Mabwell(SH:688062) Zheng Quan Shi Bao Wang·2025-11-17 10:37Core Insights - Maiwei Biotech has received approval from the National Medical Products Administration (NMPA) for its IL-11 monoclonal antibody 9MW3811 to enter Phase II clinical trials for pathological scars, marking it as the first drug targeting this indication in clinical exploration [1] - The company has established an exclusive licensing agreement with CALICO Life Sciences, which includes an upfront payment of $25 million and potential milestone payments totaling up to $571 million, along with tiered royalties based on net sales [1][2] - Maiwei Biotech reported a significant revenue increase of 301.03% year-on-year, reaching 566 million yuan in the first three quarters of 2025, driven primarily by income from innovative product collaborations [2] Group 1: Clinical Development and Partnerships - The company has a comprehensive pipeline with 15 core products at various stages, including 11 innovative drugs and 4 biosimilars, focusing on oncology and age-related diseases [2] - The Phase II clinical trial for the anti-TMPRSS6 monoclonal antibody 9MW3011 has commenced, with the first patient dosed in the U.S., marking a significant milestone in its collaboration with DISC Medicine [3] - Maiwei Biotech has entered into a partnership with Qilu Pharmaceutical for long-acting white blood cell-boosting drugs, with a contract value of up to 500 million yuan, including a non-refundable upfront payment of 380 million yuan [4] Group 2: Financial Performance - The substantial increase in technical service revenue is attributed to the licensing agreements with CALICO, Qilu, and DISC, indicating the successful commercialization of innovative research [4] - The company’s revenue from technical services reached 407 million yuan, a year-on-year increase of 715.52%, while drug sales contributed 156 million yuan, reflecting a 72.10% increase [2] - Maiwei Biotech's ongoing clinical trials for its core pipeline products, including 9MW2821 and JS207, show promising efficacy signals in treating triple-negative breast cancer [5]