Industry
Novo licenses Hengrui’s preclinical obesity drug candidate for up to $2.6 billion
Novo will pay Hengrui $300 million upfront for ex-China rights to HRS-1596, with milestone payments that could bring the deal to $2.6 billion.
Fierce Biotech reported Novo will pay $300 million upfront, with potential milestone payments that could bring the deal’s total value to $2.6 billion.
Hengrui designed the GLP-1/GIP dual receptor agonist for once-weekly oral dosing. Novo said it aims to suppress appetite, stimulate insulin secretion and improve insulin sensitivity, for potential use in obesity, Type 2 diabetes and other metabolic diseases.
Fierce Biotech described HRS-1596 as preclinical and said regulators in China cleared it to enter phase 1 trials. BioPharma Dive reported that the drug has not been tested in humans and was described in a statement as “Phase 1 ready.”
