Core Viewpoint - Heng Rui Medicine has entered into an agreement with Braveheart Bio to license its innovative drug HRS-1893 for a total of $75 million, with potential milestone payments reaching up to $1.013 billion based on clinical development and sales performance [1][2]. Group 1: Agreement Details - Heng Rui Medicine will grant Braveheart Bio exclusive rights to develop, produce, and commercialize HRS-1893 globally, excluding mainland China, Hong Kong, Macau, and Taiwan [1]. - Braveheart Bio will pay an upfront fee of $65 million, consisting of $32.5 million in cash and $32.5 million in equity, along with a $10 million milestone payment upon completion of technology transfer, totaling $75 million [1]. - Heng Rui Medicine is eligible for additional milestone payments related to clinical development and sales, which could reach up to $1.013 billion [1]. Group 2: Drug Information - HRS-1893 is a myosin selective inhibitor that works by inhibiting the ATPase activity of cardiac myosin, thereby reducing excessive contraction of the myocardium, decreasing left ventricular hypertrophy, and improving diastolic relaxation [2]. - The drug is currently in Phase III clinical development for the treatment of obstructive hypertrophic cardiomyopathy (oHCM) [2].

Group 1 - Company Heng Rui Medicine (600276.SH) has entered into an agreement with Braveheart Bio, Inc. to license its innovative drug HRS-1893, which has independent intellectual property rights [1] - The licensing agreement grants Braveheart Bio exclusive rights to develop, produce, and commercialize HRS-1893 globally, excluding mainland China, Hong Kong, Macau, and Taiwan [1] - Braveheart Bio will pay a total of $75 million to Heng Rui, which includes a $65 million upfront payment and a $10 million milestone payment upon completion of technology transfer [1] Group 2 - HRS-1893 is a myosin selective inhibitor that works by inhibiting the activity of cardiac myosin ATPase, thereby reducing excessive myocardial contraction, decreasing left ventricular hypertrophy, and improving diastolic relaxation [2] - The drug is currently in Phase III clinical development for the treatment of obstructive hypertrophic cardiomyopathy (oHCM) [2]

格隆汇9月5日丨恒瑞医药(600276.SH)公布，公司与美国Braveheart Bio达成协议，将具有自主知识产权 的1 类创新药 HRS-1893(以下简称"HRS-1893")项目有偿许可给Braveheart Bio。根据协议，恒瑞将 HRS- 1893 在除中国大陆、香港特别行政区、澳门特别行政区及台湾地区以外的全球范围内开发、生产和商 业化的独家权利有偿许可给BraveheartBio。Braveheart Bio 将向恒瑞支付 6500 万美元首付款(含3250 万 美元现金和等值 3250 万美元的 Braveheart Bio 公司股权)和完成技术转移后的1000 万美元近期里程碑 款，总计 7500 万美元。恒瑞有资格获得与临床开发和销售相关的里程碑付款，最高可达10.13 亿美元。 据悉，HRS-1893 是一种 Myosin 选择性抑制剂，可通过抑制心肌肌球蛋白三磷酸腺苷(ATP)酶活性，从 而抑制心肌过度收缩，减少左心室肥厚并改善舒张期松弛。该药物目前正处于Ⅲ期临床开发阶段，用于 治疗梗阻性肥厚型心肌病(oHCM)。 本协议的签署有助于拓宽 HRS-1893 的海外市场，为全球患者 ...

格隆汇9月5日丨恒瑞医药(600276.SH)公布，公司与美国Braveheart Bio达成协议，将具有自主知识产权 的1 类创新药 HRS-1893(以下简称"HRS-1893")项目有偿许可给Braveheart Bio。根据协议，恒瑞将 HRS- 1893 在除中国大陆、香港特别行政区、澳门特别行政区及台湾地区以外的全球范围内开发、生产和商 业化的独家权利有偿许可给BraveheartBio。Braveheart Bio 将向恒瑞支付 6500 万美元首付款(含3250 万 美元现金和等值 3250 万美元的 Braveheart Bio 公司股权)和完成技术转移后的1000 万美元近期里程碑 款，总计 7500 万美元。恒瑞有资格获得与临床开发和销售相关的里程碑付款，最高可达10.13 亿美元。 本协议的签署有助于拓宽 HRS-1893 的海外市场，为全球患者提供优质的治疗选择，也将进一步提升公 司创新品牌和海外业绩。公司坚持自主研发与开放合作并重，在内生发展的基础上加强国际合作，实现 研发成果的快速转化，借助国际领先的合作伙伴覆盖海外市场，加速融入全球药物创新网络，实现产品 价值最大化，让公司创新 ...

Market Overview - On September 4, the A-share market experienced a downward trend, with the ChiNext Index leading the decline, falling over 6% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 2.54 trillion yuan, an increase of 180.2 billion yuan compared to the previous trading day [1] - Nearly 3,000 stocks declined, with consumer stocks showing resilience, while sectors like computing hardware and chips saw significant drops [1] Index Performance - The Shanghai Composite Index closed at 3,765.88, down 47.68 points (-1.25%) [2] - The Shenzhen Component Index closed at 12,118.7, down 353.3 points (-2.83%) [2] - The ChiNext Index closed at 2,776.25, down 123.12 points (-4.25%) [2] International Market Performance - The U.S. stock market saw gains on September 4, with the Dow Jones Industrial Average rising by 350.06 points (0.77%) to close at 45,621.29 [2] - The S&P 500 increased by 53.82 points (0.83%) to 6,502.08, and the Nasdaq Composite rose by 209.97 points (0.98%) to 21,707.69 [2] Oil Prices - International oil prices fell on September 4, with WTI crude oil down 49 cents to $63.48 per barrel (-0.77%) and Brent crude down 61 cents to $66.99 per barrel (-0.90%) [3] Government Initiatives - The State Council issued opinions to enhance the sports industry, aiming for a significant increase in the sector's scale to over 7 trillion yuan by 2030 [5] - The plan includes fostering world-class sports enterprises and events, and promoting the marketization of public sports venues [5] Central Bank Actions - The People's Bank of China announced a 10 trillion yuan reverse repurchase operation to maintain liquidity in the banking system [6] Industry Growth Plans - The Ministry of Industry and Information Technology released a plan for the electronic information manufacturing industry, targeting a revenue growth rate of over 5% annually from 2025 to 2026 [8] - The plan aims for the average growth rate of the computer, communication, and other electronic equipment manufacturing sectors to be around 7% [8] Corporate Announcements - Heng Rui Medicine received approval for clinical trials of HRS-4729 injection [12] - Hubei Yihua's 200,000-ton caustic soda project has commenced production [12] - China Shipbuilding announced a merger with China Heavy Industry, with the latter's A-share stock set to be delisted on September 5 [12]

Core Viewpoint - HengRui Medicine has entered into an exclusive licensing agreement with Braveheart Bio for the development and commercialization of its proprietary Myosin small molecule inhibitor HRS-1893 outside of Greater China [1] Group 1: Agreement Details - HengRui Medicine will receive a total of $75 million, which includes a $65 million upfront payment consisting of $32.5 million in cash and $32.5 million in Braveheart Bio equity, along with a $10 million milestone payment upon completion of technology transfer [1] - The agreement allows Braveheart Bio exclusive rights to develop, manufacture, and commercialize HRS-1893 globally, excluding mainland China, Hong Kong, Macau, and Taiwan [1] Group 2: Financial Implications - HengRui Medicine is eligible to receive up to $1.013 billion in milestone payments related to clinical development and sales, in addition to corresponding sales royalties [1]

转自：证券时报 人民财讯9月5日电，恒瑞医药(600276)9月5日早间公告，公司与美国BraveheartBio, Inc.（简 称"Braveheart Bio"）达成协议，将具有自主知识产权的1类创新药 HRS-1893（简称"HRS-1893"）项目 有偿许可给Braveheart Bio。Braveheart Bio将向恒瑞支付6500万美元首付款（含3250万美元现金和等值 3250万美元的Braveheart Bio公司股权）和完成技术转移后的1000万美元近期里程碑款，总计7500万美 元。恒瑞有资格获得与临床开发和销售相关的里程碑付款，最高可达10.13亿美元。 ...

Core Viewpoint - Heng Rui Medicine has entered into an agreement with Braveheart Bio for the licensing of its innovative drug HRS-1893, which is currently in Phase III clinical development for the treatment of obstructive hypertrophic cardiomyopathy (oHCM) [1][2] Group 1: Agreement Details - Heng Rui will grant Braveheart Bio exclusive rights to develop, produce, and commercialize HRS-1893 globally, excluding mainland China, Hong Kong, Macau, and Taiwan [1] - 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 [1] - Heng Rui is eligible for additional milestone payments related to clinical development and sales, potentially reaching up to $1.013 billion [1] Group 2: Drug Information and Strategic Implications - HRS-1893 is a myosin selective inhibitor that reduces left ventricular hypertrophy and improves diastolic relaxation by inhibiting myocardial ATPase activity [2] - The agreement is expected to expand HRS-1893's overseas market presence, providing high-quality treatment options for global patients and enhancing the company's innovative brand and international performance [2] - The company aims to balance independent research and open collaboration, strengthening international partnerships to accelerate the transformation of research outcomes and maximize product value for global patients [2]

Core Insights - Heng Rui Medicine has entered into an agreement with Braveheart Bio to license its innovative drug HRS-1893, which is currently in Phase III clinical development for the treatment of obstructive hypertrophic cardiomyopathy (oHCM) [1][2] Group 1 - HRS-1893 is a Myosin selective inhibitor that reduces excessive myocardial contraction by inhibiting ATPase activity, thereby decreasing left ventricular hypertrophy and improving diastolic relaxation [1] - The licensing agreement grants Braveheart Bio exclusive rights to develop, manufacture, and commercialize HRS-1893 globally, excluding mainland China, Hong Kong, Macau, and Taiwan [2] Group 2 - Braveheart Bio will pay a total of $75 million to Heng Rui, 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 [2] - Heng Rui is eligible to receive up to $1.013 billion in milestone payments related to clinical development and sales, along with sales royalties based on HRS-1893's performance outside the specified regions [2]

Group 1 - China Shipbuilding Industry Corporation is set to absorb China Shipbuilding Industry Corporation through a share swap, with the A-shares of China Shipbuilding Industry Corporation terminating listing on September 5 [1] - Yutong Bus reported sales of 4,260 units in August, representing a year-on-year increase of 16.78% [1] Group 2 - Shanghai Raist plans for some directors and all senior management to increase their shareholding by no less than 6 million yuan within six months [2] - Bowei Alloy's upcoming high-end AI smartphone will fully utilize the company's VC cooling materials [2] - Guoxin Technology has successfully tested a new generation of automotive electronic BLDC motor drive control high-performance chip [2] - Junsheng Electronics is collaborating with leading clients like Zhiyuan Robotics, with customized main control boards already in mass production [2] - Fuliwang has begun shipping metal components such as robot reducers [2] - Beijing Lier has signed strategic cooperation agreements with SenseTime and Xiwang Technology to explore AI computing power collaboration [2] - Xiandai Intelligent has successfully completed the entire process for mass production of all-solid-state batteries [2] - Tongguan Copper Foil has developed copper foil products suitable for solid-state and semi-solid-state batteries [2] - Heng Rui Pharmaceutical has received a clinical trial approval notice for HRS-4729 injection [2] - Ningbo Construction's subsidiary has won construction projects totaling 1.117 billion yuan [2] - Zhongwei Company has launched six new semiconductor equipment products [2] - China Construction Bank's CCB Financial Leasing plans to increase capital by 3 billion yuan to CCB Shipping and Aviation [2]