Hengrui Pharma(SH:600276) Guo Ji Jin Rong Bao·2025-09-05 04:56Core Viewpoint - HengRui Medicine has entered into an exclusive licensing agreement with Braveheart Bio for its self-developed Myosin small molecule inhibitor HRS-1893, marking a significant step in the company's international expansion strategy through the NewCo model [1][3]. Group 1: Licensing Agreement Details - The agreement grants Braveheart Bio exclusive rights to develop, produce, and commercialize HRS-1893 globally, excluding mainland China, Hong Kong, Macau, and Taiwan [3]. - Braveheart Bio will pay a total of $75 million, which includes a $65 million upfront payment (comprising $32.5 million in cash and $32.5 million in equity) and a $10 million milestone payment upon completion of technology transfer [3]. - Additionally, HengRui Medicine could receive up to $1.013 billion in milestone payments related to clinical development and sales, along with corresponding sales royalties [3]. Group 2: Product Information - HRS-1893 is a highly selective Myosin small molecule inhibitor that specifically inhibits myocardial ATPase activity, normalizing myocardial contractility, reducing left ventricular hypertrophy, and improving diastolic compliance [4]. - The drug is currently undergoing a Phase III clinical trial in China for obstructive hypertrophic cardiomyopathy and has multiple ongoing clinical trials in the cardiovascular disease field [4]. Group 3: Strategic Implications - The partnership with top-tier life science investment firms like Forbion and OrbiMed highlights HengRui's international competitiveness and the high value of its diversified R&D pipeline [6]. - The collaboration aims to accelerate the global development of innovative therapies in the cardiovascular field, addressing unmet medical needs [6]. - This agreement follows HengRui's previous successful licensing deals, including a notable transaction with GSK, which set a new record for outbound licensing agreements from China [7].