2019 Annual Results Presentation - investor.innoventbio.com

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To develop and commercialize high quality biopharmaceuticals that are affordable to ordinary people

2019 Annual Results Presentation

March 2020


Disclaimer

This presentation includes forward-looking statements. All statements contained in this presentation other than statements of historical facts, including statements regarding future results of operations and

financial position of Innovent Biologics (“Innovent” “we,” “us” or “our”), our business strategy and plans, the clinical development of our product candidates and our objectives for future operations, are forward-

looking statements. The words “anticipate,” believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. We have based these

forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business

strategy, clinical development, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and

assumptions. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess

the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we

may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this presentation may not occur and actual results could differ materially and adversely from those

anticipated or implied in the forward-looking statements.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements or events and

circumstances reflected in the forward-looking statements will occur. We are under no duty to update any of these forward-looking statements after the date of this presentation to conform these statements to

actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this

presentation.

This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number

of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data

or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in

which we operate are necessarily subject to a high degree of uncertainty and risk.

This presentation may not be all inclusive and may not contain all of the information that you may consider material. Neither Innovent nor any of its affiliates, shareholders, directors, officers, employees,

agents and advisors makes any expressed or implied representation or warranty as to the completeness, fairness, reasonableness of the information contained herein, and none of them shall accept any

responsibility or liability for any loss or damage, whether or not arising from any error or omission in compiling such information or as a result of any party's reliance or use of such information. By attending or

receiving this presentation you acknowledge that you will be solely responsible for your own assessment of our business, the market and our market position and that you will conduct your own analysis and

be solely responsible for forming your own view of the potential future performance of our business.

This presentation is intended solely for investors that are qualified institutional buyers or institutional accredited investors solely for the purposes of familiarizing such investors with Innovent and determining

whether such investors might have an interest in a securities offering contemplated by Innovent . Any such offering of securities will only be made pursuant to an exemption from, or in a transaction not subject

to, the registration requirements of the U.S. Securities Act of 1933, as amended, or by means of a registration statement (including a prospectus) filed with the SEC, after such registration statement becomes

effective. No such registration statement has been filed, or become effective, as of the date of this presentation. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy any

securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any

such state or jurisdiction.


Our Mission, Vision and Development Strategy

To develop and commercialize high

quality biopharmaceuticals that are

affordable to ordinary people

To be the premier biopharmaceutical

company in China

Robust and high quality pipeline

Global standard cGMP biologics

manufacturing facility in China

COMPANY MISSION COMPANY VISION COMPANY STRATEGY


Our History

To develop and commercialize high quality biopharmaceuticals that are affordable to ordinary people

2011.8

2012

2013

2014

2015

2016 2018

20192017

Tyvyt® (sintilimab injection) listed in the NRDL

Granted priority review status for the NDAs of three biosimilars (IBI-301, IBI-303 and IBI-305) by the NMPA

Strategic partnership with Eli Lilly for diabetes

Tyvyt® (sintilimab injection) included in the 2019 guidelines of the CSCO for Lymphoid Malignancies and featured as a cover story of The Lancet Haematology

IBI-303 published in the Inaugural Issue of The Lancet Rheumatology

Raised US$304 million via new shares placement

Innovent was established

First IND filed with the NMPA

Strategic alliance with Adimab

First IND application received approval

Built manufacturing facilities

Strategic partnership with Eli Lilly

Passed audit on GMP system and production facilities

IBI-301 (biosimilar to rituximab), IBI-303 (biosimilar to adalimumab), IBI-305 (biosimilar to bevacizumab) entered Phase 3 clinical trials

Passed GMP audit on drug products system

Listed on the Main Board of the HKEX

NDA of IBI-303 filed with the NMPA

Tyvyt® (sintilimab injection) received marketing approval from the NMPA

Strategic partnership with Incyte

Strategic alliance with Hanmi

PD-1 inhibitor sintilimabentered Phase 3 clinical trials


Major Accomplishments since 2019 to March 2020

COMMERCIALIZATION CLINICAL ADVANCEMENT GLOBAL COLLABORATIONS OTHER CORPORATE MILESTONES

EXPANSION OF MANUFACTURING FACILITIES• Second manufacturing facility M1b, housing 6x3,000L stainless steel bioreactors, in operation

• Total production capacity increased to 23,000L, becoming one of largest in China

FUNDRAISE PLACEMENT

• Raised approximately US$304 million through a new shares placement in Oct. 2019

• Raised approximately US$303 million through a new shares placement in Feb. 2020

ORGANIZATION GROWTHExpanded all-rounded talents team to 2,000, international division and the U.S. office in operations

EXPANDED STRATEGIC PARTNERSHIP WITH ELI LILY AND COMPANY

• License in mid-stage potentially global best-in-class diabetes molecule product candidate

• IND application of the molecule accepted by the NMPA

EXPENDED GLOBLE COLABORATION WITH CHI-MEDTo evaluate the combination of sintilimab and Chi-Med’s surufatinib in solid tumours

PARTNERSHIP WITH COHERUS BIOSCIENCESLicense out commercial rights of bevacizumab biosimilar to Coherus in the U.S. and Canada

PARTNERSHIP WITH ALECTORLicense in first-in-class anti-SIRP-α antibody for oncology indications treatment in China

1st LAUNCH WITH STRONG MOMENTUM - TYVYT® (SINTILIMAB INJECTION)

• Achieved above RMB1 billion sales in 2019 since launched in March 2019

• Becoming one of the best-selling drugs ever launched in China

NRDL INCLUSIONBecoming the only PD-1 inhibitor included in the NRDL in November 2019

COMMERCIAL TEAM EXPENSIONExpended the experienced commercial team to about 700 employees in 2019

ROBUST PORTFOLIO WITH 22 VALUABLE ASSETS

• 3 NDAs of biosimilars under review with priority review status by the NMPA

• 14 registrational or pivotal trials ongoing with 4 of sintilimab completed patients enrollment

- 1L Non-squamous NSCLC (met primary endpoint of PFS in interim analyst)

- 1L Squamous NSCLC

- 2L Squamous NSCLC

- 1L Hepatocellular Carcinoma (combo with IBI-305 (biosimilar to bevacizumab))

• 17 clinical stage assets with 50+ studies ongoing both in China and the U.S.

• 9 INDs approval


Agenda

1 COMMERCIALIZATION OF TYVYT® (SINTILIMAB INJECTION)

Manufacturing Facilities

Global Partnerships

Organization & Fundraise

Financial Review

Outlook

2

3

4

6

5

7

Research & Development


Delivered strong sales

results with sound

counter-competitive campaign

STRONG SALES PERFORMANCE

SUCCESSFUL NRDL

Succeeded in NRDL negotiation to

be the ONLY PD-1 inhibitor with

reimbursement

ESTABLISHED BRAND PERCEPTION

Established competitive brand perception

in medical society with high quality KOL

engagement and SOV campaigns

STRENGTHENCOMMERCIAL

CAPABILITY

Built a 700-arm strong full

function commercial team with

competitive skill sets,

execution, and mindset

Commercialization Summary of 2019


Commercialization of Tyvyt® (Sintilimab Injection) Flawless Execution Led to Solid Results in 2019

SALES LAUNCHEDTyvyt® (sintilimab injection)

March 9, 2019

Sales reached

RMB1,015.9 Million

2019


Tyvyt® (sintilimab injection) is the ONLY PD-1 inhibitor listed in the NRDL

Demonstrated its clinical value recognition from NHSA and increased affordability and accessibility for patients

Commercialization of Tyvyt® (Sintilimab Injection) Flawless Execution Led to Solid Results in 2019


Free medical consultation in work with 3rd party to engage KOL at online platform

Promote sintilimab’s international quality to HCP together with Lilly at 3rd part platform (CSCO)

Innoventbio Oncology Form covered the Top KOL in China, including 3 academician

KOL interview after NRDL landing, propagate the affordability to HCP and patients

Established Competitive Brand Perception with High Quality KOL Engagement

InnOncology Online Medical Consultation

NRDL KOL interview Cooperate with Lilly


Established Broad and Deep Commercial Footprint throughout China

30Provinces Coverage

~300Cities

Coverage

~2,000 Target

Hospital

~500 DTP/

Pharmacies

~700Commercial Team Size


Built a Competitive and Professional Commercial Force

SALES SOUTH CHINA

MEDICALAFFAIRS

KEWIN XU

• East 1

• East 2

• Key Account Management

• South

CINDY ZHU

• Medical Science

• Medical Liaison

• Biomarker

• Medical Information

SALES NORTH CHINA

STRATEGIC PLANNING & ACCESS STRATEGY

DONGSHENG LIU

• North

• Beijing

• Key Account Management

• West

RACHEL DENG

• Commercial & Portfolio Strategy

• Access Strategy

• Pricing Strategy

• Market Research

MARKETING

SFE &OPERATION

SPARKLER MAO

• Medical Marketing

• General Oncology 1

• General Oncology 2

• Patient Education

BECKY MA

• Sales Performance

• Sales Incentive

• Territory Deployment

• Operation

AUTO-IMMUNE BU & CHANNEL MANAGEMENT

LI CHEN

• Auto-Immune Sales & Marketing

• Channel Management

• Bidding & Tendering

• Channel Data Management

COMMERCIAL DEVELOPMENT

JIHUA QIN

• Strategic Hospital Collaboration

• Commercial Project Management

• Overseas Market Commercialization Support

• Commercial Model Exploration

COO

MIN LIUChief Commercial Officer,General Manager ofInnovent Shanghai Branch

• Former member of Roche Global Oncology Franchise Leadership Team

• Former Vice President of one of two Oncology Business Units at Roche Pharma China, leading marketing & sales efforts for products in lung, GI, and hematology cancers


Agenda

1 Commercialization of Tyvyt® (Sintilimab Injection)


Global Partnerships


Financial Review

Outlook

2

3

4

6

5

7

RESEARCH & DEVELOPMENT


Select Robust Pipeline Across Novel Therapeutics

Biologics Small molecules Clinical progress in the U.S.First Patient Dosed in 2019

Status (China)

Products Target (s) Therapeutic Area Commercial Rights Pre-clinicalIND

Phase1 Phase 2 Phase 3 NDA LaunchedFiled Accepted

sintilimab (IBI-308) PD-1 Oncology Worldwide

IBI-303 (adalimumab biosimilar) TNF-alpha Autoimmune Worldwide

IBI-305 (bevacizumab biosimilar) VEGF-A Oncology Worldwide

IBI-301 (rituximab biosimilar) CD20 Oncology Worldwide

IBI-306 PCSK9 Metabolic Mainland China, HK, Taiwan

IBI-310 CTLA-4 Oncology Worldwide

IBI-375 (Pemigatinib) FGFR1/2/3 Oncology Mainland China, HK, Taiwan, Macau

IBI-376 (Parsaclisib) PI3Kδ Oncology Mainland China, HK, Taiwan, Macau

IBI-377 (Itacitinib) JAK1 Oncology: GVHD Mainland China, HK, Taiwan, Macau

IBI-362 OXM3 Metabolic Mainland China, HK, Taiwan, Macau

IBI-101 OX40 Oncology Worldwide

IBI-188 CD47 Oncology Worldwide

IBI-318 PD-1/PD-L1 Oncology Mainland China, HK, Macau

IBI-302 VEGF/Complement proteins Ophthalmology Worldwide

IBI-110 LAG-3 Oncology Worldwide

IBI-315 PD-1/HER2 Oncology Worldwide

IBI-326 BCMA-CART Oncology Worldwide

IBI-322 PD-L1/CD47 Oncology Worldwide

IBI-939 TIGIT Oncology Worldwide

IBI-112 IL-23 p10 Autoimmune Worldwide

IBI-319 PD-1/undisclosed target Oncology Mainland China, HK, Macau

IBI-323 LAG-3/PD-L1 Oncology Worldwide

IND approved: Dec 2016

IND approved: Sep 2017

IND approved: Jun 2019

IND filed: Jan 2020

NDA filed: Jan 2019

NDA filed: Nov 2018

NDA filed: Jun 2019

IND approved: Feb 2018

IND approved: Jun 2018

IND approved: Feb 2019

IND approved: Aug 2018

NDA approved: Dec 24, 2018

IND approved: Nov 2019



IND approved: Jul 2019

IND filed: Jan 2020

IND approved: Sep 2019

IND approved: Jan 2020

IND approved: Jan 2020

Jan 2019: First Patient Dosed in

China

March 2019: First Patient Dosed

in the U.S.

NDA Acceptance *

******

*

*

*

*


Robust R&D Platforms and Oncology Product Candidates

IBI-308 (PD-1)

IBI-301 (CD20)

IBI-305 (VEGF-A)

IBI-310 (CTLA-4)

IBI-188 (CD47)

IBI-101 (OX40)

IBI-110 (LAG-3)

IBI-939 (TIGIT)

IBI-375 (FGFR1/2/3)

IBI-376 (PI3Kδ)

IBI-377 (JAK1)

IBI-318 (PD-1/ PD-L1)

IBI-315（PD-1/HER2）

IBI-322 (PD-L1/ CD47)

IBI-323 (LAG-3/PD-L1)

IBI-319 (PD-1/unspecified)

IBI-326 (fully human

BCMA CAR-T)


Clinical Development Programs for Tyvyt® (Sintilimab Injection) 27 Studies with 12 Registratinal or Pivotal Trials Ongoing or under Planning

Symbols: = completed; = completed patient enrollment; = in progress; = to be initiated within next quarter.

STATUS

INDICATION MONO-/COMBO-THERAPY (OTHER COMPONENTS)PHASE 1

PHASE 2 PHASE 3 NDA FILEDNDA

APPROVED1A 1B

China

r/r Classical Hodgkin’s Lymphoma Mono

1L Non-squamous NSCLC Combo (pemetrexed and cisplatin)

1L Squamous NSCLC Combo (gemcitabine and platinum)

2L Squamous NSCLC Mono

1L Hepatocellular Carcinoma Combo (IBI-305 /biosimilar to bavecizumab)

EGFR+ TKI Failure NCSLC (MRCT) Combo (IBI-305 /biosimilar to bavecizumab)

1L Gastric Cancer Combo (capecitabine and oxaliplatin)

1L Gastric Cancer (CPS ≥10) Combo (Ramucizumab)

1L Esophageal Carcinoma (MRCT) Combo (paclixel and cisplatin/5-FU and cisplatin)

2L Classical Hodgkin’s Lymphoma Combo (ICE)

Melanoma (adjuvant) Combo (IBI-310/CTLA-4 mAb )

2L ESCC Mono

r/r NK/T-cell Lymphoma Mono

3L CRC Combo (IBI-310/CTLA-4 mAb )

Refractory Gastrointestinal Cancer Mono

1L Gastric Cancer Combo (capecitabine and oxaliplatin)

2L NSCLC Mono

1L/2L Melanoma Mono

Met primary endpoint in interim analysis


Clinical Development Programs for Tyvyt® (Sintilimab Injection) 27 Studies with 12 Registratinal or Pivotal Trials Ongoing or under Planning

Symbols: = completed; = completed patient enrollment; = in progress; = to be initiated within next quarter.

STATUS

INDICATION MONO-/COMBO-THERAPY (OTHER COMPONENTS)PHASE 1

PHASE 2 PHASE 3 NDA FILEDNDA

APPROVED1A 1B

China

1L Squamous NSCLC Combo (gemcitabine and cisplatin)

2L Neuroendocrine Tumor Mono

Solid Tumors/colorectal cancer Combo (Fruquintinib)

Solid Tumors/cholangiocarcinoma Combo (Surufatinib)

3L colorectal cancer Combo (Chidamide)

2L Hepatocellular Carcinoma Combo (siRNA)

U.S.

1L Esophageal Carcinoma (MRCT) Combo (paclixel and cisplatin/5-FU and cisplatin)

Solid Tumors Mono

Late Stage Endometrial Carcinoma Mono


Clinical Highlights of Tyvyt® (Sintilimab Injection) andIBI-303 (Biosimilar to Adalimumab)

Cover Story of Tyvyt® (sintilimab)

at The Lancet Haematology

Published at Inaugural Issue of

The Lancet Rheumatology

Pivotal trials in patients with relapsed or refractory classical Hodgkin’s lymphoma

97.9% DCR, 85.4% ORR, 42.7% CR

Equivalence trial between IBI-303 and adalimumab

The first China-based Phase 3 report of biosimilar appears in the first-tier medical journal


Agenda


MANUFACTURING FACILITIES

Global Partnerships


Financial Review

Outlook

2

3

4

6

5

7



4 x 15,000 L Planned

5 x 1,000 L In Operation6 x 3,000 L in Operation

TOTAL CAPACITY IN THE FUTURE: 83,000 L

State-of-the-art Manufacturing Facilities Designed, Built and Operated at International Standards with Large Scale

Manufacturing

facilities received

GMP certification

from the NMPA

for manufacturing

Tyvyt® (sintilimab)

in December 2018

Designed for FDA, EMA and NMPA

standards and support the full

process from DS to DP. DS, DP and

GMP successfully passed audit.

Becoming one of the largest in China on scale.

Undergone ordinary course,

comprehensive annual audits of

production facilities to evaluate

compliance with industry GMP and

quality compliance standards.

Manufacturing team with

extensive experience at multi-

national pharmaceutical

companies.


Agenda



GLOBAL PARTNERSHIPS


Financial Review

Outlook

2

3

4

6

5

7



Striving to Be the Partner of Choice

Strategic Partnerships with Renowned Global Partners

Mar 20th, 2015

• Innovent licensed out PD-1 mAb ex-China to Lilly

• Co-development of 3 mAbs in China

• Upfront payment of $56 M, potential milestone payments > US$0.4 B

Oct 12th, 2015

• Innovent licensed out ex-China rights, and received China rights of additional 3 PD-1 bispecific mAbs to / from Lilly

• Potential milestone payments > $1 B

• Lilly returned the PD-1 ex-China rights in late 2017

Dec 17th, 2018

• Innovent licensed in 3 clinical-stage molecules

• Transformed Innovent from only a focus on mAbs to innovative products regardless of molecule size

• Demonstrated Innovent‘s capability to help global partners bring their innovative therapies into China

Aug 22nd, 2019

• Licensing agreement with Lilly to develop & commercialize a Novel Diabetes Medicine in China

• Potential best-in-class clinical stage product

• Innovent’s therapeutic areas extended to diabetes

Other Global Partnerships

Jul, 2013

• Therapeutic antibody discovery platform

Jun, 2016

• Bispecific antibody platform

Mar, 2017

• Bispecific antibody collaboration

Nov, 2018 & Oct, 2019

• Clinical collaboration

Jan, 2019


Jan, 2020


Aug, 2019


Jan, 2020

• Partnership on IBI-305 (bevacizumab biosimilar)

Mar, 2020

• anti-SIRP-α antibody collaboration


Expanded Collaboration with Eli Lilly

• Licensed in a mid-stage potentially global best-in-class diabetes

molecule for China development and commercialization

Expanded efforts in metabolic diseases into the diabetes area

• Licensed out ex-China right of additional 3 PD-1 bispecific mAbs to Lilly

May receive milestones >$1 billion

• Licensed out PD-1 mAb ex-China to Lilly, Co-development of

3 mAbs in China

Received upfront payment of $56 million and may receive

milestones >$0.4 bn

OXM3

3 PD-1 bispecific mAbs

3 mAbs , including PD-1 mAb

1

23


Agenda



Global Partnerships

ORGANIZATION & FUNDRAISE

Financial Review

Outlook

2

3

4

6

5

7



Expanded All-Rounded Talent Team

Commercialization Team R&D Team CMC Team General and Administrative Team

700+ employees 500 employees 100+ employees

~2,000 employees

700 employees

Fully fledged team in sales, medical affairs, strategy planning and operation functions


Executives with a Proven Track Record of Success

Visionary Founder, Chairman and CEO Supported by Experienced Management Team

Dr. MICHAEL YUFounder, Chairman & CEO

• Inventor of Oncorine®, Co-inventor of Conbercept and Tyvyt®, three innovative biologics in China

• Inventor of 60+ issued patents & patent applications

• Authorship of 50+ SCI scientific articles & book chapters

Over 20 YEARS OF INDUSTRY EXPERIENCE

• 1997 – 2001: Vice President, Calydon, USA

• 2001 – 2005: Principal Scientist, Cell Genesys, USA

• 2005: Vice President of R&D, Applied Genetics, USA

• 2006 – 2010: Director, Founding President, and CEO, Chengdu Kanghong Biotech

• 2011 to date: Founding President and CEO, Innovent Biologics

Dr. QINWEI ZHOU

Chief Operating Officer

RONNIE EDE

Chief Financial Officer

MIN LIU

Chief Commercial Officer,General Manager of

Innovent Shanghai Branch

VIVIAN ZHANG

Chief People Officer

• Over 20 years of biotech and

biopharma experience

• Former Vice President at Eli Lilly in

charge of bioanalytical science and

Vice President at ImClone

• Former CFO of Mindray Medical

International Ltd. Responsible for

Finance, Investor Relation, North

America Operations, and Internal

Audits

• Former CFO of Biosensors

International Ltd.

• Former member of Roche Global

Oncology Franchise Leadership

Team

• Vice President of one of two

Oncology Business Units at Roche

Pharma China, leading marketing &

sales efforts for products in lung, GI,

and hematology cancers

• In charge of the operations of the

CEO‘s office

• Responsible for Human Resources

and Administration, Government

Affairs, Public Relations as well as

Legal


Senior Management Team with a Proven Track Record of Success

Visionary Founder, CEO and Chairman Supported by Experienced Management Team

Zane YangSVP

Amy QueSVP

Wei XuSVP

Junjian LiuVP

Wei XuVP

Bo YiVP

Amy GuoVP

BlakeSalisburyVP

Kelly YuVP

Lena ZhouVP

Xia QingVP

Kedan LinVP

General ManagerInnovent Biologics (U.S.), Inc.

Quality (QC & QA) Manufacturing Biologics Discovery Translational Science

Regulatory Affairs

International Division

Business Development

Supply Chain Government Affairs

EngineerInnovent Biologics (U.S.), Inc.

Kaisong ZhouVP

Yun KangVP

Jianfeng GaoVP

Hui ZhouVP

Process Development& Analytical Sciences

Manufacturing Quality Assurance Medical Science


US$304MFollow-On Offering (October 2019)

Continued interests and confidence of global investors

Track record in delivering

Capability to exceed market expectations

The only Chapter 18A biotech company having completed follow-on in Hong Kong

Strong Support from Globally Renowned Investors

US$5MSeries A

US$30MSeries B

US$115MSeries C

US$262MSeries D

US$485MIPO &

Cornerstone

Oct, 2011 June, 2012 Jan, 2015 Nov, 2016 Jan, 2018 Oct, 2018

US$150MSeries E

US$303MFollow-On Offering (February 2020)

Over US$1.7B in aggregate

The largest IPO fund raise at the time for pre-revenue biopharmaceutical company

Over US$600M follow-on offering

The first and only successful follow-on offering in the Biotech Board in the HKEX


Recognitions by the Investment Communities

Awarded by CHIC (China Healthcare Investment Conference) the “IPO of the year 2018”

ASIA-PACIFIC IPO OF THE YEAR

HONG KONG EQUITY ISSUE OF THE YEAR

A component of the MSCI China

Included in the Hang Seng Hong Kong-Listed Biotech Index


Agenda



Global Partnerships


FINANCIAL REVIEW

Outlook

2

3

4

6

5

7



Income Statement

IFRS Measure

Year ended 31 December

RMB'million 2019 2018

Revenue 1,047.5 9.5

Cost of sales (124.9) -

Gross profit (IFRS Measure) 922.6 9.5

Other income 144.1 93.8

Research and development expenses (1,294.7) (1,221.7)

Selling and marketing expenses

-Direct selling and marketing expenses (692.5) (136.0)

-Payments under collaboration arrangements (499.7) -

Administrative expenses (255.3) (220.3)

Other gains and losses 15.1 (4,272.1)

Finance costs (59.5) (69.0)

Listing expenses - (57.2)

Loss for the year (IFRS Measure) (1,719.9) (5,873.0)

Revenue

In 2019, we generated revenue of RMB1,047.5 million,including RMB1,015.9 million driven by product sales of Tyvyt® (sintilimab injection)

Other income consists of government grants and interest income

Expenses

R&D expenses was mainly due to 8 pivotal or registration trials for Tyvyt® (sintilimab injection) to cover all the major indications in China

The increase in S&M expenses was due to the commercial launch of Tyvyt® (sintilimab injection) during the year of 2019

IFRS loss for the year

IFRS loss for the year was RMB1,719.9 million


Income Statement

Non-IFRS Measure


RMB'million 2019 2018

Revenue 1,047.5 9.5

Cost of sales (113.4) -

Gross profit (IFRS Measure) 934.1 9.5

Other income 144.1 93.8

Research and development expenses (1,260.7) (1,204.3)

Selling and marketing expenses

-Direct selling and marketing expenses (676.2) (130.5)

-Payments under collaboration arrangements (499.7) -

Administrative expenses (169.0) (190.0)

Listing expenses - (57.2)

Operating profit (Non-IFRS Measure) (1,527.4) (1,478.7)

Other gains and losses 15.1 66.0

Finance costs (59.5) (69.0)

Loss for the year (Non-IFRS Measure) (1,571.8) (1,481.7)

Adjustments to IFRS measures (148.1) (4,391.3)

Loss for the year (IFRS Measure) (1,719.9) (5,873.0)

Adjustments to IFRS measures mainly consist of share-based compensation expenses for the year ended 31 December 2019. Loss for the year ended 31 December 2018 included a non-cash, non-recurring fair value changes on preferred shares of RMB 4,338.0 million



RMB'million 2019 2018 Bank balances and cash 4,232.6 4,525.4

Other financial assets 462.6 -

Trade receivables 247.9 -

Contract assets 2.2 7.5

Other receivables 151.6 73.6

Inventories 358.6 66.1

Income tax recoverables - 13.7

Total Current Assets 5,455.4 4,686.3

Property, plant and equipment 1,344.8 1,078.1

Right-of-use assets 91.5 -

Prepaid lease payments - 52.8

Deposits for acquisition of property,plant and equipment 84.8 45.1

Other receivables and tax recoverables 252.0 250.3

Other financial assets 2.0 -

Total Non-current Assets 1,775.1 1,426.3

Total Assets 7,230.5 6,112.6

Trade payables (84.3) (42.8)

Other payables and accrued expenses (885.0) (600.5)

Contract liabilities (41.7) (17.0)

Borrowings (17.0) (10.0)

Lease liabilities (15.5) -

Total Current Liabilities (1,043.6) (670.3)

Government grants (16.5) (16.0)

Contract liabilities (581.8) (449.9)

Borrowings (808.0) (782.0)

Lease liabilities (24.5) -

Total Non-current Liabilities (1,430.8) (1,247.9)

Total Liabilities (2,474.4) (1,918.2)

Total Equity 4,756.1 4,191.4

Balance Sheet

Cash balance

As of December 31, 2019, our total

cash increased to RMB4,695.2 million


Agenda



Global Partnerships


Financial Review

OUTLOOK

2

3

4

6

5

7



Key Upcoming Milestones and Catalysts2020 to Early 2021

SALESGROWTH

• Continue to drive Tyvyt® growth and achieve stronger sales momentum in 2020 and beyond with solid foundation layout during 2019

• Leverage NRDL inclusion to expand patient access to Tyvyt®

• Continue to broaden and deepen sales penetration

• Launch IBI-303 (biosimilar to adalimumab), expect to benefit from early-mover advantage in 2020

• Launch IBI-305 (biosimilar to bevasizumab), expect to benefit from early-mover advantage in 2020

• Prepare commercialization of IBI-301 (biosimilar to rituximab) in 2020

• Receive 3 NDA approvals: for IBI-303 and IBI-305 in 2020, for IBI-301 in late 2020 or early 2021

• Submit 5 NDAs for Tyvyt®: in 1L nsq NSCLC, 1L sq NSCLC, 2L sq NSCLC, 1L HCC, 2L EC

• Complete 2 registrational trials patient enrollment for Tyvyt®: in 1L EC and 1L GC

• Conduct 17+ registrational or pivotal trials, including IBI-188 in China and U.S., IBI-318, IBI-310, IBI-306, IBI-375, IBI-376 in China

• 10+ key study results data readout and to be presented in medical meetings

• Further expand manufacturing facilities and capabilities to commensurate with growing and maturing drug pipeline and support continuous business expansions

• Establish Innovent Academy, pursuing science and innovation, to build a research platform for new drug discovery, innovative technologies and first-in-class drugs and to continuously output innovative products

COMMERCAL LAUNCHES

CLINICAL ADVANCEMENT

CORPORATE DEVELOPMENT

01 02 03 04


Expected Multiple Studies Advancement with Continuous Execution 2020 to Early 2021

Phase 1

Phase 2

Phase 3

NDA

2728

2313

5

IND

57+

Clinical Trials

Patients in Studies

8000+

Clinical Sites

230+

Launch

4*

* Tyvyt approved in Dec 2018, plus three NDA approvals expected in 2020 or early 2021

301 303 305

Tyvyt® (sintilimab injection)

Biosimilar to Rituximab

Biosimilar to Adalimumab

Biosimilar to Bevacizumab


Innovent: a Leading Platform Company

Fully-integrated, Multi-function Platform with World-class Discovery, Development,

Manufacturing and Commercialization Capabilities

Discovery

CMC (Manufacturing & Quality) Clinical Development

Commercialization

2019 Annual Results Presentation - investor.innoventbio.com

Documents

Transcript of 2019 Annual Results Presentation - investor.innoventbio.com