On July 15, Sino Biopharm (1177.HK) made a major announcement that it will acquire 100% of LaNova Medicines Ltd. for a net consideration of approximately US$500 million. Upon completion of the acquisition, LaNova Medicines will become a wholly-owned subsidiary of Sino Biopharm. The main R&D and management team of LaNova Medicines, along with its highly regarded bispecific antibody and Antibody-Drug Conjugate (ADC) technology platforms, will join Sino Biopharm to further accelerate the company's comprehensive innovation and international business.

 

As a world-leading innovative drug R&D company, LaNova Medicines has an outstanding and efficient R&D team and an internationalized innovative pipeline. In just over five years since its establishment, it has achieved remarkable R&D results, particularly in filling multiple clinical gaps in areas such as lung cancer, gastrointestinal cancers, and autoimmune diseases, bringing new hope to numerous patients. The addition of LaNova Medicines will significantly enhance the company's core competitiveness and international influence in the field of innovative cancer therapy, bringing better treatment options to cancer patients worldwide.

 

Differentiated Bispecific Antibody/ADC Technology Platforms to Power Innovative Cancer Drugs

 

LaNova Medicines focuses on the R&D of innovative biologics with First-in-Class (FIC) and Best-in-Class (BIC) potential. It has established world-leading antibody discovery and ADC technology platforms, including a tumor microenvironment-specific antibody development platform (LM-TME), an antibody development platform for difficult-to-drug targets (LM-Abs), a new-generation Antibody-Drug Conjugate platform (LM-ADC), and a T-cell Engager (TCE) platform (LM-TCE). Currently, eight assets, including the blockbuster products LM-299 (PD-1/VEGF bispecific antibody), LM-305 (GPRC5D ADC), LM-108 (CCR8 monoclonal antibody), and LM-302 (Claudin 18.2 ADC), are in clinical development, with about 20 other projects in the preclinical stage.

 

These are all innovative drugs with global FIC or BIC potential and international competitiveness. This acquisition will further strengthen Sino Biopharm's R&D capabilities in cutting-edge molecular modalities and tumor immunology, accelerating comprehensive innovative development.

 

Leveraging its differentiated technological capabilities, LaNova Medicines has become a leading domestic biotech company with both bispecific antibody and ADC platforms that have been recognized and validated by multinational corporations (MNCs). "We are very honored to join Sino Biopharm and look forward to working together to advance the R&D of innovative drugs. By leveraging Sino Biopharm's strong commercialization capabilities and global influence, we aim to bring more high-quality innovative drugs to the international market for the benefit of patients worldwide."

 

Global Innovation Strength Validated by MNCs, with Both Bispecific Antibody and ADC Platforms Securing Licensing Deals

 

Notably, LaNova Medicines' innovation capabilities have been recognized by several international pharmaceutical giants through two major licensing deals totaling nearly US$4 billion.

 

● In May 2023, LaNova Medicines granted AstraZeneca an exclusive global license for the research, development, and commercialization of LM-305 (anti-GPRC5D ADC) for an upfront payment of US$55 million and potential development and commercial milestone payments of up to US$545 million.

 

● In November 2024, LaNova Medicines granted MSD exclusive global rights for the development, manufacturing, and commercialization of LM-299 (PD-1/VEGF bispecific antibody) for an upfront payment and technology transfer milestone of US$888 million, plus up to US$2.4 billion in other milestone payments.

 

These two major out-licensing deals have demonstrated LaNova Medicines' robust innovation strength and international business potential. With the incorporation of LaNova Medicines, Sino Biopharm's reputation and innovation capabilities in the global pharmaceutical market will reach a new level. This acquisition will facilitate the faster, better, and more potential international collaborations for Sino Biopharm.

 

Highly Valuable FIC/BIC Pipeline Opens a New Chapter for the Innovative Drug Business

 

Upon completion of the acquisition, the newly included high-quality assets will greatly enrich Sino Biopharm's existing oncology pipeline, laying a solid foundation for a new round of performance growth:

 

● LM-299 (PD-1/VEGF bispecific antibody): A potential BIC, currently in Phase I clinical trials in China. LM-299 uses a tetravalent IgG-VHH structure, modifying the Fc end of the anti-VEGF antibody into two nanobodies targeting PD-1, enhancing the targeting specificity for both PD-1 and VEGF. It has shown excellent synergistic effects and safety in preclinical studies. The PD-1/VEGF bispecific antibody has shown good benefits in various solid tumors such as non-small cell lung cancer, colorectal cancer, gastric cancer, and hepatocellular carcinoma. Once successfully developed, this target has the potential to become a core product in the next generation of cancer immunotherapy.

 

● LM-305 (GPRC5D ADC): A potential FIC, currently in global Phase I clinical trials. Studies have shown that GPRC5D is specifically highly expressed in patients with Multiple Myeloma (MM) and is significantly associated with poor prognosis in MM patients, showing potential for first-line treatment. MM is characterized by being prone to relapse and difficult to cure, and it has huge global market potential.

 

● LM-108 (CCR8 monoclonal antibody): A potential FIC, currently in Phase II registrational clinical trials in China, with the most advanced global R&D progress. Two indications for LM-108 have been granted Breakthrough Therapy Designation (BTD) by the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) of China. For two consecutive years, in 2024 and 2025, it was selected for oral presentations at the American Society of Clinical Oncology (ASCO) annual meeting, demonstrating breakthrough efficacy and good safety in gastric cancer and pancreatic carcinoma[1,2]. Sino Biopharm is exploring combination therapy regimens for LM-108 in multiple tumors, which could provide a new treatment option for patients who have failed PD-1/PD-L1 therapy, becoming a next-generation cancer immunotherapy.

 

● LM-302 (Claudin 18.2 ADC): A potential FIC, currently in Phase III registrational clinical trials in China. LM-302 has been granted BTD by the CDE for the treatment of Claudin 18.2-positive locally advanced or metastatic gastric/gastroesophageal junction (G/GEJ) adenocarcinoma in patients who have received two or more prior lines of systemic therapy. It has also received Investigational New Drug (IND) approval and Orphan Drug Designation (ODD) (for pancreatic carcinoma, gastric cancer, and gastroesophageal junction adenocarcinoma) from the US FDA. Clinical efficacy of LM-302 has been observed in patients with gastric cancer, pancreatic carcinoma, and biliary tract cancer, with clinical benefits also seen in patients with low expression of Claudin 18.2 and PD-L1.

 

In addition, LaNova Medicines has four other innovative oncology pipelines in the clinical stage: LM-101 (SIRP-α monoclonal antibody), LM-2417 (4-1BB/NaPi2b bispecific antibody), LM-24C5 (4-1BB/CEACAM5 bispecific antibody), and LM-168 (CTLA-4 tumor microenvironment-specific monoclonal antibody). There are also over 10 preclinical bispecific antibody/ADC projects, all targeting global FIC targets, expected to enter clinical trials within 1-2 years.

 

This acquisition represents a powerful strategic alliance. The core team members of LaNova Medicines will remain in place to further develop internationally competitive molecules, while Sino Biopharm will leverage its strengths in clinical, manufacturing, and commercialization to accelerate the translation of its innovative assets. We look forward to helping LaNova Medicines fully unlock its potential value through deep synergy and integration of both parties' advantageous resources, propelling Sino Biopharm towards its goal of becoming a world-class pharmaceutical company and benefiting global patients with more breakthrough therapies.

 

References:

[1] Jifang Gong, et al.Efficacy and safety of LM-108, an anti-CCR8 monoclonal antibody, in combination with an anti-PD-1 antibody in patients with gastric cancer: Results from phase 1/2 studies..JCO 42, 2504-2504(2024).

[2] Jifang Gong et al.Efficacy and safety of cafelkibart (LM-108), an anti-CCR8 monoclonal antibody, in combination with anti-PD-1 therapy in patients with pancreatic cancer: Results from phase 1/2 studies..JCO 43, 4010-4010(2025).

 

Declaration:

1. This press release is intended to facilitate the communication and exchange of medical information and is for reference by healthcare professionals only. It is not for advertising purposes.

2. The company does not recommend any drugs and/or indications.

3. The information contained in this press release is for reference only and cannot replace professional medical guidance in any way, nor should it be considered as a diagnosis or treatment recommendation. If you wish to understand specific information about disease diagnosis and treatment, please follow the advice or guidance of a doctor or other healthcare professional.

 

Forward-Looking Statements:

This press release contains certain forward-looking statements, including statements regarding the clinical development plans for [LM-299, LM-305, LM-108, LM-302, etc.], expectations of clinical benefits and advantages, commercialization outlook, the likelihood of clinical benefit for patients, and potential commercial opportunities. Words such as "expect", "believe", "continue", "may", "estimate", "hope", "intend", "plan", "potential", "predict", "project", "should", "will", "propose", and similar expressions are intended to identify forward-looking statements, but not all forward-looking statements contain these identifying words. These forward-looking statements are predictions or expectations made by the company based on currently available data and information, and actual results may differ materially from these forward-looking statements due to uncertainties or risks such as policy, R&D, market, and regulatory factors. Current or potential investors are advised to carefully consider the potential risks and should not place undue reliance on the forward-looking statements in this press release, which contain information only as of the date of this press release. Unless required by law, the company undertakes no obligation to update or revise any forward-looking statements in this press release as a result of new information, future events, or other circumstances.