Hengrui Pharma and Braveheart Bio Enter Into Exclusive License Agreement

New York – September 5, 2025 – Cooley advised Hengrui Pharma, a global pharmaceutical company, on its exclusive license agreement with Braveheart Bio for HRS-1893, a small-molecule inhibitor of cardiac myosin independently developed by Hengrui Pharma with best-in-class potential. Hengrui Pharma is eligible to receive potential development and commercial milestone payments of up to $1.013 billion, in addition to related royalties based on net sales.

Under the terms of the agreement, Hengrui Pharma has granted Braveheart exclusive rights to develop, manufacture and commercialize HRS-1893 worldwide (excluding mainland China, Hong Kong, Macao and Taiwan). Braveheart will make an upfront payment of $65 million (consisting of $32.5 million in cash and $32.5 million in Braveheart shares) and a near-term payment of up to $10 million upon technology transfer completion, totaling $75 million.

Lawyers Alan Tamarelli, Freddy Yip and Steve Przesmicki led the Cooley team advising Hengrui Pharma, with support from Navya Dasari, Max Levinbook, Jeffrey Tolin, Amanda Pacheco, David Burns, Andrew Epstein, Zhijing Yu, Christopher Kimball, Robert Eisenbach, Rachel Thorn and Karen Tsai.

Over the past two years, Cooley has advised Hengrui Pharma on its up to $12.5 billion agreement with GSK to develop up to 12 medicines, an exclusive license agreement with Merck KGaA, an exclusive license agreement with Merck for HRS-5346, a global license agreement (excluding Greater China) with Kailera Therapeutics (previously known as Hercules CM Newco), an exclusive worldwide (excluding mainland China) license agreement and a global license agreement (excluding Greater China and Korea) with Elevar Therapeutics.

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