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Hengrui Sells GLP-1 Portfolio Rights to Startup in $6 Billion Deal

publication date: May 20, 2024

Jiangsu Hengrui Medicine out-licensed global rights for its portfolio of three proprietary GLP-1 candidates to a US startup, Hercules, in a deal worth up to $6 billion. Hengrui will receive $110 million upfront, up to $200 million in milestones, and as much as $5.725 billion in sales milestones, plus royalties. Hengrui will own a 19.9% equity stake in Hercules as part of the deal. At the same time, Hercules, a partnership between Bain, Atlas, RTW and Lyra Capital, raised $400 million from four investors to get the company going. More details....

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