Hengrui Signs Licensing Agreement Worth Over $1 Billion
Recently,Jiangsu Hengrui Medicine Co., Ltd. announced that it has reached an agreement with U.S.-based Braveheart Bio, Inc. to grant a paid license for the innovative Class 1 drug HRS-1893, which is independently developed and intellectual property owned, to Braveheart Bio.Hengrui is entitled to receive milestone payments related to clinical development and sales.Up to $1.013 billion.
Main content of the authorization:
Hengrui Granted Braveheart Bio Exclusive Rights to Develop, Manufacture, and Commercialize HRS-1893 Globally, Except in Mainland China, Hong Kong SAR, Macao SAR, and Taiwan Region.
Braveheart Bio will pay Hengrui 65 million US dollars as the upfront payment (including 32.5 million US dollars in cash and Braveheart Bio company shares equivalent to 32.5 million US dollars) and 10 million US dollars as a near-term milestone payment after the completion of technology transfer, totaling 75 million US dollars.
Hengrui is eligible to receive milestone payments related to clinical development and sales.Up to $1.013 billion;Based on the sales of HRS-1893 worldwide, excluding mainland China, the Hong Kong Special Administrative Region, the Macao Special Administrative Region, and Taiwan, Braveheart Bio will pay Jiangsu Hengrui Medicine Co., Ltd. corresponding sales royalties.
The license agreement between Hengrui and Braveheart Bio becomes effective from the date of signing by both parties. Unless terminated early according to the contract terms, the agreement will continue until the end of the royalty period for HRS-1893 sales.
Regarding the authorized party and product information:
HRS-1893 is a selective Myosin inhibitor that can inhibit excessive myocardial contraction by suppressing the activity of cardiac myosin adenosine triphosphate (ATP)ase, reduce left ventricular hypertrophy, and improve diastolic relaxation. This drug is currently in Phase III clinical development for the treatment of obstructive hypertrophic cardiomyopathy (oHCM).
Braveheart Bio is a company established in Delaware, USA, in 2024. Its CEO, Travis Murdoch, has over a decade of experience in life science investment, operational management, and clinical medicine. Before joining Braveheart Bio in 2025, he founded HI-Bio and served as its CEO, overseeing daily operations and management. He also led the $1.8 billion acquisition deal between HI-Bio and Biogen in 2024. Following this, he managed Biogen's West Coast U.S. hub and advanced multiple Phase III clinical trials for HI-Bio projects.
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According to the relevant regulations of the "Advertising Law of the People's Republic of China" and the "Measures for the Administration of Internet Drug Information Services," the content on this platform does not fall within the scope of drug advertisements. The drug information provided is presented as an objective statement and does not possess commercial promotional attributes.