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    1801   KYG4818G1010

INNOVENT BIOLOGICS, INC.

(1801)
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Delayed Hong Kong Stock Exchange  -  04:08 2022-08-17 am EDT
35.00 HKD   -3.45%
08/10Sanofi and Innovent Biologics enter strategic collaboration to accelerate development of oncology medicines and expand presence in China
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08/10Innovent Announces Phase 2 Clinical Study of Picankibart in Chinese Patients with Moderate-to-Severe Plaque Psoriasis Met Primary Endpoint
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08/09UBS Adjusts Innovent Biologics' Price Target to HK$42 From HK$39.30, Keeps at Buy
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China's Innovent Biologics secures over $300 million investment from Sanofi

08/04/2022 | 08:37pm EDT
FILE PHOTO: Sanofi full-year results

(Reuters) - Innovent Biologics Inc said on Friday Paris-based Sanofi SA would invest HK$2.42 billion ($307.88 million) in the biopharmaceutical group to jointly develop two cancer drugs in China.

The all-cash investment by Sanofi unit Sanofi Foreign Participations B.V. will be at a price of HK$42.42 per Innovent share, representing a premium of about 29% to the stock's last close.

Innovent said it had also entered into a licence agreement with Sanofi Foreign Participations for the commercialisation of the two oncology medicines.

The Jiangsu, China-based company said SAR408701, or tusamitamab ravtansine, would be used to treat lung, gastric and other cancers, while SAR444245, or non-alpha IL-2, was under phase-2 studies for skin cancer, head and neck tumours, among others.

Sanofi will receive up to 140 million euros ($143.44 million) in milestone payments and royalties on net sales of the two drugs in China upon new drug application approvals, Innovent said.

($1 = 7.8496 Hong Kong dollars)

($1 = 0.9760 euros)

(Reporting by Upasana Singh in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
INNOVENT BIOLOGICS, INC. -3.45% 35 Delayed Quote.-24.87%
SANOFI -5.68% 81.67 Real-time Quote.-7.80%
All news about INNOVENT BIOLOGICS, INC.
08/10Sanofi and Innovent Biologics enter strategic collaboration to accelerate development o..
AQ
08/10Innovent Announces Phase 2 Clinical Study of Picankibart in Chinese Patients with Moder..
CI
08/09UBS Adjusts Innovent Biologics' Price Target to HK$42 From HK$39.30, Keeps at Buy
MT
08/08Innovent Biologics, Inc. Announces First Patient Dosed in Phase 1 Study of IBI324 (VEGF..
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08/05Nomura Adjusts Innovent Biologics' Price Target to HK$45.38 From HK$43.75, Keeps at Buy
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08/05France's Sanofi to Invest $307 Million in Chinese Biopharma Innovent Under Cancer Drug ..
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08/05Innovent Biologics' Q2 Revenue Reaches $148 Million; Shares Gain 9%
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08/05Innovent Biologics, Sanofi Sign Strategic Multi-Program Collaboration, License Deal; Sh..
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08/04China's Innovent Biologics secures over $300 million investment from Sanofi
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08/04Sanofi, Innovent Biologics to Collaborate on Oncology Medicines in China
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Financials
Sales 2022 5 285 M 779 M 779 M
Net income 2022 -2 175 M -321 M -321 M
Net cash 2022 4 813 M 710 M 710 M
P/E ratio 2022 -21,3x
Yield 2022 -
Capitalization 44 502 M 6 563 M 6 563 M
EV / Sales 2022 7,51x
EV / Sales 2023 5,80x
Nbr of Employees 5 568
Free-Float 92,5%
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Mean consensus BUY
Number of Analysts 25
Last Close Price 30,26 CNY
Average target price 41,92 CNY
Spread / Average Target 38,5%
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Managers and Directors
De Chao Yu Chairman & Chief Executive Officer
Yong-Jun Liu President
Hao Xi Ede Chief Financial Officer & Executive Director
Jessie Chen Chief Medical Officer
Qin Wei Zhou Chief Operations Officer
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