Since raising USD 289 million in its Spring 2020 Hong Kong IPO, InnoCare Pharma has had a remarkable rise. Led by a team of Big Pharma veterans and now also listed in Shanghai, the firm has secured regulatory approvals for its BTK inhibitor for haematological cancers in mainland China and Singapore, as well as a Breakthrough Therapy designation from the US FDA in 2021. Now revenue generating, InnoCare’s leadership also have ambitious plans in place to move the dial on chronic inflammatory skin conditions.
InnoCare has a diverse pipeline with 13 innovative drugs in clinical stages. However, the firm is best known for its main commercial product, the BTK inhibitor Orelabrutinib. BTK inhibitors block the Bruton’s Tyrosine Kinase protein, which helps certain immune cells (B-cells) grow and survive. By stopping BTK, these drugs can slow down or stop diseases where B-cells grow out of control, including certain blood cancers and autoimmune diseases.
First approved in China in 2020 and included in the country’s national reimbursement drug list (NRDL) for several hematologic malignancy indications since 2021, Orelabrutinib was the first step in transforming InnoCare into a revenue-generating company, a feat only achieved by a handful of Chinese biotechs. The product brought in CNY 420 million (USD 58 million) in the first half of 2024, representing a year-on-year increase of 30 percent.
The company’s CEO and co-founder Jasmine Cui explains that InnoCare is now filling what was a major unmet need for patients in China. “We recognised the effectiveness of these inhibitors in extending the lives of lymphoma patients, particularly in comparison to traditional chemotherapy, but there was a significant gap in their availability in China,” she says.
“This led us to develop our own BTK inhibitor, which boasts improved safety profiles and efficacy compared to existing options. The urgency of clinical needs and the positive response from physicians drove us to expedite the development process, resulting in rapid clinical trials and subsequent approvals.”
Beyond cancer, Innocare is also hopeful of changing the landscape for those living with skin conditions in China. For example, several million people live with psoriasis in China, but Cui insists that current treatment options “do not fully address their needs” with a “particularly acute demand for new, oral medications.” InnoCare currently has an oral candidate in the clinical trial process, with its tyrosine kinase 2 (TYK2) inhibitor hitting the main goals of a phase II trial in China in October 2024.
In tandem, InnoCare also has a TYK2 inhibitor (a small molecule dual inhibitor, targeting both IL-4 and IL-13 pathways, that calms down the body’s “inflammatory signals” to relieve itching, redness, and swelling) indicated for atopic dermatitis; a field dominated by Sanofi’s blockbuster Dupixent. However, despite the challenges of an already-crowded space, Cui is confident that there remains room for differentiated new entrants. “This novel class of drug aims to address limitations observed with existing treatments, such as delayed responses and the need for frequent injections,” she explains. “By targeting multiple pathways simultaneously, we anticipate a more robust and rapid response, enhancing patient outcomes and comfort.”
Having started out with a workforce of just 10 back in 2015, the firm now boasts a 1,200-strong team, a revenue-generating product in China, and much hope for future growth and internationalisation, ultimately for the benefit of patients. However, this cannot happen in a silo, and Cui is eager to engage in partnerships to drive change. “Innovation knows no boundaries, and we are dedicated to collaborating with global partners to bring our transformative therapies to patients worldwide,” she concludes.
