Jiangsu Hengrui of China inks licensing agreement with Braveheart Bio for a cardiac medication
Jiangsu Hengrui Pharmaceuticals Licenses HRS-1893 to US Startup Braveheart Bio
Jiangsu Hengrui Pharmaceuticals, a leading Chinese pharmaceutical company, has entered into a licensing agreement with Braveheart Bio, a one-year-old US startup specializing in the development of novel drugs. The agreement pertains to HRS-1893, a drug developed by Jiangsu Hengrui for the treatment of obstructive hypertrophic cardiomyopathy (OHCM), a specific type of heart disease.
According to the agreement, Braveheart Bio will receive exclusive worldwide rights to develop, manufacture, and commercialize HRS-1893 outside mainland China, Hong Kong, Macau, and Taiwan. The deal is an example of mainland drug makers licensing early-stage assets to international partners.
The filing of this agreement was made to the Hong Kong stock exchange on Friday, but the article does not mention any new details about the filing. Jiangsu Hengrui will receive an initial payment of US$75 million, which includes cash, Braveheart Bio shares, and a near-term milestone payment of up to US$10 million.
The drug HRS-1893 is developed by Jiangsu Hengrui for the treatment of OHCM, a heart disease that affects approximately one in 500 people worldwide, making it the most common genetic heart muscle disorder. The National Library of Medicine, the world's largest medical library based in Bethesda, Maryland, did not specify the current year in their research paper on the prevalence of OHCM.
Travis Murdoch, CEO of Braveheart Bio, previously founded Human Immunology Biosciences, which was sold to Biogen for US$1.8 billion in 2024. Murdoch is the leader of Braveheart Bio, a startup involved in licensing the innovative HRS-1893 drug from Jiangsu Hengrui Pharmaceuticals, focusing on cardiovascular treatments.
The licensing agreement between Jiangsu Hengrui Pharmaceuticals and Braveheart Bio does not mention any new details about the agreement. However, Jiangsu Hengrui could receive up to US$1.01 billion in milestone payments from Braveheart Bio, should the drug prove successful in clinical trials and commercialization.
This deal marks a significant step forward in the global fight against OHCM, with Jiangsu Hengrui's innovative drug HRS-1893 potentially reaching patients worldwide through Braveheart Bio's efforts. As the race to develop effective treatments for heart diseases continues, collaborations such as this one are crucial in driving innovation and improving patient outcomes.
