Hengrui and GSK Partner to Develop Up to 12 Novel Therapies in Respiratory, Immunology, Inflammation, and Oncology

License includes a potential best-in-class PDE3/4 inhibitor (HRS-9821) currently in clinical trials for COPD treatment.
Hengrui Pharma will develop 11 additional programs, with GSK holding the option to license them post-Phase I completion.

JIANGSU, China, July 27, 2025 /PRNewswire/ — In a move signaling a significant strategic partnership, Hengrui Pharma (600276.SH; 01276.HK) announced today it has inked agreements with GSK plc (LSE/NYSE: GSK) to co-develop up to a dozen innovative medicines. The deal, injecting fuel into Hengrui’s global expansion, aims to fortify GSK’s growth pipeline beyond 2031. The selection of programs strategically complements GSK’s Respiratory, Immunology & Inflammation (RI&I) and Oncology divisions, with each asset evaluated for its potential to achieve best- or first-in-class status. GSK is putting $500 million on the table upfront across the agreements.

The headline of the deal is an exclusive worldwide license (excluding mainland China, Hong Kong SAR, Macau SAR, and Taiwan region) for HRS-9821, a PDE3/4 inhibitor showing promise as a potential best-in-class treatment for chronic obstructive pulmonary disease (COPD). HRS-9821 is designed as an add-on maintenance therapy, targeting a broad spectrum of COPD patients, particularly those experiencing persistent dyspnea or unsuitable for inhaled corticosteroids or biologics. This addition aligns with GSK’s mission to expand treatment options for diverse COPD patient profiles.

Early clinical and pre-clinical data on HRS-9821 indicate potent PDE3 and PDE4 inhibition, leading to bronchodilation and reduced inflammation. Further sweetening the deal, HRS-9821 presents an opportunity for a convenient dry-powder inhaler (DPI) formulation, a strategic fit within GSK’s established inhaled portfolio.

Beyond HRS-9821, the agreements encompass a pioneering, staged collaboration focused on developing up to 11 additional novel programs, each structured with individual financial terms. Hengrui Pharma will spearhead the development of these programs through Phase I trials, including patient enrollment outside of China. Upon completion of Phase I, GSK retains the exclusive option to advance and commercialize each program globally (excluding mainland China, Hong Kong SAR, Macau SAR, and Taiwan region). GSK also maintains the right to exercise its option earlier, at its discretion, and introduce certain program substitutions.

Frank Jiang, Executive Vice President and Chief Strategy Officer of Hengrui Pharma, stated, “This strategic collaboration with GSK marks yet another significant milestone in Hengrui’s globalisation journey and our mission to innovate and deliver higher-quality, cutting-edge therapies for patients worldwide. GSK brings additional R&D expertise, a robust global clinical network, and broad regulatory capabilities that will accelerate our PDE3/4 inhibitor as well as an array of other innovative therapy programs to overseas markets, potentially delivering breakthrough treatments to patients globally.”

Tony Wood, Chief Scientific Officer, GSK commented, “We’re delighted to announce these exciting agreements with Hengrui Pharma which complement our already-extensive pipeline. This deal reflects our strategic investment in programmes that address validated targets, increasing the likelihood of success, and with the option to advance those assets with the greatest potential for patient impact.”

The collaboration aims to accelerate the development of up to 11 additional innovative medicines, leveraging GSK’s therapy area expertise and deep understanding of disease biology, coupled with Hengrui Pharma’s robust early discovery engine, platform technologies, and efficient clinical evaluation capabilities. It’s a synergistic fusion of innovation amplified by global commercial reach.

Financial considerations
GSK’s initial investment includes $500 million in upfront payments across the agreements, encompassing the license for the PDE3/4 program. Hengrui Pharma stands to receive approximately $12 billion in potential future success-based development, regulatory, and commercial milestone payments if all programs are optioned and all milestones met. On top of that, Hengrui Pharma is eligible for tiered royalties on global product net sales (excluding mainland China, Hong Kong SAR, Macau SAR, and Taiwan region).

The licensing of HRS-9821 is contingent upon standard conditions, including clearances from applicable regulatory agencies, such as the Hart-Scott-Rodino Act in the U.S.

About GSK
GSK is a global biopharma company with a purpose to unite science, technology, and talent to get ahead of disease together. Find out more at gsk.com.

About Hengrui Pharma
Hengrui Pharma is an innovative, global pharmaceutical company dedicated to the research, development and commercialisation of high-quality medicines to address unmet clinical needs. With a global R&D team that includes 14 R&D centres and more than 5,500 professionals, Hengrui Pharma’s therapeutic areas of focus include oncology, metabolic and cardiovascular diseases, immunological and respiratory diseases, and neuroscience. To date, Hengrui has commercialised 23 new molecular entity drugs and 4 other innovative drugs in China. Founded in 1970 with the core principle of putting patients first, Hengrui Pharma remains committed to advancing human health by striving to conquer diseases, improve health, and extend lives through the power of science and technology.

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