Press Release: Keymed Biosciences Announces 2023 Annual Results and Business Updates

Dow Jones03-27

Financial and Business Highlights 

   -- Revenue amounted to RMB354 million for the year ended December 31, 2023, 
      mainly representing collaboration income from AstraZeneca in respect of 
      granting the relevant license; R&D expenses increased by RMB89 million to 
      RMB596 million; As at December 31, 2023, our time deposits, cash and cash 
      equivalents and bank wealth management products amounted to RMB2,719 
      million. 
 
   -- The production capacity of the production base in Chengdu has reached 
      18,600 litres in total, and all the designs thereof are in compliance 
      with the requirements of cGMP of the NMPA and FDA. 
 
   -- Continue to recruit talents to meet the growing needs of commercialized 
      sales of products, research and development, clinical, production and 
      operation of the Company.

About Keymed Biosciences Inc.

Keymed Biosciences Inc. (HKEX: 02162) focuses on the urgent unmet clinical needs, and is committed to providing high-quality, affordable, innovative therapies for patients in China and overseas. Keymed was founded by medical and scientific experts from world-renowned universities who have strong experience in the transformation of scientific and technological achievements to commercialization at home and abroad. The core leadership team includes the inventors of the first PD-1 antibody drugs that were pioneered and approved in the United States and China. The Company was listed on the main board of Hong Kong Stock Exchange on July 8, 2021.

To accelerate the efficiency of our research and discovery, we have established a fully-integrated platform encompassing all of the key functions in the biologic drug development. These include target validation, lead molecule discovery and optimization, preclinical evaluation, process development, translational research, clinical development and manufacturing. This integrated platform has enabled us to rapidly and cost-effectively identify, build, expand and advance our diversified pipeline of innovative and differentiated antibody-based therapies, including monoclonal antibodies, antibody drug conjugates (ADCs) and bispecific antibodies.

For more information, please visit www.keymedbio.com.

View original content:https://www.prnewswire.com/news-releases/keymed-biosciences-announces-2023-annual-results-and-business-updates-302099935.html

SOURCE Keymed

/CONTACT: Jennie Zhao, jinzhao@keymedbio.com, +86 18611841767; Xiaoman Liu, xiaomanliu@keymedbio.com, +86-13689033375

(END) Dow Jones Newswires

March 26, 2024 13:16 ET (17:16 GMT)

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