HanchorBio-KY, a biotech company listed on the OTC market, held an investor conference on the 22nd, during which Chairman Liu Shigao shared the latest clinical progress and future outlook for its investigational anti-cancer biologic HCB101. Liu expressed optimism that HCB101 will complete overseas market licensing between Q4 this year and Q3 next year, with a projected valuation of US$1.8 billion to $2.5 billion by year-end. The company aims for a successful listing on the stock market in Q1 of next year.
In late June, HanchorBio announced a US$202 million (approximately NT$5.9 billion) licensing deal with Shanghai Fosun Hansoh Biopharmaceutical, entitling the company to a 6–12% sales royalty after the drug’s launch.
Liu explained that HCB101 is a highly specific third-and-a-half generation SIRPα/CD47 fusion protein drug, which effectively identifies and eliminates tumor cells without affecting red blood cells, making it safer than Gilead’s first-generation monoclonal antibody.
At the conference, HanchorBio revealed for the first time a triple combination therapy involving HCB101, a VEGFR2 monoclonal antibody, and the chemotherapy drug paclitaxel, designed to establish a triple immune attack pathway. Liu noted that the dual IgG1 antibodies enhance ADCC and CDC mechanisms, induce M1 macrophage phagocytosis (ADCP), and block the immune “don’t eat me” CD47–SIRPα signaling pathway.
Moreover, preliminary efficacy data of this triple combination as second-line treatment for gastric cancer showed comprehensive shrinkage of metastatic lesions observed via imaging within just six weeks. Liu stated that this drug has the potential to become the next broadly effective PD-1 therapy. Multiple pharmaceutical companies from the U.S. and Japan are already in licensing discussions, with deals expected to be finalized within a year.
Liu projected the global first- and second-line gastric cancer drug market to reach approximately US$4 billion by 2037. HanchorBio plans to rapidly obtain clinical trial data on objective response rate (ORR), progression-free survival (PFS), and overall survival (OS) from Phase 2 gastric cancer studies to license HCB101 to major international pharmaceutical companies based on these efficacy results.
The conference also revealed data supporting HCB101’s potential in first-line treatment of head and neck cancer. Liu noted that while current immunotherapies have approvals for multiple cancer types, PD-1 antibodies remain the only option for head and neck cancer. Preclinical data for HCB101 demonstrated promising efficacy as both monotherapy and in combination. Once successfully combined with two standard therapies (Keytruda and Erbitux), HCB101 is expected to significantly extend patient survival.
Liu emphasized that HanchorBio aims to complete licensing negotiations between Q4 this year and Q3 next year. Referencing Pfizer’s US$2.26 billion acquisition of the second-generation PD-1 drug TTI-662 and Gilead’s US$4.9 billion acquisition of the first-generation product Magrolimab, HCB101’s valuation by the end of 2025 could reach US$1.8 to 2.5 billion, compared to the company’s current market value of under US$300 million.
Resource: 漢康生技抗癌新藥HCB101最快今年Q4完成國際授權 明年首季上市櫃
