Hengrui Medicine licenses HRS-1893 to Braveheart Bio for global markets

Jiangsu Hengrui Medicine Co., Ltd. has granted Braveheart Bio, Inc. exclusive rights to develop, manufacture, and commercialize its novel drug HRS-1893 outside of mainland China, Hong Kong, Macau, and Taiwan. This myosin-selective inhibitor is in Phase III clinical development for obstructive hypertrophic cardiomyopathy (oHCM).

Hengrui Medicine will receive an upfront payment of $65 million, comprising $32.5 million in cash and an equivalent value in Braveheart Bio equity. An additional $10 million in near-term milestone payments is expected upon technology transfer, bringing initial and near-term payments to $75 million.

Furthermore, Hengrui Medicine is eligible to receive up to $1.013 billion in clinical development and sales-related milestone payments, as well as sales royalties based on HRS-1893's performance in the licensed territories. Braveheart Bio, established in 2024, is backed by investors including Forbion Capital and OrbiMed.