ADOCIA & Tonghua Dongbao: A $10M Milestone in Diabetes Innovation

The biopharmaceutical industry is abuzz with the recent announcement by Adocia and Tonghua Dongbao, marking a significant milestone in the development of BioChaperone® Lispro, an ultra-rapid insulin. The final dosing of the last patient in a Phase 3 clinical trial has triggered a $10 million payment from Tonghua Dongbao to Adocia, signaling a major step forward in the fight against diabetes.

BioChaperone® Lispro, a novel insulin formulation combining Adocia's proprietary BioChaperone® technology with insulin lispro, has shown promising results in clinical trials. The Phase 3 program, conducted by Tonghua Dongbao, involved over 1,500 people with Type 1 and Type 2 diabetes across 100 clinical centers in China. The primary efficacy endpoint, the change in HbA1c (glycosylated haemoglobin) from baseline to 26 weeks of treatment, demonstrated the safety and efficacy of BioChaperone® Lispro compared to the standard of care, Humalog® (Eli Lilly).

The $10 million milestone payment to Adocia, expected in the second quarter of 2025, adds to the $15 million already received from previous upfront and milestone payments for BioChaperone® Lispro. Upon granting of the Marketing Authorization, Adocia stands to receive an additional $20 million milestone payment, followed by double-digit royalties on future sales. This substantial revenue stream, combined with the strategic partnership with Tonghua Dongbao, a leading insulin provider in Asia, strengthens Adocia's financial position and supports its mission to develop innovative therapeutic solutions for diabetes and obesity.



The successful completion of the Phase 3 trial and the associated payment may boost investor confidence in Adocia's innovative insulin technology and its partnership with Tonghua Dongbao. Positive Phase 3 results could further enhance investor sentiment, as they would validate the product's efficacy and safety, paving the way for regulatory approval and commercialization.

BioChaperone® Lispro's ultra-rapid action profile offers significant clinical advantages, potentially driving market share gains in the global insulin market. With a faster onset and shorter duration, it reduces post-meal hyperglycemia and hypoglycemia risks, enhancing compatibility with modern diabetes management systems. The global insulin market is projected to reach $64.2 billion by 2027, growing at a CAGR of 7.2% (Allied Market Research). Assuming BioChaperone® Lispro captures a 5% market share by 2027, it could generate $3.2 billion in sales, with double-digit royalties on sales to Adocia.

In conclusion, the $10 million milestone payment from Tonghua Dongbao to Adocia marks a significant advancement in the development of BioChaperone® Lispro. This innovative insulin formulation has the potential to revolutionize diabetes management, offering patients a more effective and safer treatment option. As the Phase 3 trial results are expected in H1 2025, investors and the broader market await the next chapter in this promising diabetes innovation story.