{
  "as_of": "2026-11-03",
  "track": "obesity-next",
  "source_url": "https://drugnews.com.tw/en/asia-obesity-next-leaders.html",
  "headers": [
    "rank",
    "asset",
    "inn",
    "originator",
    "country",
    "target",
    "mechanism",
    "highest_stage",
    "indications",
    "trial_ids",
    "overseas_rights_holder",
    "deal_date",
    "upfront",
    "total_value",
    "latest_event",
    "latest_event_date",
    "source_urls",
    "source_date"
  ],
  "rows": [
    [
      "1",
      "VCT220 / CX11",
      "—",
      "Vincentage Pharma Co., Ltd. (Chengdu Vincentage)",
      "China",
      "GLP-1 receptor",
      "Once-daily oral non-peptide small-molecule GLP-1R agonist",
      "Phase 3 — China (2024-12)",
      "Obesity/overweight; type 2 diabetes",
      "NCT06939296 | NCT07011797",
      "Corxel Pharmaceuticals (worldwide excluding Greater China)",
      "2024-12-23",
      "Not disclosed",
      "Not disclosed",
      "China pivotal Phase 3 registry updated; completed",
      "2026-09-16",
      "https://www.globenewswire.com/news-release/2026/05/18/3296404/0/en/vincentage-pharma-reports-positive-top-line-results-from-pivotal-phase-3-trial-of-vct220-in-obese-or-overweight-chinese-adults.html | https://www.vincentage.com/ | https://clinicaltrials.gov/study/NCT06939296 | https://clinicaltrials.gov/study/NCT07011797 | https://www.corxelbio.com/en/press-releases/corxel-acquires-worldwide-excluding-greater-china-rights-to-an-oral-small-molecule-glp-1-ra-for-the-treatment-of-obesity-and-diabetes/",
      "2026-09-16"
    ],
    [
      "2",
      "RAY1225",
      "—",
      "Guangdong Raynovent Biotech Co., Ltd. (Zhongsheng subsidiary)",
      "China",
      "GLP-1 receptor; GIP receptor",
      "Long-acting dual GLP-1R / GIPR peptide agonist",
      "Phase 3 — China (2025-06)",
      "Obesity/overweight; type 2 diabetes",
      "NCT06893016 | NCT06254274",
      "Qilu Pharmaceutical Co., Ltd. (Greater China)",
      "2026-01-16 (Greater China only)",
      "RMB 200m (Greater China only)",
      "RMB 1000m (including upfront; Greater China only)",
      "Type 2 diabetes Phase 2 registry updated; completed",
      "2026-10-26",
      "https://static.cninfo.com.cn/finalpage/2025-06-20/1223935424.PDF | https://static.cninfo.com.cn/finalpage/2026-04-29/1225234198.PDF | https://clinicaltrials.gov/study/NCT06893016 | https://clinicaltrials.gov/study/NCT06254274 | https://epaper.stcn.com/att/202601/17/ZQ17B023-MM_eBook.pdf",
      "2026-10-26"
    ],
    [
      "3",
      "HEC88473 / APL-18881",
      "—",
      "Sunshine Lake Pharma Co., Ltd.",
      "China",
      "GLP-1 receptor; FGF21 receptor pathway",
      "Long-acting GLP-1 / FGF21 dual-target fusion protein",
      "Phase 2 — China (2023-12)",
      "Type 2 diabetes; obesity development; polycystic ovary syndrome study",
      "NCT06148649 | NCT07616037",
      "Apollo Therapeutics (outside China; China rights retained by Sunshine Lake)",
      "2024-11-12",
      "USD 12m",
      "USD 938m (USD 12m upfront + up to USD 926m milestones)",
      "Investigator-initiated Phase 2 PCOS trial registry updated; recruiting",
      "2026-05-29",
      "https://www.hkexnews.hk/listedco/listconews/sehk/2026/0331/2026033101355.pdf | https://www.apollotx.com/news/apollo-therapeutics-signs-exclusive-ex-china-license-from-sunshine-lake-pharma-for-clinical-stage-fgf21-glp-1-dual-receptor-agonist/ | https://clinicaltrials.gov/study/NCT06148649 | https://clinicaltrials.gov/study/NCT07616037",
      "2026-05-29"
    ],
    [
      "4",
      "SAL0112",
      "—",
      "Shenzhen Salubris Pharmaceuticals Co., Ltd.",
      "China",
      "GLP-1 receptor",
      "Oral small-molecule GLP-1 receptor agonist",
      "Phase 2 — China (confirmed 2024-10; T2DM)",
      "Type 2 diabetes (Phase 2); obesity (Phase 1b completed)",
      "CTR20242666",
      "None reported",
      "—",
      "—",
      "—",
      "Salubris interim report retains SAL0112 in its diabetes/obesity pipeline",
      "2026-08-25",
      "https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-08-25/e7124904-d321-447f-8131-044f0872c304.PDF | https://www.salubris.com/en/NewsUpdates/info_itemid_3285.html | https://static.cninfo.com.cn/finalpage/2024-10-22/1221451312.PDF | https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0612/2026061200083.pdf",
      "2026-08-25"
    ],
    [
      "5",
      "SYH2069",
      "—",
      "CSPC Pharmaceutical Group (CSPC Ouyi Pharmaceutical)",
      "China",
      "GLP-1 receptor; GIP receptor",
      "Long-acting fatty acid-modified dual-biased GLP-1R / GIPR peptide agonist",
      "Phase 2 — China (registered 2026-09; not yet recruiting)",
      "Obesity/overweight; type 2 diabetes",
      "NCT07803991 | NCT07796477",
      "None reported",
      "—",
      "—",
      "—",
      "Obesity Phase 2 registry first posted; not yet recruiting",
      "2026-09-04",
      "https://doc.irasia.com/listco/hk/cspc/announcement/a260828.pdf | https://en.e-cspc.com/media/contact-us/ | https://clinicaltrials.gov/study/NCT07803991 | https://clinicaltrials.gov/study/NCT07796477",
      "2026-09-04"
    ],
    [
      "6",
      "HM17321 (LA-UCN2)",
      "—",
      "Hanmi Pharmaceutical Co., Ltd.",
      "South Korea",
      "Corticotropin-releasing factor receptor 2 (CRFR2)",
      "Long-acting urocortin-2 analogue; non-incretin CRFR2 agonist",
      "Phase 1 — United States (2025-11)",
      "Obesity; body-composition and lean-mass-preservation development",
      "NCT07219589",
      "Genentech / Roche (worldwide excluding South Korea)",
      "2026-08-24",
      "USD 190m",
      "Up to USD 2300m (including upfront; plus tiered royalties)",
      "Hanmi announces Genentech licence excluding South Korea",
      "2026-08-24",
      "https://www.hanmipharm.com/about/investor-relations/press/detail-4843.hm | https://clinicaltrials.gov/study/NCT07219589",
      "2026-08-24"
    ],
    [
      "7",
      "JMT206",
      "—",
      "CSPC Pharmaceutical Group (Shanghai JMT-Bio Inc.)",
      "China",
      "Activin receptor type IIA; activin receptor type IIB",
      "Recombinant fully human anti-ActRIIA / ActRIIB monoclonal antibody",
      "Phase 1 — China (2026-01)",
      "Obesity/overweight; muscle-building and fat-reduction development",
      "NCT07419698 | NCT07840729",
      "None reported",
      "—",
      "—",
      "—",
      "Obesity multiple-dose Phase 1 registry updated; recruiting",
      "2026-11-02",
      "https://doc.irasia.com/listco/hk/cspc/announcement/a260929a.pdf | https://en.e-cspc.com/media/contact-us/ | https://clinicaltrials.gov/study/NCT07419698 | https://clinicaltrials.gov/study/NCT07840729",
      "2026-11-02"
    ],
    [
      "8",
      "SYH2092",
      "—",
      "CSPC Pharmaceutical Group (CSPC Jushi Biopharmaceutical)",
      "China",
      "Amylin receptor",
      "Long-acting fatty acid-modified amylin receptor agonist",
      "Phase 1 — China (registered 2026-08; not yet recruiting)",
      "Obesity/overweight development; healthy-participant first-in-human trial",
      "NCT07776041",
      "None reported",
      "—",
      "—",
      "—",
      "Company announces China first Phase 1 centre initiated; recruitment and screening underway",
      "2026-08-31",
      "https://doc.irasia.com/listco/hk/cspc/announcement/a260831.pdf | https://en.e-cspc.com/media/contact-us/ | https://clinicaltrials.gov/study/NCT07776041",
      "2026-08-31"
    ]
  ],
  "row_sources": [
    [
      {
        "url": "https://www.globenewswire.com/news-release/2026/05/18/3296404/0/en/vincentage-pharma-reports-positive-top-line-results-from-pivotal-phase-3-trial-of-vct220-in-obese-or-overweight-chinese-adults.html",
        "source_date": "2026-09-16"
      },
      {
        "url": "https://www.vincentage.com/",
        "source_date": "2026-09-16"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT06939296",
        "source_date": "2026-09-16"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT07011797",
        "source_date": "2026-09-16"
      },
      {
        "url": "https://www.corxelbio.com/en/press-releases/corxel-acquires-worldwide-excluding-greater-china-rights-to-an-oral-small-molecule-glp-1-ra-for-the-treatment-of-obesity-and-diabetes/",
        "source_date": "2026-09-16"
      }
    ],
    [
      {
        "url": "https://static.cninfo.com.cn/finalpage/2025-06-20/1223935424.PDF",
        "source_date": "2026-10-26"
      },
      {
        "url": "https://static.cninfo.com.cn/finalpage/2026-04-29/1225234198.PDF",
        "source_date": "2026-10-26"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT06893016",
        "source_date": "2026-10-26"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT06254274",
        "source_date": "2026-10-26"
      },
      {
        "url": "https://epaper.stcn.com/att/202601/17/ZQ17B023-MM_eBook.pdf",
        "source_date": "2026-10-26"
      }
    ],
    [
      {
        "url": "https://www.hkexnews.hk/listedco/listconews/sehk/2026/0331/2026033101355.pdf",
        "source_date": "2026-05-29"
      },
      {
        "url": "https://www.apollotx.com/news/apollo-therapeutics-signs-exclusive-ex-china-license-from-sunshine-lake-pharma-for-clinical-stage-fgf21-glp-1-dual-receptor-agonist/",
        "source_date": "2026-05-29"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT06148649",
        "source_date": "2026-05-29"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT07616037",
        "source_date": "2026-05-29"
      }
    ],
    [
      {
        "url": "https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-08-25/e7124904-d321-447f-8131-044f0872c304.PDF",
        "source_date": "2026-08-25"
      },
      {
        "url": "https://www.salubris.com/en/NewsUpdates/info_itemid_3285.html",
        "source_date": "2026-08-25"
      },
      {
        "url": "https://static.cninfo.com.cn/finalpage/2024-10-22/1221451312.PDF",
        "source_date": "2026-08-25"
      },
      {
        "url": "https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0612/2026061200083.pdf",
        "source_date": "2026-08-25"
      }
    ],
    [
      {
        "url": "https://doc.irasia.com/listco/hk/cspc/announcement/a260828.pdf",
        "source_date": "2026-09-04"
      },
      {
        "url": "https://en.e-cspc.com/media/contact-us/",
        "source_date": "2026-09-04"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT07803991",
        "source_date": "2026-09-04"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT07796477",
        "source_date": "2026-09-04"
      }
    ],
    [
      {
        "url": "https://www.hanmipharm.com/about/investor-relations/press/detail-4843.hm",
        "source_date": "2026-08-24"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT07219589",
        "source_date": "2026-08-24"
      }
    ],
    [
      {
        "url": "https://doc.irasia.com/listco/hk/cspc/announcement/a260929a.pdf",
        "source_date": "2026-11-02"
      },
      {
        "url": "https://en.e-cspc.com/media/contact-us/",
        "source_date": "2026-11-02"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT07419698",
        "source_date": "2026-11-02"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT07840729",
        "source_date": "2026-11-02"
      }
    ],
    [
      {
        "url": "https://doc.irasia.com/listco/hk/cspc/announcement/a260831.pdf",
        "source_date": "2026-08-31"
      },
      {
        "url": "https://en.e-cspc.com/media/contact-us/",
        "source_date": "2026-08-31"
      },
      {
        "url": "https://clinicaltrials.gov/study/NCT07776041",
        "source_date": "2026-08-31"
      }
    ]
  ],
  "records": [
    {
      "rank": "1",
      "asset": "VCT220 / CX11",
      "inn": "—",
      "originator": "Vincentage Pharma Co., Ltd. (Chengdu Vincentage)",
      "country": "China",
      "target": "GLP-1 receptor",
      "mechanism": "Once-daily oral non-peptide small-molecule GLP-1R agonist",
      "highest_stage": "Phase 3 — China (2024-12)",
      "indications": "Obesity/overweight; type 2 diabetes",
      "trial_ids": "NCT06939296 | NCT07011797",
      "overseas_rights_holder": "Corxel Pharmaceuticals (worldwide excluding Greater China)",
      "deal_date": "2024-12-23",
      "upfront": "Not disclosed",
      "total_value": "Not disclosed",
      "latest_event": "China pivotal Phase 3 registry updated; completed",
      "latest_event_date": "2026-09-16",
      "source_urls": "https://www.globenewswire.com/news-release/2026/05/18/3296404/0/en/vincentage-pharma-reports-positive-top-line-results-from-pivotal-phase-3-trial-of-vct220-in-obese-or-overweight-chinese-adults.html | https://www.vincentage.com/ | https://clinicaltrials.gov/study/NCT06939296 | https://clinicaltrials.gov/study/NCT07011797 | https://www.corxelbio.com/en/press-releases/corxel-acquires-worldwide-excluding-greater-china-rights-to-an-oral-small-molecule-glp-1-ra-for-the-treatment-of-obesity-and-diabetes/",
      "source_date": "2026-09-16"
    },
    {
      "rank": "2",
      "asset": "RAY1225",
      "inn": "—",
      "originator": "Guangdong Raynovent Biotech Co., Ltd. (Zhongsheng subsidiary)",
      "country": "China",
      "target": "GLP-1 receptor; GIP receptor",
      "mechanism": "Long-acting dual GLP-1R / GIPR peptide agonist",
      "highest_stage": "Phase 3 — China (2025-06)",
      "indications": "Obesity/overweight; type 2 diabetes",
      "trial_ids": "NCT06893016 | NCT06254274",
      "overseas_rights_holder": "Qilu Pharmaceutical Co., Ltd. (Greater China)",
      "deal_date": "2026-01-16 (Greater China only)",
      "upfront": "RMB 200m (Greater China only)",
      "total_value": "RMB 1000m (including upfront; Greater China only)",
      "latest_event": "Type 2 diabetes Phase 2 registry updated; completed",
      "latest_event_date": "2026-10-26",
      "source_urls": "https://static.cninfo.com.cn/finalpage/2025-06-20/1223935424.PDF | https://static.cninfo.com.cn/finalpage/2026-04-29/1225234198.PDF | https://clinicaltrials.gov/study/NCT06893016 | https://clinicaltrials.gov/study/NCT06254274 | https://epaper.stcn.com/att/202601/17/ZQ17B023-MM_eBook.pdf",
      "source_date": "2026-10-26"
    },
    {
      "rank": "3",
      "asset": "HEC88473 / APL-18881",
      "inn": "—",
      "originator": "Sunshine Lake Pharma Co., Ltd.",
      "country": "China",
      "target": "GLP-1 receptor; FGF21 receptor pathway",
      "mechanism": "Long-acting GLP-1 / FGF21 dual-target fusion protein",
      "highest_stage": "Phase 2 — China (2023-12)",
      "indications": "Type 2 diabetes; obesity development; polycystic ovary syndrome study",
      "trial_ids": "NCT06148649 | NCT07616037",
      "overseas_rights_holder": "Apollo Therapeutics (outside China; China rights retained by Sunshine Lake)",
      "deal_date": "2024-11-12",
      "upfront": "USD 12m",
      "total_value": "USD 938m (USD 12m upfront + up to USD 926m milestones)",
      "latest_event": "Investigator-initiated Phase 2 PCOS trial registry updated; recruiting",
      "latest_event_date": "2026-05-29",
      "source_urls": "https://www.hkexnews.hk/listedco/listconews/sehk/2026/0331/2026033101355.pdf | https://www.apollotx.com/news/apollo-therapeutics-signs-exclusive-ex-china-license-from-sunshine-lake-pharma-for-clinical-stage-fgf21-glp-1-dual-receptor-agonist/ | https://clinicaltrials.gov/study/NCT06148649 | https://clinicaltrials.gov/study/NCT07616037",
      "source_date": "2026-05-29"
    },
    {
      "rank": "4",
      "asset": "SAL0112",
      "inn": "—",
      "originator": "Shenzhen Salubris Pharmaceuticals Co., Ltd.",
      "country": "China",
      "target": "GLP-1 receptor",
      "mechanism": "Oral small-molecule GLP-1 receptor agonist",
      "highest_stage": "Phase 2 — China (confirmed 2024-10; T2DM)",
      "indications": "Type 2 diabetes (Phase 2); obesity (Phase 1b completed)",
      "trial_ids": "CTR20242666",
      "overseas_rights_holder": "None reported",
      "deal_date": "—",
      "upfront": "—",
      "total_value": "—",
      "latest_event": "Salubris interim report retains SAL0112 in its diabetes/obesity pipeline",
      "latest_event_date": "2026-08-25",
      "source_urls": "https://disc.static.szse.cn/download/disc/disk03/finalpage/2026-08-25/e7124904-d321-447f-8131-044f0872c304.PDF | https://www.salubris.com/en/NewsUpdates/info_itemid_3285.html | https://static.cninfo.com.cn/finalpage/2024-10-22/1221451312.PDF | https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0612/2026061200083.pdf",
      "source_date": "2026-08-25"
    },
    {
      "rank": "5",
      "asset": "SYH2069",
      "inn": "—",
      "originator": "CSPC Pharmaceutical Group (CSPC Ouyi Pharmaceutical)",
      "country": "China",
      "target": "GLP-1 receptor; GIP receptor",
      "mechanism": "Long-acting fatty acid-modified dual-biased GLP-1R / GIPR peptide agonist",
      "highest_stage": "Phase 2 — China (registered 2026-09; not yet recruiting)",
      "indications": "Obesity/overweight; type 2 diabetes",
      "trial_ids": "NCT07803991 | NCT07796477",
      "overseas_rights_holder": "None reported",
      "deal_date": "—",
      "upfront": "—",
      "total_value": "—",
      "latest_event": "Obesity Phase 2 registry first posted; not yet recruiting",
      "latest_event_date": "2026-09-04",
      "source_urls": "https://doc.irasia.com/listco/hk/cspc/announcement/a260828.pdf | https://en.e-cspc.com/media/contact-us/ | https://clinicaltrials.gov/study/NCT07803991 | https://clinicaltrials.gov/study/NCT07796477",
      "source_date": "2026-09-04"
    },
    {
      "rank": "6",
      "asset": "HM17321 (LA-UCN2)",
      "inn": "—",
      "originator": "Hanmi Pharmaceutical Co., Ltd.",
      "country": "South Korea",
      "target": "Corticotropin-releasing factor receptor 2 (CRFR2)",
      "mechanism": "Long-acting urocortin-2 analogue; non-incretin CRFR2 agonist",
      "highest_stage": "Phase 1 — United States (2025-11)",
      "indications": "Obesity; body-composition and lean-mass-preservation development",
      "trial_ids": "NCT07219589",
      "overseas_rights_holder": "Genentech / Roche (worldwide excluding South Korea)",
      "deal_date": "2026-08-24",
      "upfront": "USD 190m",
      "total_value": "Up to USD 2300m (including upfront; plus tiered royalties)",
      "latest_event": "Hanmi announces Genentech licence excluding South Korea",
      "latest_event_date": "2026-08-24",
      "source_urls": "https://www.hanmipharm.com/about/investor-relations/press/detail-4843.hm | https://clinicaltrials.gov/study/NCT07219589",
      "source_date": "2026-08-24"
    },
    {
      "rank": "7",
      "asset": "JMT206",
      "inn": "—",
      "originator": "CSPC Pharmaceutical Group (Shanghai JMT-Bio Inc.)",
      "country": "China",
      "target": "Activin receptor type IIA; activin receptor type IIB",
      "mechanism": "Recombinant fully human anti-ActRIIA / ActRIIB monoclonal antibody",
      "highest_stage": "Phase 1 — China (2026-01)",
      "indications": "Obesity/overweight; muscle-building and fat-reduction development",
      "trial_ids": "NCT07419698 | NCT07840729",
      "overseas_rights_holder": "None reported",
      "deal_date": "—",
      "upfront": "—",
      "total_value": "—",
      "latest_event": "Obesity multiple-dose Phase 1 registry updated; recruiting",
      "latest_event_date": "2026-11-02",
      "source_urls": "https://doc.irasia.com/listco/hk/cspc/announcement/a260929a.pdf | https://en.e-cspc.com/media/contact-us/ | https://clinicaltrials.gov/study/NCT07419698 | https://clinicaltrials.gov/study/NCT07840729",
      "source_date": "2026-11-02"
    },
    {
      "rank": "8",
      "asset": "SYH2092",
      "inn": "—",
      "originator": "CSPC Pharmaceutical Group (CSPC Jushi Biopharmaceutical)",
      "country": "China",
      "target": "Amylin receptor",
      "mechanism": "Long-acting fatty acid-modified amylin receptor agonist",
      "highest_stage": "Phase 1 — China (registered 2026-08; not yet recruiting)",
      "indications": "Obesity/overweight development; healthy-participant first-in-human trial",
      "trial_ids": "NCT07776041",
      "overseas_rights_holder": "None reported",
      "deal_date": "—",
      "upfront": "—",
      "total_value": "—",
      "latest_event": "Company announces China first Phase 1 centre initiated; recruitment and screening underway",
      "latest_event_date": "2026-08-31",
      "source_urls": "https://doc.irasia.com/listco/hk/cspc/announcement/a260831.pdf | https://en.e-cspc.com/media/contact-us/ | https://clinicaltrials.gov/study/NCT07776041",
      "source_date": "2026-08-31"
    }
  ]
}