Madrigal pens $2B pact for CSPC’s preclinical GLP-1 with eye on Rezdiffra MASH pairing

(Jul 30, 2025) by James Waldron.

Summary

Madrigal Pharmaceuticals is paying $120 million upfront for a preclinical GLP-1 receptor agonist that the biopharma plans to pair up with its approved fatty liver disease med Rezdiffra

The GLP-1 drug, dubbed SYH2086, has been developed by China’s CSPC Pharmaceutical. Preclinical data have “exhibited excellent in vitro agonistic activity as well as in vivo glucose-lowering and weight-loss effects, with a linear pharmacokinetic profile over a wide dose range across multiple animal species, with no significant safety risks observed,” according to Madrigal’s July 30 release.

The idea is that SYH2086 can be paired with Rezdiffra, a selective thyroid hormone receptor agonist that became the first FDA-approved drug for metabolic dysfunction-associated steatohepatitis (MASH) last year. Since then, the drug has beaten analyst expectations by bringing in $137 million in sales for the first quarter of 2025.