ROCKVILLE, Md. and SUZHOU, China, Nov. 30, 2023 /PRNewswire/ — Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of oncology, metabolic, autoimmune, ophthalmology and other major diseases, announces that the Company has been upgraded to ‘A’ according to Morgan Stanley Capital International’s (MSCI) latest ESG rating, ranking at the forefront of the biotechnology industry.
The MSCI ESG rating is one of the ESG indicators widely recognized by the global capital market. The rating results provide an important angle for global institutional investors to support more informed investment decisions.
According to MSCI’s latest ESG rating report, Innovent’s performance in ESG and sustainable development stood out above the industry average level. The rating upgradation to level ‘A’ reflects the capital market’s recognition of Innovent’s continued progress in ESG governance and sustainability, as well as of its long-term investment value.
Holding the mission "to develop and commercialize high-quality biopharmaceuticals that are affordable to ordinary people", Innovent makes unremitting efforts to integrate ESG philosophies into our corporate management. Having the Company’s development objectives aligned with the sustainable development goals (SDGs) of the United Nations, we keep improving ESG management in the aspects of "Excellent Governance", "Enjoying Good Health", "High Quality as Key", "People First" and "Green Ecology".
Excellent Governance
Innovent has always been operating with integrity and believes that robust corporate governance, coupled with full compliance and efficient management, are conducive to sustainable growth and financial resilience of the Company, and can create long-term value for the society and the company. The ESG governance of Innovent is directly managed at the Board of Directors level and supervised by the Audit Committee. MSCI’s rating improvement further validated the company’s efforts have put into this area.
The Company has built a sound business ethics management system and a compliance management committee, formulated a whistleblower protection policy as well as a regular anti-corruption audit mechanism. We devote constant efforts to improve our corporate governance in all aspects, including rigorous compliance to business ethics standards, efficient business operations and management, and strengthened risk management and control. We are committed to creating a transparent and healthy business ecosystem and fostering collaborations and development among all stakeholders.
Enjoy Good Health
Adhering to the strategy of "driven by innovation, developed through globalization", Innovent has been heavily investing in R&D, expanding product pipeline and bringing innovative therapies to address unmet clinical needs and improve the quality of patients’ life. Leveraging the Company’s fully-integrated multi-functional platform, we have built a robust product pipeline consisting of 36 valuable assets in the fields of oncology, autoimmune, cardiovascular and metabolism, and ophthalmology diseases. 10 products are approved in China, and 1 approved in Indonesia (Bevagen®, as the first Chinese antibody drug commercialized and locally produced in Southeast Asia).
We have built an efficient commercialization platform and a healthy business model, with a sales team of ~3,000 professionals. We make endeavors to promote equality and inclusiveness, and to enhance the accessibility and affordability of high-quality innovative drugs for patients. Over 2,000,000 patients have benefited from our marketed products so far.
At Present, we have 5 medicines (TYVYT®, BYVASDA®, HALPRYZA®, SULINNO® and olverembatinib) included in the China’s National Reimbursement Drug List (NRDL), and 5 medicines (Pemazyre®, Cyramza®, Retsevmo® and Fucaso®) included in Huimin Insurance Programs, significantly reducing the burden of patients and their families.
Meanwhile, we have initiated and sponsored several public welfare and patient assistance programs. The total value of medications Innovent donated through those programs was worth RMB3.4 billion and more than 170,000 patients benefited. Of which, " TYVYT® Shu Xin Ke Yi Patient Rescue Program" is the largest donation project in the field of oncology in China. The program has significantly improved the accessibility and affordability of PD-1 immunotherapy for those low-income patients living in under-developed cities and counties, and has made notable contribution to the goal of Poverty Alleviation in China.
In addition, Innovent is deeply involved in and actively advancing cross-region capability development in the medical industry. In 2022, Innovent collaborated with the National Health Commission Capacity Building and Continuing Education Center to launch the "Xinhuo China" Immuno-Oncology Standardized Diagnosis and Treatment Enhancement Training Program. The Program has trained nearly 1,000 medical practitioners in 100 cities nationwide and has effectively improved the standardization of oncology medication in county hospitals. We hope to foster an open, healthy and cooperative ecosystem for innovation and sustainable development of the healthcare communities.
High Quality as Key
High product quality is the foundation to fulfill our mission. Our state-of-art manufacturing facilities are built with and operated at international GMP standards. Our established large-scale manufacturing capability and an end-to-end quality management system cover the full product life cycle from R&D to commercialization. We successfully passed more than 40 quality audits conducted by the NMPA, FDA and EMA as well as by our global and regional partners. In 2022, we produced drug substance (DS) batches at 100% success rate.
We are continuously improving our production process and operational efficiencies to provide patients with safer, more accessible, and high-quality products. We aim to build a sustainable supply chain, enhance quality service, and perform responsible marketing practices to better protect the rights and interest of the patients.
People First
Talents are our core assets and a key competitive advantage that drive the company’s sustainable development. We attach great importance to create a safe, diverse, inclusive and empowering working environment, and provide all employees with various promotion channels and training opportunities. We also implement a comprehensive remuneration and welfare system, as well as employee care initiatives to help to attract, retain and empower our talents.
In 2022, among Innovent Biologics, over 50% positions were taken by female employees, more than 40% vacant management positions were filled through internal promotion, over 90% of key talents were retained, more than 500 graduates were recruited and special training programs were established for graduates, and all employees received training programs. With those accomplishments, we won ‘LinkedIn Global Best Employer Brand’ and entered into ‘Universum China’s Most Attractive Employers List’. We hope that Innovent can serve as a workplace for employees to learn and grow, and to fulfill dreams and pursue personal growth.
Green Ecology
Embedded a mindset of sustainable development, we take effective measures to save natural resources and minimize the environmental impact. We own a robust environmental management system, and promote environmental and resource protection in daily basis across our business operation and across our product life cycles. Also, we proactively explore approaches to reduce water and energy consumption, promote low-carbon development, create a circular economy and ultimately to achieve green and sustainable development.
Innovent has established clear and measurable environmental management objectives regarding water and energy savings, emission and waste reductions. In 2022, we saved about 30,000 tons of water, achieved year-over-year 51% energy consumption reduction per unit of product, and received ISO 14001 environmental management system certification for all manufacturing sites in operation.
Innovent has published its fifth ESG report (2022) since its listing on the Hong Kong Stock Exchange in 2018. We will continue to actively implement the strategy of sustainable development, work together with all stakeholders to strive for the great cause of "saving lives and improving life quality of human being".
About Innovent
Inspired by the spirit of "Start with Integrity, Succeed through Action," Innovent’s mission is to discover and develop, manufacture and commercialize high-quality biopharmaceutical products that are affordable to ordinary people. Established in 2011, Innovent is committed to discovering and developing, manufacturing and commercializing high-quality innovative medicines for the treatment of oncology, autoimmune, cardiovascular and metabolic, and ophthalmology diseases to enhance the quality of the patients’ lives. Innovent has 10 products in the market, including TYVYT® (Sintilimab Injection), BYVASDA® (Bevacizumab Injection), SULINNO® (Adalimumab Injection), HALPRYZA® (Rituximab Injection), Pemazyre® (Pemigatinib Oral Inhibitor), olverembatinib, Cyramza® (Ramucirumab Injection), Retsevmo® (Selpercatinib Capsules), FUCASO® (Equecabtagene Autoleucel Injection) and SINTBILO® (Tafolecimab Injection). Additionally, we have 2 NDA under NMPA review, 5 assets in Phase III or pivotal clinical trials, and 19 more molecules in early clinical stage.
Innovent has also entered into 30 strategic collaborations with Eli Lilly, Roche, Sanofi, Adimab, Incyte, MD Anderson Cancer Center and other international partners. We strive to work with many collaborators to help advance the biopharmaceutical industry, improve drug availability and enhance the quality of the patients’ lives.
Note:TYVYT® (sintilimab injection) is not an approved product in the United States.BYVASDA® (bevacizumab biosimilar injection), SULINNO®, and HALPRYZA® (rituximab biosimilar injection) are not approved products in the United States.TYVYT® (sintilimab injection, Innovent)BYVASDA® (bevacizumab biosimilar injection, Innovent)HALPRYZA® (rituximab biosimilar injection, Innovent)SULINNO® (adalimumab biosimilar injection, Innovent)Pemazyre® (pemigatinib oral inhibitor, Incyte Corporation). Pemazyre® was discovered by Incyte Corporation and licensed to Innovent for development and commercialization in Mainland China, Hong Kong, Macau and Taiwan.CYRAMZA® (ramucirumab, Eli Lilly). Cyramza® was discovered by Eli Lilly and licensed to Innovent for commercialization in Mainland China.Retsevmo® (selpercatinib, Eli Lilly). Retsevmo® was discovered by Eli Lilly and licensed to Innovent for commercialization in Mainland China.
Disclaimer: Innovent does not recommend any off-label usage.
Forward-looking statement
This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Innovent Biologics ("Innovent"), are intended to identify certain of such forward-looking statements. The Company does not intend to update these forward-looking statements regularly.
These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of the Company with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond the Company’s control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, the Company’s competitive environment and political, economic, legal and social conditions.
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