Singapore, Oct. 3 -- China-based Hengrui Pharma has entered into a license agreement with Novo Nordisk for HRS-1596, a phase I-ready glucagon-like peptide-1 receptor (GLP-1R) and gastric inhibitory polypeptide receptor (GIPR) dual agonist, with potential for once-weekly oral dosing.

Under the terms of the agreement, Novo will obtain exclusive rights to develop, manufacture and commercialise HRS-1596 globally, excluding the Chinese mainland, the Hong Kong SAR, the Macao SAR and Taiwan Region.

The potential total value of the agreement is up to $2.6 billion contingent on the achievement of applicable development, regulatory and commercial milestones. This includes a 300 million dollars upfront payment. In addition, Hengrui Pharma is eligi...