On 28 September 2026, Zhejiang Sunshine Mandi Pharmaceutical Co., Ltd. ("Sunshine Mandi") and Zhejiang Wansheng Pharmaceutical Co., Ltd. ("Wansheng"), subsidiaries of 3SBio Inc. (HKEX: 01530), announced that they have entered into an exclusive commercialization collaboration with MindRank AI Ltd. ("MindRank") for MDR-001, an AI-designed oral small-molecule GLP-1 receptor agonist independently developed by MindRank, covering Chinese mainland, Hong Kong and Macau. Under the agreements, Sunshine Mandi and Wansheng will provide exclusive integrated and distribution services across all channels for MDR-001 after its launch, and will pay MindRank a collaboration rights payment of up to RMB150 million, comprising an upfront payment and payments upon regulatory approval, first commercial shipment and the addition of new indications, as well as royalty milestone payments of up to RMB1.6 billion upon satisfaction of the agreed conditions, with the potential total transaction value not exceeding RMB1.75 billion. MindRank, as the marketing authorization holder of MDR-001, will retain all rights, titles and interests in the product's intellectual property and will continue to advance its clinical development, registration filing and manufacturing supply.
MDR-001 is an oral small-molecule GLP-1 receptor agonist independently developed by MindRank on the strength of its full-chain AI-driven drug discovery engine, MAP (Molecule Arts Platform), and is being developed for the treatment of obesity and related metabolic diseases. MDR-001 is currently undergoing a pivotal Phase III clinical study in China in adults with obesity or overweight.
Han Kun acted as legal counsel to Sunshine Mandi in this transaction, providing comprehensive legal services throughout the process. The team was led by Yang (Aaron) Gu, with support from a cross-practice legal team comprising Zhaojun (Sophie) Shi, Shipo (Angus) Xie, Yuchen Zhang, Naifang (Bonny) Zhang and Yixi Zhao, and was deeply involved in key stages of the transaction, including the drafting and revision of the agreements. With expertise across life sciences and healthcare transactions, compliance and antitrust, the Han Kun team delivered comprehensive and multi-dimensional legal support to the client, demonstrating Han Kun's outstanding capabilities in handling complex transactions in the life sciences and healthcare sector.
About Sunshine Mandi
Sunshine Mandi is an innovative consumer pharmaceuticals company under 3SBio Inc., focusing on three core tracks: hair volume management, weight management and sleep management, and integrating the research and development, production and sales of pharmaceuticals and consumer products. Its "Mandi" brand has ranked first in retail sales in China's hair growth market for ten consecutive years, with cumulative sales of more than 50 million bottles. Leveraging digital marketing and an omni-channel network, the company is committed to becoming a trusted health management partner for consumers.
About Wansheng
Wansheng is a commercialization platform company under 3SBio Inc., responsible for market promotion, channel distribution and related businesses. Its channels cover an omni-channel marketing network including hospitals, pharmacy chains and e-commerce platforms, providing partner companies with convenient and accessible channel coverage and services. It is a commercial enterprise holding the Good Supply Practice (GSP) certification as well as operating qualifications for pharmaceutical warehousing and logistics distribution.
About MindRank
MindRank is a leading clinical-stage AI-native drug discovery technology company dedicated to empowering drug discovery with machine learning, reinforcement learning and first-principles computation. Leveraging its proprietary one-stop AI platform that deeply integrates biology, structural biology, chemistry and medicine, MindRank is expanding the boundaries of pharmaceutical technology so that more diseases can be treated and more lives can be restored to health.
Han Kun's Life Sciences and Healthcare Practice
Han Kun is widely recognized and well-known for its practice in life sciences and healthcare. In relevant practice areas, we have been continuously ranked as a first-tier law firm by authoritative legal ranking agencies, including Chambers and Partners, The Legal 500, China Business Law Journal, Asialaw Profiles, etc. Han Kun is committed to providing clients with comprehensive legal services in life sciences and healthcare sector, including private equity and venture capital, mergers and acquisitions, onshore and offshore capital market, pharmaceutical license in/out and asset sale/purchase transactions, intellectual property, data protection, compliance and regulatory, and dispute resolution. Han Kun has a dedicated life sciences and healthcare team led by multiple partners and comprised of tens of specialist attorneys. Our partners on the team all have served a broad range of both domestic and foreign clients and developed a deep understanding of industry regulatory requirements and commercial course of dealings. Our associates on the team are graduates from top law schools both in China and abroad, all fluent in Chinese and English and equipped with excellent legal writing skills. Han Kun is well aware of the importance of professional legal services for life sciences and healthcare companies, especially those facing complex legal issues and therefore requiring special legal support. Clients value our teamwork as we fully leverage the expertise and experience of our professionals, all experts in their respective fields. Our goal is always to provide clients with thorough and practical solutions and high-quality legal services.
