Jiangsu Hengrui Pharmaceuticals (01276) and Novo Nordisk Enter into an Exclusive Licensing Agreement for HRS-1596, a Once-Weekly Oral GLP-1/GIP Dual Receptor Agonist

On September 29, Jiangsu Hengrui Pharmaceuticals (600276.SH; 01276) announced that it has entered into a licensing agreement with Novo Nordisk (hereinafter referred to as "Novo") for HRS-1596. HRS-1596 is a glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) dual receptor agonist that is ready for Phase I clinical trials, with the potential to achieve once-weekly oral administration. Under the terms of the agreement, Novo will obtain exclusive rights to develop, manufacture, and commercialize HRS-1596 worldwide outside of mainland China, the Hong Kong Special Administrative Region, the Macao Special Administrative Region, and the Taiwan region. The total potential 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, Jiangsu Hengrui Pharmaceuticals will be eligible to receive corresponding sales royalties based on the net sales of HRS-1596 in the licensed territories. "Hengrui is committed to continuous innovation to bring better treatment options to patients. HRS-1596 has the potential to achieve once-weekly oral administration, making medication more convenient for patients, and represents the company's continued innovation in the field of metabolic diseases," said Dr. Jiang Ningjun, Executive Vice President and Chief Strategy Officer of Jiangsu Hengrui Pharmaceuticals. "This collaboration will fully leverage Hengrui's innovation strengths and Novo's global advantages in GLP-1 therapies and obesity treatment, working together to bring this innovative therapy to patients worldwide." "Novo is a pioneer in the field of oral peptides. As a leader in this field, we rely on strong in-house research and leading external innovation to continuously expand and deepen our oral drug pipeline covering obesity, diabetes, and other cardiometabolic diseases," said Dr. Martin Holst Lange, Executive Vice President of Development and Chief Scientific Officer at Novo. "Jiangsu Hengrui Pharmaceuticals adheres to a patient-centered approach and has outstanding capabilities in the discovery and development of innovative therapies. We look forward to incorporating HRS-1596 into Novo's continuously expanding pipeline, exploring its potential, and raising the standard for treatment convenience in this field." HRS-1596 is designed to achieve weight loss and improve glycemic control through multiple mechanisms, including suppressing appetite, promoting insulin secretion, and improving insulin sensitivity, with potential for use in obesity, type 2 diabetes, and other metabolic diseases. HRS-1596 has the potential to achieve once-weekly oral administration, which compared with existing treatment options can significantly reduce dosing frequency and improve convenience. Jiangsu Hengrui Pharmaceuticals has been approved in China to conduct Phase I clinical trials of HRS-1596 for weight management and type 2 diabetes. The licensing agreement is subject to approval by relevant regulatory authorities under the U.S. Hart-Scott-Rodino Antitrust Improvements Act and the satisfaction of other customary closing conditions. The transaction is expected to close in the fourth quarter of 2026.