Company Overview - Jacobio Pharmaceuticals focuses on developing first-in-class innovative drugs targeting the global market, moving away from the me-too or bio-similar drug approach prevalent in China[26]. - The company was established in 2015 and aims to achieve a top-three position in specific therapeutic areas globally, leveraging patent licensing to gain market share and milestone payments[26]. - Jacobio Pharmaceuticals has developed a heterogeneous site inhibitor technology platform to address technical challenges in preclinical research for small molecule drugs, aiming to create globally innovative drugs[26]. - The company emphasizes the importance of translating scientific research into clinical applications to provide new products for human health[25]. - Jacobio Pharmaceuticals recognizes that the era of me-too innovation is diminishing, and future opportunities belong to companies capable of developing original drugs for the global market[26]. - The company is committed to integrating research, production, and market sales in China to enhance its pharmaceutical capabilities[26]. - Jacobio Pharmaceuticals aims to leverage the achievements in life sciences to transform cancer treatment and improve the quality of life for patients[25]. - The company is focused on innovation as a pathway to success in the competitive biopharmaceutical industry[26]. - Jacobio Pharmaceuticals is positioned to capitalize on the changing healthcare procurement policies that are reshaping the drug development landscape[26]. Financial Performance - The company's revenue for the year ended December 31, 2020, was RMB 486.3 million, attributed to research, development, production, and commercialization efforts[30]. - Research and development expenses increased from RMB 139.0 million in 2019 to RMB 186.0 million in 2020, primarily due to the expansion of clinical trials and increased employee benefits[31]. - The company reported a net loss of RMB 1,694.4 million for the year ended December 31, 2020, up from RMB 235.6 million in 2019[33]. - Operating cash inflow for the year ended December 31, 2020, was RMB 78.8 million, an increase of RMB 191.9 million compared to the previous year, mainly due to revenue from a licensing and collaboration agreement with AbbVie[34]. - The company invested over RMB 230 million in research and development in 2020, a year-on-year increase of 65%[1]. - Revenue from licensing and collaboration agreements increased to RMB 486.3 million in 2020, a 100% increase from zero in 2019, primarily due to a partnership with AbbVie[82]. - Gross profit from licensing and collaboration agreements reached RMB 442.2 million in 2020, up from zero in 2019[83]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in 2020, representing a growth of 15% compared to the previous year[31]. Research and Development - The SHP2 inhibitor has entered Phase II clinical trials, with combination therapy trials approved in both China and the U.S.[1]. - The company plans to expand its product pipeline focusing on five major tumor signaling pathways and will continue to seek partnerships for global market expansion[1]. - A new R&D and production base of 20,000 square meters is under construction in Beijing Yizhuang[1]. - The company aims to enhance its R&D capabilities by establishing a new center in Shanghai in addition to its existing labs in Beijing and Boston[1]. - The company has filed for over 60 international patents, with the SHP2 inhibitor being the second globally to enter human trials[1]. - JAB-22000, a small molecule KRAS G12D inhibitor, is in the lead compound optimization stage, with IND submission planned for 2022-2023[43]. - JAB-26000, a small molecule targeting tumor immune signaling pathways, is also in the lead compound optimization stage, with IND submission planned for 2022-2023[43]. - JAB-23000, a small molecule KRAS G12V inhibitor, is in the hit-to-lead stage, with IND submission planned for 2023-2024[43]. - The company entered a global strategic collaboration with AbbVie in May 2020 to develop and commercialize SHP2 inhibitors, including JAB-3068 and JAB-3312[44]. - As of March 26, 2021, the company has three assets in Phase I/II trials and several other assets in the IND pre-activation stage[48]. Strategic Partnerships - The company is actively seeking strategic partnerships with leading multinational companies to enhance the success rate of its candidates[47]. - The collaboration with AbbVie includes exclusive rights for the development and commercialization of SHP2 inhibitors in specific regions, enhancing market entry advantages[60]. - A strategic collaboration with AbbVie was established in May 2020 for the global development and commercialization of SHP2 inhibitors, including JAB-3068 and JAB-3312[60]. Corporate Governance - The company has adopted the Corporate Governance Code and is committed to high standards of corporate governance to protect shareholders' interests[147]. - The board consists of 12 members, including 4 executive directors, 4 non-executive directors, and 4 independent non-executive directors as of December 31, 2020[148]. - The company has established a robust governance framework to monitor the performance and contributions of its directors[135]. - The independent directors are not involved in the daily operations of the company, allowing them to maintain objectivity in their oversight roles[135]. - The company has a clear delegation of authority to management, ensuring regular reviews of business performance and resource coordination[150]. Environmental, Social, and Governance (ESG) Initiatives - The company actively identifies and complies with ESG-related laws and regulations in its operating countries, integrating ESG management into daily operations[190]. - The company has committed to green operations, adhering to multiple environmental protection laws in China and promoting energy conservation and emission reduction[194]. - The company has established various communication channels to engage with stakeholders, including shareholders, employees, and suppliers[193]. - The company is committed to reducing the negative environmental impact of its operations while supporting employee health and development[190]. - Total comprehensive energy consumption for 2020 was 1,042.90 MWh, with per capita energy consumption at 6.17 MWh per employee[199].
加科思-B(01167) - 2020 - 年度财报