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Licensing Agreement

Hengrui Licenses Oral GLP-1/GIP Drug to Novo in $2.6B Deal

Hengrui Licenses Oral GLP-1/GIP Drug to Novo in $2.6B Deal

Shanghai – – September 29, 2026 -- Hengrui Pharma has licensed its investigational obesity and diabetes drug HRS-1596 to Novo Nordisk in a deal worth up to 2.6 billion US dollars, including a 300 million dollar upfront payment.

Novo secures global rights excluding Greater China

Under the agreement, Novo obtains exclusive rights to develop, manufacture and commercialise HRS-1596 worldwide, excluding the Chinese mainland, Hong Kong SAR, Macao SAR and Taiwan Region. Hengrui Pharma retains eligibility for royalties on net sales of the drug within Novo's licensed territory, on top of the milestone-based payments tied to development, regulatory and commercial targets.

BoomRay Licenses Preclinical Radioligand Asset to Novartis for $900M

Suzhou – September 22, 2026 -- Boomray Pharmaceuticals Co., Ltd. has signed an exclusive global license agreement with Novartis Pharma AG for an undisclosed preclinical radioligand therapy (RLT) asset, with total deal value reaching up to USD 900 million.

Novartis secures rights to undisclosed preclinical oncology asset

Under the agreement, BoomRay will be eligible to receive an upfront payment plus development, regulatory, and sales milestone payments totaling up to USD 900 million. The Suzhou-based company will also earn royalties on future global net sales of the licensed program.

WuXi XDC Licenses ADC Payload Platform to Ona Therapeutics

WuXi XDC Licenses ADC Payload Platform to Ona Therapeutics

Shanghai – September 19, 2026 -- WuXi XDC Cayman Inc. (2268.HK) has out-licensed its proprietary WuXiTecan-2 payload-linker technology platform to Ona Therapeutics under an exclusive global agreement targeting a single antibody-drug conjugate (ADC) candidate.

Deal structure includes upfront payment, milestones and tiered royalties

The agreement grants Ona Therapeutics exclusive global rights to develop an ADC candidate using WuXi XDC's WuXiTecan-2 platform. The total potential deal value comprises an upfront payment plus development, regulatory and sales milestone payments, with WuXi XDC also eligible for tiered royalties on net sales once the resulting product reaches commercialization. WuXi XDC will additionally provide chemistry, manufacturing and controls (CMC) development and manufacturing support through its integrated ADC CRDMO platform.