"Super dark horse" Rongchang Bio is about to launch A+H. What is the internal engine?

In one go, following the successful landing of the Hong Kong stock market, Rongchang Biotech will IPO on A-shares
.

Recently, Rongchang Bio, once known as the "super dark horse" in China's biopharmaceutical industry, issued a corporate announcement saying that the company has completed the registration of A-share issuance, and the China Securities Regulatory Commission has approved the company's A-share issuance registration on January 11, 2022.
apply
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The largest biopharmaceutical IPO, with a compound growth rate of 46.
70% in R&D investment

The largest biopharmaceutical IPO, with a compound growth rate of 46.
70% in R&D investment

Rongchang Bio is a global innovative biopharmaceutical company established in July 2008, focusing on the discovery, development and commercialization of therapeutic antibody drugs such as antibody drug conjugates, antibody fusion proteins, monoclonal antibodies and double antibodies
.
In November 2020, Rongchang Bio was listed on the Hong Kong Stock Exchange and raised approximately RMB 3.

91 billion, making it the largest biopharmaceutical IPO company in the world that year

Since 2008, Rongchang Bio has been targeting the field of major diseases, relying on the three professional core technology platforms of antibody and fusion protein platform, antibody drug conjugate platform and bifunctional antibody platform created by itself; forming an integrated, end-to-end systematic drug development capabilities, and developed a batch of innovative drugs with significant clinical value
.

According to the prospectus, as of July 31, 2021, Rongchang Biotech has been granted 64 patents related to core technology platforms, including 36 for antibody and fusion protein platforms and 28 for antibody-drug conjugate (ADC) platforms
.

In addition, Rongchang Bio has always maintained and increased high R&D investment.
In recent years, the compound annual growth rate of R&D investment has reached 46.
70%.
From 2018 to the first half of 2021, R&D investment was 216 million yuan, 352 million yuan, and 466 million yuan respectively.
and 327 million yuan
.

It is worth mentioning that Rongchang Bio has won Yaozhi.
com's "Top 100 Comprehensive Drug Research and Development Strength Rankings in China" and "Top 50 Chinese Biological Drug Research and Development Strength Rankings" for three consecutive years
.

It is worth mentioning that Rongchang Bio has won Yaozhi.
com's "Top 100 Comprehensive Drug Research and Development Strength Rankings in China" and "Top 50 Chinese Biological Drug Research and Development Strength Rankings" for three consecutive years
.

2 blockbuster products listed in medical insurance

2 blockbuster products listed in medical insurance

First medical insurance prescription issued recently

First medical insurance prescription issued recently

At present, Rongchang Bio has 2 products approved for the market, namely tacitabine and vidicitumumab, and these two products have successfully passed the medical insurance negotiation and entered the national medical insurance in 2021, and issued the first medical insurance prescription recently.

Taitacept (RC18, trade name: Taiai) is the world's first dual-target biologic drug approved for the treatment of systemic lupus erythematosus
.
It is a TACI-Fc fusion protein composed of the extracellular domain of the human transmembrane activator and calcineurin ligand-interacting factor (TACI) receptor and the crystallizable fragment (Fc) of human immunoglobulin G (IgG).

) domain composition

Taitahip (RC18, trade name: Taiai)

In March 2021, the drug was approved by the NMPA for active, autoantibody-positive systemic lupus erythematosus (SLE) adult patients with high disease activity on top of conventional therapy
.
In addition, tetacept is being developed for the treatment of autoimmune diseases such as IgA nephritis, Sjögren's syndrome, neuromyelitis optica, multiple sclerosis and myasthenia gravis

.

Vidicitumumab (RC48, trade name: Aidixi) is the first antibody-conjugated drug (ADC) independently developed by a Chinese pharmaceutical company and approved for marketing.
It consists of a new humanized HER2 antibody, a cleavable It is composed of linker and small molecule cytotoxic drug with high toxicity and parakiller effect
.

Vidicitumumab (RC48, brand name: Aidixi)

Conditionally approved by the NMPA in June 2021 for the treatment of patients with HER2-overexpressing locally advanced or metastatic gastric cancer (including gastroesophageal junction adenocarcinoma) who have received at least 2 systemic chemotherapy; approved by the NMPA in January 2022 for the treatment Patients with locally advanced or metastatic urothelial carcinoma with prior systemic chemotherapy and HER2 (2+ or 3+) (immunohistochemical results)
.
In addition, the drug is being developed to treat cancers such as HER2-expressing breast cancer, biliary tract cancer and non-small cell lung cancer

.

More than 10 "First-in-Class" models under development, covering ADCs, mAbs and fusion proteins

More than 10 "First-in-Class" models under development, covering ADCs, mAbs and fusion proteins

In addition, according to the company's official website, Rongchang Bio has more than ten products under development, including PD-L1 monoclonal antibody, ADC, double antibody and fusion protein, with indications covering tumors, autoimmune diseases and ophthalmic diseases
.

Image source: Rongchang Bio official website

RC88 is a mesothelin (MSLN)-targeting ADC with a structure that includes an MSLN-targeting antibody, a cleavable linker, and a small molecule cytotoxin, and is currently undergoing Phase 1 clinical trials in patients with various advanced solid tumors
.

RC88

RC98 is a novel PD-L1 monoclonal antibody that has the potential to enhance efficacy in combination therapy with other Rongchang Biopharmaceuticals, such as vellicitumab and RC88
.

RC98

RC108 is a c-Met targeting ADC
.
c-Met is a receptor tyrosine kinase that activates a variety of different cell signaling pathways, including those related to proliferation, motility, migration, and invasion, by binding to its ligand, hepatocyte growth factor

.

RC108

RC118 is an ADC composed of a recombinant humanized anti-Claudin18.
2 mAb, a small molecule microtubule inhibitor monomethyl auristatin E, and a cathepsin-cleavable linker.
It has an optimized drug- Antibody ratio
.

RC118

RC138, RC148 and RC158 are three bispecific antibodies based on Rongchang Bio's Hibody technology platform
.

RC138, RC148 and RC158

RC28 is a vascular endothelial growth factor (VEGF)/fibroblast growth factor (FGF) dual-targeted innovative fusion protein, which is developed for the treatment of wet age-related macular degeneration, diabetic macular edema and diabetic retinopathy.
disease
.
Compared with single-target inhibitors, RC28 can more effectively inhibit fundus angiogenesis related to a variety of ophthalmic diseases, and the drug has pharmacokinetic properties with a longer half-life.

Reduce treatment costs and improve patient compliance with better treatment options

RC28

"ADC+Double Anti-Blood" dual engine, Rongchang Biotech broke out of the encirclement?

"ADC+Double Anti-Blood" dual engine, Rongchang Biotech broke out of the encirclement?

Speaking of this, we have to mention ADC drugs and double-antibody drugs separately
.
ADC and double antibody are popular research and development tracks in the pharmaceutical field

.

Public data shows that there are a total of 400 announced ADC candidates under research in the world, and there are 144 ADC candidates under research in China, accounting for 36%, ranking second in the world
.
Among them, 14 ADCs have been approved worldwide
.

Globally approved ADC drugs

Globally approved ADC drugs

Data sources: Yaozhi data, corporate announcements

Note: The data in the text are all manually searched.
If there are any mistakes, please leave a message to correct them
.

Since its establishment, Rongchang Bio has been concentrating on the layout of ADC drugs, and has built an ADC platform covering the entire process from drug discovery, process development to production.
It is one of the few domestic pharmaceutical companies with an ADC integrated technology platform
.

In addition, Rongchang Biology pays attention to differentiated competition when laying out the ADC track, and the target of action is different from the approved ADC drugs
.

Although only 4 double-antibody drugs have been approved , Roche's Faricimab (Ang-2/VEGF-A) and mosunetuzumab (CD20/CD3) and Johnson & Johnson's Teclistamab (CD3/BCMA) have already submitted regulatory applications.
And there are nearly 100 double-antibody projects under development in China alone
.
Although Rongchang Bio's double antibody progress is slow, it is currently in the early stage of research and development, but it is also worth looking forward to
.

Although only 4 anti-drugs have been approved so far

The world's approved dual anti-drugs

The world's approved dual anti-drugs

Data sources: Yaozhi data, corporate announcements