Harbour BioMed Reports 2024 Interim Results
Harbour BioMed (HBM), a global biopharmaceutical company based in CAMBRIDGE, Mass., ROTTERDAM, Netherlands, and SUZHOU, China, has reported its interim results for the first six months ending June 30, 2024. The company, which specializes in developing and commercializing novel antibody therapeutics focused on oncology and immunology, has maintained profitability amidst challenging market conditions.
Dr. Jingsong Wang, Founder, Chairman, and CEO of Harbour BioMed, remarked on the company’s resilience and adaptability, emphasizing the effectiveness of their "Two-Engine" strategy driven by Harbour Therapeutics and Nona Biosciences. This strategy is pivotal for their sustainable growth and innovation.
For the first half of 2024, Harbour BioMed reported revenues of $23.7 million and an overall profit of approximately $1.4 million. The company also maintains a robust cash balance exceeding $183 million.
Harbour Therapeutics: A Diverse and Promising Pipeline
Harbour BioMed has developed a diversified pipeline with several potential breakthrough drug candidates targeting immuno-oncology and immunology diseases. Key products in this pipeline include HBM9161, HBM4003, HBM9378, and HBM1020.
HBM9161 (Batoclimab): This fully human anti-FcRn monoclonal antibody holds promise for treating a wide range of autoimmune diseases. Notably, its Biologics License Application (BLA) for treating generalized Myasthenia Gravis (gMG) was accepted by China's National Medical Products Administration (NMPA) in June 2024 following a resubmission with additional long-term safety data. The efficacy and safety of Batoclimab were confirmed by an Open-Label extension clinical trial and published in JAMA Neurology in March 2024. Batoclimab has also received the "Breakthrough Therapy Certificate" from NMPA in 2021.
HBM4003 (Porustobart): This next-generation anti-CTLA-4 antibody is designed to target cytotoxic T-lymphocyte-associated antigen-4 (CTLA-4) and is the first fully human heavy chain-only anti-CTLA-4 antibody to enter clinical development. Porustobart has shown promising Treg cell depletion properties and optimized pharmacokinetics, which enhance safety and efficacy in treating solid tumors. The company has implemented a global development plan for porustobart, including adaptive treatment designs for various solid tumor types.
HBM9378: Developed from the H2L2 Harbour Mice® platform, HBM9378 targets thymic stromal lymphopoietin (TSLP) and shows potential in treating severe asthma and chronic obstructive pulmonary disease (COPD). The drug completed a Phase I clinical trial in October 2023, and Phase II trials are currently ongoing.
HBM1020: This first-in-class antibody targets B7H7/HHLA2, offering a novel approach to treating solid tumors, particularly in patients with low PD-L1 expression. A Phase I clinical trial was initiated in the U.S. in May 2023, with promising developments to be presented at the ESMO Congress 2024.
Nona Biosciences: Driving Innovation and Collaboration
Harbour BioMed’s Nona Biosciences unit supports industry innovators through robust internal discovery capabilities and flexible business models. Nona Biosciences has entered into multiple collaboration agreements to enhance its antibody discovery and development platforms.
In February 2024, Nona Biosciences partnered with Boostimmune to develop antibody-drug conjugates (ADCs) against novel targets. A subsequent agreement with AstraZeneca in May 2024 focuses on creating targeted oncology therapies, promising significant milestone and royalty payments. Additionally, a collaboration with Alaya.bio in July 2024 aims to simplify CAR-T cell therapy development and administration.
Nona Biosciences continues to enhance its technology platforms, including its antibody discovery and engineering capabilities, to address novel and challenging drug targets globally.
Harbour BioMed: A Commitment to Innovation
Harbour BioMed is dedicated to advancing antibody therapeutics through its proprietary Harbour Mice® and HBICE® platforms, enabling the development of next-generation therapeutic antibodies. The company's strategic partnerships and robust internal R&D capabilities underscore its commitment to addressing unmet medical needs in oncology and immunology.
Harbour BioMed continues to build a strong and differentiated portfolio, leveraging collaborations and acquisitions to drive innovation and deliver impactful therapies to patients worldwide.
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