ImmuneOnco, focusing on developing new-generation tumor immunotherapeutic, will further accelerate the development of other promising drug candidates targeting checkpoints of innate and adaptive immunity.
Recently, the biotech firm ImmuneOnco (Chinese: 宜明昂科) submitted listing application on the main board of Hong Kong Exchanges and Clearing (Chinese: 香港交易所), with recommendations from Morgan Stanley (Chinese: 摩根士丹利) and China International Capital Corporation (Chinese: 中金公司).
According to its prospectus, ImmuneOnco earned CNY 1.2 million (USD 179,520) and CNY 5.1 million (USD 762,960) in revenue in 2020 and 2021 respectively. During the same period, its R&D expenditure was CNY 76 million (USD 11.4 million) and CNY 176 million (USD 26.33 million ) separately.
ImmuneOnco has received approval of immunotherapeutic drugs targeting checkpoints of T cells including PD-1/PD-L1, CTLA-4 and LAG-3. CD47/SIRPa was proven to be the most promising new-generation immunotherapy target for treating cancers.
IMM01, as the company’s core product and a novel proprietary immunotherapeutic molecule, works by inhibiting CD47 and potently promoting antibody-dependent cellular phagocytosis (ADCP). It activates macrophages to engulf tumor cells and present tumor antigens to T cells, thus directing potent immune responses against tumor cells. Further, IMM01 does not bind human red blood cells, which is a common side effect of other anti-CD47 compounds.
Founded in 2015, ImmuneOnco is dedicated to developing and commercializing novel immune-therapeutics for treating cancers. Its product pipelines include a dozen of drug candidates, among which five of them are under clinical phase, three under IND (Investigational New Drug) preparation phase.
The company’s competitors include I-Mab Biopharma (Chinese: 天境生物), JW Therapeutics (Chinese: 药明巨诺) and Elpiscience (Chinese: 科望医药).