Shiyao Group: The company has entered into an exclusive licensing agreement with MADRIGAL for SYH2086, with a prepayment of 120 million dollars.

Shiyao Group announcement, the group has entered into an exclusive licensing agreement with Madrigal Pharmaceuticals, Inc. for the global development, production, and commercialization of the group's oral small molecule glucagon-like peptide-1 receptor agonist SYH2086. It agrees to grant Madrigal exclusive rights to develop, produce, and commercialize SYH2086 globally, while retaining the rights to develop and sell other oral small molecule GLP-1 receptor agonist products in China. The group has the right to receive a total consideration of up to $2.075 billion, including a $120 million upfront payment, up to $1.955 billion in potential development, regulatory, and commercial milestones payments, and double-digit royalties based on annual net sales of SYH2086.