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(“Kelun-Biotech” or the “Company”, SEHK: 6990.HK), an innovative TROP2-ADC (SKB264, MK-2870), a randomized, open, multicenter study to evaluate the efficacy of SKB264 in the first-line treatment of chemotherapy in patients with recurrent or metastatic non-resectable triple-negative breast cancer (TNBC) in advanced stages. SKB264 comparing investigator-selected chemotherapy for the first-line treatment of patients with non-surgically resectable recurrent or metastatic triple-negative breast cancer (TNBC) to a randomized, open, multicenter Phase III registry-based clinical study in patients with advanced-stage, non-systemic-treatment-na?ve PD-L1-negative TNBC (the “OptiTROP Breast03 (“OptiTROP Breast03” or “the Study”) was successfully held in Hefei.

This study a clinical trial evaluating SKB264 comparing investigator-selected chemotherapy first-line for the treatment of patients with non-operable resectable recurrent or metastatic triple-negative breast cancer (Protocol No. SKB264-III-11), with the national lead research center being the Affiliated Cancer Hospital of Fudan University, the lead researcher being Prof. Zhi-Min Shao, and the clinical registry numbers being: CTR20240413, NCT06279364, and is currently being rapidly pushed into the group.

Professor Zhimin Shao, Chairman of the conference, said, “It is a great honor to lead the registrational clinical study of ColumboTech SKB264 in triple negative breast cancer. Currently, TNBC is a hot area of clinical research. We believe that based on the excellent performance of TROP2 ADC SKB264 reported in first-line as well as second-line and above treatment of advanced TNBC in triple-negative breast cancer in the previous phase, SKB264 can achieve better clinical results in the first-line treatment of triple-negative breast cancer in China. We sincerely thank all the experts for their active participation in this trial, and hope that through our joint efforts and professional wisdom, we can make positive contributions to this clinical study, and look forward to SKB264 receiving marketing approval as soon as possible for the benefit of more patients”.

Dr. Ge Junyou shared, “Kelun is the world's largest manufacturer of infusion solutions in terms of production scale, the world's largest manufacturer of antibiotic intermediates in terms of production scale, and a leading head enterprise of pharmaceutical innovation in China. Kelun-Biotech carries the champion gene of the Group and adheres to innovation at source.SKB264 is the first TROP2 ADC-like drug in China to enter Phase III and enter NDA registration.SKB264's NDA filing for TNBC backline treatment has been accepted by the State Drug Administration, and the drug has been recognized as a breakthrough therapy by four organizations, and has initiated a number of clinical studies in different indications in addition to TNBC. The drug has also received four breakthrough therapeutic recognitions. We look forward to working together to rapidly advance the OptiTROP Breast03 study and accelerate the marketing process for this indication, which will benefit more breast cancer patients. Thank you for the great support from all the experts!”

Professor Cao Min from Hunan Cancer Hospital shared his detailed experience in terms of center overview and enrollment, case sharing, screening and enrollment process management, and internal and external multi-party collaboration.

Professor Liang Yan from Jiangsu Provincial People's Hospital shared detailed experience from center enrollment, case sharing, subjects in group management and management of common adverse events.

Professor Fan Lei from Fudan University Cancer Hospital gave a detailed presentation on the program design and implementation details of the project.

Under the chairmanship of Prof. Zhimin Shao and Dr. Xiaoping Jin, Chief Medical Officer of Clonbuterol, all the participating experts had a full and enthusiastic discussion on the study design, enrollment criteria of the study population, and the study process, and reached a consensus.

Professor Wang Zhonghua and Prof. Shao Zhimin from the Affiliated Cancer Hospital of Fudan University summarized the meeting at the end and thanked all the experts who participated in the investigator meeting. The investigators' meeting came to a successful conclusion, officially starting a brand-new journey for the OptiTROP Breast03 study. Clonbuterol has been exploring the advantageous areas of ADC technology in depth, and continues to promote the deepening layout of SKB264 clinical research. SKB264 first-line treatment of non-surgically resectable locally advanced, recurrent or metastatic PD-L1 TNBC has also been recognized by the BTD, and Clonbuterol will efficiently and qualitatively complete the registry study, and make joint efforts with the first-line clinical force to bring more hope and gospel to global tumor patients. Gospel.

About Kelun-Biotech:

Kelun-Biotech（6990.HK）is a holding subsidiary of Kelun Pharmaceutical (002422.SZ), which focuses on the R&D, manufacturing, commercialization and global collaboration of innovative biological drugs and small molecule drugs. The company focuses on major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, and in establishing a globalized drug development and industrialization platform to address the unmet medical needs in China and the rest of world. The Company is committed to becoming a leading global enterprise in the field of innovative drugs.

At present, the Company has more than 30 ongoing innovative projects in major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, including over 10 projects in the clinical stage and 4 projects in the NDA stage with several global trials being conducted simultaneously in multiple countries, including China, Europe, and the United States. The company has established one of the world’s leading proprietary ADC platforms, OptiDC?, and has 5 ADC projects in the clinical stage (2 of which are in the NDA stage) and several projects in the preclinical stage. For more information, please visit https://kelun-biotech.com/.

Micro-world at your fingertips, customized nature :

“In this season of spring blossoming and grass growing, during the “Goddess Month” in March, the company issued holiday gifts and presents to all female employees to send holiday greetings and best wishes, and organized a March March Goddess Month handmade activities.

One bottle, one world, Kelun-Biotech’s micro landscape eco-bottle DIY activity took female employees to put the warmth of greenery into glass bottles, feel the power of plants together, and add a touch of fresh fun to life.

Crystal clear glass bottles, green moss plants, staggered landscape fabrics, fantasy cartoon dolls... In the fun atmosphere, everyone made the bright spring mood into unique limited edition works.

This handcraft activity not only stimulated everyone's curiosity about things in nature and knowledge of ferns and mosses, but also allowed everyone's creative thinking to be displayed in an exclusive space, conveying the concept of living with love for greenery and the environment.

Ancient style lantern DIY, enjoy the thousand years of cultural customs: 

Lantern is one of the typical elements of China's traditional culture and a symbol of good luck. This month, Kelun-Biotech carried out the DIY activity of ancient style lanterns, leading the staff to appreciate the millennium culture and customs.

This activity is a traditional and modern fusion of cultural feast. Staff do-it-yourself, exquisite ancient style lanterns gradually presented in front of everyone, in the staff to exercise the ability to do it at the same time, but also harvested their own holiday exclusive gift, heritage and promote the excellent traditional culture of the Chinese nation, feel the beauty of the holiday and warmth, effectively enrich the cultural life of the staff, set up a platform for interaction, communication, mutual assistance.

About Kelun-Biotech: Kelun-Biotech（6990.HK）is a holding subsidiary of Kelun Pharmaceutical (002422.SZ), which focuses on the R&D, manufacturing, commercialization and global collaboration of innovative biological drugs and small molecule drugs. The company focuses on major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, and in establishing a globalized drug development and industrialization platform to address the unmet medical needs in China and the rest of world. The Company is committed to becoming a leading global enterprise in the field of innovative drugs.

At present, the Company has more than 30 ongoing innovative projects in major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, including over 10 projects in the clinical stage and 4 projects in the NDA stage with several global trials being conducted simultaneously in multiple countries, including China, Europe, and the United States. The company has established one of the world’s leading proprietary ADC platforms, OptiDC?, and has 5 ADC projects in the clinical stage (2 of which are in the NDA stage) and several projects in the preclinical stage. For more information, please visit https://kelun-biotech.com/.

On 8^th March 2024, Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (6990.HK, Kelun-Biotech)’s innovative core product TROP2-ADC SKB264 (also known as MK-2870) was granted Breakthrough Therapy Designation（BTD） by the Center for Drug Evaluation（ CDE） of the National Medical Products Administration (NMPA) of China for first-line treatment of unresectable locally advanced, recurrent or metastatic PD-L1 negative  triple negative breast cancer (TNBC). SKB264 (MK-2870) is jointly developed by Kelun-Biotech and MSD (the tradename of Merck & Co., Inc., Rahway, NJ, USA).

This is the fourth Breakthrough Therapy Designation for SKB264 (MK-2870) granted by the NMPA. Previously, SKB264 (MK-2870) was granted BTD for:

• July 2022, locally advanced or metastatic TNBC.

• January 2023, EGFR-mutant locally advanced or metastatic non-small cell lung cancer (NSCLC) after progression on EGFR tyrosine kinase inhibitor (TKI) therapy.

• June 2023, locally advanced or metastatic hormone receptor-positive (HR+) and human epidermal growth factor receptor 2-negative (HER2-) breast cancer in patients who have previously received at least two lines of systematic chemotherapy.

Breast cancer is one of the most common malignant tumors in women, with its incidence showing an increasing trend year by year. The International Agency for Research on Cancer (IARC) and the World Health Organization (WHO) estimated that in 2020, there were over 2.26 million new cases of breast cancer globally, accounting for 11.7% of all tumors, making it the most prevalent cancer [1]. Triple-negative breast cancer (TNBC) is a clinical subtype that is negative for estrogen receptor (ER), progesterone receptor (PR), and human epidermal growth factor receptor 2 (HER2), comprising 10.0% to 20.8% of all breast cancer types. Triple-negative breast cancer is characterized by high heterogeneity, a high rate of recurrence and metastasis, and a poorer prognosis compared to other types of breast cancer. It lacks effective and specific treatment methods [2]. Currently, the primary treatment for PD-L1 negative TNBC is chemotherapy, which offers limited survival benefits, highlighting the urgent need for new treatment plans. For patients with inoperable locally advanced, recurrent, or metastatic PD-L1 negative triple-negative breast cancer, the first-line standard treatment in China still involves chemotherapy, including single-agent or combination chemotherapy [3]. Compared to single-agent chemotherapy, combination chemotherapy has greater toxicity and offers limited survival benefits.

BTD is designed to expedite the development of new drugs for serious diseases that have shown significant efficacy or safety over existing therapies in preliminary clinical trials. For new drugs included in the Breakthrough Therapy List, CDE will prioritize the allocation of resources for communication, enhanced guidance, and promotion of drug development. If the relevant conditions have been assessed to be met, an application for conditional approval and an application for priority review and approval may also be submitted at the time of the application for drug marketing authorization. This will help accelerate the SKB264 (MK-2870) development process and address the unmet clinical needs of Chinese patients as soon as possible.

参考文献：
[1] Cancer statistics in China and United States, 2022: profiles, trends, and determinants. Chin Med J(Engl).2022 Feb 9; 135(5):584-590.
[2] 三阴性乳腺癌含铂方案临床应用专家共识（2021版）.中华肿瘤防治杂志2021年6月第28卷第12期.
[3] 《中国临床肿瘤学会（CSCO）乳腺癌诊疗指南2023版》.

Our key product A400(EP0031), a small molecule rearranged during transfection (RET) kinase inhibitor program, has been granted Fast Track designation by the United States Food and Drug Administration (FDA) for the treatment of RET fusion-positive non-small cell lung cancer (NSCLC).

A400 (EP0031) is a second-generation selective RET inhibitor (SRI) with broad activity against common RET fusions and mutations.

• In March 2021, the Company granted Ellipses Pharma Limited, a U.K.-based international drug development company, an exclusive, royalty-bearing, sub licensable license to develop, manufacture and commercialize A400 (EP0031) in all countries excluding Greater China, North Korea, South Korea, Singapore, Malaysia and Thailand. 

• In June 2022, the FDA approved an investigational new drug application for A400 (EP0031), and a phase 1/2 trial is ongoing in patients with malignant tumors with RET gene alteration. 

• In November 2023, A400 was granted Orphan Drug Designation by the FDA for the treatment of RET fusion-positive solid tumors.

In preclinical studies, A400 (EP0031) demonstrated favourable inhibitory activity against key RET kinases in-vitro and in-vivo. A400 (EP0031) also demonstrated good penetration of the blood brain barrier in animal models. Data shared at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting on A400 (EP0031) showed promising anti-tumor efficacy in patients with advanced RET+ solid tumors, highlighted by ORR of 80.8% and 69.7% for 1L and 2L+ advanced RET+ NSCLC, respectively, based on results from its ongoing phase 1/2 trial. In both cases, DCR of over 96% were reported.

At present, the Company is conducting A400 (EP0031) pivotal clinical study in China for RET- positive NSCLC.

About Ellipses Pharma Limited

Ellipses Pharma is a global drug development company based in London, focused on accelerating the development of cancer treatments through an innovative drug development model that combines unbiased vetting to de-risk initial asset selection with an uninterrupted funding flow to minimise the time it takes to advance lead products through clinical trials and reach patients.

About Kelun-Biotech

Kelun-Biotech（6990.HK）is a holding subsidiary of Kelun Pharmaceutical (002422.SZ), which focuses on the R&D, manufacturing, commercialization and global collaboration of innovative biological drugs and small molecule drugs. The company focuses on major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, and in establishing a globalized drug development and industrialization platform to address the unmet medical needs in China and the rest of world. The Company is committed to becoming a leading global enterprise in the field of innovative drugs. At present, the Company has 33 ongoing innovative projects in major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, including 14 projects in the clinical stage with several global trials being conducted simultaneously in multiple countries, including China, Europe, and the United States. The company has established one of the world’s leading proprietary ADC platforms, OptiDC, and has four ADC projects in the clinical stage (two of which are in the NDA stage) and several projects in the preclinical stage. For more information, please visit https://kelun-biotech.com/.

pursuant to the Notice of Adjustment of Stock List of Southbound Trading Link of the Shanghai-Hong Kong Stock Connect ( 关于沪港通下港股通目标调整的通知) made by the Shanghai StockExchange on March 1, 2024, the Company will be included in the list of eligible shares of the Southbound Trading Link of the Shanghai-Hong Kong Stock Connect with effect from March 4, 2024.

On February 21, 2024, the prestigious international finance magazine, FinanceAsia, held its 2023 annual achievement awards ceremony in Hong Kong. Kelun-Biotech (6990.HK) was invited to attend the celebration dinner and was awarded the "Best IPO in Asia and Hong Kong for 2023" honor.

FinanceAsia is regarded as one of the most representative professional monthly magazine in Asia's capital market and has significant influence in the investment industry. Founded in 1996, its sponsored "FinanceAsia Achievement Awards" is one of the most influential and credible industry award selections in the Asia-Pacific region, the award ceremony is an significant annual gathering in the investment industry.

About Kelun-Biotech

Kelun-Biotech（6990.HK）is a holding subsidiary of Kelun Pharmaceutical (002422.SZ), which focuses on the R&D, manufacturing, commercialization and global collaboration of innovative biological drugs and small molecule drugs. The company focuses on major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, and in establishing a globalized drug development and industrialization platform to address the unmet medical needs in China and the rest of world. The Company is committed to becoming a leading global enterprise in the field of innovative drugs. At present, the Company has 33 ongoing innovative projects in major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, including 14 projects in the clinical stage with several global trials being conducted simultaneously in multiple countries, including China, Europe, and the United States. The company has established one of the world’s leading proprietary ADC platforms, OptiDC, and has four ADC projects in the clinical stage (two of which are in the NDA stage) and several projects in the preclinical stage. For more information, please visit https://kelun-biotech.com/.

Clinical trials in non-small cell lung cancer (NSCLC) and endometrial cancer (EC) conducted by Kelun-Biotech and Merck Sharp & Dohme for the core product of the collaboration, SKB264 (MK-2870), have triggered relevant clinical milestone payments totaling $75.0 million. The Company has received a portion of the payment from Merck Sharp & Dohme and expects to receive the balance in the near future.

Collaboration Update:

In May 2022, Kelun-Biotech granted Merck Sharp & Dohme exclusive rights to develop, manufacture and commercialize SKB264 (MK-2870) in all territories outside of Greater China.

Merck Sharp & Dohme announced that it has initiated three pivotal Phase 3 clinical trials evaluating SKB264 (MK-2870) as a monotherapy for the treatment of previously treated advanced or metastatic non-small cell lung cancer (NSCLC) with epidermal growth factor receptor (EGFR) mutations or other genomic alterations, as a monotherapy for the treatment of endometrial cancer (EC) previously treated with platinum-containing chemotherapy and immunotherapy, and with pabopoetin. ), and in combination with pembrolizumab for metastatic NSCLC with programmed death ligand 1 (PD-L1) expression greater than or equal to 50%.

Based on written confirmation from Merck Sharp & Dohme, clinical trials in NSCLC and EC have triggered related clinical milestone payments totaling $75.0 million. The Company has received a portion of the payment from Merck Sharp & Dohme and expects to receive the balance in the near future.

About SKB264 (MK-2870, trade name: Jatelle)

SKB264 is a representative and innovative ADC targeting TROP2 developed by OptiDC, the internationally renowned ADC development platform of Kelun-Biotech. SKB264 consists of a humanized anti-TROP2 monoclonal antibody with high affinity and targeting properties, which is conjugated to the toxin small molecule T030 (topoisomerase I inhibitor) through the stability-optimized CL2A linker. T030 (topoisomerase I inhibitor) with an average drug-antibody ratio (DAR) of 7.4. The stability of SKB264 is enhanced in two ways, allowing more ADCs to reach tumor cells. On the one hand, the antibody end of the linker uses a methylsulfonylpyrimidine linker that irreversibly couples to the antibody, and on the other hand, T030 contains a methylsulfone structure that binds stably to the toxin end of the linker.SKB264's linker combines both extracellular pH-sensitive cleavage of the tumor cell and intracellular enzymatic cleavage of the tumor cell, which allows for the highly efficient release of the toxin's small molecules and the exertion of an antitumor effect.The activity of T030 is comparable to that of DXd and has a bystander effect. In summary, SKB264 has a triple antitumor effect: first, the pH-sensitive linker can be cleaved to release T030 in the acidic tumor microenvironment; second, SKB264 can be endocytosed into the tumor cell and then cleaved to release T030 by zymotics; finally, T030 can transcend the cell membrane to exert the bystander effect to kill the surrounding tumor cells. Finally, T030 can pass through the cell membrane and exert a “bystander effect” to kill the surrounding tumor cells. Good stability, high affinity antibody, high DAR value, high active toxin, triple anti-tumor effects become the cornerstone of SKB264's potent anti-tumor effect, which has also been initially confirmed in clinical studies.

About Kelun-Biotech:

Kelun-Biotech（6990.HK）is a holding subsidiary of Kelun Pharmaceutical (002422.SZ), which focuses on the R&D, manufacturing, commercialization and global collaboration of innovative biological drugs and small molecule drugs. The company focuses on major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, and in establishing a globalized drug development and industrialization platform to address the unmet medical needs in China and the rest of world. The Company is committed to becoming a leading global enterprise in the field of innovative drugs. At present, the Company has more than 30 ongoing innovative projects in major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, including over 10 projects in the clinical stage and 4 projects in the NDA stage with several global trials being conducted simultaneously in multiple countries, including China, Europe, and the United States. The company has established one of the world’s leading proprietary ADC platforms, OptiDC?, and has 5 ADC projects in the clinical stage (2 of which are in the NDA stage) and several projects in the preclinical stage. For more information, please visit https://kelun-biotech.com/.