Xin Lang Cai Jing·2025-12-02 12:05Core Viewpoint - Fosun Pharma's subsidiary, Fuhong Hanlin, has received approval from the National Medical Products Administration for clinical trials of HLX37 injection for treating advanced/metastatic solid tumors [1][4]. Group 1: Product Development - HLX37 is a recombinant humanized bispecific antibody targeting PD-L1 and VEGF, aimed at treating advanced/metastatic solid tumors [3][6]. - Preclinical studies indicate that HLX37 can inhibit tumor growth and has good safety profiles [3][6]. - The company plans to initiate Phase I clinical trials for HLX37 in China once conditions are met [3][6]. Group 2: Financial Investment - As of October 2025, the cumulative R&D investment for HLX37 is approximately 50.23 million yuan [3][6]. - According to IQVIAMIDAS™ data, the global sales forecast for PD-1/PD-L1 and VEGF bispecific antibody products in 2024 is around 920,000 USD [3][6]. Group 3: Company Performance - During the Q3 earnings call on November 20, the company reported that innovative drug revenue exceeded 6.7 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 18.09% [3][6]. - The company has set a target for a 20% compound annual growth rate for innovative drug revenue from 2025 to 2027 [3][6]. - Future strategies include increasing R&D investment, accelerating clinical and commercialization processes for key projects, and strengthening global operations to drive steady growth in the innovative drug business [3][6].