Pharma BD Deal Intelligence

Madrigal Pharmaceuticals / CSPC Pharmaceutical Group Ltd.

2025 · Licensing/Option · $2.1B · Complete

Madrigal Pharmaceuticals entered an exclusive global license agreement with CSPC Pharmaceutical Group for SYH2086, a preclinical oral small-molecule GLP-1 receptor agonist. CSPC receives $120 million upfront and is eligible for up to $2 billion in development, regulatory and commercial milestone payments plus royalties. The license supports Madrigal's strategy of building combination MASH regimens anchored by Rezdiffra (resmetirom); Madrigal planned to initiate clinical development in H1 2026. The transaction was expected to close in Q4 2025 subject to regulatory clearance.

Key facts

• Announced Jul 30, 2025
• Deal value $2.1B
• Deal type Licensing/Option
• Therapeutic area Metabolic, Hepatology
• Indications Metabolic dysfunction-associated steatohepatitis (MASH), Obesity
• Key assets SYH2086
• Mechanism Oral small molecule GLP-1 receptor agonist

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