Keymed Biosciences Swings to Profit as Revenue Hits RMB617 Million

The company’s financial health is underpinned by RMB3.24 billion in cash reserves, providing a runway for its aggressive R&D expansion. Kangyueda now serves as the primary revenue driver, supported by a 500-member commercial team that has established a footprint in over 1,600 hospitals. This market penetration is expected to widen further following the drug's inclusion in the National Essential Medicines List, which takes effect in September.

Keymed’s innovation strategy continues to yield high-value partnerships. Following Gilead and Lakefront’s acquisition of Ouro Medicines, Keymed secured an upfront payment of US$257 million related to the CM336 bispecific antibody program, with potential for an additional US$610 million in future milestones. Simultaneously, the firm is advancing its clinical portfolio, notably with CM512, a dual inhibitor for respiratory conditions that recently demonstrated significant efficacy in Phase II trials. With 21,800 liters of production capacity already online and an additional 24,000 liters nearing completion, the company is scaling its manufacturing to support both domestic demand and its ongoing global Phase III studies for gastric cancer treatments.