Keymed Biosciences Releases Strong Financial Results and Updates for First Half of 2026
On August 19, 2026, Keymed Biosciences, listed on HKEX under the stock number 02162, revealed its interim results for the six months ending June 30, 2026. The company achieved total revenue of 617 million RMB, representing a substantial leap compared to previous figures. This impressive growth is significantly attributed to the outstanding performance of its main product, Kangyueda, which generated sales of 393 million RMB - a remarkable increase of 132% year-on-year. The robust sales were supported by a dedicated commercial team consisting of nearly 500 professionals who have established a presence in over 1,600 hospitals.
Additionally, Keymed reported revenue from collaborations amounting to 224 million RMB, primarily driven by successful milestones achieved in partnership with AstraZeneca. The period also marked a significant turnaround for Keymed as it reported a profit of 122 million RMB, after previously facing losses, validating its strategic initiatives. The company’s cash reserves stood at a healthy 3.24 billion RMB, providing a solid financial foundation for future endeavors.
A noteworthy enhancement to Keymed's product portfolio came in July 2026, when Kangyueda was included in the National Essential Medicines List, effective September 1, 2026. This inclusion is anticipated to accelerate the product's penetration into primary healthcare markets and county-level facilities, thereby expanding its reach and benefitting a broader patient demographic.
Keymed is not only focused on improving Kangyueda but is also expanding its pipeline with new drug applications. There was an acceptance of a New Drug Application (NDA) for Stapokibart aimed at treating Atopic Dermatitis (AD) in adolescents and nodular prurigo. Furthermore, the company is currently participating in Phase III trials for pediatric AD and adolescent Sarcoidosis.
On June 5, 2026, Keymed's strategic partnership with Gilead and Lakefront led to the acquisition of Ouro Medicines, which is pivotal for developing CM336, a bispecific antibody targeting BCMA and CD3. Keymed has received an upfront payment of $257 million, with the potential for an additional $70 million tied to future milestones, along with a right to earn up to $610 million through potential future milestones and escalating royalties. Lakefront will spearhead early-stage clinical studies for CM336/OM336, while Gilead will manage regulatory affairs and advanced trials, enjoying global marketing rights outside of Greater China.
In oncology developments, a global Phase III study (CMG901/AZD0901) targeting first-line treatment in gastric cancer has initiated its first patient enrollment, and a perioperative study is ongoing, with plans to explore additional indications in biliary and pancreatic cancers.
Furthermore, in June 2026, CM355/PRO-203 was administered to a patient suffering from systemic sclerosis, with plans to initiate further autoimmune studies in 2026.
A promising aspect of Keymed’s innovation is CM512, a bispecific antibody targeting TSLP/IL-13, which achieved all Phase II objectives for chronic rhinosinusitis with nasal polyps (CRSwNP) and demonstrated a substantial reduction in polyps with a durability of six months from a single injection, marking the start of Phase III trials. This product is also indicated for asthma, chronic obstructive pulmonary disease (COPD), atopic dermatitis, allergic rhinitis, and chronic spontaneous urticaria (CSU).
As the company progresses into more complex therapeutic areas, CM336 is currently in its Phase II for light chain amyloidosis, actively recruiting patients, with an innovative therapy designation awarded in May. The Phase I/II trials for autoimmune cytopenias have completed their initial phase, and Phase Ib for Sjögren's syndrome commenced in July. Keymed's progress in oncology also includes the acceptance of an Investigational New Drug Application (IND) for sequential therapies using CM336 alongside CM313 for relapsed refractory multiple myeloma.
As Keymed celebrates its tenth anniversary, the company stands firm on its dual strategy centered on patient needs, aiming to accelerate global innovation while generating sustainable value. The operation boasts six integrated platforms with production capacity in Chengdu of 21,800 liters, poised to grow with the upcoming operational status of an additional 24,000 liters. By June 30, 2026, Keymed had 1,768 full-time employees, with 500 dedicated to commercial efforts and an additional 420 in R&D and clinical development.
Additionally, Keymed reported revenue from collaborations amounting to 224 million RMB, primarily driven by successful milestones achieved in partnership with AstraZeneca. The period also marked a significant turnaround for Keymed as it reported a profit of 122 million RMB, after previously facing losses, validating its strategic initiatives. The company’s cash reserves stood at a healthy 3.24 billion RMB, providing a solid financial foundation for future endeavors.
A noteworthy enhancement to Keymed's product portfolio came in July 2026, when Kangyueda was included in the National Essential Medicines List, effective September 1, 2026. This inclusion is anticipated to accelerate the product's penetration into primary healthcare markets and county-level facilities, thereby expanding its reach and benefitting a broader patient demographic.
Keymed is not only focused on improving Kangyueda but is also expanding its pipeline with new drug applications. There was an acceptance of a New Drug Application (NDA) for Stapokibart aimed at treating Atopic Dermatitis (AD) in adolescents and nodular prurigo. Furthermore, the company is currently participating in Phase III trials for pediatric AD and adolescent Sarcoidosis.
On June 5, 2026, Keymed's strategic partnership with Gilead and Lakefront led to the acquisition of Ouro Medicines, which is pivotal for developing CM336, a bispecific antibody targeting BCMA and CD3. Keymed has received an upfront payment of $257 million, with the potential for an additional $70 million tied to future milestones, along with a right to earn up to $610 million through potential future milestones and escalating royalties. Lakefront will spearhead early-stage clinical studies for CM336/OM336, while Gilead will manage regulatory affairs and advanced trials, enjoying global marketing rights outside of Greater China.
In oncology developments, a global Phase III study (CMG901/AZD0901) targeting first-line treatment in gastric cancer has initiated its first patient enrollment, and a perioperative study is ongoing, with plans to explore additional indications in biliary and pancreatic cancers.
Furthermore, in June 2026, CM355/PRO-203 was administered to a patient suffering from systemic sclerosis, with plans to initiate further autoimmune studies in 2026.
A promising aspect of Keymed’s innovation is CM512, a bispecific antibody targeting TSLP/IL-13, which achieved all Phase II objectives for chronic rhinosinusitis with nasal polyps (CRSwNP) and demonstrated a substantial reduction in polyps with a durability of six months from a single injection, marking the start of Phase III trials. This product is also indicated for asthma, chronic obstructive pulmonary disease (COPD), atopic dermatitis, allergic rhinitis, and chronic spontaneous urticaria (CSU).
As the company progresses into more complex therapeutic areas, CM336 is currently in its Phase II for light chain amyloidosis, actively recruiting patients, with an innovative therapy designation awarded in May. The Phase I/II trials for autoimmune cytopenias have completed their initial phase, and Phase Ib for Sjögren's syndrome commenced in July. Keymed's progress in oncology also includes the acceptance of an Investigational New Drug Application (IND) for sequential therapies using CM336 alongside CM313 for relapsed refractory multiple myeloma.
As Keymed celebrates its tenth anniversary, the company stands firm on its dual strategy centered on patient needs, aiming to accelerate global innovation while generating sustainable value. The operation boasts six integrated platforms with production capacity in Chengdu of 21,800 liters, poised to grow with the upcoming operational status of an additional 24,000 liters. By June 30, 2026, Keymed had 1,768 full-time employees, with 500 dedicated to commercial efforts and an additional 420 in R&D and clinical development.
Topics Health）
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