Regeneron Pharmaceuticals announced that its licensing partner, China-based Hansoh Pharmaceutical Group, has reported positive Phase III results for olatorepatide, a dual GLP-1/GIP receptor agonist, in adults with obesity or overweight. Participants treated with the once-weekly injectable achieved up to 19% mean body weight loss at 48 weeks, with the company claiming lower gastrointestinal adverse event rates than those seen in other published Phase III dual incretin trials.
Regeneron licensed ex-Greater China rights to olatorepatide (HS-20094) in a deal signed with Hansoh in June 2025. Regeneron put up USD 80 million and committed to up to USD 1.93 billion in milestone payments, and has exclusive rights to develop and commercialize the molecule in all markets outside China.
Trial specifics
Hansoh’s data release derives from a randomized, double-blind, placebo-controlled trial that enrolled 604 adults across 33 sites in mainland China. Participants were randomized to receive once-weekly olatorepatide at 5 mg, 10 mg, or 15 mg, or placebo, over 48 weeks. The trial met both co-primary endpoints: olatorepatide produced a statistically significant reduction in body weight from baseline compared to placebo, and a statistically significant greater proportion of participants achieved at least 5% weight loss at week 48. Average nausea incidence was below 10% and vomiting below 5%, with full data expected at an upcoming medical meeting.
Regeneron’s CSO George D. Yancopoulos indicated that the company’s global Phase III program is expected to be initiated later in 2026.
Research context
Olatorepatide activates both the GLP-1 and GIP receptors, mimicking endogenous incretin hormones to suppress appetite, slow gastric emptying, and enhance glucose-dependent insulin secretion. The addition of GIP receptor agonism to GLP-1 activity is hypothesized to produce additive weight loss effects and may attenuate GLP-1-associated gastrointestinal side effects, a pattern consistent with the reported tolerability profile.
The obesity treatment landscape has transformed since the US FDA approved Eli Lilly’s tirzepatide — also a dual GLP-1/GIP receptor agonist — as Zepbound for chronic weight management in 2023, and Novo Nordisk’s semaglutide as Wegovy in 2021.
The 19% weight loss at 48 weeks places olatorepatide in a range comparable to tirzepatide’s Phase III results at similar timepoints, though cross-trial comparisons carry well-known limitations. The tolerability claims — particularly the low nausea and vomiting rates — could differentiate olatorepatide if confirmed in Regeneron’s global registrational studies with larger, more diverse populations. Whether these results, generated in a Chinese cohort, will translate across geographies remains to be determined by the forthcoming global program.
Olatorepatide enters a competitive field where several mechanisms are under active Phase III investigation.
Other key competitors include:
Eli Lilly’s retatrutide, a triple agonist targeting GLP-1, GIP, and glucagon receptors, currently in Phase III (TRIUMPH program) with Phase II data showing up to 24% weight loss.
Novo Nordisk’s CagriSema (cagrilintide plus semaglutide), combining an amylin analogue with a GLP-1 receptor agonist, in Phase III (REDEFINE program).