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Madrigal Pharmaceuticals Enters into Exclusive Global License Agreement for Oral GLP-1 Receptor Agonist with CSPC Pharmaceutical Group Limited

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Madrigal Pharmaceuticals (NASDAQ:MDGL) has secured an exclusive global license agreement with CSPC Pharmaceutical Group for SYH2086, a preclinical oral GLP-1 receptor agonist. The deal involves an upfront payment of $120 million and potential milestone payments up to $2 billion, plus royalties.

The agreement aligns with Madrigal's strategy to develop combination treatments for MASH (Metabolic dysfunction-Associated SteatoHepatitis), building upon their foundational therapy Rezdiffra�. Clinical development is planned to begin in first half of 2026. The combination aims to leverage GLP-1's weight loss benefits with Rezdiffra's fibrosis and lipid reduction capabilities in a once-daily oral formulation.

Madrigal Pharmaceuticals (NASDAQ:MDGL) ha ottenuto un accordo di licenza esclusiva globale con CSPC Pharmaceutical Group per SYH2086, un agonista orale del recettore GLP-1 in fase preclinica. L'accordo prevede un pagamento anticipato di 120 milioni di dollari e potenziali pagamenti per traguardi fino a 2 miliardi di dollari, oltre a royalties.

L'intesa è in linea con la strategia di Madrigal di sviluppare trattamenti combinati per la MASH (Steatoepatite Associata a Disfunzione Metabolica), basandosi sulla loro terapia di base Rezdiffra�. Lo sviluppo clinico è previsto per la prima metà del 2026. La combinazione punta a sfruttare i benefici del GLP-1 nella perdita di peso insieme alle capacità di Rezdiffra nella riduzione della fibrosi e dei lipidi, in una formulazione orale da assumere una volta al giorno.

Madrigal Pharmaceuticals (NASDAQ:MDGL) ha asegurado un acuerdo exclusivo de licencia global con CSPC Pharmaceutical Group para SYH2086, un agonista oral del receptor GLP-1 en fase preclínica. El acuerdo incluye un pago inicial de 120 millones de dólares y posibles pagos por hitos de hasta 2 mil millones de dólares, además de regalías.

El acuerdo está alineado con la estrategia de Madrigal de desarrollar tratamientos combinados para MASH (Esteatohepatitis Asociada a Disfunción Metabólica), basándose en su terapia fundamental Rezdiffra�. Se planea iniciar el desarrollo clínico en la primera mitad de 2026. La combinación busca aprovechar los beneficios del GLP-1 en la pérdida de peso junto con las capacidades de Rezdiffra para reducir fibrosis y lípidos, en una formulación oral de una vez al día.

Madrigal Pharmaceuticals (NASDAQ:MDGL)� CSPC Pharmaceutical Group� SYH2086� 대� � 세계 독점 라이선스 계약� 체결했습니다. SYH2086은 전임� 단계� 경구� GLP-1 수용� 작용제입니다. 이번 계약에는 1� 2천만 달러� 선지급금� 최대 20� 달러� 마일스톤 지급금, 그리� 로열티가 포함되어 있습니다.

� 계약은 Madrigal� MASH(대� 기능 장애 관� 지방간�) 치료� 위한 병용 요법 개발 전략� 일치하며, 그들� 기초 치료제인 Rezdiffra™를 기반으로 합니�. 임상 개발은 2026� 상반�� 시작� 예정입니�. � 병용 요법은 GLP-1� 체중 감량 효과와 Rezdiffra� 섬유� � 지� 감소 효과� 하루 � � 복용하는 경구 제형으로 결합하는 것을 목표� 합니�.

Madrigal Pharmaceuticals (NASDAQ:MDGL) a conclu un accord de licence exclusif mondial avec CSPC Pharmaceutical Group pour SYH2086, un agoniste oral du récepteur GLP-1 en phase préclinique. L'accord prévoit un paiement initial de 120 millions de dollars ainsi que des paiements d'étapes pouvant atteindre 2 milliards de dollars, en plus de redevances.

Ce partenariat s'inscrit dans la stratégie de Madrigal visant à développer des traitements combinés pour la MASH (Stéatohépatite associée à une dysfonction métabolique), en s'appuyant sur leur thérapie de base Rezdiffra�. Le développement clinique devrait débuter au premier semestre 2026. Cette combinaison vise à exploiter les avantages du GLP-1 pour la perte de poids, associés aux capacités de Rezdiffra pour réduire la fibrose et les lipides, dans une formulation orale à prise quotidienne.

Madrigal Pharmaceuticals (NASDAQ:MDGL) hat eine exklusive globale Lizenzvereinbarung mit der CSPC Pharmaceutical Group für SYH2086, einen oralen GLP-1-Rezeptoragonisten in der präklinischen Phase, abgeschlossen. Der Vertrag beinhaltet eine Vorabzahlung von 120 Millionen US-Dollar sowie potenzielle Meilensteinzahlungen von bis zu 2 Milliarden US-Dollar plus Lizenzgebühren.

Die Vereinbarung entspricht Madrigals Strategie, Kombinationsbehandlungen für MASH (Metabolisch bedingte Steatohepatitis) zu entwickeln, basierend auf ihrer Basisterapie Rezdiffra�. Die klinische Entwicklung soll in der ersten Hälfte des Jahres 2026 beginnen. Die Kombination soll die Gewichtsreduktionsvorteile von GLP-1 mit den Fähigkeiten von Rezdiffra zur Reduktion von Fibrose und Lipiden in einer einmal täglich einzunehmenden oralen Formulierung verbinden.

Positive
  • Strategic expansion of pipeline with potential best-in-class oral MASH treatment combination
  • Exclusive global rights secured for promising GLP-1 receptor agonist
  • Clinical synergy potential between Rezdiffra and SYH2086
  • Builds upon successful Rezdiffra launch and extended IP protection through 2044
Negative
  • Significant upfront cost of $120 million plus future milestone payments
  • Development won't begin until first half of 2026
  • SYH2086 still in preclinical stage, indicating long development timeline
  • Subject to regulatory clearance for deal completion

Insights

Madrigal's $120M GLP-1 license strengthens MASH portfolio, creating potential best-in-class combination therapy with existing Rezdiffra treatment.

Madrigal's exclusive licensing of CSPC's oral GLP-1 receptor agonist SYH2086 represents a strategic pipeline expansion that could significantly strengthen the company's position in the MASH (Metabolic dysfunction-associated steatohepatitis) treatment landscape. The deal involves an upfront payment of $120 million with potential milestone payments reaching $2 billion plus royalties.

This acquisition aligns perfectly with Madrigal's strategy to build upon Rezdiffra (resmetirom), their flagship MASH treatment. The clinical rationale is compelling - combining Rezdiffra's fibrosis and lipid reduction benefits with the weight loss effects of a GLP-1 agonist could create a synergistic treatment. Data from the Phase 3 MAESTRO-NASH trial showed that even modest weight loss of 5% or more enhanced Rezdiffra's antifibrotic benefits.

The preclinical status of SYH2086 means commercialization remains years away, with clinical development planned to begin in H1 2026. However, the oral administration route is a key differentiator in a market where many GLP-1 treatments require injection. A once-daily pill combining both mechanisms would offer significant convenience advantages over injectable GLP-1s or multiple-pill regimens.

This deal follows Madrigal's recent extension of Rezdiffra's IP protection through 2044 and progress toward expanding indications to F4c (compensated cirrhosis) and European markets. The transaction is expected to close in Q4 2025, subject to regulatory approval, and includes provisions allowing CSPC to develop other oral GLP-1 agonists in China under certain conditions.

  • License agreement supports Madrigal’s pipeline strategy to develop innovative combination treatments for MASH, anchored by its foundational therapy Rezdiffra� (resmetirom)
  • Combining Rezdiffra with the oral GLP-1, SYH2086, offers potential for a best-in-class MASH treatment in a once-a-day, well-tolerated pill

CONSHOHOCKEN, Pa., July 30, 2025 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) (“Madrigal�) today announced that it has entered into an exclusive global license agreement with CSPC Pharmaceutical Group Limited (HKEX Stock CodeL 1093) (“CSPC�) for SYH2086, a preclinical oral small molecule glucagon-like peptide-1 (GLP-1) receptor agonist and orforglipron derivative. Madrigal plans to initiate clinical development in the first half of 2026.

“We’ve made remarkable progress this year advancing our strategic priorities � from the continued successful launch of Rezdiffra, to securing new IP protection through 2044, to laying the groundwork for Rezdiffra’s next stages of growth in F4c and Europe,� said Bill Sibold, Chief Executive Officer of Madrigal. “This agreement to acquire global rights to SYH2086 aligns perfectly with our long-term goal to extend our leadership in MASH by building a pipeline anchored by Rezdiffra. We believe a combination of Rezdiffra and SYH2086 has the potential to deliver a best-in-class oral treatment for patients with MASH.�

David Soergel, M.D., Chief Medical Officer of Madrigal, added, “The clinical rationale for developing a combination therapy with Rezdiffra and an oral GLP-1 is clear: we want to optimize efficacy and tolerability in MASH by balancing the weight loss from a GLP-1 with the fibrosis and lipid reduction of Rezdiffra in a once-a-day pill. In the pivotal Phase 3 MAESTRO-NASH trial, even modest weight loss of five percent or more enhanced Rezdiffra’s antifibrotic benefit, so we are confident that combination therapy with SYH2086 has the potential to provide increased efficacy for patients with MASH.�

“We are pleased to announce the in-license of our oral GLP-1 by Madrigal, an innovative company that pioneered the first approved treatment for MASH,� said Dongchen Cai, Chairman of the Board, CSPC. “We believe Madrigal’s strong clinical development and commercial capabilities will help unlock the full potential of SYH2086 to benefit patients.�

Financial Considerations
Under the agreement, CSPC has granted Madrigal an exclusive global license to develop, manufacture, and commercialize SYH2086. CSPC will receive an upfront payment of $120 million and is eligible to receive up to $2 billion in milestone payments if certain development, regulatory and commercial milestones are achieved, as well as royalties on net sales. CSPC may develop and commercialize other oral GLP-1 agonists in China subject to certain conditions. The transaction is anticipated to close in the fourth quarter of 2025, subject to the applicable regulatory clearance.

About CSPC Pharmaceutical Group’s SYH2086
SYH2086, a preclinical candidate developed by the CSPC with complete global intellectual property rights, is a novel oral small molecule GLP-1 receptor agonist. GLP-1 receptor agonists are a class of drugs that exert their effects through the GLP-1 receptor and have been developed as treatments for the management of type 2 diabetes and obesity. Their core mechanisms of action include enhancing insulin secretion, suppressing glucagon release, delaying gastric emptying, and reducing appetite, thereby offering both glycemic control and weight loss benefits. Preclinical data demonstrated that SYH2086 exhibited excellent in vitro agonistic activity as well as in vivo glucose-lowering and weight-loss effects, with a linear pharmacokinetic (PK) profile over a wide dose range across multiple animal species, with no significant safety risks observed.

About MASH
Metabolic dysfunction-associated steatohepatitis (MASH), formerly known as nonalcoholic steatohepatitis (NASH), is a serious liver disease that can progress to cirrhosis, liver failure, liver cancer, need for liver transplantation, and premature mortality. MASH is the leading cause of liver transplantation in women and the second leading cause of all liver transplantation in the U.S., and the fastest-growing indication for liver transplantation in Europe.

Once patients progress to MASH with moderate to advanced liver fibrosis (consistent with stages F2 to F3 fibrosis), the risk of adverse liver outcomes increases dramatically: these patients have a 10-17 times higher risk of liver-related mortality as compared to patients without fibrosis. Those who progress to cirrhosis face a 42 times higher risk of liver-related mortality, underscoring the need to treat MASH before complications of cirrhosis develop. MASH is also an independent driver of cardiovascular disease, the leading cause of mortality for patients.

As MASH disease awareness improves and disease prevalence increases, the number of diagnosed patients with MASH with moderate to advanced fibrosis or compensated MASH cirrhosis (F2-F4c) is expected to grow.

About Madrigal
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra is the first and only medication approved by the FDA for the treatment of MASH with moderate to advanced fibrosis (consistent with stages F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (consistent with stage F4c). For more information, visit .

Forward-Looking Statement
This press release includes “forward-looking statements� made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements related to Madrigal’s expected development timelines for SYH2086, the potential benefit of SYH2086 in combination with Rezdiffra, the anticipated timeline to close the licensing transaction and Madrigal’s leadership position in the MASH sector. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to: the assumptions underlying the forward-looking statements; risks related to the parties ability to close the transaction in a timely manner or at all; risks associated with development of early stage candidates; risks related to obtaining and maintaining regulatory approvals, including, but not limited to, potential regulatory delays or rejections; our history of operating losses and the possibility that we may never achieve or maintain profitability; risks associated with meeting the objectives of Madrigal’s clinical trials, including, but not limited to Madrigal’s ability to achieve enrollment objectives concerning patient numbers (including an adequate safety database), outcomes objectives and/or timing objectives for Madrigal’s trials; any delays or failures in enrollment, and the occurrence of adverse safety events; risks related to the effects of Rezdiffra’s (resmetirom’s) mechanism of action; market demand for and acceptance of Rezdiffra; the potential inability to raise sufficient capital to fund ongoing operations as currently planned or to obtain financing on acceptable terms; our ability to service indebtedness and otherwise comply with debt covenants; outcomes or trends from competitive trials; future topline data timing or results; our ability to prevent and/or mitigate cyber-attacks; the timing and outcomes of clinical trials of Rezdiffra (resmetirom); the uncertainties inherent in clinical testing; uncertainties concerning analyses or assessments outside of a controlled clinical trial; and changes in laws and regulations applicable to our business and our ability to comply with such laws and regulations. Undue reliance should not be placed on forward looking statements, which speak only as of the date they are made. Madrigal undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Madrigal’s submissions filed with the U.S. Securities and Exchange Commission(“SEC�), for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Madrigal specifically discusses these risks and uncertainties in greater detail in the sections appearing in Part I, Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 26, 2025, and as updated from time to time by Madrigal’s other filings with the SEC.

Madrigal Pharmaceuticals, Inc.

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FAQ

What is the value of Madrigal Pharmaceuticals' license agreement with CSPC?

The agreement includes an upfront payment of $120 million plus potential milestone payments up to $2 billion and royalties on net sales.

When will Madrigal (MDGL) begin clinical development of SYH2086?

Madrigal plans to initiate clinical development of SYH2086 in the first half of 2026.

What is the strategic importance of SYH2086 for Madrigal Pharmaceuticals?

SYH2086 will be combined with Rezdiffra to potentially create a best-in-class oral treatment for MASH, combining GLP-1's weight loss benefits with Rezdiffra's fibrosis and lipid reduction capabilities.

What are the terms of CSPC's rights under the Madrigal license agreement?

CSPC can develop and commercialize other oral GLP-1 agonists in China subject to certain conditions, while Madrigal has exclusive global rights to develop, manufacture, and commercialize SYH2086.

When is the Madrigal-CSPC license agreement expected to close?

The transaction is anticipated to close in the fourth quarter of 2025, subject to regulatory clearance.
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