Two global partnerships surfaced across metabolic disease and oncology this week, as Novo and AstraZeneca each moved to expand their pipelines through deals with clinical-stage innovators.

Hengrui Pharma licenses HRS-1596 to Novo

Hengrui Pharma entered into a license agreement with Novo for HRS-1596, a phase I-ready glucagon-like peptide-1 receptor (GLP-1R) and gastric inhibitory polypeptide receptor (GIPR) dual agonist with potential for once-weekly oral dosing.¹ The potential total value of the agreement is estimated at $2.6 billion, and is contingent on development, regulatory and commercial milestones, including a $300 million upfront payment.¹ As part of the deal, Hengrui Pharma is also eligible to receive royalties on net sales of HRS-1596 within the licensed territory.

Under the agreement, Novo obtains exclusive rights to develop, manufacture and commercialize HRS-1596 globally, excluding the Chinese mainland, the Hong Kong SAR, the Macao SAR and Taiwan region.¹

HRS-1596 is designed to reduce weight and improve glycemic control through multiple mechanisms, including appetite suppression, stimulation of insulin secretion and improved insulin sensitivity, supporting potential use in obesity, type 2 diabetes and other metabolic diseases.¹ Its potential for once-weekly oral administration would substantially reduce dosing frequency and improve convenience compared with current offerings. Hengrui Pharma has received approval in China to initiate Phase I clinical trials with HRS-1596 for weight management and type 2 diabetes.

"We are committed to continuous innovation, bringing better treatments to patients. HRS-1596 reflects this commitment in metabolic diseases, with the potential to offer the convenience of once-weekly oral administration," said Frank Jiang, MD, PhD, executive vice president and chief strategy officer of Hengrui Pharma. "This collaboration brings together Hengrui's innovation strengths and Novo's global leadership in GLP-1 therapies and obesity care. Together, we aim to advance this innovative therapy for patients worldwide."

AstraZeneca enters collaboration with Summit Therapeutics

AstraZeneca agreed to invest $2 billion in Summit Therapeutics Inc. to accelerate development of ivonescimab, a first-in-class bispecific antibody targeting PD-1 and VEGF, in combination with antibody drug conjugates across tumor types.

Under terms of the agreement, AstraZeneca will purchase approximately 109 thousand shares of preferred stock, convertible into common stock at a 1:1,000 ratio, and once completed, the investment will give AstraZeneca rights equivalent to approximately 12.0% of Summit's outstanding common stock, or approximately 10.6% on a fully diluted basis.² Closing of the preferred stock investment is anticipated within one week, with any future conversion to common stock subject to customary regulatory clearances.

Summit and AstraZeneca also entered into a clinical collaboration agreement to evaluate sonesitatug vedotin (Sone-Ve), a potential global first-in-class CLDN18.2-targeting antibody drug conjugate carrying a monomethyl auristatin E payload, in combination with ivonescimab; the companies intend to initiate trials in gastrointestinal cancers under the collaboration imminently.² Each company is expected to contribute its respective medicine to the planned combination trials and jointly fund trial costs, while retaining development and commercial rights to its own medicine.²

The two companies have also signed a memorandum of understanding with the intent to enter into an agreement establishing a global development program combining ivonescimab with AstraZeneca's other cancer medicines, including additional antibody drug conjugates.²

"A core pillar of our oncology strategy is to broaden the reach of our ADC portfolio as the backbone of treatment across tumor types with combinations alongside next-generation immunotherapies," said Susan Galbraith, executive vice president, oncology haematology R&D, at AstraZeneca. "Bispecifics targeting PD-1 and VEGF are rapidly advancing in development and have the potential to improve on current immunotherapies, particularly in lung, breast and gastrointestinal cancers. This opportunity to combine ivonescimab with AstraZeneca's ADC portfolio, including with Sone-Ve, could enable new regimens that raise the bar for patients with cancer across the treatment landscape."

Sources

1. Hengrui Pharma and Novo Enter Exclusive License Agreement for Once-Weekly Oral GLP-1/GIP Dual Receptor Agonist HRS-1596 Hengrui Pharma September 29, 2026, https://www.prnewswire.com/news-releases/hengrui-pharma-and-novo-enter-exclusive-license-agreement-for-once-weekly-oral-glp-1gip-dual-receptor-agonist-hrs-1596-302892378.html
2. AstraZeneca announces strategic equity investment and clinical collaboration with Summit Therapeutics to advance leading ADC combination strategy in cancer AstraZeneca September 28, 2026, https://www.astrazeneca.com/media-centre/press-releases/2026/astrazeneca-announces-equity-investment-summit.html