2020 interim results presentation -...

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To develop and commercialize high quality biopharmaceuticals that are affordable to ordinary people

2020 Interim Results Presentation

August 2020


Disclaimer

This presentation includes forward-looking statements. All statements contained in this presentation other than statements of historical facts, including statements regarding future results of operations and

financial position of Innovent Biologics (“Innovent” “we,” “us” or “our”), our business strategy and plans, the clinical development of our product candidates and our objectives for future operations, are forward-

looking statements. The words “anticipate,” believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. We have based these

forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business

strategy, clinical development, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and

assumptions. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess

the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we

may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this presentation may not occur and actual results could differ materially and adversely from those

anticipated or implied in the forward-looking statements.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements or events and

circumstances reflected in the forward-looking statements will occur. We are under no duty to update any of these forward-looking statements after the date of this presentation to conform these statements to

actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this

presentation.

This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number

of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data

or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in

which we operate are necessarily subject to a high degree of uncertainty and risk.

This presentation may not be all inclusive and may not contain all of the information that you may consider material. Neither Innovent nor any of its affiliates, shareholders, directors, officers, employees,

agents and advisors makes any expressed or implied representation or warranty as to the completeness, fairness, reasonableness of the information contained herein, and none of them shall accept any

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receiving this presentation you acknowledge that you will be solely responsible for your own assessment of our business, the market and our market position and that you will conduct your own analysis and

be solely responsible for forming your own view of the potential future performance of our business.

This presentation is intended solely for investors that are qualified institutional buyers or institutional accredited investors solely for the purposes of familiarizing such investors with Innovent and determining

whether such investors might have an interest in a securities offering contemplated by Innovent . Any such offering of securities will only be made pursuant to an exemption from, or in a transaction not subject

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effective. No such registration statement has been filed, or become effective, as of the date of this presentation. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy any

securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any

such state or jurisdiction.


Our Mission, Vision and Development Strategy

To develop and commercialize high

quality biopharmaceuticals that are

affordable to ordinary people

To be a premier biopharmaceutical

company in the world• Robust and high quality pipeline

• Global standard cGMP biologics manufacturing facility in China

COMPANY MISSION COMPANY VISION COMPANY STRATEGY


Byvasda® (bevacizumab biosimilar) received marketing approval

Expanded Collaboration with Eli Lilly on Tyvyt®

Strategic partnership with Roche

Raised US$303million and US$360million via new shares placements

Removed “B” marker on stock name

Stock Included in HSCI

Our History

To develop and commercialize high quality biopharmaceuticals that are affordable to ordinary people

2011.8

2012

2013

2014

2015

2016 2018

20192017

Innovent was established

First IND filed with the NMPA

Strategic alliance with Adimab

First IND application received approval

Built manufacturing facilities

Strategic partnership with Eli Lilly

Passed audit on GMP system and production facilities

IBI-301 (biosimilar to rituximab), IBI-303 (biosimilar to adalimumab), IBI-305 (biosimilar to bevacizumab) entered Phase 3 clinical trials

Passed GMP audit on drug products system

Listed on the Main Board of the HKEX

NDA of IBI-303 filed with the NMPA

Tyvyt® (sintilimab injection) received marketing approval from the NMPA

Strategic partnership with Incyte

Strategic alliance with Hanmi

PD-1 inhibitor sintilimabentered Phase 3 clinical trials

Tyvyt® (sintilimab injection) listed in the NRDL

Granted priority review status for the NDAs of three biosimilars (IBI-301, IBI-303 and IBI-305) by the NMPA

Strategic partnership with Eli Lilly for diabetes

Raised US$304 million via new shares placement

2020


Major Accomplishments since 2020

SIX COLLABORATIOND WITH WORLD-CLASS PATERNERS, INCLUDING LILLY AND ROCHEExpanded Strategic Collaboration with Lilly on Tyvyt®

• Out-licensed the development and commercialization rights of Tyvyt® outside of China to Lilly

• US$200Mn upfront payment, up to US$825Mn potential milestones and double digit royalties of net sales

Strategic Collaboration with Roche

• Collaboration on the discovery and development of bispecific antibodies and multiple cell therapies

• Move ahead to the core drug discovery stage across technology platforms

Collaboration with U.S. MD Anderson Cancer Center

• To study Tyvyt®(sintilimab injection) in rare cancer types

Partnership with Coherus Biosciences

• License out commercial rights of IBI-305 (bevacizumab biosimilar) to Coherus in the U.S. and Canada

Partnership with Alector

• License in first-in-class anti-SIRP-α antibody for oncology treatment in China

ACHIEVEMENTS IN CAPITAL MARKETS AND COMPANY STRUCTURE

Successful Fundraise via New Shares Placements

• Raised approximately US$303 million through a new shares placement in Feb. 2020

• Raised approximately US$360 million through a new shares placement in Jul. 2020

Included into the Hang Seng Composite Index (HSCI) following “B” Marker Removal

• Removed “B” marker from the stock name in Jun. 2020 after market capitalization/revenue test satisfaction

• Included into HSCI with the change taking effective on 7th Sept. 2020

• Potential to be included in the Stock Connect

Expansion and Retention of Talent Team

• Expanded all-rounded talents team from about 2,000 people at the end of 2019 to over 2,600 people at the

end of June 2020

STRONG SALES GROWTH MOMENTUM AND ENLARGED PRODUCT PORTFOLIO

Continued Strong Sales Growth of Tyvyt ®(Sintilimab Injection)

• Achieved RMB920.9 million sales in 1H 2020 with 177.7% yoy growth, despite the pandemic of COVID-19

• Fully leveraged the unique advantage after included in the NRDL from 1 January 2020

Added Second Commercial Product to the Portfolio

• Byvasda® (IBI-305, bevacizumab biosimilar) was approved in June 2020

Commercial Team and Coverage Expansion

• Expended the experienced selling and marketing team to over 1,100 employees at the end of June 2020

• Expanded the coverage to 3,500 hospitals and 900 DTP/pharmacies across 300 cities at the end of June 2020,

from 2,000 hospitals and 500 DTP/pharmacies at the end of 2019

COMMERCIALIZATION

OTHER CORPORATE MILESTONES

ROBUST PIPELINE OF 23 VALUABLE ASSETS with over 50 trials ongoing

Significant Progress of Tyvyt® on big indications (12 registrational trials completed or ongoing)

• sNDA of 1L nsqNSCLC and 1L sqNSCLC accepted by the NMPA;

• Presented key data of 1L nsqNSCLC at WCLC by oral; presented data of four other trials at ASCO;

Newly Entered Registrational Trial of Four Assets

IBI-310(CTLA-4), IBI-375(pemigatinib, FGFR), IBI-376(Parsaclisib, PI3Kδ),IBI-306(PCSK9)

Fast Progressed Prioritized Assets

• IBI-188(CD47): finished Phase1a dosage escalation in U.S., finalizing Phase1a in China;

• IBI-318(PD1/PD-L1): finished Phase1a dosage escalation in China;

• IBI-939(TIGIT): initiated Phase1 in China

GLOBAL COLLABORATIONS

CLINICAL ADVANCEMENT


Agenda

1 COMMERCIALIZATION

Manufacturing Facilities

Global Partnerships

Organization & Fundraise

Financial Review

Outlook

2

3

4

6

5

7

Research & Development


Commercialization Summary of Tyvyt® (Sintilimab Injection) in 1H 2020Strong Revenue Growth Momentum

Key Achievements in 1H 2020 Strong Revenue Growth Momentum

331.6

684.3

920.9

0

100

200

300

400

500

600

700

800

900

1000

1H19 2H19 1H20

Rmb mn

1H20: 177.7% growth over 1H19; 34.6% growth over 2H19

• Revenue of Rmb920.9mn in 1H 2020, representing 177.7% growth year-over-year

• Fully leveraged the unique advantage as the only PD-1 inhibitor in NRDL:

- Expedited the process of entering hospital channels

- Expanded coverage in both major and lower tier cities

- Growing sales and marketing team

- Comprehensive marketing activities to build up

recognition from doctors and patients


Launched Second Commercial Product BYVASDA®(Bevacizumab Biosimilar)

BYVASDA ® (Bevacizumab biosimilar):

• NMPA marketing approval date: Jun 19, 2020

• Indications: advanced non-small cell lung cancer and

metastatic colorectal cancer


• Patient assistant program has benefited 20,000+ patients

allocated in 150 cities and 170 DTP. The program got

successfully closed after one-year-launch after Tyvyt® listed

in the NRDL.

• The poverty-relief program is executed around 14

provinces and has donated 372 vials of Tyvyt®, helping the

much needed patients under poverty-relief program.

• Tyvyt® was featured in CSCO and IASLC Guideline of Lymphoma

and LC areas, and were mentioned in HCC, GI, and so on.

• Cooperation with government office extended oncology

diagnosis and immunotherapy standard and speed up

the penetration of immunotherapy in China.

Accelerated the Penetration of Immunotherapy with Guideline, Co-working with Government Office, and Public-welfare Program

Listed in CSCO and IASLC Guidelines APS benefited 20,000+ patients

NHA IO roadshows in lower-tier market Strengthen company image


Established Broad and Deep Commercial Footprint throughout China

~30Provinces Coverage

~300Cities Coverage

~3,500 Target Hospital

~900 DTP/Pharmacies

~1,000Commercial Team Size


Built a Competitive and Professional Commercial Force

SALES SOUTH CHINA

MEDICALAFFAIRS

KEWIN XU

• East 1

• East 2

• Key Account Management

• South

CINDY ZHU

• Medical Science

• Medical Liaison

• Biomarker

• Medical Information

SALES NORTH CHINA

STRATEGIC PLANNING & ACCESS STRATEGY

DONGSHENG LIU

• North

• Beijing

• Key Account Management

• West

RACHEL DENG

• Commercial & Portfolio Strategy

• Access Strategy

• Pricing Strategy

• Market Research

MARKETING

SFE &OPERATION

SPARKLER MAO

• Medical Marketing

• General Oncology 1

• General Oncology 2

• Patient Education

BECKY MA

• Sales Performance

• Sales Incentive

• Territory Deployment

• Operation

AUTO-IMMUNE BU & CHANNEL MANAGEMENT

LI CHEN

• Auto-Immune Sales & Marketing

• Channel Management

• Bidding & Tendering

• Channel Data Management

COMMERCIAL DEVELOPMENT

JIHUA QIN

• Strategic Hospital Collaboration

• Commercial Project Management

• Overseas Market Commercialization Support

• Commercial Model Exploration

COO

MIN LIUChief Commercial Officer,General Manager ofInnovent Shanghai Branch

• Former member of Roche Global Oncology Franchise Leadership Team

• Former Vice President of one of two Oncology Business Units at Roche Pharma China, leading marketing & sales efforts for products in lung, GI, and hematology cancers


Agenda

1 Commercialization


Global Partnerships


Financial Review

Outlook

2

3

4

6

5

7

RESEARCH & DEVELOPMENT


Robust Pipeline Across Novel Therapeutics

Status

Products Target (s) Therapeutic Area Commercial Rights Pre-clinical IND Phase1 Phase 2 Phase 3 NDA Launched

sintilimab (IBI-308) PD-1 Oncology Worldwide

Bevacizumab (IBI-305) VEGF-A Oncology Worldwide

IBI-303 (adalimumab biosimilar) TNF-alpha Autoimmune Worldwide

IBI-301 (rituximab biosimilar) CD20 Oncology Worldwide

IBI-375 (Pemigatinib) FGFR1/2/3 Oncology Mainland China, HK, Taiwan, Macau

IBI-306 PCSK9 Metabolic Mainland China, HK, Taiwan

IBI-310 CTLA-4 Oncology Worldwide

IBI-376 (Parsaclisib) PI3Kδ Oncology Mainland China, HK, Taiwan, Macau

IBI-377 (Itacitinib) JAK1 Oncology: GVHD Mainland China, HK, Taiwan, Macau

IBI-362 OXM3 Metabolic Mainland China, HK, Taiwan, Macau

IBI-188 CD47 Oncology Worldwide

IBI-318 PD-1/PD-L1 Oncology Mainland China, HK, Macau

IBI-101 OX40 Oncology Worldwide

IBI-302 VEGF/Complement proteins Ophthalmology Worldwide

IBI-110 LAG-3 Oncology Worldwide

IBI-315 PD-1/HER2 Oncology Worldwide

IBI-326 BCMA-CART Oncology Worldwide

IBI-939 TIGIT Oncology Worldwide

IBI-322 PD-L1/CD47 Oncology Worldwide

IBI-112 IL-23 p19 Autoimmune Worldwide

IBI-102 GITR Oncology Worldwide

IBI-319 PD-1/undisclosed target Oncology Mainland China, HK, Macau

IBI-323 LAG-3/PD-L1 Oncology Worldwide

Biologics Small molecules Clinical progress in the U.S.

IND approved: Dec 2016

NDA filed : Jun 2019

IND approved: Jul 2019

IND approved : Jan 2020

NDA approved: Jun 19, 2020

NDA filed: Nov 2018

IND approved: Sep 2017

IND accepted : Aug 2020

IND approved: Feb 2018

IND approved: Jun 2018

IND approved: Feb 2019

IND approved: Aug 2018

NDA approved: Dec 24, 2018

IND approved: Nov 2019



IND approved: Jul 2019

IND approved: Apr 2020

IND approved: Sep 2019

IND approved: Jan 2020

IND approved: Jan 2020

*

**

*

*

*

*

First Patient Dosed in 2020NDA Acceptance *

*

*


Robust R&D Platforms and Oncology Product Candidates

IBI-308 (PD-1)

IBI-301 (CD20)

IBI-305 (VEGF-A)

IBI-310 (CTLA-4)

IBI-102 (GITR)

IBI-188 (CD47)

IBI-101 (OX40)

IBI-110 (LAG-3)

IBI-939 (TIGIT)

IBI-375

(FGFR1/2/3)

IBI-376 (PI3Kδ)

IBI-377 (JAK1)

IBI-318 (PD-1/ PD-L1)

IBI-315（PD-1/HER2）

IBI-322 (PD-L1/ CD47)

IBI-323 (LAG-3/PD-L1)

IBI-319 (PD-1/unspecified)

IBI-326

(fully human BCMA CAR-T)


Symbols: = completed; = completed patient enrollment; = in progress; = to be initiated within next quarter.

STATUS

INDICATION MONO-/COMBO-THERAPY (OTHER COMPONENTS)PHASE 1

PHASE 2 PHASE 3 NDA FILEDNDA

APPROVED1A 1B

China

r/r Classical Hodgkin’s Lymphoma Mono

1L Non-squamous NSCLC Combo (pemetrexed and cisplatin)

1L Squamous NSCLC Combo (gemcitabine and platinum)

2L Squamous NSCLC Mono

1L Hepatocellular Carcinoma Combo (IBI-305 /biosimilar to bavecizumab)

EGFR+ TKI Failure NCSLC (MRCT) Combo (IBI-305 /biosimilar to bavecizumab)

1L Gastric Cancer Combo (capecitabine and oxaliplatin)

1L Gastric Cancer (CPS ≥10) Combo (Ramucizumab)

1L Esophageal Carcinoma (MRCT) Combo (paclixel and cisplatin/5-FU and cisplatin)

2L Classical Hodgkin’s Lymphoma Combo (ICE)

Melanoma (adjuvant) Combo (IBI-310/CTLA-4 mAb )

2L ESCC Mono

r/r NK/T-cell Lymphoma Mono

3L CRC Combo (IBI-310/CTLA-4 mAb )

Refractory Gastrointestinal Cancer Mono

1L Gastric Cancer Combo (capecitabine and oxaliplatin)

2L NSCLC Mono

1L/2L Melanoma Mono

Clinical Development Programs for Sintilimab27 Studies with 12 Registratinal or Pivotal Trials Ongoing or Completed

sNDAs accepted by the NMPA


Symbols: = completed; = completed patient enrollment; = in progress; = to be initiated within next quarter.

STATUS

INDICATION MONO-/COMBO-THERAPY (OTHER COMPONENTS)PHASE 1

PHASE 2 PHASE 3 NDA FILEDNDA

APPROVED1A 1B

China

1L Squamous NSCLC Combo (gemcitabine and cisplatin)

2L Neuroendocrine Tumor Mono

Solid Tumors/colorectal cancer Combo (Fruquintinib)

Solid Tumors/cholangiocarcinoma Combo (Surufatinib)

3L colorectal cancer Combo (Chidamide)

2L Hepatocellular Carcinoma Combo (siRNA)

U.S.

1L Esophageal Carcinoma (MRCT) Combo (paclixel and cisplatin/5-FU and cisplatin)

Solid Tumors Mono

Late Stage Endometrial Carcinoma Mono

Clinical Development Programs for Sintilimab


Key Data of Tyvyt® in 2020

Four Clinical Results at ASCO (2020.06)

Phase 1b study in HCC of Tyvyt® in combination with Byvasda®

Long-term follow-up results in r/r cHL (ORIENT-1)

Two-year follow-up results in NK/T-cell Lymphoma (ORIENT-4)

Phase 2 study in 2L ESCC (ORIENT-2 )

Expected major data release in 2H 2020

Biomarker data of 1L nsqNSCLC at virtual meeting of ESMO;

Phase 3 of 1L sq NSCLC to be announced at virtual meeting of ESMO;

Phase 2 part of the Phase2/3 of 1L HCC (combo with Byvasda®) to be announced at ESMO;

Phase2/3 interim data in 1L HCC (combo with Byvasda®) to be announced at STIC and/or ESMO Asia;

Phase 3 final data of 2L sqNSCLC to be announced at an upcoming conference

1L nsq NSCLC on WCLC (2020.08)

Phase 3 of 1L nsqNSCLC(EGFR and ALK mutation wild)

‒ mPFS of 8.9 months for Tyvyt plus chemotherapy versus mPFS of 5.0 months for chemotherapy. (HR=0.482, P < 0.00001)

‒ No new safety signal

‒ Positive trends in OS

Strong Data Announced in 1L nsqNSCLC; More Upcoming Data for Phase 3 trials in Major Indications


Entered Pivotal Trial for Four More Assets

Status

Pre-clinicalIND

Phase 1Phase 2(pivotal)

Phase 3 NDA LaunchedFiled Accepted

Entered into Pivotal Phase 2 for 2L mCCA in mainland ChinaChina

Joined Incyte’s global Phase 3 for 1L CCA and plan to dose first patient

1H20

2H20E

*Note: 1) We filed NDA in Taiwan for pemigatinib (IBI-375) for 2L mCCA in 1H 2020.

Status

Pre-clinicalIND

Phase 1Phase 2(pivotal)


Initiated Pivotal Phase 2 for r/r FL and MZLChina

1H20

IBI-375(FGFR)

IBI-310(CTLA-4)

IBI-376(PI3K)

Status

Pre-clinicalIND

Phase 1 Phase 2 Phase 3 NDA LaunchedFiled Accepted

China1H20 Initiated Phase 3 in combo with Tyvyt® for adjuvant melanoma

IBI-306(PCSK9)

Status

Pre-clinicalIND

Phase 1Phase 2(Pivotal)


China 2019 Pivotal Phase 2 for HoFH

2019

Mainland China, HK, Taiwan, Macau

Oncology

Oncology

Oncology

Metabolic


Worldwide

Worldwide

Phase 3 for HeFH

Phase 3 for nFH1H20

* Note: 1)HoFH=homozygous familial hypercholesterolemia; HeFH=heterozygous familial hypercholesterolemia; nFH=non-familial hypercholesterolemia

Target/TA Commercial RightsPartner Trial Region


Trial Progress of Other Prioritized Assets

Status

Pre-clinicalIND


Finalizing Phase 1a dosage escalation

China Initiate Pivotal Phase 1b/2 in r/r AML

Initiate Pivotal Phase 1b/3 in MDS

1H20

2H20E

2H20E

U.S.

Status

Pre-clinicalIND


Completed Phase 1a dosage escalation

Initiate Phase 1b in MDS

1H20

2H20E

*Note: In U.S., we will initiate the Phase 1b trial in MDS with plan for a registrational trial thereafter

Data in 2H

Status

Pre-clinicalIND


Initiated Phase 1 studyChina

File IND

1H20

2H20EU.S.

IBI-188(CD47)

IBI-318(PD-1/PD-

L1)

IBI-939(TIGIT)

Status

Pre-clinicalIND


Plan for further development of IBI-318

China 1H20 Finalizing Phase 1a dosage escalation

2H20E

Worldwide

Worldwide


Target/TA Commercial Rights Trial Region


Agenda

1 Commercialization

MANUFACTURING FACILITIES

Global Partnerships


Financial Review

Outlook

2

3

4

6

5

7



State-of-the-art Manufacturing Facilities Designed to, Built to, and Operating at-International Standards

4 x 15,000L

6 x 1,000 L6 x 3,000 L

Total capacity in the future: 84,000 L

M1b Facility

®On 29 December 2018, our manufacturing facilities received cGMP certification from the NMPA for manufacturing TYVYT® (sintilimab)

Facilities were designed to meet FDA, EMA,

PMDA and NMPA standards, and support

the full process from DS to DP. DS, DP and

GMP were successfully audited

Facilities have undergone ordinary course,

comprehensive annual audits to evaluate

compliance with industry cGMP and

quality compliance standards

Manufacturing team has extensive experience

at multi-national bio-pharmaceutical

companies


Agenda

1 Commercialization


GLOBAL PARTNERSHIPS


Financial Review

Outlook

2

3

4

6

5

7



Striving to Be the Partner of Choice

Strategic Partnerships with Renowned Global Partners

Mar 20th, 2015

• Innovent licensed out PD-1 mAb ex-China to Lilly

• Co-development of 3 mAbs in China

• Upfront payment of $56 M, potential milestone payments > US$0.4 B

Oct 12th, 2015

• Innovent licensed out ex-China rights, and received China rights of additional 3 PD-1 bispecific mAbs to / from Lilly

• Potential milestone payments > $1 B

• Lilly returned the PD-1 ex-China rights in late 2017

Dec 17th, 2018

• Innovent licensed in 3 clinical-stage molecules

• Transformed Innovent from only a focus on mAbsto innovative products regardless of molecule size

• Demonstrated Innovent‘s capability to help global partners bring their innovative therapies into China

Aug 22nd, 2019

• Licensing agreement with Lilly to develop & commercialize a Novel Diabetes Medicine in China

• Potential best-in-class clinical stage product

• Innovent’s therapeutic areas extended to diabetes

Other Global Partnerships

Jul, 2013

• Therapeutic antibody discovery platform

Jun, 2016

• Bispecific Antibody platform

Mar, 2017

• Bispecific antibody collaboration

Nov, 2018 & Oct, 2019

• Clinical collaboration

Jan, 2019


Jan, 2020


Aug, 2019


Jan, 2020

• Partnership on IBI-305 (bevacizumab biosimilar)

Mar, 2020

• anti-SIRP-α antibody collaboration

May, 2020

• US PD-1 Development Rare disease exploration

June 9, 2020

• Strategic Collaboration to Discover and develop multiple cellular therapy and bispecific antibody products in a China first, then global partnering model

Aug 22nd, 2020

• Innovent licensed out PD-1 mAb ex-China rights to Lilly

• Potential total payments to Innovent > $1 b. Upfront payment of $200 mn, potential milestone payments ~ $825mn, and double-digit royalties of net sales


Further Enhance R&D Capability by Strategic Collaboration with Roche

Innovent: Will access certain Roche technologies in the discovery and development of specific

2:1 T-cell bispecific antibodies (TCB) as well as its universal CAR-T platform

Roche: Will retain an option right to license each product for ex-China development and

commercialization

Significantly enhance our R&D capability in bispecific antibody and cell therapy areas

Aim to enrich the potential FIC candidates of our portfolio beyond 2025

Extend our cross-company collaboration one step ahead to drug discovery stage

Show the recognition of our drug discovery and R&D capabilities by a global top-tier

pharmaceutical company

Access to Roche’s Bispecific Antibody and Universal CART Technologies

Further Enhance our R&D Capability and Enrich FIC Candidates


Strategic Collaboration Expansion with Lilly on Tyvyt® for Ex-China Market

• Lilly: will receive development and commercialization rights to Tyvyt®

outside of China.

• Innovent: will receive US$200Mn upfront payment, up to US$825Mn

potential milestones and double digit royalties of net sales

Accelerate the introduction of Tyvyt® to the global patients

Opportunity to maximize the commercial value of Tyvyt®

Develop global brand to support future commercial efforts of the Company

Innovent’s first major step in bringing our innovative portfolio to the global market

>US$1Bn Total Deal Value

Maximized Benefits for a Global Tyvyt® Collaboration with Lilly

It is the first time for a China innovative, marketed large molecule medicine out-licensed to a global pharmaceutical company


Accelerating Innovent’s Global Footprint

Jun 2018:

Established U.S. Subsidiary

Aug 2020:

Established EU Subsidiary

2018 2019 2020

2019:

Initiated Phase 1a study of IBI-188 (CD47 antibody) in U.S.

Feb 2020:

Received IND approval from U.S. FDA for global Phase 3 of Tyvyt® for 1L ESCC

May 2020:

Collaborated with University of Texas MD Anderson Cancer Center to co-develop Tyvyt® in rare cancers in U.S.

1H 2020:

Completed Phase 1a study enrolment of IBI-188 (CD47 antibody) in U.S.

Jan 2020:

Licensed out rights of IBI-305 (bevacizumab biosimilar) in U.S. and Canada to Coherus

Jan 2020:

Received IND approval from U.S. FDA for Phase 1 of IBI-322 (PD-L1/CD47 bispecific antibody)

Aug 2020:

Licensed out development and commercialization rights of Tyvyt® outside of China to Eli Lilly

Supported by appropriate global manufacturing capacity plan

Jan-Feb 2020:

Received orphan drug designations for Tyvyt® in TCL and ESCC from US FDA, and PCTL from EMA

2018:

Initiated Phase 1b study of IBI-308 (PD-1) in U.S. for solid tumors and endometrial cancer

Note: TCL= T-cell lymphoma; PCTL=Peripheral T-cell lymphoma; ESCC= Esophageal squamous cell carcinoma.


Keep Exploring Global Opportunities for Our Assets

IBI-308 (Sintilimab, PD-1)

• Received IND approval from US FDA for global Phase 3 for 1L EC in 1H 2020

• Entered collaboration with MD Anderson in rare cancers in U.S.

• Licensed out ex-China rights of Tyvyt® to Lilly

• Completed Phase 1a study enrollment in 1H 2020 in U.S.

• To initiate U.S. Phase 1b in 2H with plan for a registrational development thereafter

• Licensed out rights of IBI-305 in U.S. and Canada to Coherus in January 2020

• On going effort to expand cooperation with other parties

• Received IND approval from US FDA in January 2020

• Plan to initiate Phase 1 study for IBI-322 and dose first patient in the U.S. in 2020.

IBI-188 (CD47)

IBI-305 (Bevacizumab)

IBI-322 (PD-L1/CD47)

• Planning for global development

• Plan to file IND to the U.S. FDA in 2H 2020

IBI-939 (TIGIT)

Established subsidiaries in U.S. and Europe with expansion plan

Plan appropriate manufacturing capability to support the international strategy


Comprehensive Globalization Plan from R&D to Commercial

1

• Robust in-house R&D platform

• Strategic collaboration to further enrich R&D

• Establishing global R&D presence

Innovation focused R&D

3 Gradual approach to build up international commercial capability

• Collaboration with global pharmaceutical partner as the first step

• Expand our local commercial capability gradually in the future

2 Anchor drug candidates with global potential

• Potential FIC or BIC category in global market

• Drugs with meaningful global market potential

• Self develop or co-develop with partners in overseas clinical trial

• Supported by appropriate international manufacturing capacity


Agenda

1 Commercialization


Global Partnerships

ORGANIZATION & FUNDRAISE

Financial Review

Outlook

2

3

4

6

5

7



Expanded All-Rounded Talent Team

General and Administrative Team

Commercialization Team

R&D Team

CMC Team

1,100+ employees

Fully fledged team in sales, medical affairs, strategy planning and operation functions

750+ employees

500+ employees

~200 employees

~2,600employees


Executives with a Proven Track Record of Success

Visionary Founder, Chairman and CEO Supported by Experienced Management Team

Dr. MICHAEL YUFounder, Chairman & CEO

• Inventor of Oncorine®, Co-inventor of Conbercept and Tyvyt®, three innovative biologics in China

• Inventor of 60+ issued patents & patent applications

• Authorship of 50+ SCI scientific articles & book chapters

Over 20 YEARS OF INDUSTRY EXPERIENCE

• 1997 – 2001: Vice President, Calydon, USA

• 2001 – 2005: Principal Scientist, Cell Genesys, USA

• 2005: Vice President of R&D, Applied Genetics, USA

• 2006 – 2010: Director, Founding President, and CEO, Chengdu Kanghong Biotech

• 2011 to date: Founding President and CEO, Innovent Biologics

Dr. QINWEI ZHOU

Chief Operating Officer

RONNIE EDE

Chief Financial Officer

MIN LIU

Chief Commercial Officer

VIVIAN ZHANG

Chief People Officer

• Over 20 years of biotech and

biopharma experience

• Former Vice President at Eli Lilly in

charge of bioanalytical science and

Vice President at ImClone

• Former CFO of Mindray Medical

International Ltd. Responsible for

Finance, Investor Relation, North

America Operations, and Internal

Audits

• Former CFO of Biosensors

International Ltd.

• Former member of Roche Global

Oncology Franchise Leadership Team

• Vice President of one of two Oncology

Business Units at Roche Pharma

China, leading marketing & sales

efforts for products in lung, GI, and

hematology cancers

• In charge of the operations of the

CEO‘s office

• Responsible for Human Resources and

Administration, Government Affairs,

Public Relations as well as Legal


Senior Management Team with a Proven Track Record of Success

Visionary Founder, CEO and Chairman Supported by Experienced Management Team

Dongming WangSVP

Bo YiVP

Amy GuoVP

BlakeSalisburyVP

Lena ZhouVP

Xia QingVP

Kedan LinVP

Quality (QC & QA)

RegulatoryAffairs

International Division

Business Development

Government Affairs

Engineer US branch

Kaisong ZhouVP

Yun KangVP

Jianfeng GaoVP

Hui ZhouVP

Process Development& Analytical Sciences

Manufacturing Quality Assurance

MedicalScience

Stephen Lau

COO

US branch

Junjian LiuVP

Biologics Discovery

Amy QueSVP

Project Management & Strategic Alliances

Wei XuVP

Translational Science


US$304MFollow-On Offering (October 2019)

Continued interests and confidence of global investors

Track record in value delivering

Capability to exceed market expectations

Removed “B” marker and was included in the Hang Seng Composite indexPotential to be included in the Stock Connect

Strong Support from Globally Renowned Investors

US$5MSeries A

US$30MSeries B

US$115MSeries C

US$262MSeries D

US$485MIPO &

Cornerstone

Oct, 2011 June, 2012 Jan, 2015 Nov, 2016 Jan, 2018 Oct, 2018

US$150MSeries E

US$303MFollow-On Offering (February 2020)

Over US$2.1B in aggregate

The largest IPO fund raise at the time for pre-revenue biopharmaceutical company

Over US$967M follow-on offering

The first and only successful 3 round follow-on offering within 18 months since IPO in the Biotech

Board of HKEX

US$360MFollow-On Offering (July 2020)


Innovent

• Hang Seng Composite Index (HSCI)• Hang Seng China (Hong Kong-listed) 100 Index• Hang Seng Healthcare Index• Hang Seng Stock Connect Hong Kong Index• Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index• Hang Seng SCHK Mainland China Healthcare Index• Hang Seng SCHK Mainland China Companies Index• Hang Seng Hong Kong-Listed Biotech Index

Remove “B” marker from stock

name as we meet the criterial

of:

• Market Cap

• Revenue

• Non-financial requirements

• Hang Seng SCHK ex-AH Companies Index• Hang Seng SCHK New Economy Index• Hang Seng Large-Mid Cap Momentum 50 Index• Hang Seng Large-Mid Cap Momentum Tilt Index• Hang Seng Large-Mid Cap Value Tilt Index• Hang Seng Defensive Industries Index• Hang Seng Stock Connect Biotech 50 Index• Hang Seng Stock Connect China 500 Index

2020.06: 2020.08: Future

Remove “B” marker from stock name

Included in HSCI and a series of Hang Seng

indices

Potential to be included in the Stock

Connect

Included in a series of Hang Seng indices:

2019:

Included in MSCI China and Hang Seng Hong Kong-Listed Biotech

Index

Included in Various Indices with Improved Capital Markets Recognition


Agenda

1 Commercialization


Global Partnerships


FINANCIAL REVIEW

Outlook

2

3

4

6

5

7



Income Statement

IFRS Measure

Revenue

Total revenue for the six months ended 30 June 2020 was RMB984 million, including RMB921 million attributable to sales of TYVYT® (sintilimab injection).

Other income primarily consist of RMB61 million interest income and RMB46 million government grants.

Expenses

R&D expenses was RMB808million. We anticipate gradual increase in pace of R&D spending, mainly to cover the completion of multiple pivotal or registration trials of TYVYT ® (sintilimabinjection) and increased trial needs of other promising late-stage assets and prioritized assets.

S&M expenses increased to RMB447 million, attributable to expansion of the sales team and continuous commercialization efforts to explore potential market for our products.

IFRS loss for the period

IFRS loss for the period was RMB 608.2 million.

Six Months Ended 30 June

RMB'million 2020 2019

Revenue from contracts with customers 984.2 345.5

Cost of sales (184.8) (41.0)

Gross profit (IFRS Measure) 799.4 304.6

Other income 107.4 56.0

Research and development expenses (808.0) (670.7)

Administrative and other expenses (186.8) (78.1)

Selling and marketing expenses (446.6) (266.7)

Royalties and other related payments (134.9) (12.9)

Other gains and losses 97.5 (9.8)

Finance costs (32.6) (36.7)

Income tax expense (3.5) -

Loss for the period（IFRS Measure） (608.2) (714.4)


Income Statement

Non-IFRS Measure

Adjustment to IFRS measures mainly consists of share-based compensation expenses for the six months ended 30 June 2020.

Six Months Ended 30 June

RMB'million 2020 2019

Revenue from contracts with customers 984.2 345.5

Cost of sales (168.8) (36.1)

Gross profit（IFRS Measure） 815.4 309.4

Other income 107.4 56.0

Research and development expenses (766.2) (659.9)

Administrative and other expenses (111.9) (56.2)

Selling and marketing expenses (424.7) (257.5)

Royalties and other related payments (134.9) (12.9)

Operating profit（Non-IFRS Measure） (514.9) (621.1)

Other gains and losses 97.5 (9.8)

Finance costs (32.6) (36.7)

Income tax expense (3.5) -

Loss for the period（Non-IFRS Measure） (453.5) (667.6)

Adjustments to IFRS measures (154.7) (46.8)

Loss for the period（IFRS Measure） (608.2) (714.4)


As of

RMB'million 2020.06.30 2019.12.31

Bank balances and cash 4,633.3 4,232.6

Other financial assets-current 1,561.1 462.5

Trade receivables 377.8 247.9

Contract assets 2.3 2.2

Deposits, prepayments and other receivables 120.9 151.6

Inventories 467.1 358.6

Total Current Assets 7,162.5 5,455.4

Property, plant and equipment 1,391.9 1344.8

Right-of-Use assets 82.8 91.5

Intangible assets 35.2 -

Deposits for acquisition of property,plant and equipment 56.4 84.8

Other receivables and tax recoverables 223.5 252.0

Other financial assets 2.0 2.0

Total Non-current Assets 1,791.7 1,775.1

Total Assets 8,954.2 7,230.5

Trade payables (196.1) (84.3)

Other payables and accrued expenses (617.1) (885.0)

Contract liabilities-current (110.2) (41.2)

Borrowings-current (146.0) (17.0)

Lease liabilities (15.5) (15.5)

Total Current Liabilities (1,084.9) (1,043.0)

Contract liabilities (635.6) (582.3)

Government grants (19.8) (16.5)

Borrowings-non-current (793.0) (808.0)

Lease liabilities (16.4) (24.5)

Total Non-current Liabilities (1,464.7) (1,431.4)

Total Liabilities (2,549.6) (2,474.4)

Total Equity (6,404.6) (4,756.1)

Balance Sheet

Cash balance

As of June 30 2020, our total cash increased to RMB6,194 million.

As of July 30 2020, our total cash was approximately US$1.2billion.


Agenda

1 Commercialization


Global Partnerships


Financial Review

OUTLOOK

2

3

4

6

5

7



Key Upcoming Milestones and Catalysts2H 2020 to Early 2021

1

• Continue to generate revenue growth of TYVYT® (Sintilimab injection) by leveraging the advantage of NRDL

• Benefit from launch of BYVASDA®(bevacizumab biosimilar)

COMMERICAL SALES GROWTH

4 MAJOR DATA READOUT• Present result of key clinical trials for TYVYT® in 1L sqNSCLC, 1L HCC and 2L sqNSCLC

• Present the U.S. Phase 1a safety data of IBI-188(CD47) in SITC in Nov 2020

• Present the Phase 1 data for IBI-302(VEGF/complement bispecific) in Nov 2020

• Present the Phase 1 and Phase 2 data of IBI-306 (PCSK9) in Aug 2020

3 MAJOR CLINICAL ADVANCEMENT

• Submit sNDA for TYVYT® in 1L HCC and 2L sqNSCLC

• Initiate pivotal Phase 1b/2 for IBI-188(CD47) in r/r AML and pivotal Phase1b/3 in MDS

• Initiate Phase 1b of IBI-188 (CD47) for MDS in the U.S. with plan of registrational trial thereafter

5 CORPORATE DEVELOPMENT

• Potential to be included in the Stock Connect

• Further expand manufacturing facilities and capabilities to support continuous business expansions

Overseas

• Expected Approval of IBI-303(Adalimumab biosimilar) in 3Q20

• Expected Approval of IBI-301(Rituximab biosimilar) in end 2020 or early 2021

2 PRODUCT LAUNCHES

Overseas


01

2020• 3 commercialized

products

• More products at late stage development

• Increased GMP manufacturing capacity

• Establish Innovent Academy

02

VISION

2030

• More commercialized products, including first-in-class products launched globally

• To be a premier global biopharmaceutical company

Summary: A Long Term Vision

2025

• Expandedcommercialized productsin China

• Multiple products approved in the international market

• Commercial supply from overseas manufacturing site

03


Innovent: A Leading Platform Company

Fully-integrated, Multi-function Platform with World-class Discovery, Development, Manufacturing and Commercialization Capabilities

Discovery

CMC (Manufacturing & Quality) Clinical Development

Commercialization

2020 interim results presentation -...

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