Hengrui Pharma(SH:600276) Shang Hai Zheng Quan Bao·2025-09-05 21:06Core Viewpoint - Jiangsu Hengrui Medicine Co., Ltd. has signed a licensing agreement with Braveheart Bio for the innovative drug HRS-1893, which is currently in phase III clinical development for obstructive hypertrophic cardiomyopathy (oHCM) [1][2]. Group 1: Product Information - HRS-1893 is a myosin selective inhibitor that reduces excessive myocardial contraction, decreases left ventricular hypertrophy, and improves diastolic relaxation [2]. - The drug is in phase III clinical development and aims to provide treatment options for patients with oHCM [2]. Group 2: Counterparty Information - Braveheart Bio, established in Delaware in 2024, is led by CEO Travis Murdoch, who has over 10 years of experience in life sciences investment and clinical management [3]. - Prior to joining Braveheart Bio in 2025, Murdoch founded HI-Bio and led an $18 billion acquisition deal with Boehringer Ingelheim [3]. Group 3: Agreement Terms - Hengrui grants Braveheart Bio exclusive rights to develop, produce, and commercialize HRS-1893 globally, excluding mainland China, Hong Kong, Macau, and Taiwan [5]. - Braveheart Bio will pay Hengrui a total of $75 million, which includes a $65 million upfront payment and a $10 million milestone payment after technology transfer [6]. - Hengrui is eligible for milestone payments related to clinical development and sales, potentially reaching up to $1.013 billion [7]. - Sales royalties will be paid to Hengrui based on the global sales of HRS-1893 outside the specified regions [9]. - A joint management committee will be established to coordinate the development and commercialization of the licensed product [9]. - The agreement is effective upon signing and will last until the sales royalty period ends [9]. Group 4: Impact on the Company - The agreement is expected to expand HRS-1893's overseas market presence, providing quality treatment options for global patients and enhancing the company's innovative brand and international performance [10]. - The company aims to strengthen international cooperation while maintaining a balance between independent research and open collaboration, facilitating rapid transformation of research outcomes and maximizing product value [10].