Hengrui Pharma licenses heart drug to Braveheart Bio in US$1B deal

CHINA—Hengrui Pharma has entered into an exclusive licensing agreement with US-based Braveheart Bio, a specialist in cardiovascular diseases, for the development and commercialization of its small-molecule cardiac myosin inhibitor, HRS-1893.

Under the agreement, Braveheart Bio gains global rights to develop, produce, and sell the therapy, except in Mainland China, Macau SAR, Hong Kong SAR, and Taiwan.

As part of the deal, Braveheart Bio will make an initial payment of US$65 million to Hengrui Pharma, with half of the amount paid in cash and the other half in Braveheart Bio’s equity.

Additionally, Hengrui expects a near-term payment of up to US$10 million upon completion of the technology transfer, bringing the upfront total to US$75 million.

The agreement also includes the potential for Hengrui to earn up to $1.013 billion through development and commercial milestones, as well as royalties on net sales.

HRS-1893 is currently undergoing a Phase III clinical trial in China, targeting obstructive hypertrophic cardiomyopathy —a condition characterized by the abnormal thickening of the heart muscle.

The therapy works by selectively blocking the enzyme myosin adenosine triphosphatase, which reduces excessive myocardial contraction.

This action helps decrease left ventricular hypertrophy and improves the heart’s ability to relax during the diastolic phase, potentially providing better outcomes for patients with this disease.

Frank Jiang, Hengrui’s Chief Strategy Officer and Executive Vice President, expressed confidence in the agreement, highlighting that it showcases the company’s global strength and diversified research and development pipeline.

He emphasized that the partnership will speed up the development of innovative cardiovascular therapies and expand valuable treatment options for patients worldwide.

Earlier this year, HRS-1893 received positive Phase I clinical data, which was presented at the 2025 European Society of Cardiology Congress held in Madrid, Spain, from August 29 to September 1.

This data helped validate the drug’s potential, providing momentum for further clinical development.

In related developments, Hengrui Pharma completed a major transaction in May 2024, where it out-licensed its glucagon-like peptide-1 drug portfolio to Kailera Therapeutics using the NewCo model.

This deal could be worth up to $6 billion and included Hengrui acquiring a nearly 20% stake in the newly formed US-based company.

Furthermore, in July 2025, Hengrui signed a significant development agreement with GlaxoSmithKline (GSK) covering up to 12 medicines across several therapeutic areas, including immunology, respiratory diseases, inflammation, and oncology.

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