亞洲 下一代減重藥
下一代減重藥：在 GLP-1 之外，加上 amylin、GIP、升糖素，或改成口服、一個月打一次。
8追蹤資產
0已核准
這個賽道在做什麼
第一代 GLP-1 減重針證明了市場有多大，下一場比賽是「瘦得更多、掉的肌肉更少、更方便」。主要方向有三個：加入 amylin、GIP 或升糖素受體，做成雙重、三重作用；把胜肽改成口服小分子；以及拉長間隔，從每週打一次變成每月一次。中國藥廠有多個候選藥已授權給大藥廠，這也是目前首付款最高的賽道之一。
階段分布
第三期2 2
第二期3 3
第一期3 3
國家分布
中國7 7
韓國1 1
資產表
| 排名 | 資產 | 國際非專利名稱 | 原研公司 | 國家 | 標的 | 機轉 | 最高階段 | 適應症 | 試驗登錄號 | 海外權利人 | 交易日期 | 首付款 | 總額上限 | 最新事件 | 最新事件日期 | 來源 | 來源日期 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 1 2 3 4 5 | 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 | 1 2 3 4 5 | 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 | 1 2 3 4 | 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 | 1 2 3 4 | 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 | 1 2 3 4 | 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 | 1 2 | 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 | 1 2 3 4 | 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 | 1 2 3 | 2026-08-31 |