Menarini licenses Gan & Lee’s biweekly GLP-1 drug for Europe

Italy’s Menarini Group has signed an exclusive licensing agreement with China’s Gan & Lee Pharmaceuticals for European rights to bofanglutide (GZR18), a GLP-1 receptor agonist being developed for adults with overweight or obesity.

The agreement includes a €62 million upfront payment, up to €664 million in development, regulatory and sales milestones, and double-digit royalties on net sales. The potential deal value is €726 million, excluding royalties—reported as approximately $771 million in milestone value or about $840 million in total potential value, depending on the exchange rate and calculation.

Menarini will manage regulatory submissions and commercialization in 39 markets:
the 27 EU member states, the U.K., Switzerland, Norway, Iceland, Liechtenstein and Balkan countries.

Bofanglutide is designed for once-every-two-weeks dosing. Gan & Lee is expected to retain rights for other indications in the licensed territories and plans to conduct the global Phase III program.

The deal gives Menarini a potential entrant into Europe’s rapidly expanding obesity-drug market, but bofanglutide remains investigational and must still demonstrate safety and efficacy and obtain regulatory approval.