---
title: "Kelun-Biotech Wins China IND Approval for Bispecific Cancer Antibody SKB118"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286173310.md"
description: "Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. has received IND approval from China's National Medical Products Administration for SKB118, a bispecific antibody targeting PD-1 and VEGF for advanced solid tumors. This drug aims to enhance T-cell function and inhibit tumor blood supply. Kelun-Biotech's collaboration with Crescent Biopharma supports its development in Greater China, while a global trial is ongoing in the U.S. Analysts rate the stock (HK:6990) as a Buy with a price target of HK$526. The company focuses on innovative oncology therapies in the biopharmaceutical sector."
datetime: "2026-05-12T23:47:53.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286173310.md)
  - [en](https://longbridge.com/en/news/286173310.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286173310.md)
---

# Kelun-Biotech Wins China IND Approval for Bispecific Cancer Antibody SKB118

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Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H ( (HK:6990) ) has shared an announcement.

Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. has received approval from China’s National Medical Products Administration to begin clinical trials of SKB118, a tetravalent bispecific antibody targeting PD-1 and VEGF for the treatment of advanced solid tumors. The drug, also known as CR-001, is designed to restore T-cell tumor-killing function while inhibiting tumor blood supply and may enhance the effectiveness of combination therapies, including antibody-drug conjugates.

The company’s rights to research, develop, manufacture and commercialize SKB118 in Greater China are secured through a strategic collaboration with Crescent Biopharma, which is already running a global Phase 1/2 trial in the U.S. for up to 290 patients. This regulatory milestone strengthens Kelun-Biotech’s oncology pipeline and positions it to participate in the global development of an emerging immuno-oncology asset, though the company cautions that SKB118 may not ultimately succeed in development or commercialization.

The most recent analyst rating on (HK:6990) stock is a Buy with a HK$526.00 price target. To see the full list of analyst forecasts on Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H stock, see the HK:6990 Stock Forecast page.

**More about Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H**

Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. is a China-based biopharmaceutical company focused on developing innovative oncology therapies. The company targets advanced solid tumors and leverages antibody-based technologies, aiming to build a portfolio of next-generation cancer biologics for the Greater China market and beyond.

**Average Trading Volume:** 519,263

**Technical Sentiment Signal:** Buy

**Current Market Cap:** HK$108B

Learn more about 6990 stock on TipRanks’ Stock Analysis page.

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