Core Viewpoint - The development of Alzheimer's disease drugs by Xiansheng Pharmaceutical has reportedly ceased, although some sources indicate that the related research projects have not been formally stopped [1][2]. Group 1: Company Overview - Xiansheng Pharmaceutical (HK02096) is an innovative and research-driven pharmaceutical company focusing on neuroscience, oncology, autoimmune diseases, and anti-infection fields [2]. - The company entered the Alzheimer's disease sector in 2021, becoming one of the first domestic enterprises to introduce innovative drug pipelines for AD [2]. Group 2: Collaboration with Vivoryon Therapeutics - In June 2021, Xiansheng Pharmaceutical established a strategic regional licensing partnership with Vivoryon Therapeutics to develop and commercialize two Alzheimer's disease drugs in Greater China [1][2]. - The drugs involved are Varoglutamstat, an oral small molecule QPCT inhibitor, and the monoclonal antibody PBD-C06 [2]. Group 3: Clinical Trials and Results - Varoglutamstat's IIb clinical trial (VIVIAD study) showed no significant efficacy for Alzheimer's patients, failing to meet its primary endpoint [4]. - The drug's mechanism targets the inhibition of pE-Aβ formation, aiming to prevent neurotoxic effects early in the disease [3]. - Initial clinical benefits were observed in early-stage trials, but subsequent studies did not confirm these findings [3][4]. Group 4: Financial Aspects - Xiansheng Pharmaceutical has paid Vivoryon a total of €740 million for the development of Alzheimer's drugs, with potential additional payments exceeding $565 million based on development milestones [6][7]. - The company has not disclosed the total investment amount for the Alzheimer's drug development pipeline [6]. Group 5: Industry Context - The Alzheimer's drug development landscape is challenging, with a low success rate; only 2.7% of drugs in clinical trials from 1998 to 2017 were approved [7]. - Major pharmaceutical companies have faced significant challenges in this area, leading to the closure of AD research departments due to lack of clinical benefits or significant side effects [8].