SUZHOU, China, June 22, 2020 /PRNewswire/ -- Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high quality medicines for the treatment of cancer, metabolic, autoimmune and other major diseases, today announced that following its application to The Stock Exchange of Hong Kong Limited (HKEX) pursuant to Rule 18A.12 of the Rules Governing the Listing of Securities on HKEX (Listing Rules), HKEX has granted approval for the dis-application of Rules 18A.09 to 18A.11 of the Listing Rules. Innovent initially listed on the HKEX on October 31, 2018 under the biotech chapter (Chapter 18A) of the Listing Rules, and now satisfies and even well exceeds the revenue and market capitalization tests for the dis-application.
As a result of the approval by the HKEX, the "B" marker will be removed from the Company's stock symbol in the HKEX, and the company's ordinary shares may be considered for inclusion in the Hang Seng indices in the future.
"We are excited that HKEX has approved this dis-application as a result of meeting the various criteria of the HKEX. We look forward to the possibility to be considered for inclusion in the Heng Seng indices in the future," said Dr. Michael Yu, Founder, Chairman and CEO of Innovent. "Innovent is committed to continuously advancing our rich pipeline of innovative and complementary therapies through leveraging our fully integrated multi-functional platform to achieve sustainable growth as a biopharmaceutical company, and to deliver value to our patients and shareholders."
Inspired by the spirit of "Start with Integrity, Succeed through Action," Innovent's mission is to develop and commercialize high quality biopharmaceutical products that are affordable to ordinary people. Established in 2011, Innovent is committed to developing, manufacturing and commercializing high quality innovative medicines for the treatment of cancer, metabolic, autoimmune and other major diseases. On October 31, 2018, Innovent was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 01801.HK.
Since its inception, Innovent has developed a fully-integrated multi-functional platform which includes R&D, CMC (Chemistry, Manufacturing, and Controls), clinical development and commercialization capabilities. Leveraging the platform, the company has built a robust pipeline of 23 valuable assets in the fields of cancer, metabolic, autoimmune diseases and other major therapeutic areas, with 18 in clinical development, 5 in Phase 3 or pivotal clinical trials, 3 under NDA reviews by the NMPA (2 under priority review status), while 2 products, TYVYT® (sintilimab injection) and BYVASDA® (bevacizumab biosimilar), officially approved for marketing in China. TYVYT® has been the only PD-1 inhibitor included in the NRDL since 2019.
Innovent has built an international team of advanced talents in cutting-edge biological drug development and commercialization, including many overseas experts. The company has also entered into strategic collaborations with Eli Lilly, Adimab, Incyte, MD Anderson Cancer Center, Hanmi and other international partners. Innovent strives to work with all relevant parties to help advance China's biopharmaceutical industry, improve drug availability to ordinary people and enhance the quality of the patients' lives. For more information, please visit: www.innoventbio.com.
SOURCE Innovent Biologics, Inc.