Hengrui licenses SHR7280 project to Merck KGaA

Jiangsu Hengrui Medicine (SSE:600276) announced it has entered into a licensing agreement with Merck KGaA for the SHR7280 project, an oral GnRH receptor antagonist. Under the terms of the agreement, Merck KGaA gains exclusive rights to commercialize SHR7280 in mainland China, excluding Hong Kong, Macau, and Taiwan. Merck KGaA will also receive preferential negotiation rights for SHR7280 in regions outside the licensed territory. Hengrui will receive an upfront payment of EUR 15 million, with potential milestone payments upon regulatory approval in China and tiered royalties on annual net sales. Both companies will establish a joint management committee to coordinate the commercialization efforts. Hengrui has been developing SHR7280 for assisted reproductive technology.