The performance highlights the company’s strong operational resilience, driven by accelerating sales of core products and ongoing cost-efficiency measures. Despite short-term pressure on profitability, steady revenue expansion sets a solid foundation for a full-year earnings recovery.

Menhycia(R), the first MCV4 vaccine product in China, maintained robust sales during the period. The successful launch of iPneucia(R) (13-valent pneumococcal polysaccharide conjugate vaccine) also contributed considerable revenue to the Group. Meanwhile, international technology transfer and intermediate products sales have gradually emerged as new revenue growth drivers.

CanSinoBIO has developed a differentiated portfolio of bacterial vaccines, covering meningococcal, pneumococcal and DTcP vaccines. The company leverages five core technology platforms, including viral vector vaccines, synthetic vaccines, protein structure design and Virus-Like Particle (VLP) assembly, mRNA technologies, and formulation and delivery systems. This diversified pipeline helps mitigate the “single-product dependency” that has historically challenged traditional vaccine manufacturers.

Among its key products, Menhycia(R), China’s first domestically developed quadrivalent meningococcal conjugate vaccine, has continued to gain market traction following approval for expanded use in children up to six years old, driving steady gains in market penetration. Meanwhile, iPneucia(R), China’s first 13-valent pneumococcal conjugate vaccine using a dual-carrier system (CRM197 and tetanus toxoid), has ramped up since launch and emerged as a key growth driver.

In April, the company also received approval for Tripecia(R), an adsorbed acellular pertussis (three-component) combination vaccine (DTcP) for infants. Leveraging next-generation technology, the product fills a gap in the domestic market and further strengthens CanSinoBIO’s presence in the pediatric segment.

Beyond the infant market, CanSinoBIO is advancing a “life-course immunization (from infancy through old age)” strategy, expanding into adolescent and adult vaccines. Pipeline candidates, including adolescent and adult component Tdap vaccines (Tdcp) and a 24-valent pneumococcal conjugate vaccine, are progressing through development and clinical trials, aimed at broadening the company’s addressable market.

On the international front, the company continues to pursue a dual-engine strategy of innovation and global expansion, transitioning from product exports to a more integrated global model. Menhycia(R) has been launched and supplied in Indonesia, while manufacturing facilities for both Menhycia(R) and iPneucia(R) have obtained PIC/S GMP certification from Malaysia. This integrated approach, spanning product registration, localized manufacturing and technology transfer, is expected to unlock significant opportunities in overseas markets.

Looking ahead, with the continued ramp-up of core products and the gradual commercialization of its life-course vaccine pipeline, CanSinoBIO’s long-term value proposition may be poised for a re-rating, supported by both earnings’ growth and an expanding global footprint.

Reportedly, founded in 2017, Mabwell is a leading domestic innovative pharmaceutical enterprise, possessing premier innovative drug R&D capabilities and end-to-end whole-industry-chain capabilities that span from drug discovery to commercial sales. Since its establishment, the Company has been deeply engaged in therapeutic areas for major diseases such as oncology, immunology, ophthalmology, and orthopedics, and is committed to providing safer and more efficient innovative treatment solutions for patients worldwide.

Rich and Diversified Product Pipeline Builds Core Competitive Barriers

A rich and promising product portfolio serves as the core pillar for Mabwell’s steady development, as well as its key advantage in seizing first-mover opportunities in the market. With a long-term, deep-rooted presence in the innovative drug sector, the Company has built a diversified product pipeline featuring multiple categories and tiers. As of now, Mabwell has 4 commercialized products and 10 drug candidates: 1 in NDA stage,, 1 in preclinical stages, covering multiple high-potential therapeutic areas and supporting long-term growth.

Mabwell’s self-developed core product, 9MW2821, fully demonstrates the Company’s leading edge in the ADC field. 9MW2821 is the most advanced among all Nectin-4-targeting ADCs for urothelial carcinoma (“UC”) in China in terms of clinical development progress, and only second to the globally blockbuster drug Padcev. Meanwhile, it is also the first Nectin-4-targeting ADC globally to enter the pivotal Phase III clinical trials for cervical cancer (“CC”), and triple-negative breast cancer (“TNBC”), boasting extensive market potential.

Beyond 9MW2821, Mabwell continues to advance the R&D of ADC candidates targeting other novel targets and has built a comprehensive ADC pipeline portfolio. Its pipeline includes 7MW3711, an ADC specifically targeting B7-H3 (an immune checkpoint protein), and 7MW4911, an ADC specifically targeting CDH17. This layout further diversifies the Company’s footprint in oncology treatment and steadily consolidates its leading advantages in the ADC track.

Notably, Mabwell has also strategically prioritized the layout of product pipelines covering monoclonal antibodies (“mAbs”), TCE bispecific antibodies, fusion proteins and small molecule drugs, fostering a pattern of coordinated development across multiple product categories. Its R&D portfolio includes: 9MW3811, a humanized monoclonal antibody targeting IL-11 for the treatment of fibrosis -related diseases and cancers; 9MW1911, the first domestically developed drug candidate approved for clinical development in China targeting ST2; 9MW3011, a recombinant humanized TMPRSS6 targeting mAb among the leading TMPRSS6-targeting therapies in terms of development status globally; and 6MW5311, the world’s first LILRB4/CD3-targeted TCE bispecific antibody filed for clinical trials. These candidates keep expanding the boundaries of the Company’s innovative drug research and development.

Outstanding commercialization capabilities, expanding a global market footprint

Leveraging its fully integrated industry chain capabilities and forward-looking commercialization strategy, Mabwell (Shanghai) Bioscience Co., Ltd. has continued to deliver tangible commercialization outcomes. In 2025, the Company’s Junmaikang® obtained marketing approval in Indonesia, while Mailisheng® and Maiweijian were approved for commercialization in Pakistan, marking steady progress in its international commercialization efforts.

Since 2022, the Company has actively expanded overseas collaborations, entering into multiple landmark international partnership agreements and securing corresponding revenue-sharing arrangements. It has successfully penetrated emerging markets including Brazil, Indonesia, Saudi Arabia, and countries along the Belt and Road Initiative, establishing an extensive global commercial network.

In terms of global partnerships, Mabwell has further deepened its international presence. In January 2023, the Company entered into an exclusive licensing agreement with Disc Medicine for 9MW3011, under which it is entitled to receive up to US$412.5 million in upfront payments, milestone payments, and royalties. In June 2025, it reached an exclusive licensing agreement with Calico Life Sciences for 9MW3811, with total potential consideration exceeding US$600 million, including upfront, milestone, and royalty payments. In October 2025, the Company signed an exclusive licensing agreement with Kalexo Bio for a novel dual-target siRNA candidate drug, further expanding the breadth and depth of its international market collaborations.

Powerful Technology Platforms Lay a Solid Foundation for Innovation-Driven Growth

Powerful technology platforms serve as the core engine for sustained innovation at Mabwell, and are also pivotal to building differentiated competitive advantages. With deep commitment to technological R&D, the Company has established four core ADC technologies for which we possess proprietary intellectual property rights, providing strong support for the development of innovative drugs.

Among these, DARfinity is a self-developed site-specific conjugation process that enables precise drug molecule conjugation; IDconnect is an optimized design of linker molecules that enhances the stability of the linkage between the antibody and toxins; Mtoxin is a class of camptothecin-based novel toxic molecules that are used as the “warhead” in the ADC to kill the targeted cells, providing more potent target cell killing effects; LysOnly is an innovative structure that allows conditional release of toxins, effectively improving the overall safety and efficacy of ADC drugs.

These four proprietary technologies serve as the core pillars of our site-specific conjugation ADC development platform, synergistically enabling the Company to develop ADC products with better uniformity, stability, purity, and a superior efficacy and safety profile. This significantly improves pipeline R&D efficiency, allows rapid response to clinical and market demands, and continuously consolidates the Company's leading position in the ADC field.

In addition, Mabwell continues to develop and upgrade other core technology platforms, forming a multi-technology synergistic development system. These platforms include the integrated high-efficiency antibody discovery platform and the T-cell engager (TCE)-based bi/tri-specific antibody development platform, among others. The TCE-based bi/tri-specific antibodies developed on these platforms can simultaneously and specifically bind to tumor-associated antigens and the T-cell CD3 epitope, thereby laying a solid technical foundation for the Company's strategic positioning in the field of immunotherapy.

From an industry perspective, the global biopharmaceutical sector, as a core segment, has continued to gain momentum in recent years. The global oncology drug market grew from US$143.5 billion in 2019 to US$253.3 billion in 2024 with a CAGR of 12.0%, and is expected to further increase to US$375.9 billion, and US$548.2 billion in 2028, and 2032 respectively, with CAGRs of 10.4% from 2024 to 2028 and 9.9% from 2028 to 2032, respectively. This trend presents substantial growth opportunities for leading industry players like Mabwell, which possess core technologies and a globalized footprint.

Driven by in-house R&D, supported by integrated end-to-end capabilities across the entire industry chain, and guided by a long-term global strategy, Mabwell continues to advance steadily in the innovative pharmaceutical sector. Leveraging a robust product pipeline, strong technological expertise, and well-established commercialization capabilities, the Company has built a solid competitive position. Its successful listing in Hong Kong will further accelerate the development of its core products, enhance its commercialization strategy, and strengthen its core competitiveness. This, in turn, is expected to position the Company at the forefront of the biopharmaceutical wave, with strong long-term growth potential that merits close market attention.

SHENZHEN, Apr 27, 2026 - (ACN Newswire) - China Medical System Holdings Limited (“CMS” or the “Group”) is pleased to announce that, the Group through its wholly-owned subsidiary entered into an exclusive commercialization and supply agreement (the “Agreement”) with Pharmacosmos A/S for Iron Isomaltoside Injection (“Monofer®”) and Iron Dextran Injection (“Cosmofer®”) recently. In accordance with the Agreement, the Group has obtained an exclusive right to commercialize the products in the People’s Republic of China (for the purpose of this Agreement, excluding the Hong Kong Special Administrative Region, the Macau Special Administrative Region and Taiwan region). Pharmacosmos A/S will continue to manufacture and supply the products. The cooperation term shall be fifteen years from the effective date stipulated in the Agreement, which may be extended upon mutual agreement between the parties prior to expiry.

The two intravenous iron therapies under this cooperation are both originator products that have been approved for marketing in China and included in the China’s National Reimbursement Drug List (NRDL). Among them, Monofer® is an exclusive drug and the first third-generation intravenous iron therapy approved for marketing in China. It features an innovative and more stable matrix-like nanostructure and provides a superior safety profile[1]. Its single-dose full iron replenishment significantly reduces the number of infusions, enables faster improvement in hemoglobin levels and enhances clinical convenience. Another product, Cosmofer®, is currently the only intravenous iron therapy included in Category A of the NRDL and also the only one included in the National Essential Medicines List (NEML). With many years of accumulated clinical use, its efficacy and safety have been supported by accumulated clinical experience and published data.

The above two products will form a comprehensive intravenous iron product portfolio covering all channels and treatment scenarios, which can support meeting the clinical needs of different levels of healthcare institutions and different types of iron deficiency anemia (IDA) patients, providing more diversified, safe and effective treatment options for patients. Patients with iron deficiency (ID) and IDA are widely distributed across multiple clinical departments, including gastroenterology, cardiology, nephrology, obstetrics and gynecology, and orthopedics, which are all key specialty areas of the Group. The addition of the two products will generate efficient synergies with the Group’s existing marketed products in expert resources and academic promotion network, further strengthening the Group’s overall competitiveness in the field of anemia treatment, and is expected to have a positive impact on the Group’s performance.

More information about Monofer®

Monofer® was approved on 30 January 2021 for the treatment of iron deficiency in patients where oral iron preparations are ineffective, cannot be used, or where there is a clinical need for rapid iron supplementation. In 2023, Monofer® was included in the NRDL as a Category B reimbursable drug. Monofer® consists of nanoparticles with a stable, matrix-like structure composed of interchanging layers of iron atoms and short, linear isomaltose carbohydrates. This structure enables controlled iron release with low levels of labile iron, contributing to a favourable safety profile, including a low risk of hypersensitivity reactions and hypophosphatemia. Monofer® can be administered as a high-dose infusion of 1,000 mg or more in a single visit, whereas older therapies such as iron sucrose typically require repeated administrations of 100 to 200 mg. This enables full iron repletion in one treatment, reducing the need for multiple infusions, lowering the burden on patients and healthcare systems, and increasing infusion capacity. At the same time, the low risk of hypophosphatemia helps avoid complications such as fractures and supports recovery from fatigue, a key symptom of iron deficiency anaemia.

More information about Cosmofer®

Cosmofer® is a second-generation low-molecular-weight iron dextran injection. It was approved for marketing in Mainland China in 2003 and is indicated for patients with iron deficiency who cannot take oral iron preparations (such as those who are intolerant to oral iron or have unsatisfactory therapeutic outcomes). Cosmofer® also allows single-dose high-dose iron repletion. With many years of accumulated clinical use, its efficacy and safety have been supported by accumulated clinical experience and published data. Its dual status as a Category A NRDL-listed product and NEML supports its core role in iron supplementation in primary healthcare settings.

About Iron Deficiency and Iron Deficiency Anemia

ID and IDA are global health issues that commonly affect children, premenopausal women (particularly pregnant women) and the elderly. These conditions may impair the function of multiple organ systems, leading to a series of health problems such as growth retardation, behavioral disorders, cognitive impairment, reduced physical capacity, and peri-natal and peri-operative complications. They also significantly affect the prognosis of chronic diseases such as gastrointestinal diseases, chronic kidney disease, heart failure and tumors[2]. More than 1 billion people live with iron deficiency anaemia[3], making it one of the leading contributors to the global burden of disease[4]. Data from the Fourth National Nutrition Survey in China indicate that the prevalence of IDA among Chinese residents is 20.1%[5]. However, both patients and healthcare professionals have insufficient awareness of the disease. Less than 20% of patients with mild anemia receive diagnosis and treatment, while only about 50% of patients with severe anemia receive appropriate diagnosis and treatment[2]. This indicates significant underdiagnosis and undertreatment of ID/IDA. Iron supplementation is the standard treatment for ID/IDA and includes oral iron therapy and intravenous iron therapy. Intravenous iron therapy is an important option for patients who cannot tolerate oral iron, have inadequate response to oral therapy, require rapid iron repletion, or prefer full iron supplementation within one to two administrations[1,2,6]. However, due to insufficient awareness of IDA, patient adherence issues, hospitalization constraints, infusion convenience, and safety concerns regarding intravenous iron therapies, the clinical use of intravenous iron in China remains relatively conservative. A Chinese real-world study shows that the average total dose of iron sucrose used in IDA patients was approximately 511 mg, which was significantly lower than the target dose of 1,000 mg[2]. There is therefore a significant clinical need for intravenous iron therapies that offer high safety, strong demonstrated efficacy and single-dose full iron repletion. Monofer® and Cosmofer® together establish a comprehensive intravenous iron product portfolio covering multiple treatment scenarios, providing tiered treatment options for patients with iron deficiency anemia.

About Pharmacosmos A/S

Pharmacosmos A/S is a global leader in carbohydrate chemistry and innovative treatments for iron deficiency and iron deficiency anemia. Leveraging its deep expertise in carbohydrate chemistry and cell cycle biology, the company is committed to developing innovative therapies to address unmet patient needs, with a particular focus on iron metabolism and hematology-related diseases. Pharmacosmos A/S was founded in 1965 and is headquartered in Denmark, and employs more than 700 specialists from the United Kingdom, Ireland, the Nordic countries, Germany, the United States, Canada and China. With excellent product quality and strong clinical value, its core iron therapy products have been approved and widely used in multiple countries and regions worldwide, establishing strong technological capabilities and a solid market reputation.

About CMS

CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet medical needs.

CMS focuses on the global first-in-class (FIC) and best-in-class (BIC) innovative products, and efficiently promotes the clinical research, development and commercialization of innovative products, enabling the continuous transformation of scientific research into clinical practices to benefit patients.

CMS deeply engages in several specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to promote the in-depth development in its advantageous specialty fields, strengthening the competitiveness of the cardiovascular-kidney-metabolic/gastroenterology/ophthalmology/skin health businesses, bringing economies of scale in specialty fields. Among them, the skin health business (Dermavon) has become a leading enterprise in its field, and is proposed to be listed independently on the SEHK. Meanwhile, CMS continuously promotes the operation and development of its integrated R&D, manufacturing and commercialization chain in Southeast Asia and the Middle East, capturing growth opportunities in emerging markets to support the high-quality and sustainable development of the Group.

Reference:

1. Chinese Pharmacological Society Professional Committee of Drug‑induced Diseases, Guangdong Pharmaceutical Association. Expert consensus of clinical application and pharmaceutical care for intravenous iron agents (2024) [J]. Adverse Drug Reactions Journal, 2025, 27(3): 129-141. DOI: 10.3760/cma.j.cn114015⁃20240929⁃00070

2. Liao Minjing, Zhang Liansheng. Standardized diagnosis and treatment of iron deficiency and iron‑deficiency anemia [J]. Chinese Journal of Internal Medicine, 2023, 62(6): 722-727. DOI: 10.3760/cma.j.cn112138-20230210-00074.

3. Global Burden of Disease Collaborative Network. Global Burden of Disease Study 2019 (GBD 2019) Results. Seattle, United States: Institute for Health Metrics and Evaluation (IHME); 2020. Available from http://ghdx.healthdata.org/gbd-results-tool.

4. Pasricha SR, Tye-Din J, Muckenthaler MU, Swinkels DW. Iron deficiency. Lancet. 2021 Jan 16;397(10270):233-248.

5. Li Lijuan, Zhang Liansheng. Considerations on the standardized diagnosis and treatment of iron‑deficiency anemia [J]. National Medical Journal of China, 2021, 101(40): 3266-3270. DOI: 10.3760/cma.j.cn112137-20210609-01319.

6. Red Blood Cell Disease (Anemia) Group, Chinese Society of Hematology, Chinese Medical Association. Multidisciplinary expert consensus on the diagnosis, treatment and prevention of iron deficiency and iron deficiency anemia (2022 edition) [J]. National Medical Journal of China, 2022, 102(41): 3246-3256. DOI: 10.3760/cma. j.cn112137-20220621-01361.

CMS Disclaimer and Forward-Looking Statements

This press release is not intended to promote any products to you and is not for advertising purposes. This press release does not recommend any drugs, medical devices and/or indications. If you want to know more about the diagnosis and treatment of specific diseases, please follow the opinions or guidance of your doctor or other medical and health professionals. Any treatment-related decisions made by healthcare professionals should be based on the patient’s specific circumstances and in accordance with the drug package insert.

This press release which has been prepared by CMS does not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This press release has been prepared by CMS based on information and data which it considers reliable, but CMS makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this press release. Certain matters discussed in this press release may contain statements regarding the Group’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Group and the Company is not responsible for such third-party statements and projections.

Media Contact
Brand: China Medical System Holdings Ltd.
Contact: CMS Investor Relations
Email: ir@cms.net.cn
Website: https://web.cms.net.cn/en/home/

SHENZHEN, Apr 23, 2026 - (ACN Newswire) - China Medical System Holdings Limited (the “Group” or “CMS”) is pleased to announce that the New Drug Application (NDA) in China for the Seasonal Allergic Rhinitis (SAR) indication of MG-K10 (generic name: Comekibart Injection, “MG-K10” or the “Product”), a Class 1 innovative drug anti-IL-4Rα humanized monoclonal antibody injection, for which the Group holds co-development rights (excluding the indication of atopic dermatitis (AD)) and exclusive commercialization rights, was accepted by the National Medical Products Administration of China (NMPA) on 23 April 2026. The Product is proposed for the treatment of adult patients with moderate-to-severe seasonal allergic rhinitis whose symptoms remain inadequately controlled after treatment with intranasal corticosteroids.

The acceptance of the NDA represents an important milestone for the Group’s ophthalmology business, CMS Vision, as it expands its therapeutic focus from ophthalmology into the field of otolaryngology (ENT). It also marks another significant milestone in the Group’s research and development progress in the field of type 2 inflammatory diseases. If the Product is successfully approved for marketing, the Group will leverage its strong academic promotion capabilities and extensive commercialization network to accelerate the commercialization of the Product. It is also expected to further enhance the academic brand influence of CMS Vision in the relevant specialty areas and provide new momentum for the Group’s business growth.

BIC Potential: Dosing once every 4 weeks; Phase III study met the primary endpoint with a favorable safety profile

MG-K10 is an innovative long-acting anti-IL-4Rα humanized monoclonal antibody that simultaneously blocks the signaling pathways of the key type 2 inflammatory cytokines IL-4 and IL-13, thereby exerting immunomodulatory effects. It is being developed for the treatment of type 2 inflammatory diseases, including seasonal allergic rhinitis, asthma, atopic dermatitis (AD), prurigo nodularis, chronic obstructive pulmonary disease (COPD), chronic spontaneous urticaria (CSU), chronic rhinosinusitis with nasal polyps, and eosinophilic esophagitis. Currently marketed anti-IL-4Rα therapies require administration once every two weeks. MG-K10, with its longer half-life, enabling a once-every-four-weeks dosing regimen. It therefore has the potential to become the first long-acting anti-IL-4Rα monoclonal antibody to be marketed globally, with the potential to be best-in-class. MG-K10 has met the primary endpoint in a multicenter, randomized, double-blind, placebo-controlled Phase III clinical trial in adult patients with moderate-to-severe seasonal allergic rhinitis. The results of the Phase III study demonstrated that the primary endpoint achieved statistical significance, with significantly superior efficacy compared with the placebo group, and a favorable safety profile.

Focusing on Unmet Needs: ~250 million patients; 62% of moderate-to-severe patients remain inadequately controlled; long-acting breakthrough brings new treatment opportunities

Allergic rhinitis is a chronic inflammatory disease of the nasal mucosa mediated by IgE, with type 2 inflammation as the core pathogenic mechanism. It occurs in susceptible individuals upon exposure to environmental allergens such as pollen and dust mites. In recent years, the prevalence of the disease in China has increased from 11.1% to 17.6%, affecting approximately 250 million people[1], among whom 52.2% are patients with persistent moderate-to-severe disease[2]. The disease burden is significant and has become an important public health issue. Current standard treatments, including intranasal corticosteroids and antihistamines, have notable limitations. 62% of patients with moderate-to-severe disease remain inadequately controlled[3]. Long-term use of intranasal corticosteroids may lead to adverse reactions such as epistaxis[4], while antihistamines are often associated with side effects such as drowsiness[5], indicating significant unmet clinical needs. As a biologic therapy targeting IL-4Rα, MG-K10 can block the type 2 inflammatory pathway at its source. Compared with currently approved biologics targeting the same pathway (which require dosing once every two weeks), MG-K10 achieves a differentiated breakthrough in dosing frequency with its long-acting property allowing administration once every four weeks, thereby significantly extending dosing intervals. This may help improve patient treatment adherence and reduce the time and economic burden associated with frequent hospital visits. The Product has the potential to provide a new treatment option for patients with moderate-to-severe disease who respond poorly to conventional therapies, thereby reducing the individual and socio-economic burden associated with the disease.

On 24 January 2025, the Group through subsidiaries of the Company entered into a Collaboration Agreement (“Agreement”) with Hunan Mabgeek Biotech Co., LTD and its subsidiary for MG-K10. In accordance with the Agreement and supplementary agreements, the Group has obtained the co-development rights (excluding AD) and exclusive commercialization rights for the Product in Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region, Taiwan Region and Singapore; its subsidiary Dermavon Holdings Limited has obtained, through its subsidiary, the co-development rights (excluding AD) and exclusive commercialization rights for the Product in the field of dermatological indications in Mainland China.

About CMS

CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet medical needs.

CMS focuses on the global first-in-class (FIC) and best-in-class (BIC) innovative products, and efficiently promotes the clinical research, development and commercialization of innovative products, enabling the continuous transformation of scientific research into clinical practices to benefit patients.

CMS deeply engages in several specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to promote the in-depth development in its advantageous specialty fields, strengthening the competitiveness of the Cardiovascular-Kidney-Metabolic/ gastroenterology/ ophthalmology/ skin health businesses, bringing economies of scale in specialty fields. Among them, the skin health business (Dermavon) has become a leading enterprise in its field, and is proposed to be listed independently on the SEHK. Meanwhile, CMS continuously promotes the operation and development of its integrated R&D, manufacturing and commercialization chain in Southeast Asia and the Middle East, capturing growth opportunities in emerging markets to support the high-quality and sustainable development of the Group.

Reference

1. Cheng L, Chen J, Fu Q, et al. Chinese Society of Allergy Guidelines for Diagnosis and Treatment of Allergic Rhinitis. Allergy Asthma Immunol Res. 2018;10:300‑353.

2. Zheng, Ming et al. “Clinical characteristics of allergic rhinitis patients in 13 metropolitan cities of China.” Allergy vol. 76,2 (2021): 577-581. doi:10.1111/all.14561

3. White, P et al. “Symptom control in patients with hay fever in UK general practice: how well are we doing and is there a need for allergen immunotherapy?” Clinical and experimental allergy : journal of the British Society for Allergy and Clinical Immunology vol. 28,3 (1998): 266-70. doi:10.1046/j.1365-2222.1998.00237.x

4. Rosenblut, A et al. “Long-term safety of fluticasone furoate nasal spray in adults and adolescents with perennial allergic rhinitis.” Allergy vol. 62,9 (2007): 1071-7. doi:10.1111/j.1398-9995.2007.01521.x

5. Bernstein, Jonathan A et al. “Allergic Rhinitis: A Review.” JAMA vol. 331,10 (2024): 866-877. doi:10.1001/jama.2024.0530

CMS Disclaimer and Forward-Looking Statements

This press release is not intended to promote any products to you and is not for advertising purposes. This press release does not recommend any drugs, medical devices and/or indications. If you want to know more about the diagnosis and treatment of specific diseases, please follow the opinions or guidance of your doctor or other medical and health professionals. Any treatment-related decisions made by healthcare professionals should be based on the patient’s specific circumstances and in accordance with the drug package insert.

This press release which has been prepared by CMS does not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This press release has been prepared by CMS based on information and data which it considers reliable, but CMS makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this press release. Certain matters discussed in this press release may contain statements regarding the Group’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Group and the Company is not responsible for such third-party statements and projections.

Media Contact
Brand: China Medical System Holdings Ltd.
Contact: CMS Investor Relations
Email: ir@cms.net.cn
Website: https://web.cms.net.cn/en/home/

HONG KONG, Apr 22, 2026 - (ACN Newswire) - Hengrui Pharma reported steady growth in the first quarter of 2026. In Q1 2026, the Company recorded revenue of RMB 8.14 billion, up 12.98% year-over-year, while net profit attributable to shareholders increased by 21.78% to RMB 2.28 billion. Innovative drugs remained the key growth driver, generating RMB 4.53 billion in revenue, up 25.75% year-over-year and accounting for 61.69% of total pharmaceutical sales.

The Company continued to advance its innovation-driven strategy with sustained R&D investment and solid pipeline progress. R&D investments in Q1 2026 totaled RMB 2.22 billion, representing for approximately 27.32% of revenue.

During the period, three innovative products and new indications were approved in China, which included an anti-PD-L1/TGF-βRII bi-functional fusion protein and an indication expansion for HER2-targeting ADC.

In terms of pipeline advancement, the Company obtained 26 clinical trial approvals and had 8 new drug applications accepted in China across key therapeutic areas including oncology, metabolic, cardiovascular, and immunological diseases.

Business development has become a recurring and increasingly important growth driver, with RMB 787 million in out-licensing revenue recognized during the quarter, primarily from the collaboration with GSK. Since 2023, Hengrui Pharma has completed 12 overseas business development transactions, including out-licensing, NewCo structures, and strategic alliance models.

A key milestone during the period was the successful Nasdaq listing of Kailera Therapeutics (NASDAQ: KLRA), a NewCo company built around Hengrui Pharma’s GLP-1-based assets. This milestone reflects continued progress in executing the Company’s NewCo strategy, with Hengrui and Kailera working together to advance the global development of the GLP-1 portfolio.

Looking ahead, Hengrui Pharma will remain committed to innovation and globalization, strengthening its pipeline and advancing the development and commercialization of innovative therapies to benefit patients worldwide.

TAIPEI, TW, Apr 15, 2026 - (ACN Newswire) - OBI Pharma, Inc. (TPEx:4174.TWO) today announced its presence at AACR 2026, highlighted by ten poster presentations, showcasing the transformative potential of the GlycOBI® platform. Conventional ADCs often face limitations due to random conjugation, resulting in heterogeneous Drug-to-Antibody Ratios (DAR), suboptimal stability, and narrow therapeutic windows. In contrast, the OBI site-specific glycan-based technology enables a highly homogeneous DAR, translating into improved PK/PD profiles, and reduced off-target toxicity, as demonstrated by OBI's lead programs, OBI-902 and OBI-904.

We are further advancing precision oncology through our next-generation bispecific (OBI-201) and bispecific, dual-payload (OBI-221) ADCs. These "biology - driven" molecules are designed to overcome tumor heterogeneity and multi-drug resistance-key challenges in current cancer treatment. By incorporating both the GlycOBI® and GlycOBI DUO® platforms, OBI is developing novel and differentiated therapeutics addressing the unmet medical need for patients with difficult-to-treat solid tumors. Additionally, OBI's robust ADC conjugation platform has proven to consistently deliver product quality and scalability, while enabling expansion into next-generation modalities, including degrader-antibody conjugates (DACs).

These data will be presented at the American Association of Cancer Research (AACR) Annual Meeting from April 17 to 22, 2026 in San Diego, CA. (USA).

"At OBI, we make better ADCs," said Dr. Ya-Chi Chen, Chief Scientific Officer OBI Pharma. "Our goal is to deliver therapies that not only target tumors more effectively and precisely, but also reduce side effects, giving patients potentially life-changing treatment options."

Monday, April 20, 2026 (9:00 AM - 12:00 PM)

Title: Overcoming Resistance with OBI-902: Preclinical Evaluation of a Next-Generation TROP2 ADC1

Authors: Ren-Yu Hsu, Chi-Huan Lu, Chi-Sheng Shia, Jing-Rong Huang, Hsin-Shan Wu, Lu-Tzu Chen, Jhih-Jie Yang, Tzu-Min Yen, Jyy-Shiuan Tu, Yu-Hsuan Tsao, Ya-Chi Chen. OBI Pharma, Inc, Taipei, Taiwan

Session Title: PO. ET07.01 - Quantitative Pharmacology and Translational Modeling
Location: Poster Section 17
Poster Board Number: 6
Abstract Presentation Number: 1818

Title: OBI-904, a Next-Generation Nectin-4-Targeting Exatecan ADC, Demonstrates Enhanced Cytotoxicity and Overcomes Enfortumab Vedotin Resistance2

Authors :Yuan-Liang Wang, Chi-Huan Lu, Woan-Eng Chan, Shin-Jin Lin, Ting-Yu Chang, Hong-Syuan Lin, Wei-Jhen Huang, Ya-Chi Chen. OBI Pharma, Inc, Taipei, Taiwan

Session Title: PO.ET02.02 - Antibody-Drug Conjugates and Linker Engineering 2
Location: Poster Section 13
Poster Board Number: 26
Abstract Presentation Number: 1729

Title: OBI-904, a Glycan-based Site specific Nectin-4-Targeted ADC, Demonstrates Potent and Durable Antitumor Activity with an Improved PK Profile and Overcoming EV-Resistance in Non-Clinical Studies3

Authors: Chi-Huan Lu, Ren-Yu Hsu, Jing-Jie Ciou, Tzu Min Yen, Jyy-Shiuan Tu, Yu-Hsuan Tsao, Jing-Rong Huang, Ya-Chi Chen. OBI Pharma, Inc., Taipei, Taiwan

Session Title: PO.ET07.01 - Quantitative Pharmacology and Translational Modeling
Location: Poster Section 17
Poster Board Number: 7
Abstract Presentation Number: 1819

Title: The MET/HER3 Antibody-Drug Conjugate with Dual Payload: A Dual-Target Approach to Eliminate Tumor Escape Mechanisms5

Authors: Yuan-Liang Wang, Chi-Huan Lu, Woan-Eng Chan, Ting-Yu Chang, Hong-Syuan Lin, Cheng-Yen Wei, Shin-Jin Lin, Lu-Tzu Lu, Meng-Hsin Liu, Wei-Jhen Huang, Ya-Chi Chen. OBI Pharma, Inc., Taipei, Taiwan

Session Title: PO.CL.0705 - Targeted Antigen Therapies and Immunity
Location: Poster Section 49
Poster Board Number: 17
Abstract Presentation Number: 2665

Title: Guide-effector bsADCs: Driving co-endocytosis for enhanced payload delivery6

Authors: Wei-Jhen Huang, Woan Eng Chan, Meng-Hsin Liu, Yueh Chin Wu, Ya-Chi Chen .OBI Pharma, Inc., Taipei, Taiwan

Session Title: PO.ET02.02 - Antibody-Drug Conjugates and Linker Engineering 2
Location: Poster Section 13
Poster Board Number : 27
Abstract Presentation Number: 1730

Title: Hydrophilicity-Enhanced Linker Technology Enables Site-Specific Degrader-Antibody Conjugates with Improved Stability and Enhanced Activity7

Authors: Yu-Hung Chen, Wei-Chien Tang, Chi-Dian Lu, Hung-Yi Lin, Wei-Jhen Huang, Nan-Hsuan Wang, Ya-Chi Chen, Teng-Yi Huang. OBI Pharma, Inc., Taipei, Taiwan

Session Title: PO.ET02.02 - Antibody-Drug Conjugates and Linker Engineering 2
Location: Poster Section 13
Poster Board Number: 28
Abstract Presentation Number: 1731

Title: Cell-based payload release highlights design, site, and cell-dependent ratio shifts in dual-payload ADCs8

Authors: Nan-Hsuan Wang, Wei-Han Lee, Evelyn He, Li Chuan Huang, Yu-Chao Huang, David Teng-Yi Huang, Ya-Chi Chen. OBI Pharma, Inc, Taipei, Taiwan

Session Title: PO.CH01.06 - Antibodies, Antibody-Drug Conjugates, and Nucleic Acids
Location: Poster Section 38
Poster Board Number: 5
Abstract Presentation Number: 2397

Monday, April 20, 2026 (2:00 PM - 5:00 PM)

Title:TROP2 Upregulation and Interaction with HER2 Mediate Trastuzumab Resistance4

Authors: Yuan-Liang Wang, Chi-Huan Lu, Cheng-Yen Wei, Jye-Yu Huang, Woan-Eng Chan, Lu-Tzu Chen, Ya-Chi Chen. OBI Pharma, Inc., Taipei, Taiwan

Session Title: PO.ET03.06 Drug Resistance 1: Antibodies and ADCs
Location: Poster Section 12
Poster Board Number: 18
Abstract Presentation Number: 2972

Tuesday, April 21, 2026 (9:00 AM - 12:00 PM)

Title: Glycan-based site specific ADC Achieves Sustained Tumor Control through Improved Payload Delivery and Immune Activation9

Authors: Liu Chih-Chun, Tsai Yi-Chien, Huang Jing-Rong, Lo Fei-Yun, Pei Yu, Hsu Ren-Yu, Tu Tzu-Hsuan, Chen Ya-Chi. OBI Pharma, Inc, Taipei, Taiwan

Session Title: PO.IM02.04 - Adaptive Immunity in Cancer
Location: Poster Section 6
Poster Board Number: 2
Abstract Presentation Number: 4234

Title: Advancing ADC therapeutics with next-generation site-specific glycan conjugation and dual-payload flexibility10

Authors: Wei-Chien Tang, Yu-Hung Chen, Chih-Kang Chang, Ting-Wei Liu, Hung-Yi Lin, Wei-Jhen Huang, Chi-Huan Lu, Ren-Yu Hsu, Nan-Hsuan Wang, Ya-Chi Chen,Teng-Yi Huang. OBI Pharma, Inc, Taipei, Taiwan

Session Title: PO.ET02.03 - Antibody-Drug Conjugates and Linker Engineering 3
Location: Poster Section 12
Poster Board Number: 1
Abstract Presentation Number: 4423

The e-posters will be available for browsing at the AACR virtual meeting platform beginning at 12:00 PM PT on April 17, as well as on the OBI Pharma website (www.obipharma.com) beginning on April 18.

1 AACR Annual Meeting 2026 Abstracts online https://www.abstractsonline.com/pp8/#!/21436/presentation/4583
2 AACR Annual Meeting 2026 Abstracts online https://www.abstractsonline.com/pp8/#!/21436/presentation/5385
3 AACR Annual Meeting 2026 Abstracts online https://www.abstractsonline.com/pp8/#!/21436/presentation/4588
4 AACR Annual Meeting 2026 Abstracts online https://www.abstractsonline.com/pp8/#!/21436/presentation/5030
5 AACR Annual Meeting 2026 Abstracts online https://www.abstractsonline.com/pp8/#!/21436/presentation/4051
6 AACR Annual Meeting 2026 Abstracts online https://www.abstractsonline.com/pp8/#!/21436/presentation/5400
7 AACR Annual Meeting 2026 Abstracts online https://www.abstractsonline.com/pp8/#!/21436/presentation/5401
8 AACR Annual Meeting 2026 Abstracts online https://www.abstractsonline.com/pp8/#!/21436/presentation/6474
9 AACR Annual Meeting 2026 Abstracts online https://www.abstractsonline.com/pp8/#!/21436/presentation/1311
10 AACR Annual Meeting 2026 Abstracts online https://www.abstractsonline.com/pp8/#!/21436/presentation/5403

About OBI Pharma

OBI Pharma is a clinical-stage global oncology company established in 2002 and headquartered in Taiwan. Together with its subsidiary OBI Pharma USA, Inc., the company is dedicated to developing innovative cancer therapeutics to provide new treatment options for patients with urgent medical needs.

OBI's research efforts center on novel antibody-drug conjugates (ADC). Through its patented next-generation conjugation technology platform, Obrion™, OBI has established diverse ADC design modalities. The platform integrates proprietary conjugation and linker technologies, including GlycOBI®, GlycOBI DUO®, EndoSymeOBI®, HYPrOBI®, and the novel irreversible cysteine-conjugation technology ThiOBI® , to advance next-generation ADC solutions. OBI has developed a next-generation suite of ADC programs. These include monospecific ADCs such as OBI-902 (TROP2), which is under Ph1 clinical evaluation, and OBI-904 (Nectin-4); a bispecific single-payload ADC, OBI-201 (HER2 x TROP2); and a bispecific dual-payload ADC, OBI-221 (cMET x HER3). To broaden the applicability of the HYPrOBI® linker technology, OBI has further developed the ThiOBI® technology to enable irreversible cysteine-based conjugation. In addition to its ADC programs, OBI's assets include OBI-3424, a first-in-class AKR1C3-targeted small-molecule prodrug that selectively releases a potent DNA-alkylating agent in the presence of the aldo-keto reductase 1C3 enzyme, which is highly expressed in certain tumors. Additional information can be found at www.obipharma.com.

About OBI-902 and OBI-992

OBI-902 is a TROP2-targeted antibody-drug conjugate (ADC) that carries a potent topoisomerase I inhibitor payload to kill tumor cells with a drug-antibody ratio (DAR) of 4. TROP2 is highly expressed in a variety of solid tumors such as breast, lung, biliary, bile duct (cholangiocarcinoma), ovarian, gastric, and many other cancer types, rendering it an ideal target for cancer therapy.

OBI-902 is a novel site-specific glycan-conjugated ADC using OBI's proprietary GlycOBI® platform, which provides improved stability and enhanced hydrophilicity. OBI-902 demonstrated remarkable antitumor efficacy across multiple tumors, including NSCLC, triple-negative breast cancer (TNBC), and gastric cancer, improved pharmacokinetic characteristics, and a favorable safety profile in various animal models. The IND of OBI-902 was cleared by the United States Food and Drug Administration (US FDA) on April 30, 2025, received Orphan Drug Designation (ODD) from the US FDA for cholangiocarcinoma on Nov. 16, 2025, and gastric cancer (GC), including gastroesophageal junction cancer (GEJC) on December 5, 2025.The Phase 1/2 Study (NCT07124117) is ongoing, with completion of the Phase 1a portion targeted for 1H 2027.

OBI-992 is a TROP2-targeted antibody-drug conjugate (ADC) that carries a potent topoisomerase I inhibitor payload with drug-to-antibody ratio of 4 (DAR 4) via a cysteine conjugated, hydrophilic and enzyme-cleavable linker. OBI-992 remains stable in circulation and delivers this cytotoxic payload to TROP2-expressing tumor cells, leading to tumor cell death while avoiding off-target toxicities.

The US FDA cleared the IND application for OBI-992 in Jan 2024 and subsequently granted Orphan Drug Designation for the treatment of gastric cancer, including GEJC in Aug 2024. The Phase 1/2 Study (NCT06480240) has reached the putative Recommended Phase 2 Dose (pRP2D) and Phase I completion is targeted for 1H 2027.

Since December 2021, OBI has been granted by Biosion, Inc. (www.biosion.com) an exclusive license to a TROP2 targeting antibody amino acid sequence in all jurisdictions except Mainland China, Hong Kong and Macau. Biosion holds exclusive rights to that antibody sequence in Mainland China, Hong Kong and Macau. OBI holds commercial rights to OBI-992 and OBI-902 in all jurisdictions except Mainland China, Hong Kong and Macau, while Biosion holds commercial rights to OBI-992 and OBI-902 in Mainland China, Hong Kong and Macau.

About OBI-904

OBI-904 is an antibody-drug conjugate (ADC) comprised of a monoclonal antibody specifically targeting Nectin-4 (Nectin cell adhesion molecule 4), linked to a potent topoisomerase I inhibitor payload with Drug-to-Antibody Ratio of 8 (DAR8) through OBI's proprietary GlycOBI® ADC enabling technologies, powered by a dual-function enzyme, EndoSymeOBI®, and a novel linker, HYPrOBI®. It is a potentially first-in-class and best-in-class glycan-based ADC designed to target multiple cancer types that express Nectin-4. Antitumor activity has been shown across several animal disease models, including HNSCC, CRC, TNBC, cervical and sarcoma cancers; OBI-904 has demonstrated a favorable safety profile in a repeat dose toxicity study in monkeys, and is now in the pre-IND stage of development.

About OBI-201

OBI-201 is a TROP2 x HER2 bispecific ADC generated by OBI GlycOBI® ADC enabling technologies conjugated with a topoisomerase I inhibitor. Notably, OBI is the first to demonstrate that HER2 and TROP2 can interact and form a protein complex on the cell surface-a groundbreaking discovery facilitated through collaboration with a specialized AI drug discovery partner. OBI-201 offers several advantages over mono-specific TROP2 or HER2 ADCs. By targeting both antigens, it broadens tumor coverage, especially in cancers with heterogeneous or low expression of either target. Dual targeting can enhance tumor selectivity, binding avidity, and internalization, improving payload delivery to cancer cells while potentially reducing toxicity to normal cells. OBI-201 may overcome resistance associated with downregulation of targets after treatment by certain monospecific ADCs.

Animal studies revealed that OBI-201 demonstrated significantly superior anti-tumor activity compared to single-target ADCs in drug-resistant breast cancer models with extremely low HER2 expression. OBI-201 was able to sustain tumor growth suppression, indicating its potential to overcome multiple drug-resistance mechanisms. OBI-201 is a next-generation bispecific ADC poised to break through the limitations of single-target ADCs, potentially offering patients a more comprehensive and durable treatment option.

About OBI-221

OBI-221 is a Bispecific-Dual Payload ADC (BsDpADC), generated by OBI GlycOBI DUO® technologies, targeting cMET and HER3, conjugated with dual payload of MMAE and topoisomerase I inhibitor.

In clinical practice, EGFR-targeted therapies have become a key strategy for treating non-small cell lung cancer (NSCLC) and colorectal cancer (CRC) patients. However, tumors often rapidly develop resistance by upregulating cMET and HER3 that, in turn, sustain tumor growth. Moreover, high expressions of cMET and HER3 have been observed in gastric cancer, head and neck cancer, and various other solid tumors, further underscoring the unmet medical needs.

To address this challenge, OBI Pharma leverages its proprietary GlycOBI DUO® platform and HYPrOBI® linker to develop a novel bispecific dual-payload antibody-drug conjugate (BsDpADC)-OBI-221. This therapeutic agent simultaneously targets cMET and HER3 while delivering synergistic cytotoxic agents, effectively combating tumor resistance and heterogeneity. This breakthrough design not only addresses an unmet medical need but also represents a forward-looking strategy for next-generation ADC development.

OBI-221 holds meaningful potential to overcome resistance to existing EGFR-targeted therapies, potentially offering patients more targeted treatment options while delivering substantial clinical value.

About GlycOBI®

OBI has developed a unique glycan-based, site-specific ADC technology (GlycOBI®), designed in a Plug and Play format that is compatible with any antibodies, linkers, and payloads, and supports various drug-antibody ratios (DAR)(up to 16). Powered by OBI's proprietary dual-function enzymatic technology EndoSymeOBI® and its hydrophilic linker technology HYPrOBI®, GlycOBI®, a core component of OBI's Obrion™ ADC technology family, enables the generation of site-specific and homogeneous ADCs through an efficient, scalable and streamlined two-step, one-pot conjugation process under GMP conditions.

During the conjugation process, GlycOBI® avoids disrupting the antibody structure and ensures that the resulting ADC retains biophysical characteristics comparable to the native antibody. In addition, OBI's linker technology improves payload conjugation efficiency and reduces the propensity for aggregation or degradation, further supporting a stable and well-controlled ADC manufacturing process. GlycOBI® has overcome limitations commonly associated with traditional ADC approaches and has demonstrated improved antitumor activity and stability in various in vivo studies. Notably, the platform supports the conjugation of both cytotoxic small-molecule inhibitors and highly hydrophobic degraders, expanding its applicability to next-generation modalities such as DACs.

About GlycOBI DUO®

GlycOBI DUO® is a next-generation dual-payload antibody-drug conjugate (ADC) technology built on the GlycOBI® site-specific conjugation platform and its proprietary enzymatic conjugation strategy. It enables the precise and programmable attachment of two distinct payloads to a single antibody with tunable ratios and supports high DAR ratios, including up to DAR24. By combining complementary mechanisms of action, GlycOBI DUO® is designed to enhance antitumor efficacy, address tumor heterogeneity, and improve the overall therapeutic index, with the potential to overcome resistance mechanisms associated with conventional ADCs-representing a promising advancement in next-generation ADC development.

About ThiOBI®

OBI has developed a novel irreversible, cysteine conjugation ADC platform (ThiOBI®) with improved stability, which can apply to any antibodies, linkers, and payloads. OBI's proprietary ThiOBI® platform including linker technologies (HYPrOBI®) can generate ADCs in different biomolecular formats, including antibody fragments, nanobodies, peptides, and proteins. Furthermore, OBI's HYPrOBI® linker technology has improved conjugation efficiency of the payload and reduced aggregation propensity and also expanded the half-life of the ADC products. ThiOBI has overcome the limitations of traditional cysteine ADCs and achieved better antitumor activity and stability in various in vivo tests.

GlycOBI®, EndoSymeOBI®, ThiOBI®, HYPrOBI®, and GlycOBI DUO® are registered trademarks of OBI. Obrion™ is a trademark under registration.

Forward-Looking Statements

Statements included in this press release that are not a description of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about future clinical trials, results and the timing of such trials and results. Such risk factors are identified and discussed from time to time in OBI Pharma's reports and presentations, including OBI Pharma's filings with the Taiwan Securities and Futures Bureau.

COMPANY CONTACT:
Jukka Muhonen
Executive Director, Business Development
OBI Pharma USA, Inc.
1.617.821.0292
jukkamuhonen@obipharma.com

SOURCE: OBI Pharma USA, Inc.

HONG KONG, Apr 8, 2026 - (ACN Newswire) - Guoyuan International issued a research report on Essex Bio-Technology on 1 April 2026. Essex posted steady operating performance growth in 2025 and kicked off its international expansion, as the Phase III clinical trial of bevacizumab met its primary endpoint and Beifushu® was successfully introduced to Singapore. The global commercialisation of innovative drugs is expected to drive the company’s earnings growth. The institution maintains a BUY rating on the Company with a target price of HK$6.84, representing 84.9% upside from the current price.

Essex Bio-Technology’s core R&D pipeline has secured a series of critical milestones. The global phase 3 clinical project of bevacizumab ophthalmic injection (AURA2) has completed the last patient last visit in Australia, European Union countries and the United States, with data analysis now in progress. A Biologics License Application (BLA) for anti-VEGF ophthalmic injection EB12-20145P (HLX04-O, bevacizumab) was accepted by the National Medical Products Administration (NMPA). Results from the phase 3 clinical trial of HLX04-O in Chinese patients showed that the primary endpoint was met, with the mean change in BCVA from baseline at week 48 being non-inferior to that in the ranibizumab group, and HLX04-O had a good safety profile in wet-AMD patients. Currently, no bevacizumab products marketed globally are approved for wet-AMD indication, suggesting substantial market potential. Meanwhile, Essex Bio-Technology has secured exclusive global rights to SkQ1 eye drops from Mitotech and is advancing its US phase III clinical trial, with favourable safety and tolerability demonstrated in VISTA-1 and VISTA-2 trials, which boasts huge commercial potential targeting the large moderate-to-severe dry eye disease market in the PRC.

Essex Bio-Technology’s internationalisation strategy has also achieved landmark progress. Beifushu® has been successfully introduced to Singapore via the Special Access Route (SAR) at the Singapore National Eye Centre (SNEC), marking the product’s first entry beyond the PRC and laying a solid foundation for future launches in Southeast Asia and global markets. The company has entered into a collaboration with Beijing Airdoc Technology Co., Ltd. to jointly operate artificial intelligence-based retinal businesses, and signed an exclusive distribution agreement with Seefunge Pharmaceutical Technology Co., Ltd. for its emedastine difumarate and oxybuprocaine hydrochloride eye drops, further optimising the ophthalmic product portfolio and business layout.

Supported by Essex Bio-Technology’s steady 2025 operating performance, with revenue amounted to HK$1,814.0 million (+8.6% YoY), profit for the year amounted to HK$318.0 million (+3.5% YoY), gross profit margin remained at a high industry level of 89.2%; coupled with its robust innovative drug pipeline and smooth global expansion, Guoyuan Internatioanl forecasts the company’s 2026-2028 revenue at HK$1,871.0 million, HK$2,130.0 million and HK$2,475.0 million respectively. The institution maintains the target price of HK$6.84, representing 12x 2025 PE and 84.9% upside from the current price, and reiterates the BUY rating for Essex Bio-Technology.

Important Disclosure:

This content extracts and integrates original content and key highlights from the research report “Essex Bio-Technology (1061.HK) Updated Report: Steady Growth in Performance, International Expansion Begins” published by Guoyuan International on 1 April 2026. All information is for reference only and does not constitute investment advice. Investment involves risks, please make decisions with caution.

HONG KONG, Mar 25, 2026 - (ACN Newswire) - On March 25, 2026, Hengrui Pharma (600276.SH; 01276.HK) announced robust financial results for the full year 2025, fueled by its dual strategy of innovation and globalization. Revenue increased 13.02% year-on-year to RMB 31.63 billion, and net profit attributable to shareholders increased by 21.69% to RMB 7.71 billion.

Innovation remained the engine of Hengrui’s growth: Innovative drug sales increased by 26.09% year-on-year to RMB 16.34 billion, contributing 58.34% to total drug sales. This was driven by a robust pipeline across therapeutic areas, with oncology products contributing RMB 13.24 billion in revenue (+18.52% YoY), and non-oncology products contributing RMB 3.10 billion in revenue (+73.36% YoY).

Hengrui kept innovation at its core, with R&D expenditure reaching RMB 8.72 billion in 2025, accounting for 27.58% of total revenue, of which RMB 6.96 billion was expensed. During the year, the company secured seven approvals for Class 1 innovative drug, one for a Class 2 innovative drug, and six for new indications of marketed innovative drugs. The pace of regulatory progress accelerated with 15 NDA/BLAs accepted by the NMPA. Meanwhile, 28 drug candidates entered Phase III clinical trials, 61 progressed to Phase II, and 28 NMEs entered Phase I for the first time.

The company currently has over 100 proprietary innovative products in clinical development and is conducting more than 400 clinical trials. This robust portfolio will be further supported by approximately 53 innovative product and indication approvals anticipated during 2026-2028.

2025 marked another year of accelerated progress in Hengrui's global expansion. Licensing revenue rose 25.62% to RMB 3.39 billion, cementing the growing global recognition and value of the company’s innovative portfolio. During the year, the company completed five overseas business development transactions for innovative drugs with leading MNCs and biotechs, highlighted by a strategic collaboration with GSK. In parallel, the company continued to advance its self-developed assets and global regulatory efforts. Multiple innovative drugs had their first global clinical trials initiated, ranging from Phase I to III.

Additionally, Hengrui successfully listed on the Hong Kong Stock Exchange, raising total gross proceeds of HK$11.4 billion (US$1.5 billion), including the over-allotment option — marking the largest pharmaceutical IPO in Hong Kong in the past five years and further strengthening its access to global capital.

Looking ahead, Hengrui will continue to focus on addressing unmet clinical needs with its differentiated innovative portfolio, placing equal emphasis on independent R&D and open collaboration to expand access to innovative drugs for patients worldwide.

About Hengrui Pharma

Hengrui Pharma is an innovative, global pharmaceutical company dedicated to the research, development and commercialization of high-quality medicines to address unmet clinical needs. Its therapeutic areas of focus include oncology, metabolic and cardiovascular diseases, immunological and respiratory diseases, and neuroscience. Driven by a patient-focused philosophy since its founding in 1970, Hengrui Pharma remains committed to advancing human health by striving to conquer diseases, improve health, and extend lives through the power of science and technology.

Forward-Looking Statements

This press release contains forward-looking statements, including statements about the company's future growth prospects and pipeline potential. These statements are based on current expectations and assumptions and do not guarantee future performance. Actual results, developments, and business decisions may differ materially from these forward-looking statements. All information in this press release is as of the date of this press release, and Hengrui undertakes no duty to update such information unless required by law.

SHENZHEN, CHINA, Mar 13, 2026 - (ACN Newswire) - China Medical System Holdings Limited (“CMS”, or the “Group”) is pleased to announce that on 13 March 2026, new drug for renal anaemia Desidustat Tablets (the “Product”) has been approved for marketing in China by the National Medical Products Administration of the People’s Republic of China (NMPA). The Product is a novel, oral HypoxiaInducible Factor-Prolyl Hydroxylase Inhibitor (HIF-PHI) for treating anaemia in non-dialysis adult, Chronic Kidney Disease (CKD) patients.

The approval of Desidustat Tablets will further strengthen the Group’s overall layout in the field of nephrology, and synergize with the marketed innovative drug Velphoro (Sucroferric Oxyhydroxide Chewable Tablets, indicated for CKD hyperphosphatemia). Through the efficient linkage of nephrology expert resources and channel networks, the Group is expected to rapidly promote the large-scale clinical application of Desidustat Tablets, providing differentiated treatment options for Chinese CKD patients with renal anaemia and making a positive contribution to the Group’s performance.

More information about Desidustat Tablets and Renal Anaemia

As a novel oral HIF-PHI, the Product’s mechanism of action promotes erythropoiesis through increasing endogenous erythropoietin, improving iron availability and reducing hepcidin. Its China Phase III clinical trial has demonstrated positive results. The primary endpoint of the haemoglobin (Hb) mean change from baseline to Week 7-9 has indicated that, Desidustat is more effective than placebo in increasing Hb level. Results from the extension study demonstrate that the Product can maintain Hb level within the target range over the long term with acceptable safety. In addition, the Product significantly reduces hepcidin levels and ameliorates iron metabolism disorders.

There is still a large unmet need in the treatment of anaemia in CKD patients in China. It is estimated that there are more than 120 million CKD patients in China[1]. Anaemia is one of the frequent complications of CKD, which exhibits a progressively increasing incidence with disease progression. A survey in China showed that the prevalences of anaemia in patients at CKD stage 1 to 5 were 22.0%, 37.0%, 45.4%, 85.1%, and 98.2%, respectively[2]. The target-achieving rate (the Hb level reaching the target value (110~120g / L)) has increased to 51.5% for haemodialysis CKD patients with anaemia[3], but is still only 8.2% for anaemia patients in non-dialysis CKD[4]. The Product is administrated orally, thus expecting to improve the treatment compliance of patients and to meet the unmet treatment needs in the field of CKD anaemia.

Desidustat Tablets have been approved for marketing in India.

CMS INTERNATIONAL DEVELOPMENT AND MANAGEMENT LIMITED, a wholly-owned subsidiary of the Group, obtained an exclusive license for the Product from Zydus Lifesciences Limited (earlier known as Cadila Healthcare Limited) pursuant to a License Agreement with an effective date of 20 January 2020.

The Group adheres to its core strategy of “innovation-driven”, having established a tiered and multi-dimensional innovation product portfolio with abundant reserves: 7 new drugs have been approved for marketing, 6 are currently under marketing review, and nearly 20 projects are about to initiate or are progressing through clinical trials. Through a dual-engine innovation approach combining collaborative development and in-house R&D, the Group continuously enriches its innovative pipeline centered on first-in-class (FIC) and best-in-class (BIC) products, efficiently advancing clinical development and commercialization. Moving forward, CMS will remain clinical needs-driven to deliver more quality pharmaceutical solutions, steadfastly advancing toward the goal of becoming a specialty-focused, innovation-excellent multinational pharmaceutical enterprise.

About CMS

CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet medical needs.

CMS focuses on the global first-in-class (FIC) and best-in-class (BIC) innovative products, and efficiently promotes the clinical research, development and commercialization of innovative products, enabling the continuous transformation of scientific research into clinical practices to benefit patients.

CMS deeply engages in several specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to promote the in-depth development in its advantageous specialty fields, strengthening the competitiveness of the Cardiovascular-Kidney-Metabolic/ gastroenterology/ ophthalmology/ skin health businesses, bringing economies of scale in specialty fields. Among them, the skin health business (Dermavon) has become a leading enterprise in its field, and is proposed to be listed independently on the SEHK. Meanwhile, CMS continuously promotes the operation and development of its integrated R&D, manufacturing and commercialization chain in Southeast Asia and the Middle East, capturing growth opportunities in emerging markets to support the high-quality and sustainable development of the Group.

Reference

1. ZhangL, WangF, WangL, et al. Prevalence of chronic kidney disease in China: a cross-sectional survey[J]. Lancet, 2012, 379(9818):815-822. DOI: 10.1016/S0140-6736(12)60033-6

2. Chinese Expert Consensus on the Diagnosis and Treatment of Renal Anemia (2014 Revised Edition)[J]. Chinese Journal of Nephrology, 2014, 30(9): 712-716. DOI: 10.3760/cma.j.issn.1001-7097.2014.09.015

3. 19th CSN Critical Care & Blood Purification Congress, Chinese Medical Association (July 2-5, 2025)

4. Chinese Expert Consensus on the Diagnosis and Treatment of Renal Anemia (2018 Revised Edition)[J]. Chinese Journal of Nephrology, 2018, 34(11): 860-866. DOI: 10.3760/cma.j.issn.1001-7097.2018.11.012

CMS Disclaimer and Forward-Looking Statements

This press release is not intended to promote any products to you and is not for advertising purposes. This press release does not recommend any drugs, medical devices and/or indications. If you want to know more about the diagnosis and treatment of specific diseases, please follow the opinions or guidance of your doctor or other medical and health professionals. Any treatment-related decisions made by healthcare professionals should be based on the patient’s specific circumstances and in accordance with the drug package insert.

This press release which has been prepared by CMS does not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This press release has been prepared by CMS based on information and data which it considers reliable, but CMS makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this press release. Certain matters discussed in this press release may contain statements regarding the Group’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Group and the Company is not responsible for such third-party statements and projections.

Media Contact
Brand: China Medical System Holdings Ltd.
Contact: CMS Investor Relations
Website: https://web.cms.net.cn/en/home/