Jiangsu Hengrui Pharmaceuticals is one of China's largest drug developers and a growing presence in the global obesity race, often through out-licensing. Its oral small-molecule GLP-1 receptor agonist HRS-7535 (KAI-7535) and injectable GLP-1/GIP dual agonist ribupatide are both licensed to US-based Kailera Therapeutics outside Greater China, a deal that helped fuel Kailera's $625 million IPO in April 2026.
HRS-7535 has moved quickly through Chinese Phase 3 testing. Hengrui reported a Phase 3 win in Chinese type 2 diabetes in June 2026, and on July 7, 2026 Kailera and Hengrui announced topline data from two more Phase 3 trials: HARBOR-1 in obesity, with up to 10.9% weight loss at week 44, and OUTSTAND-2 in type 2 diabetes, showing non-inferiority versus dapagliflozin. Hengrui plans China NDA filings for both indications while Kailera runs parallel global trials.
Stories here follow Hengrui's metabolic readouts and the Kailera partnership. See #kailera, #oral-glp-1, and #obesity.
On July 7, Kailera Therapeutics reported positive topline results from two Hengrui Pharma Phase 3 trials in China of HRS-7535/KAI-7535, a once-daily oral small-molecule GLP-1 receptor agonist licensed to Kailera outside Greater China. In HARBOR-1, 556 adults with obesity or overweight lost a mean 9.5% of body weight at 120 mg and 10.9% at 180 mg by week 44. OUTSTAND-2, in 810 adults with type 2 diabetes, showed HbA1c reductions of 1.50% to 1.68% and non-inferiority versus dapagliflozin. Hengrui plans China NDA filings; Kailera is running a parallel global Phase 2.
Kailera Therapeutics and Hengrui Pharma reported positive topline Phase 3 data from a Chinese T2D trial of HRS-7535, an oral small-molecule GLP-1 receptor agonist licensed to Kailera. Most adverse events were mild-to-moderate GI, with no Grade 3 hypoglycemic events and no liver-safety signal. Hengrui plans to submit a Chinese NDA for HRS-7535 in T2D and will share detailed efficacy data at an upcoming scientific conference. The readout extends the China-led oral-GLP-1 pipeline alongside ribupatide and aleniglipron.
Obesity biotech Kailera Therapeutics priced an upsized IPO of 39.06 million shares at $16, raising $625 million — the largest venture-backed biopharmaceutical IPO since Acelyrin in 2023. Lead candidate ribupatide (a GLP-1/GIP peptide dual agonist) drove 18% body weight loss at 48 weeks in a late-stage Chinese study; global Phase 3 readout expected in 2028.