Dear Colleagues,

Today, we celebrate the 32nd anniversary of our Group. Over the past three decades, we’ve worked closely together to navigate shifting industry landscapes. I want to express my sincere gratitude to each of you for your unwavering commitment to our shared vision through every challenge and triumph.

This week, our global innovation pipeline achieved a major clinical milestone. The China Phase 2 clinical trial evaluating LY03015 for the treatment of tardive dyskinesia successfully met its primary endpoint. Moreover, the 20mg dose cohort demonstrated a 76.5% Abnormal Involuntary Movement Scale (AIMS) response rate. These highly encouraging results validate our global R&D capabilities and affirm Luye Pharma’s strategy of developing innovative medications for the international market. Over the years, we’ve marched forward as one team on this journey, laying the foundation for the Group’s long-term sustainable growth.

This milestone for LY03015 reflects our deep expertise in the life sciences industry. Over the past thirty years, we’ve made constant breakthroughs. Luye Pharma successfully developed multiple “world-only” or “first-in-China” products and launched more than ten new drugs across major global markets, including the U.S., Europe, Japan, and China. The strong market adoption of our new product portfolio has become the key driver of commercial performance. Concurrently, other business segments under the Group have also made steady progress. Looking ahead, we are positioned for the next phase of exponential growth by advancing our innovative pipeline across two strategic therapeutic areas: Central Nervous System (CNS) and oncology.

In the CNS area, LY03017 is a next-generation 5-HT2AR inverse agonist and 5-HT2CR antagonist, while LY03020 is the world’s first dual agonist targeting both TAAR1 and 5-HT2CR. Both are currently undergoing Phase 2 clinical trials. In addition, LY03021, a first-in-class GABAAR PAM/NET/DAT inhibitor developed to treat major depressive disorder, is progressing through Phase 1 clinical development. 

In the oncology area, Boan Biotech has built an investigational pipeline of novel therapeutics with first-in-class or best-in-class potential. This includes BA1302, China’s first innovative anti-CD228 ADC under clinical development, BA1203 (an antibody-cytokine fusion protein targeting PD-1 and IL-2, with a unique masking design for the IL-2 moiety), BA2201 (a long-acting bispecific antibody targeting TL1A and IL23 for treating autoimmune diseases), and BA1304 (a bispecific ADC targeting EGFR and B7-H3 with potential for treating multiple types of cancer). These pipeline assets do more than just expand our portfolio; they represent significant steps toward building a comprehensive platform for global innovation. Ultimately, they embody our dedication to addressing unmet clinical needs and advancing the frontiers of science.

Our upgraded commercial operations and established global infrastructure provide the foundation that allows us to pursue ambitious, next-generation R&D initiatives. While our key mature assets continue to generate steady growth, our first wave of newly launched blockbuster therapies is simultaneously scaling rapidly. This ensures a seamless transition of our primary growth drivers across key therapeutic areas: 

CNS: ERZOFRI® (paliperidone palmitate) Extended-Release Injectable Suspension continues its strong commercial momentum in the U.S. market, while Ruoxinlin® (toludevenlafaxine hydrochloride sustained-release tablets) is gaining rapid market share within China’s antidepressant segment.

Oncology: Robust clinical demand is driving rapid sales growth for both Baituowei® (goserelin microspheres for injection) and Zepzelca® (lurbinectedin for injection).

These newly launched assets are making greater contributions to our revenue and profitability every year, positioning the Group for sustainable, high-quality growth.

Amid an accelerating technological shift in the life sciences industry, we’ve launched our next chapter of growth to harness these macro trends. Looking ahead, we will relentlessly innovate and expand our global reach to fulfill our commitments to patients, customers, employees, and shareholders.

On this 32nd anniversary, I wish you all continued success and fulfillment, both professionally and personally. As we have for the past three decades, let’s continue to explore and create value together in our journey to safeguard human health.

Liu Dianbo
Chairman, Board of Directors,Luye Life Sciences Group