Hengrui Pharma (600276.SH) announced that the company has entered into an agreement with Novo Nordisk A/S to license its potential once-weekly oral GLP-1 and GIP dual receptor agonist HRS-1596 to Novo Nordisk on a paid basis.
Under the terms of the agreement, Novo Nordisk will obtain exclusive rights to develop, manufacture, and commercialize HRS-1596 globally outside of Greater China. The total potential transaction value could reach up to US$2.6 billion, including a US$300 million upfront payment and payments upon the achievement of relevant development, regulatory, and commercialization milestones.
In addition, Hengrui will be eligible to receive corresponding sales royalties based on net sales of HRS-1596 in the licensed territories.
HRS-1596 is a GLP-1/GIP dual receptor agonist independently developed by Hengrui. HRS-1596 is designed to achieve weight loss and improve blood sugar control through multiple mechanisms, including suppressing appetite, promoting insulin secretion, and improving insulin sensitivity, and has the potential for treating obesity, type 2 diabetes, and other metabolic diseases.
HRS-1596 is expected to achieve once-weekly oral administration, which compared to existing treatment options can significantly reduce dosing frequency and improve convenience. Hengrui has been approved in China to conduct Phase I clinical trials of HRS-1596 for weight management and type 2 diabetes.
The signing of this agreement will help broaden the overseas market for HRS-1596, provide quality treatment options for patients worldwide, and further enhance the company's innovative brand and overseas performance. The company adheres to both independent research and development and open collaboration, strengthening international cooperation on the basis of organic growth, achieving rapid transformation of research and development results, leveraging internationally leading partners to cover overseas markets, accelerating integration into the global pharmaceutical innovation network, maximizing product value, and enabling the company's innovative products to serve patients globally.