By Fineline Cube Structure Therapeutics Inc. (NASDAQ: GPCR) announced that its wholly‑owned subsidiary, Gasherbrum Bio, entered into a licensing agreement with Genentech Inc. and F. Hoffmann‑La Roche Ltd (Roche) on December 30, 2025. The deal grants Roche non‑exclusive access to specific patents covering oral GLP‑1 receptor agonists for an upfront payment of USD 100 million, plus low single‑digit royalties on net sales of CT‑996, Roche’s oral GLP‑1 candidate.
Transaction Overview
| Item | Detail |
|---|---|
| Licensor | Structure Therapeutics Inc. (via Gasherbrum Bio) |
| Licensees | Genentech Inc. and F. Hoffmann‑La Roche Ltd (Roche) |
| Asset | Patents covering oral GLP‑1 receptor agonists |
| Upfront Payment | USD 100 million |
| Royalties | Low single‑digit on CT‑996 net sales |
| License Type | Non‑exclusive |
| Agreement Date | Dec 30, 2025 (announced Jan 5, 2026) |
Key Deal Terms
Non‑Exclusive License: Structure Therapeutics retains full rights to its internal R&D programs and maintains flexibility to license the IP to other partners in the future.
Patent Covenants: Structure Therapeutics agrees not to assert specific future patent claims against the manufacturing or sale of Roche’s CT‑996 product.
Enforcement Rights: Genentech and Roche do not have the right to lead or execute litigation to enforce the licensed patents; these rights remain exclusively with Structure Therapeutics.
Strategic Context
GLP‑1 Market Dynamics: The global GLP‑1 receptor agonist market is valued at $30 billion (2025) and projected to reach $70 billion by 2030, driven by obesity and diabetes treatments. Oral formulations represent a high‑value segment due to patient convenience.
Roche’s Position: Roche is developing CT‑996 as its entry into the lucrative GLP‑1 space, competing with Eli Lilly’s Mounjaro and Novo Nordisk’s Wegovy. Securing IP rights from Structure Therapeutics de‑risks development and accelerates time‑to‑market.
Structure’s IP Portfolio: The company has built a robust patent estate around oral GLP‑1 receptor agonists, making it a strategic gatekeeper in this competitive field.
Financial Implications
Near‑Term Cash: The $100 million upfront payment provides Structure Therapeutics with non‑dilutive capital to advance its internal pipeline.
Long‑Term Royalties: Low single‑digit royalties on CT‑996 sales could generate $50‑100 million annually once Roche’s product reaches peak sales, assuming $2‑3 billion in global revenues.
Platform Value: The deal validates Structure’s technology platform and may attract additional licensing partners, creating a recurring revenue stream.
Competitive Landscape
| Company | Oral GLP‑1 Asset | Stage | Market Position |
|---|---|---|---|
| Roche/Genentech | CT‑996 | Phase II/III | Development with licensed IP |
| Eli Lilly | Orforglipron | Phase III | First oral small molecule |
| Novo Nordisk | Oral semaglutide | Marketed | Leader in injectables |
| Pfizer | Danuglipron | Discontinued | Competitive pressure |
| Structure Therapeutics | Internal programs | Discovery | IP licensor + developer |
Forward‑Looking Statements
This brief contains forward‑looking statements regarding the deal’s financial impact, Roche’s CT‑996 development timeline, and Structure Therapeutics’ ability to secure additional licensing agreements. Actual results may differ materially due to competitive dynamics, patent enforcement outcomes, and GLP‑1 market evolution.-Fineline Info & Tech