Another NewCo Deal! Hengrui’s Myosin Inhibitor HRS-1893 Licensed Overseas, Transaction Value Exceeds $1 Billion

Hengrui Pharmaceuticals continues to intensify its BD combos! Today, Hengrui announced an exclusive licensing agreement with U.S.-based BraveheartBio for its self-developed small molecule inhibitor of cardiac myosin (Myosin), HRS-1893. Caixin News noted that this BD transaction operates under the NewCo model, bringing Hengrui’s total BD deal value for the year to over $15 billion.

Under the agreement, Hengrui grants BraveheartBio exclusive global rights to develop, manufacture, and commercialize HRS-1893 outside of Mainland China, Hong Kong SAR, Macau SAR, and Taiwan region.

BraveheartBio will pay Hengrui an upfront fee of $65 million (including $32.5 million in cash and $32.5 million equivalent in BraveheartBio equity) and a near-term milestone payment of $10 million upon technology transfer, totaling $75 million. Additionally, Hengrui is eligible to receive up to $1.013 billion in clinical development and sales milestone payments, plus royalties on sales.

Dr. Jiang Ningjun, Executive Vice President and Chief Strategy Officer of Hengrui, stated: “This marks another collaboration with international capital under the NewCo model to advance global pharmaceutical innovation.”

According to Hengrui, HRS-1893 is a highly selective small molecule inhibitor of myosin developed in-house. It specifically inhibits cardiac myosin ATPase activity, normalizes myocardial contractility, reduces left ventricular hypertrophy, and improves diastolic compliance. HRS-1893 has undergone multiple clinical trials, with Phase I data recently presented at the 2025 European Society of Cardiology (ESC) Congress. Furthermore, a Phase III clinical trial has been initiated for obstructive hypertrophic cardiomyopathy.

Dr. Travis Murdoch, CEO of BraveheartBio, said: “We are thrilled to partner with Hengrui to advance HRS-1893 into late-stage clinical development. The Phase I data presented at the 2025 ESC Congress further reinforces our confidence in this molecule, and we believe HRS-1893 has best-in-class potential among myosin inhibitors.”