Merck and Jiangsu Hengrui Pharmaceuticals (Hengrui Pharma), a global pharmaceutical company focused on scientific and technological innovation, have entered an exclusive license agreement for HRS-5346, an investigational oral small molecule Lipoprotein(a), or Lp(a), inhibitor currently being evaluated in a Phase 2 trial in China in adults with elevated Lp(a) at high risk for cardiovascular events.

Under the agreement, Merck has exclusive rights to develop, manufacture, and commercialize HRS-5346 worldwide, excluding the Greater China region. Hengrui Pharma will receive an upfront payment of $200 million and is eligible to receive milestone payments associated with certain development, regulatory, and commercial milestones up to $1.77 billion, as well as royalties on net sales of HRS-5346.

Dr. Dean Y. Li, president of Merck Research Laboratories, said, “HRS-5346, an investigational oral small molecule inhibitor of Lp(a) formation, is an important addition that expands and complements our cardio-metabolic pipeline.”

The transaction is expected to close in the second quarter of 2025.