules through nine external cooperations.
these projects will complement each other with Baiji Shenzhou's own research and development projects for Reilly Zhu monoanti and Zebutini, enriching pipelines and expanding the field of disease.
data source: NextPharma® Pharmaceuticals Deal III. 2019 Innovative Drug Trading TOP10 This paper combs through the 2019 Chinese company's Innovative Drug Project Transactions from the perspective of down payment and total amount.
From the down payment TOP10 innovative drug transactions, can be involved in the domestic enterprises into three categories: 1) the new biotech company, has been listed on the NASDAQ or Hong Kong stocks, such as Reding Pharmaceuticals, Baiji Shenzhou, Tiandi Bio.
2) traditional pharmaceutical companies, established for many years, around 2010 domestic market, such as Xinlitai, Xiang Xue Pharmaceuticals, Fosun Pharmaceuticals.
3) start-up pharmaceutical companies, set up around 2017, some in the fund-raising stage, such as Yunding Xinyao, Jingdong Pharmaceuticals.
Source: NextPharma®The transferor of the 2019 down payment Top1 deal is Yunding Xinyao, a drug that treats mTNBC's First in class antibody drug ADC, which was approved for sale in the United States in April 2020. founded in 2017,
Yunding Xinyao completed a $310 million round of C financing on June 5, 2020, one of the largest financings completed by unre listed companies in China's healthcare sector since the outbreak, and the largest financing record for an unst listed company in the biopharmaceutical sector in the Asia-Pacific region so far this year.
July 19, Yunding Xinyao submitted a prospecto to the Hong Kong Stock Exchange to apply for a listing on the main board, with Goldman Sachs and Bank of America Securities as co-sponsors.
data source: NextPharma ® pharmaceutical deal IV. Reding Pharmaceuticals is the benchmark of BD trading of Chinese pharmaceutical enterprises domestic "project introduction" as a core business model and to achieve the ultimate enterprise non-Reding Pharmaceuticals.
founded at the end of 2014, the CFDA introduced sweeping reforms the next year to speed up the drug approval process and create ample opportunities for new drugs from abroad to come to China.
promoted by this policy, a large amount of private capital poured into China's biotechnology industry.
September 2017, Reding Pharmaceuticals successfully raised $172.5 million in a successful NASDAQ IPO, which has attracted widespread attention from the biopharmaceutical industry at home and abroad.
Redding Pharmaceuticals' rapid listing is closely related to its business model, which adopts the more popular VIC model (VC-IP-CRO) in China and the Asia-Pacific region, i.e., the combination of intellectual property rights, research and development outsourcing services, venture capital, is a "light assets and heavy intelligence" business operation model, can build innovative pharmaceutical product line in a short period of time.
with this "license-in" model, Redding Pharmaceuticals has rapidly built more than 15 drug candidates, conducted more than 20 clinical trials, and achieved the listing of PARP inhibitor Nirapali in Hong Kong, China, Macau and Chinese mainland, as well as the listing of cancer electric field therapy in Hong Kong and Chinese mainland.
"license-in" model not only accelerates the pace of pharmaceutical companies to build product pipelines, but also attracts the participation of many investors.
The first "crab eater" to use this model to quickly build product pipelines and market to obtain cash flow and capital favor, and then use these funds to carry out the "introduction and self-study" two-track model, to achieve the "from the introduction to the creation" breakthrough, is a shortcut.
, whether from the financial point of view or from the policy point of view, the current Chinese pharmaceutical enterprises are in the best time for transformation and innovation.
capital market has increased the liquidity of funds in the pharmaceutical industry, rich transaction funds have contributed to the growing scale of transactions, and regulatory aspects, NMPA has accelerated drug approval, speeding up the time limit for drug approval.
, the domestic pharmaceutical companies good commercialization team to build further accelerate the take-off of enterprises.
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