Sino Biopharmaceutical Reports RMB 31.83 Billion Revenue in 2025 with Aggressive BD Moves to Accelerate Innovation Pipeline

China Securities News (reported by Fu Su Ying) — On the evening of March 26, Sino Biopharm released its full-year 2025 financial report. The report showed that the company achieved a total revenue of 31.83 billion yuan, representing a year-on-year increase of 10.3%; the adjusted net profit attributable to shareholders was 4.54 billion yuan, marking a year-on-year increase of 31.4%, and it has realized double-digit growth for four consecutive reporting periods.

Since the beginning of 2026, the company's business development (BD) activities have been frequent, intensifying its innovative layout. In January, the company fully acquired Hygieia, an siRNA field enterprise, for 1.2 billion yuan, obtaining its ultra-long-acting siRNA delivery platform; in February, it reached a global collaboration with the global pharmaceutical giant Sanofi on the JAK/ROCK inhibitor Rovacitinib. The deal set a record high in the transplantation field.

In July 2025, the company acquired Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. for $950 million, gaining access to its antibody discovery and ADC technology platforms, as well as several products at critical clinical stages, such as LM-302 and LM-108, further strengthening its cutting-edge presence in the field of tumor immunology. Over the past few years, the company has achieved over 30 external collaborations through various means, including out-licensing, mergers and acquisitions, and pipeline introductions.

In terms of pipeline layout, the company relies on the "internal R&D + external M&A" model and has reserved multiple products with global potential. In the field of oncology, LM-302 (Claudin18.2 ADC) has completed patient enrollment for the Phase III trial in third-line gastric cancer, and the Phase III trial for first-line gastric cancer has been initiated; LM-108 (CCR8 monoclonal antibody) has entered Phase III for second-line gastric cancer. In the areas of liver disease and cardiovascular metabolism, Kylo-11 LPA siRNA, acquired through the acquisition of Hygieia, is currently in Phase II clinical trials, while Kylo-12 (APOC3 siRNA) is expected to enter Phase II clinical trials in the second half of 2026. The PCSK9 dual-target siRNA is expected to initiate clinical trials in 2026.

In addition, the company has multiple products in the weight loss and muscle gain field that will enter clinical trials. HJY-10 (INHBE siRNA) is expected to enter the clinical stage as early as 2026; Phase I data of the PD-1/VEGF bispecific antibody licensed to Merck is planned to be released at the AACR in 2026.