Jiangsu Hengrui Pharmaceuticals (01276) licenses exclusive overseas rights to HRS-1596 to Novo, with a potential transaction value of up to US$2.6 billion.

Jiangsu Hengrui Pharmaceuticals (01276) announced that the company has entered into an agreement with Novo Nordisk A/S (hereinafter referred to as "Novo") to license Hengrui's potential once-weekly oral glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) dual receptor agonist HRS-1596 (hereinafter referred to as "HRS-1596") to Novo for consideration. Novo will obtain exclusive rights to develop, manufacture, and commercialize HRS-1596 worldwide outside the Greater China region. The potential total transaction value of the deal is 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 the net sales of HRS-1596 in the licensed territory. It is reported that 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 glucose control through multiple mechanisms, including suppressing appetite, promoting insulin secretion, and improving insulin sensitivity, and has the potential for use in obesity, type 2 diabetes, and other metabolic diseases. HRS-1596 is expected to enable once-weekly oral administration, which, compared with existing treatment options, can significantly reduce dosing frequency and improve convenience of use. Hengrui has been approved in China to conduct Phase I clinical trials of HRS-1596 for weight management and type 2 diabetes. Novo Nordisk A/S is a leading global biopharmaceutical company headquartered in Copenhagen, the capital of Denmark, and is listed on Nasdaq Copenhagen (ticker: NOVO-B) and the New York Stock Exchange (ticker: NVO). Novo has approximately 67,000 employees in 80 countries and regions worldwide and provides products and services to more than 170 countries and regions globally.