Jiangsu Hengrui Medicine (SHA: 600276) signed a licensing deal with Merck Sharp & Dohme for its oral Lp(a) inhibitor, HRS-5346.
Under the agreement, Merck Sharp & Dohme gains exclusive rights for HRS-5346 outside Greater China, according to a Tuesday filing with the Shanghai bourse. We
Jiangsu Hengrui Medicine will receive a downpayment of $200 million and up to $1.77 billion in milestone payments.
HRS-5346 is an oral small molecule inhibitor of Lp(a) under development and is currently undergoing phase two clinical trials in China.
Shares of the company jumped 3% in recent trade.
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