Luye Pharma : Boosts Its Product Portfolio in Biomedicine by Acquiring 2 Biological Antibodies

Luye Pharma Group announced on August,4 that a subsidiary of the Group, Shandong Luye Pharmaceutical Co., Ltd., has acquired two biological investigational antibodies from Shandong Bo'an Biotechnology Co., Ltd. The transaction will be payable in stages, amounting to a total of 450 million RMB. The acquisition is a move which highlights the healthy development of Luye's biomedical product portfolio, achieved by working in collaboration with varied innovative pharmaceutical companies to provide more business drivers for the Group's sustainable development.

Shandong Bo'an Biotechnology Co., Ltd. is a biotechnological company specializing in the research and development of biological medicines. The two investigational biological antibodies transferred in this acquisition, LY01008 and LY06006, are both monoclonal antibodies accepted for clinical trials in China. LY01008 is a recombinant anti-VEGF humanized monoclonal antibody injection, a biosimilar of Avastin. Currently, it is under Phase I clinical trials and if approved, can be used for the treatment of colorectal cancer and non-small-cell lung carcinoma (NSCLC). LY06006 is a recombinant anti-RANKL whole human monoclonal antibody injection, a biosimilar of Prolia. If approved, it can be used for treating osteoporosis in postmenopausal women and to reduce the risk of vertebral and non-vertebral fracture and hip fracture.

Biopharming is a significant part of the pharmaceutical industry worldwide and is expected to become the driving engine of future development. According to public financial reports, global sales revenue for Avastin in 2016 was 6.78 billion CHF with 1.5% growth. Sales revenue for Avastin in China was 640 million RMB with nearly 24% growth. For Prolia, (not yet listed in China) 2016 global revenue was 1.635 billion USD, with a nearly 25% growth.

'The acquisition of these two biological antibodies are valued additions to our existing pipeline and will add new vigor to the Group's future developments. We are optimistic about the biopharmaceutical industry's prospects and will continue increasing our investment in this area.' The management team of Luye Pharma Group commented.

Biopharmaceutical research and developments at Luye Pharma Group began in earnest in 2017. In view of further boosting industrial layout, the Group formally established a biopharmaceutical development platform in addition to the four existing R&D platforms the Group specializes in: Long-acting and Extended Release Technology, Liposome and Targeted Drug Delivery, Transdermal Drug Delivery Systems and New Compounds. In addition, the newly inaugurated R&D Center in Boston will help accelerate R&D and the supply of novel biological medicines for the Group by integrating global R&D resources, new technology and new project development. Looking forward, with the goal of laying solid foundations for the sustainable development of the Group, Luye Pharma will continue to expand its wide-ranging collaborations with domestic and international innovative pharmaceutical companies, introducing more products and fulfilling the pipeline layout through a series of biological antibody applications and developments in China and worldwide.