08:03 AM EDT, 06/02/2025 (MT Newswires) -- Regeneron Pharmaceuticals ( REGN ) said Monday that it agreed with Hansoh Pharmaceutical Group to develop and commercialize the GLP-1 receptor agonist HS-20094 outside of mainland China, Hong Kong, and Macau.

The drug, currently in phase 3 trials for obesity and phase 2 study for diabetes, has shown promising efficacy and safety profiles in clinical studies.

Under the agreement, Regeneron said it will pay Hansoh Pharmaceuticals an upfront fee of $80 million, with additional milestone payments up to $1.93 billion.

Hansoh Pharmaceuticals will also receive low double-digit royalties on global net sales outside the designated territories, Regeneron said.

The agreement is subject to customary closing conditions, including applicable regulatory agency clearances under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in the United States, the company added.