IBI-310 is a monoclonal antibody commercialized by Innovent Biologics, with a leading Phase III program in Metastatic Hepatocellular Carcinoma (HCC). According to Globaldata, it is involved in 15 clinical trials, of which 4 were completed, 6 are ongoing, 3 are planned, and 2 were terminated. GlobalData uses proprietary data and analytics to provide a complete picture of IBI-310’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for IBI-310 is expected to reach an annual total of $34 mn by 2039 globally based off GlobalData’s Revenue Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
IBI-310 Overview
Ipilimumab biosimilar (IBI-310) is under development for the treatment of advanced, recurrent or metastatic non-small-cell lung cancer(NSCLC), unresectable or relapsed or metastatic advanced Biliary tract cancer, metastatic solid tumors including advanced hepatocellular carcinoma, recurrent and metastatic nasopharyngeal carcinoma, liver cancer, cervical cancer, renal cell carcinoma, EBV-positive advanced gastric or gastroesophageal junction (GEJ) adenocarcinoma and colon cancer. The drug candidate is administered through intravenous route. It acts by targeting cytotoxic T-lymphocyte protein 4 receptor (CTLA4). It was also under development for the treatment of metastatic melanoma, acral melanoma and metastatic colorectal adenocarcinoma.
Innovent Biologics Overview
Innovent Biologics is a biopharmaceutical company that carries out the research, development and manufacturing of monoclonal antibodies. It provides products for various diseases such as metabolic, cancer, autoimmune diseases and other therapeutic areas. The company’s oncology products include sintilimab injection, bevacizumab injection, rituximab injection, pemigatinib, olverembatinib, ramucirumab, and others. Its autoimmune drugs are adalimumab injection, IBI-353, IBI-112 and IBI-314, among others. The company’s metabolic and ophthalmology products include IBI-306, IBI-362, IBI-302, IBI-324, IBI-311
The company reported revenues of (Renminbi) CNY4,556.4 million for the fiscal year ended December 2022 (FY2022), an increase of 6.7% over FY2021. The operating loss of the company was CNY2,068.8 million in FY2022, compared to an operating loss of CNY2,579.3 million in FY2021. The net loss of the company was CNY2,179.3 million in FY2022, compared to a net loss of CNY2,728.8 million in FY2021.
For a complete picture of IBI-310’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.
The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.
