Hanmi Pharm Signs Exclusive Licensing Deal with Genentech for Obesity Therapy
South Korean Hanmi Pharm has signed an exclusive licensing agreement with Genentech for the development of a novel obesity therapy. The total deal value could reach up to $2.3 billion.
South Korean pharmaceutical company Hanmi Pharm announced it has entered into an exclusive licensing agreement with U.S.-based Genentech for the development of a new obesity therapy.
The agreement centers on Hanmi Pharm's HM17321, a proprietary urocortin-2 (UCN2) analog. The drug is being investigated for the treatment of chronic weight management and associated conditions, including obesity.
The deal, with a potential total value of up to $2.3 billion, includes an upfront payment, milestone payments based on development progress, and tiered royalties on net sales. The agreement grants Genentech the rights to develop and commercialize HM17321 globally.
Completion of the transaction is subject to regulatory approvals. Hanmi Pharm will continue to support the clinical development of the drug as per the agreement's terms.