#China #Chengdu #Keymed Biosciences #Kangyueda #CM336

Keymed Biosciences Reports Strong Interim Results for H1 2026

Keymed Biosciences (HKEX: 02162), based in Chengdu, China, has unveiled its interim results for the first half of 2026, revealing a robust financial performance as it continues to expand its footprint in the biopharmaceutical industry. On August 19, 2026, the company announced a total revenue of 617 million RMB, marking a substantial increase driven primarily by its flagship product, Kangyueda.

Financial Highlights

Kangyueda generated sales of 393 million RMB, reflecting an impressive 132% year-over-year growth. This surge is largely attributed to the efforts of Keymed's dedicated sales team of nearly 500 employees, who are responsible for managing relationships with more than 1,600 hospitals across China. Additionally, the revenue from collaborative ventures reached 224 million RMB, mainly stemming from milestone payments received from AstraZeneca. The financial transition is noteworthy, as the company reported a profit of 122 million RMB, turning around from previous losses, while maintaining cash reserves of 3.24 billion RMB.

Strategic Developments

In July 2026, Kangyueda was included in the national essential medicines list, effective from September 1, 2026, which is expected to expedite its market penetration within the country and enhance access to essential healthcare services. Keymed's project pipeline also shows promising developments; regulatory submissions for Stapokibart, aimed at treating atopic dermatitis in adolescents and prurigo nodularis, have been approved, with Phase III studies currently underway.

Moreover, on June 5, Keymed's partner Ouro Medicines was acquired by Gilead and Lakefront, resulting in an advance payment of $257 million for Keymed, in addition to potential milestone payments totaling up to $610 million. Lakefront is set to oversee Phase-I and Phase-II studies for the CM336/OM336 antibody, while Gilead will manage late-stage clinical trials, holding exclusive global marketing rights outside the Greater China region.

Ongoing Clinical Trials

The company also initiated its global Phase-III clinical trial for CMG901/AZD0901, targeting first-line treatment for gastric cancer, and has expanded its scope to include biliary tract and pancreatic cancer. In a significant milestone, the first patient in a Phase-II trial for systemic sclerosis (SSc) was treated in June, with additional studies for B-cell autoimmune diseases planned to kick off later this year.

CM512, a dual-action antibody targeting TSLP/IL-13, has recently demonstrated success in a Phase II trial for chronic rhinosinusitis with nasal polyps (CRSwNP), showcasing the ability to effectively reduce polyp size after just one injection, preserving efficacy for up to six months. Meanwhile, CM336's Phase-II enrollment for light chain amyloidosis is currently active, with the drug recently granted 'Breakthrough Therapy' designation.

Workforce and Production

Keymed operates six integrated production facilities, possessing a total capacity of 21,800 liters, with plans to add new stainless-steel facilities with a capacity of 24,000 liters soon. As of June 30, the company employed 1,768 full-time staff, including 500 in sales and 420 in research, development, and clinical operations.

Celebrating its ten-year anniversary, Keymed is steadfast in its commitment to a dual-track strategy focused on patient-centric solutions and the fostering of global innovations that deliver sustainable value. The company's continued growth and successful financial performance underscore its impactful presence in an increasingly competitive industry.