Hengrui Medicine gets green light for clinical trials

Jiangsu Hengrui Medicine (SSE: 600276) announced that its subsidiary, Suzhou Shengdiya Biopharmaceutical Co., Ltd., has obtained approval from China's National Medical Products Administration (NMPA) to conduct clinical trials for its Funaki monoclonal antibody injection. The drug is intended for treating radiographic axial spondyloarthritis. This follows the drug's earlier approval in China in August 2024 for treating moderate to severe plaque psoriasis in adults. Funaki monoclonal antibody injection is a recombinant humanized monoclonal antibody targeting human IL-17A, independently developed by the company, for treatment of autoimmune diseases. Other IL-17A antibody drugs, including Secukinumab and Ixekizumab, recorded approximately $77.40 billion in global sales in 2023, according to EvaluatePharma database. The company has invested approximately RMB 488.78 million in research and development related to Funaki monoclonal antibody injection. Hengrui Medicine cautions that the drug still requires clinical trials and regulatory approval before commercialization.