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Innovent BiologicsChina-based biopharma. Mazdutide (dual GCG/GLP-1) approved by China NMPA June 2025 for chronic weight management; first dual GCG/GLP-1 agonist globally. Partnership with Eli Lilly.
| Trial / Milestone | Indication / Phase | Enrollment + Readout Status |
|---|---|---|
| Phase 1 SAD/MAD | Healthy volunteers + obesity | 2018-2020 readouts; dose-related pharmacokinetics + initial weight reduction demonstrated; supported Phase 2 advancement (Innovent in China; Eli Lilly retains rights outside China) |
| Phase 2 obesity (China) | Phase 2 obesity | ~248 patients; 2022 readout demonstrated up to ~11.3% weight loss at 24 weeks (6mg); dose-related GI tolerability broadly consistent with other dual GLP-1/glucagon agonists; supported GLORY-1 design + dose selection |
| GLORY-1 (Phase 3 obesity, China registrational) | Phase 3 obesity; >600 patients | First participant dosed November 2022; 48-week topline announced January 2024: 14.8% mean weight loss at the 6mg weekly dose vs 0.5% placebo (published in NEJM May 2025); NDA submitted to China NMPA February 2024; approved June 2025 |
| GLORY-2 (Phase 3 obesity, 9mg) | Phase 3 obesity (9mg dose) | Met its primary + all key secondary endpoints with up to 20.1% weight loss in Chinese adults with obesity; supports a 9mg supplementary application to the NMPA for the moderate-to-severe obesity population |
| DREAMS-1 / -2 / -3 (Phase 3 type 2 diabetes) | Phase 3 type 2 diabetes | Phase 3 T2D registrational program: DREAMS-1 (non-inferiority to dulaglutide 1.5mg on HbA1c at 28 weeks; 4mg + 6mg doses), DREAMS-2 (superiority to dulaglutide on glycemic control + weight loss), and DREAMS-3 (head-to-head superiority versus semaglutide); supported the China type 2 diabetes approval in 2025 |
| China NMPA approval (obesity) | June 27, 2025 | Mazdutide approved for chronic weight management, the world's first dual GCG/GLP-1 receptor agonist approved for weight loss, ahead of Boehringer's survodutide (Phase 3) + Altimmune's pemvidutide (Phase 2b/3). A separate NMPA approval for type 2 diabetes glycemic control followed later in 2025 |
| Eli Lilly-Innovent licensing economics | Deal terms | Innovent holds China rights to mazdutide; Eli Lilly retains rights outside China under the 2019 licensing agreement; deal economics include upfront + milestone payments + royalties from Innovent to Lilly on China commercial sales; specifics not fully disclosed |
| Editorial. Why Innovent matters | Strategic context | Innovent is the leading Chinese biotech with an approved domestic GLP-1 commercial-stage program. Mazdutide's June 2025 China approval establishes a domestic alternative to Novo Nordisk semaglutide + Eli Lilly tirzepatide in Greater China. Innovent's commercial execution + NRDL (National Reimbursement Drug List) inclusion outcome shapes the GLP-1 China-share equation through 2027-2028. Because Lilly retains rights outside China, mazdutide will not compete with tirzepatide in US/EU markets, simplifying the commercial dynamics |
2020-2024
$1801.HK
Mazdutide (dual GCG/GLP-1, approved by China NMPA June 2025 for chronic weight management, the first dual GCG/GLP-1 agonist globally). Partnership with Eli Lilly.