BD按下加速键，“GLP-1双雄”进入新战局

CPHI制药在线2025-06-13

关注并星标CPHI制药在线在6月11日这一天，"GLP-1（胰高血糖素样肽1）双雄"诺和诺德、礼来分别官宣新BD。诺和诺德与生物技术公司Deep Apple Therapeutics达成合作协议，旨在开发针对非肠促胰岛素G蛋白偶联受体（GPCR）靶点的小分子药物，交易总金额约8.12亿美元。礼来则与Juvena Therapeutics达成了一项超6.5亿美元的合作协议，携手开发增肌药物。两家公司...

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Therapeutics达成了一项超6.5亿美元的合作协议，携手开发增肌药物。两家公司将就多靶点展开研究合作，以发现、开发和商业化改善肌肉健康和身体成分的候选药物。今年以来，两家公司均加快了对外BD的步伐，背后折射出寻找下一款重磅药物的焦虑，也体现出在减肥赛道鏖战多年的两家公司，将进入较量新阶段。双雄重金下注AI，赋能下一代减肥药有意思的是，在以上两笔交易中，两家公司均瞄准了AI制药。诺和诺德合作的Deep Apple Therapeutics（以下简称Deep Apple），是一家专注于通过人工智能生成的虚拟库筛选小分子药物的公司，其利用先进的平台技术，建立了一条包括三个肥胖症项目的研发管线。此次合作的GPCR是一种细胞表面受体家族，在许多生命活动中存在着广泛的调节作用。GPCR蛋白家族包括400多个成员，但目前获FDA批准的靶向GPCR的药物，仅涉及其中108个成员，因此GPCR家族仍存在大量未开发的潜在靶标。Deep Apple通过将机器学习驱动的虚拟筛选与冷冻电镜支持的结构生物学相结合，搭建起专有的药物发现平台和优化化合物。基于该平台，Deep Apple可以在12个月甚至更短时间内实现从靶点识别到先导化合物优化，并寻找传统发现方法无法获得的生物靶点信号。针对GPCR靶点，Deep Apple的平台可进一步捕获GPCR和其他不同构象蛋白质的动力学和运动，以揭示与专有虚拟库对接的新\"口袋\"（即结合位点），研发口服小分子药物。此次合作，Deep Apple将使用药物发现平台发现和优化化合物。诺和诺德将获得全球独家权利，以开发、制造和商业化所有适应症的化合物和产品。礼来合作的Juvena Therapeutics（以下简称Juvena）拥有一个集AI筛查、药物发现和开发为一体的平台JuvNET，可从专有的人类干细胞分泌蛋白库中挖掘出具有肌肉保护和再生特性的治疗性蛋白质。据公司资料，该平台可以挖掘人类干细胞分泌的数千种蛋白质，筛选它们恢复组织稳态的潜力，来得到新疾病靶点与候选物的治疗潜力，提高研发准确性等。公司在研管线涵盖减重及代谢、肺和肝纤维化以及骨关节炎等适应症。此次合作，礼来获得了多个肌肉生长相关靶点的独家开发权，并将 Juvena 的干细胞分泌蛋白数据库与机制驱动筛选模型整合进自身创新引擎，同时，Juvena将获得预付款、股权投资、商业化里程碑付款等，总金额高达6.5亿美元。当前，随着GLP-1导致瘦体重下降的结果被越来越多地讨论，开发减脂增肌药物无疑成为下一代减肥药物的努力方向。两家巨头通过连续合作押注，已将减重、代谢赛道的竞争升级。神仙打架，谁更胜一筹诺和诺德和礼来在GLP-1赛道的竞争由来已久。2010年，诺和诺德的每日一次注射给药的GLP-1受体激动剂（GLP-1RA）利拉鲁肽获FDA批准上市，此后数年，一直占据GLP-1赛道主要市场份额。2014年，礼来研发出了一周给药一次的长效GLP-1RA度拉糖肽，2020年，其销售额超过利拉鲁肽卫冕\"GLP-1RA药王\"。很快，度拉糖肽的优势被诺和诺德的司美格鲁肽终结。自上市以来，司美格鲁肽便成为现象级产品，三个版本的司美格鲁肽（Ozempic降糖注射版、Rybelsus降糖口服版、Wegovy减重版），撑起了诺和诺德的业绩。2024年，三款司美格鲁肽收入约合293亿美元，逼近药王K药。2025年一季度，司美格鲁肽业绩已超越K药。不过，风光背后，暗藏危机。自礼来的GIP/GLP-1受体激动剂替尔泊肽在2022年横空出世后，已在多个维度展现出显著优势。它以SURPASS-2和SURMOUNT-5两项头对头研究证实了比司美格鲁肽更优异的降糖和减重获益，因此也逐渐拿到了市场主导权。此前据高盛预测，诺和诺德与礼来将控制80%的减肥药市场，且二者间的比例约为40%和60%。而据2025年一季度财报，礼来在美国GLP-1类药物市场的总处方市占率已飙升至53.5%，已成力压之势。而且在替尔泊肽打开市场后，礼来后续还有一系列接棒产品：信达/礼来的GLP-1R/GCGR激动剂玛仕度肽、小分子GLP-1R激动剂orforglipron、GLP-1R/GIPR/GCGR激动剂retatrutide 等等。为了打造更深护城河，礼来也在积极进行对外合作，近日还与Camurus达成合作，后者授予礼来基于Camurus的FluidCrystal技术，目标直指下一代超长效GLP-1R激动剂产品。礼来的8.7亿美元重金押注点燃了市场，Camurus股价应声暴涨逾40%，资本市场的热烈反响印证了此次合作的战略价值。诺和诺德，积极求变与礼来蒸蒸日上的画面不同，诺和诺德最近有点烦。在王牌产品司美格鲁肽被替尔泊肽碾压后，曾被寄予厚望的下一代注射剂CagriSema的临床试验数据不及预期，使投资者信心一再受挫。除了股价腰斩外，资本更是直接\"炒掉\"CEO--Lars Fruergaard Jørgensen，这位在诺和诺德工作34年、担任CEO 8年的老将，尽管带领诺和诺德到达过巅峰，但最终没能打动投资者。不过，诺和诺德也在积极应对挑战。今年3月，诺和诺德与联邦制药就GLP-1/GIP/GCG三靶点受体激动剂UBT251签订最高20亿美元的许可协议；5月又以最高22亿美金与Septerna达成口服小分子疗法合作协议。近期，诺和诺德还与CVS Caremark（CVS Health的药品福利管理部门，PBM）达成协议，从2025年7月1日起，将诺和诺德的减重药Wegovy列为首选GLP-1类药物，同时将礼来的减重药Zepbound从其标准清单（formulary）中移除。如今，两家巨头均押注AI制药，代谢减重赛道的竞争已升级，为了巩固自己在千亿市场的立足点，二者的博弈还将继续。参考来源：1. Deep Apple Therapeutics Announces Collaboration with Novo Nordisk to Discover and Develop Oral Therapeutics for Cardiometabolic Diseases.2. https://finance.sina.com.cn/stock/hkstock/ggscyd/2025-06-11/doc-ineztmra7738699.shtml.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2543505315","isCrawlerRequest":true}