Core Viewpoint - The article discusses the strategic partnership between Minwei Bio and Sidera Bio for the global rights of the new GLP-1/GIP/FGF21 drug MWN105, highlighting the potential for expanding the global market for multi-target GLP-1 drugs, which are crucial in treating diabetes, obesity, and metabolic diseases [4][6]. Group 1: Partnership Details - Minwei Bio will receive a $35 million upfront payment and milestone payments, along with a 9.99% equity stake in Sidera Bio [5]. - The total potential milestone payments could reach up to $1.01 billion, in addition to a tiered sales revenue share [5]. - A joint management committee will be established to coordinate the global development of MWN105 [5]. Group 2: Company Background - In 2021, Minwei Bio completed a nearly 100 million yuan first-round financing, with investments from Minhe Capital [5]. - In 2023, Lepu Medical acquired a controlling stake in Minwei Bio for nearly 400 million yuan [5]. - Currently, Lepu Medical holds approximately 54.23% of Minwei Bio's shares [5]. Group 3: Industry Implications - The agreement is expected to enhance the global positioning of GLP-1 multi-target drugs, which are becoming a significant focus in innovative drug development [6]. - The collaboration aims to provide new treatment options for global patients while enhancing the company's brand influence and international competitiveness [6]. - The company emphasizes a dual approach of independent research and open collaboration to accelerate clinical transformation and market coverage of GLP-1 multi-target drugs [6].

本协议的签署有助于推动GLP-1多靶点药物的全球布局，这类药物因其在糖尿病、肥胖症及代谢性疾病 领域的突破性潜力，正成为全球创新药研发的重要方向。通过BD合作拓展海外市场，公司将为全球患 者提供新的治疗选择，同时进一步提升公司的品牌影响力和国际竞争力。公司坚持自主研发与开放合作 并重，依托国际合作加速GLP-1多靶点药物的临床转化和市场覆盖，深度融入全球药物创新生态，最大 化释放其临床价值与商业潜力，让前沿疗法惠及更多患者。 支付首笔投资款及近期里程碑款合计3,500万美元。作为对外许可交易对价一部分，上海民为生物将获 取丹麦Sidera公司9.99%的股权。根据临床开发和商业化销售金额，丹麦Sidera将向上海民为生物支付累 计不超过10.1亿美元的里程碑款。上海民为生物有权按照实际年净销售额，向丹麦Sidera收取相应的分 梯度的销售提成（不包括中国大陆、香港特别行政区、澳门特别行政区和台湾地区）。 格隆汇10月31日丨乐普医疗(300003.SZ)公布，公司控股子公司上海民为生物将具有自主知识产权的 MWN105注射液有偿许可给丹麦Sidera，丹麦Sidera公司将获得在除大中华区（中国大陆、香港特别 ...

Group 1 - BioBAY company, Borui Pharmaceutical, announced plans to issue H-shares and list on the Hong Kong Stock Exchange [1] - The company will consider the interests of existing shareholders and market conditions when choosing the timing for the issuance [1] Group 2 - Borui Pharmaceutical's product portfolio covers various therapeutic areas including metabolism, antiviral, antifungal, immunosuppressive, respiratory, and oncology [2] - Key products in the metabolism area include innovative drugs BGM0504 and BGM1812, while antiviral products include Entecavir and Oseltamivir [2] Group 3 - In the first half of 2025, Borui Pharmaceutical reported revenue of 537 million yuan and a net profit of 14.36 million yuan [3] - The company is focusing on multi-target drugs in the metabolism field, particularly exploring new administration methods beyond traditional injections [3] - The peptide-based hypoglycemic drug BGM0504 is a dual agonist of GLP-1 and GIP receptors, showing potential for treating various metabolic diseases [3] - Phase III clinical trials for BGM0504 for type 2 diabetes and weight loss have completed patient enrollment and are progressing as planned [3] - An IND application for BGM0504's hypoglycemic indication has been approved in Indonesia, and Phase III clinical research has officially commenced [3]