Mazdutide (IBI362) by Innovent Biologics: status and timeline

Milestones

Next · Commercial availability in China

DREAMS-1 Phase 3 trial in type 2 diabetes completedJul 2024Complete.
GLORY-2 Phase 3 trial in obesity completedApr 2025Complete.
China NMPA weight management approvalJun 2025Complete.
China NMPA type 2 diabetes approvalSep 2025Complete.
Commercial availability in ChinaTarget 2026Current milestone.
Eli Lilly Phase 3 trials for Western marketsTarget 2026Not yet reached.

Most important updates

Mazdutide approved by China's NMPA for type 2 diabetes as world's first dual GLP-1/glucagon agonistSep 2025
Mazdutide approved by China's NMPA for long-term weight management in adults with obesityJun 2025
DREAMS-1 Phase 3 trial shows superior glycemic control with mazdutide in type 2 diabetesJul 2024

Upcoming

2026Commercial availability in China (next)
2026Eli Lilly Phase 3 trials for Western markets
2027Eli Lilly Phase 3 data (Western markets)
2027Potential FDA or EMA submission

Current obstacles

Glucagon-related adverse eventsBalancing GLP-1 and GCGR activity to minimize nausea and blood glucose changes while maintaining benefit.
Western regulatory approval pathFDA and EMA have not yet approved GCGR agents; Eli Lilly Phase 3 trials will determine acceptability.

Physics limits

Peptide manufacturing complexityInjectable peptides are harder and more expensive to manufacture than small molecules, and require cold-chain storage, limiting global access and scalability.
Dual-receptor selectivity challengesDesigning a molecule that binds two receptors with optimal potency while minimizing off-target effects is chemically difficult and limits further optimization.

How it works

3 parts

GLP-1 receptor activation

Appetite suppression and insulin

GLP-1 reduces hunger and improves insulin secretion—proven obesity mechanism.

Glucagon receptor activation

Energy expenditure boost

GCGR increases metabolic rate, adding energy-spending beyond GLP-1-only agents.

Once-weekly injection

Long-acting peptide formulation

Chemical modifications extend half-life to enable weekly dosing.

Spec sheet

Spec	Mazdutide (IBI362)
Dosing frequency	Once weekly^R (reported)
GLORY-2 weight loss (9 mg, 60 w)	18.55% vs 3.02% placebo^R (reported)
≥20% weight loss (GLORY-2)	44.0% vs 2.6% placebo (60 w)^R (reported)
DREAMS-1 HbA1c (6 mg)	-2.15%^R (reported)
DREAMS-1 weight (6 mg)	-7.81%^R (reported)

^R reported by the company

Papers & demos

2 items

Jun 2025demo
GLORY-2 Phase 3 shows 18.55% weight loss with mazdutide 9 mgConfirms weight loss efficacy in obesity treatment and supports China regulatory approval.
Jul 2024demo
DREAMS-1 Phase 3 shows superior glycemic control and weight loss in type 2 diabetesDual GLP-1/GCGR agonism at 6 mg achieves 2.15% HbA1c reduction and 7.81% weight loss versus dulaglutide.

Update log

3 updates

About Innovent Biologics

The team behind Mazdutide (IBI362)

Innovent Biologics

Mazdutide, GLP-1/GCG agonist, China

Chinese biotech founded 2011, listed on HKEX (1801). Developed mazdutide with Eli Lilly—the world's first dual GLP-1/glucagon agonist. Approved in China June 2025 for weight management, September 2025 for type 2 diabetes.

GLORY-2 Phase 3: mazdutide 9 mg achieved 18.55% weight loss vs 3.02% placebo at 60 weeks.
China approvals: June 2025 (weight management), September 2025 (type 2 diabetes).
Eli Lilly retains global rights outside China; conducting Phase 3 trials for Western markets.

innoventbio.com (opens innoventbio.com)Company profile →

Founded: 201115 yrs
Headquarters: China
Status: Public
Listed: 1801 (opens google.com)HKEX
Valuation: public
Staff: ~7,500Oct 2025
Last round: IPO (Hong Kong) · $421M31 Oct 2018
Works in: BiotechObesity & metabolism
Coverage: 1 program · 5 updateslatest 1 Feb 2026checked 11 Oct
Partners: Eli Lilly and Company (opens lilly.com)
Investors: Hong Kong Exchanges and Clearing Limited (opens hkex.com.hk)
People: Michael YuFounder and Chief Executive Officer

Spec

Mazdutide (IBI362)

Dosing frequency

Once weekly^R (reported)

GLORY-2 weight loss (9 mg, 60 w)

18.55% vs 3.02% placebo^R (reported)

≥20% weight loss (GLORY-2)

44.0% vs 2.6% placebo (60 w)^R (reported)

DREAMS-1 HbA1c (6 mg)

-2.15%^R (reported)

DREAMS-1 weight (6 mg)

-7.81%^R (reported)

Mazdutide (IBI362)

Milestones

Most important updates

Upcoming

Current obstacles

Physics limits

How it works

Appetite suppression and insulin

Energy expenditure boost

Long-acting peptide formulation

Spec sheet

Papers & demos

Update log

Sep 2025

Jun 2025

Jul 2024

About Innovent Biologics

Current obstacles

Physics limits

How it works

Appetite suppression and insulin

Energy expenditure boost

Long-acting peptide formulation

Spec sheet

Papers & demos

Update log

Sep 2025

Jun 2025

Jul 2024

About Innovent Biologics