Beijing – September 08, 2026 -- Gan & Lee Pharmaceuticals (603087.SH) has signed an exclusive license agreement with Italy's Menarini Group worth up to EUR 726 million, excluding royalties, to register and commercialize its GLP-1 receptor agonist bofanglutide for obesity and overweight treatment across 39 countries.
Deal structure delivers EUR 62 million upfront with EUR 664 million in milestones
Gan & Lee will receive an upfront payment of EUR 62 million, milestone payments totaling up to EUR 664 million, and double-digit royalties on net sales in the licensed territory. Menarini takes responsibility for regulatory submissions and commercialization across the 27 EU Member States plus the United Kingdom, Switzerland, Norway, Iceland, Liechtenstein and Balkan countries.
Bofanglutide cuts dosing frequency by 50% versus weekly GLP-1 rivals
Bofanglutide, internally coded GZR18, is a China Class 1 investigational drug administered subcutaneously once every two weeks, halving the injection frequency of once-weekly GLP-1 RA therapies currently on the market. Gan & Lee's pivotal Phase 3 study in China and a Phase 2 study in the United States both met primary endpoints, showing weight-loss efficacy and a tolerability profile consistent with other drugs in the GLP-1 RA class.
Gan & Lee plans global Phase 3 program to support European registration
The company intends to launch a global Phase 3 clinical development program for bofanglutide to support regulatory filings in Europe and other highly regulated markets. Menarini Group CEO Elcin Barker Ergun said clinical data so far have shown weight reduction and secondary metabolic benefits, with the biweekly dosing regimen offering a differentiation opportunity against existing therapies.
Gan & Lee positions deal as pivot from insulin leadership to metabolic disease innovator
Dr. Wei Chen, Chairman and CEO of Gan & Lee, said the partnership establishes a pathway for bofanglutide's entry into the European market and marks a transformation for the company from an insulin manufacturer to a global player in metabolic disease. He said the collaboration combines Gan & Lee's clinical development, manufacturing and supply capabilities with Menarini's regulatory strategy and commercial execution across the licensed territories.
Menarini, headquartered in Florence with operations in 140 countries and EUR 4.88 billion in consolidated turnover, is expanding its footprint in the metabolic space alongside its established cardiometabolic, oncology, diabetology and gastroenterology portfolios. Bofanglutide remains an investigational compound whose safety and efficacy have not been established or authorized by the European Medicines Agency or other health authorities.