Hengrui Medicine Secures $500M Upfront in $12B Global Licensing Deal with GSK for HRS-9821 and Up to 11 Pipeline Candidates

Jul 28, 2025 09:17 CST Updated 09:17

GSK

Pharmaceutical R&D Manufacturer

Another overseas deal has been reached.

On July 28, 2025, Hengrui announced that it had reached an agreement with GSK. The former willHRS-9821Global Exclusive Rights(Excluding mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan region)And an exclusive option for global exclusive licenses of up to 11 projects is granted to the latter on a paid basis.

In return,GSK will pay Hengrui$500 million upfront paymentIf all items receive the exercise of options and all milestones are achieved, Hengrui will be eligible for future milestone payments based on successful development, registration, and sales.Total potential amount approximately 12 billion US dollarsAt the same time, Hengrui will have the right to charge GSK corresponding tiered sales royalties (excluding mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan region).

It is reported that HRS-9821, a potential best-in-class PDE3/4 inhibitor, is currently in clinical development for the treatment of chronic obstructive pulmonary disease (COPD) as an add-on maintenance therapy, regardless of prior treatment regimens. The drug has demonstrated potent PDE3 and PDE4 inhibition in early clinical and preclinical studies, enhancing bronchodilation and anti-inflammatory effects, while also providing an opportunity for the development of a convenient dry powder inhaler (DPI) formulation.

In addition to HRS-9821, the agreement also includes the collaborative development of up to 11 projects, each with its own financial structure. Hengrui will lead the R&D of these projects until the completion of Phase I clinical trials, including data from overseas participants. GSK will have the exclusive option to further develop and commercialize each project globally (excluding mainland China, Hong Kong SAR, Macao SAR, and Taiwan region) by the time Phase I clinical trials are completed at the latest, as well as certain project substitution rights.

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