Nanjing Leads Biolabs Co., Ltd. (9887.HK) is a clinical-stage biotechnology company engaged in the discovery, development, and commercialization of novel antibody drugs targeting oncology, autoimmune diseases, and other severe conditions; its core pipeline includes Opamtistomig (LBL-024), a PD-L1/4-1BB bispecific antibody for extra-pulmonary neuroendocrine carcinoma (EP-NEC), small cell lung cancer (SCLC), biliary tract carcinoma (BTC), non-small-cell lung cancer (NSCLC), esophageal squamous cell carcinoma (ESCC), hepatocellular carcinoma (HCC), and gastric cancer (GC); LBL-034, a GPRC5D/CD3 bispecific T-cell engager for multiple myeloma; LBL-033 and LBL-007, additional bispecific antibodies; LBL-051, a CD19/BCMA/CD3 tri-specific T-cell engager for autoimmune indications; and other preclinical candidates leveraging proprietary platforms such as LeadsBody (CD3 T-cell engager), X-body (4-1BB engager), and TOPiKinetics-ADC for antibody-drug conjugates. The company operates primarily in China with global development ambitions and maintains research facilities in Nanjing. Founded in 2012 and headquartered at Building 03, Floor 8, No. 18 East Jialingjiang Street, Nanjing, Jiangsu Province, China, Nanjing Leads Biolabs listed on the Main Board of The Stock Exchange of Hong Kong Limited in July 2025, raising approximately USD 189 million through its initial public offering to fund clinical trials and R&D; in November 2024, it formed Oblenio Bio, Inc. with Aditum Bio, granting an exclusive worldwide license option for LBL-051 and securing up to USD 35 million in upfront and near-term payments plus USD 579 million in milestones and royalties along with an equity stake; in October 2025, it entered a collaboration with Dianthus Therapeutics worth up to USD 1 billion for ex-China rights to an undisclosed autoimmune asset, including USD 30 million upfront and near-term milestones; recent clinical advancements feature LBL-024 receiving FDA Orphan Drug Designation in November 2024 for neuroendocrine carcinoma, Phase Ib/II data presentations at ASCO 2025 and ASH 2024 for LBL-034, and LAG-3 antibody LBL-007 results published in the Journal of Hematology & Oncology in February 2025.