Ivonescimab is a monoclonal antibody commercialized by Akeso, with a leading Phase III program in Non-Small Cell Lung Cancer. According to Globaldata, it is involved in 27 clinical trials, of which 21 are ongoing, 5 are planned, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of Ivonescimab’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Ivonescimab is expected to reach an annual total of $288 mn by 2036 globally based off GlobalData’s Expiry 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.
Ivonescimab Overview
Ivonescimab (AK-112) is under development for the treatment of solid tumors like renal cell carcinoma, triple-negative breast cancer, small-cell lung cancer, hepatocellular carcinoma and squamous and non-squamous non-small cell lung cancer, recurrent or metastatic cervical squamous cell carcinoma, endometrial cancer, epithelial ovarian cancer, fallopian tube cancer, primary peritoneal cancer, recurrent or metastatic gastric or gastroesophageal junction adenocarcinoma, recurrent or metastatic biliary tract cancers, including intrahepatic cholangiocarcinoma, extrahepatic bile duct cancer, gallbladder cancer, recurrent or metastatic pancreatic ductal adenocarcinoma, esophageal squamous cell carcinoma, transitional cell carcinoma (urothelial cell carcinoma), colorectal cancer, metastatic colorectal cancer, non-small cell lung cancer, small-cell lung cancer, sarcomas and recurrent or metastatic head And neck cancer squamous cell carcinoma, oral cavity (mouth) cancer, oropharyngeal cancer, hypopharyngeal cancer, laryngeal cancer. The therapeutic candidate is a bi-specific antibody targeting programmed cell death protein 1 (PD-1) and VEGF. It is administered through intravenous and intravenous drip route. It is developed based on antibody analytical (ACE) platform.
Akeso Overview
Akeso is a clinical-stage biopharmaceutical company that focuses on in-house discovery and development of mono and bi-specific antibody drugs. The company’s product pipeline includes Ak101 and Ak111 targeting plaque psoriasis; Ak102 for the treatment of hypercholesterolemia; Ak104 against cancer; Ak105 for treating anlotinib; and Ak112 against solid tumors. It also offers kangfang integrated development platform (ACE Platform) which covers all drug R & D, including target verification, antibody discovery and also development functions. The company works in partnership with MERCK & CO Inc, Dawnrays Pharmaceutical Holdings Ltd, Sino Biopharmaceutical Ltd and China Biopharma. Akeso is headquartered in Zhongshan, Guangdong, China
The company reported revenues of (Renminbi) CNY4,526.3 million for the fiscal year ended December 2023 (FY2023), compared to a revenue of CNY837.7 million in FY2022. The operating profit of the company was CNY2,029.5 million in FY2023, compared to an operating loss of CNY1,378.9 million in FY2022. The net profit of the company was CNY2,028.3 million in FY2023, compared to a net loss of CNY1,168.4 million in FY2022.
For a complete picture of Ivonescimab’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.
