Madrigal in-licenses oral GLP-1 SYH2086 from CSPC for up to $2B in milestones

MADRIGAL PHARMACEUTICALS, INC.

Upfront payment of $120M; potential milestone payments up to $2B plus royalties on net sales.
Madrigal plans to start clinical development for SYH2086 in first half of 2026; deal expected to close Q4 2025.
Aims to combine Rezdiffra (resmetirom) with oral GLP-1 for MASH, citing enhanced antifibrotic benefit with modest weight loss.
CSPC retains rights to develop other oral GLP-1 agonists in China subject to conditions.

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