Qilu Pharma Secures Exclusive China Rights to Shengshi Pharma's Dual-Target Anti-Obesity Drug RAY1225 in $1.4B Deal

In this collaboration, raynovent will retain all rights, ownership, and interests in the intellectual property license for the RAY1225 injection.After the drug receives regulatory approval for marketing, it will act as the Marketing Authorization Holder (MAH). Meanwhile, Raynovent will continue to exclusively hold all rights to RAY1225 Injection in overseas markets, including the entire chain of operations such as clinical development, manufacturing, new drug registration, sales, and marketing.

Qilu Pharmaceutical will rely on its industry-leading production capacity and commercialization system to be responsible for the production and market promotion of RAY1225 injection in China.In addition, Raynovent will continue to advance the core tasks of clinical development and registration applications for the relevant indications of this drug in the cooperation region, ensuring efficient integration between the R&D and commercialization stages.

According to the agreement, under the premise of meeting the requirements of relevant terms,Raynovent will receive an upfront payment and milestone payments totaling RMB 1 billion:The upfront payment is RMB 200 million, with development and sales milestone payments reaching up to RMB 800 million. Upon the official market launch of the drug, Raynovent will also be entitled to receive double-digit percentage royalties based on the net sales of RAY1225 injection, enabling long-term profit sharing.

RAY1225 Injection is an innovative peptide drug with a novel structure and global intellectual property rights independently developed by raynovent. Its core advantage lies in its dual agonist activity on GLP-1 and GIP receptors. With excellent pharmacokinetic properties, this drug has the potential for ultra-long-acting dosing once every two weeks, which can significantly improve patient medication adherence compared to traditional formulations, offering a more convenient treatment option for metabolic diseases.

Currently, the three pivotal Phase III clinical trials of RAY1225 injection have all completed participant enrollment, and the research and development process is proceeding steadily.

REBUILDING-2 Study:To evaluate the safety and efficacy of drugs for obese/overweight patients in China;

SHINING-3 Study:Efficacy and Safety of RAY1225 Injection in Combination with Oral Hypoglycemic Agents Compared to Semaglutide Injection for Type 2 Diabetes Patients;

SHINING-2 Study:To verify the safety and efficacy of RAY1225 injection as a monotherapy for type 2 diabetes patients, using placebo as a control.

Raynovent will advance subsequent clinical trials with a scientific and standardized approach, ensuring the authenticity and reliability of the data, and laying a solid foundation for the drug's market entry.

Raynovent is a holding subsidiary of Guangdong Zhongsheng Pharmaceutical Co., Ltd., a listed company on the A-share market.Focus on the research and development and commercialization of innovative drugs in the fields of respiratory and metabolic diseases.Raynovent, based on a profound understanding of disease pathophysiology, focuses on major diseases and public health issues such as influenza, COVID-19, idiopathic pulmonary fibrosis, non-alcoholic steatohepatitis, type 2 diabetes, and weight management, establishing a rich pipeline of globally first-in-class or best-in-class drug research and development.

Among them, the world's first oral peptidomimetic monotherapy 3CL protease inhibitor, Ravidasvir Tablets (Leritrel®), was industrialized in 2023. It does not require co-administration with Ritonavir and demonstrates significant clinical advantages; the world’s first influenza virus RNA polymerase PB2 inhibitor, Aladavir Tablets (Anviwe®), was approved for marketing in May 2025, providing a "Chinese solution" for global influenza prevention and control; ZSP1601, the first innovative drug in China approved for clinical treatment of MASH, is currently undergoing Phase IIb clinical trials, forming a diversified and synergistic R&D landscape.

Qilu Pharmaceutical is a large pharmaceutical industry group with a sense of national pride, innovation genes, and an international perspective, ranking third on the 2024 China Pharmaceutical Industry Top 100 list. Qilu Pharmaceutical has established 11 major production bases, covering a total area of 9,160 mu, with a workforce of more than 36,000 employees.More than 320 products have been cumulatively launched, of which 79 are the first or exclusive products launched in China.Products are exported to more than 100 countries and regions worldwide, benefiting approximately 1.5 billion patients annually.

In the research and development field, Qilu Pharmaceutical has established six major R&D platforms linked between China and the U.S., building a product pipeline with global influence.Currently, there are nearly 300 branded generic drugs, more than 20 biosimilars under development, and over 80 innovative drugs in various clinical stages.With extensive market coverage across all business formats, professional promotion capabilities, and an in-depth sales network layout, Qilu Pharmaceutical has significant competitive advantages in the pharmaceutical commercialization field, providing strong support for the market launch of cooperative products.

As the population of obese/overweight individuals and patients with type 2 diabetes continues to grow in China, there is an increasing urgent clinical need for safe, effective, and convenient-to-administer treatment drugs.The dual-target agonist mechanism and ultra-long-acting properties of RAY1225 injection have the potential to fill a market gap in the relevant therapeutic field.This collaboration, by integrating Raynovent's R&D strengths with Qilu Pharmaceutical's commercialization capabilities, will significantly shorten the cycle from clinical trials to market application, allowing innovative therapies to benefit patients in China more quickly.

Raynovent's deep accumulation in the field of innovative drug research and development highly complements Qilu Pharmaceutical's comprehensive strength in production, sales, and market access. This "R&D + commercialization" collaborative cooperation model not only leverages the technical advantages of innovative pharmaceutical companies but also maximizes the efficiency of achievement transformation by utilizing the industrial resources of leading enterprises. It provides a reference for innovation cooperation in the pharmaceuticals industry and promotes the formation of a virtuous ecosystem of "R&D empowerment + commercial implementation."

Chen Xiaoxin, Ph.D., Vice President of Zhongsheng Pharmaceutical and Chairman of raynovent, stated:"Choosing Qilu Pharmaceutical as the commercialization partner for RAY1225 Injection is primarily based on its leading position in China's pharmaceutical industry and its excellent commercialization capabilities. As an industry leader, Qilu Pharmaceutical’s extensive sales network and market access capabilities will help us bring this innovative drug to a broader patient population more efficiently, providing them with safer and more effective treatment options."

In the future, both parties will adhere to the concept of "patient-centeredness," continuously advance the clinical trials and commercialization process of RAY1225 injection, rely on the power of scientific and technological innovation, and make positive contributions to improving the treatment level of metabolic diseases in China and safeguarding public health.