BEIJING, CHINA - EQS Newswire - 26 March 2026 - InnoCare Pharma (HKEX: 09969; SSE: 688428), a leading biopharmaceutical company focusing on cancer and autoimmune diseases, today announced the annual results for 2025 as of December 13, 2025. 2025 marked InnoCare's 10th anniversary and a milestone year of transformative growth and strategic execution. The Company achieved its first full year profitability, secured two new drug application (NDA) approvals, enhanced market penetration of its core products, accelerated globalization, and made breakthroughs across multiple pipelines. With numerous "China First" achievements, InnoCare continues to accelerate its 2.0 development strategy, demonstrating its strong ability to translate scientific innovations into sustainable long-term growth. Financial Highlights

• Revenue grew 135.3% year-on-year to RMB 2,375 million[1] in 2025, mainly driven by robust commercial growth and two strategic business development (BD) deals.
• Profit reached RMB 644 million, achieving profitability for the first time, mainly due to significant commercialization growth and global out-licensing deals.
• Gross Profit Margin increased by 5.7 percentage points to 92%.
• Research and Development Investment increased by 16.9% to RMB 952 million in 2025, reflecting advancements of multiple Phase III registrational trials, as well as increased investments in new technology platforms such as ADCs and molecular glue.
• Cash and Related Accounts Balance[2] stood at approximately RMB 7.8 billion as of December 31, 2025 and achieved positive operating cash flow for the first time. This strong cash position provides InnoCare with the flexibility to expedite global clinical development of key assets and invest in new technology platforms.

Accelerating Globalization with Transformative Deals In 2025, InnoCare accelerated the implementation of its globalization strategy, unlocking global value of its core pipeline with two out-licensing deals, further enhancing the Company's global influence and financial performance, and marking a significant step forward in its global expansion. On Oct. 8, InnoCare entered into a transformative licensing agreement with Zenas for its autoimmune disease pipeline, including orelabrutinib. The agreement includes up to US$100 million in upfront and near-term milestone payments, and up to 7,000,000 shares of Zenas common stock, with a total deal value exceeding US$ 2 billion, setting a new record for small molecule autoimmune out-licensing in China. This strategic collaboration marks a significant milestone in InnoCare's globalization journey and will leverage shared focus to accelerate the global Phase III clinical development of orelabrutinib for the treatment of primary progressive multiple sclerosis (PPMS) and secondary progressive multiple sclerosis (SPMS), maximizing its clinical and commercial value worldwide, and advance a novel oral IL-17 AA/AF inhibitor and a brain-penetrant oral TYK2 inhibitor into clinical trials. In addition, InnoCare entered into a licensing agreement with Prolium to further its global presence in 2025. In March 2026, Prolium announced first dosing of healthy volunteers in an ongoing single ascending dose study of ICP-B02 (PRO-203) and expects to initiate a multinational Phase I/II study of ICP-B02 in systemic sclerosis (SSc) in the second quarter of 2026, with additional studies in B-cell-driven autoimmune disease expected to follow. Dr. Jasmine Cui, the Co-founder, Chairwoman, and CEO of InnoCare, said, "Building on an inspiring decade of solid growth, we have continuously enhanced our fully integrated platform ranging from original innovation, clinical development, commercialization, manufacturing, to business development, achieving our strategic goal of break-even ahead of schedule, marking a significant milestone in our development history. As we enter our 2.0 phase of rapid development, we are focused on key strategic priorities, including securing approvals for five to six innovative drugs, advancing three to four products globally, and progressing five to ten differentiated molecules into clinical trials. We will further accelerate globalization, significantly increase revenue, and deliver more high-quality innovative therapies to benefit patients worldwide. " Building A Leading Franchise in Hemato-Oncology In 2025, InnoCare made significant progress toward building a leading hemato-oncology franchise, driven by advances in commercial execution, late-stage clinical development, and global expansion. InnoCare continued to strengthen its commercial portfolio with orelabrutinib approved for first line chronic lymphocytic leukemia/small lymphocytic lymphoma (1L CLL/SLL) and successfully included in the updated National Reimbursement Drug List (NRDL), while tafasitamab became the first CD19 antibody approved for the treatment of relapsed or refractory diffuse large B-cell lymphoma (R/R DLBCL) in China. As a result, drug sales increased...