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Hanmi Pharmaceutical signs $2.3 billion obesity drug deal with Genentech
Hanmi Pharmaceutical has secured a major technology export deal with Genentech, a subsidiary of the Roche Group, for its next-generation obesity drug candidate, HM17321. The contract, valued at up to $2.3 billion (approximately 3.5 trillion KRW), includes an upfront payment of $190 million. This agreement marks the largest single-candidate technology transfer in the history of the South Korean pharmaceutical industry.
HM17321 is a non-incretin Urocortin-2 (UCN2) analog designed to target metabolic diseases. Unlike existing GLP-1 based treatments that often lead to muscle loss, HM17321 aims to achieve both weight reduction and muscle preservation. The drug is currently undergoing Phase 1 clinical trials in the United States following FDA approval of its Investigational New Drug (IND) application in late 2023.
Under the terms of the agreement, Genentech holds exclusive rights to the development, manufacturing, and commercialization of HM17321 in all global markets excluding South Korea. Hanmi Pharmaceutical will also receive royalties upon the product's commercial launch. Following the completion of Phase 1 trials, Genentech is expected to lead the subsequent clinical development phases.
Entities
Genentech · HM17321 · Hanmi Pharmaceutical · Roche · South Korea
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] HM17321 aims to achieve both weight loss and muscle preservation, addressing a limitation of existing GLP-1 based obesity treatments. www.thebionews.net · socialvalue.kr · biz.heraldcorp.com · www.newstomato.com
- [● 4 SOURCES] The upfront payment for the deal is $190 million. www.thebionews.net · socialvalue.kr · biz.heraldcorp.com · www.newstomato.com
- [● 4 SOURCES] Genentech has secured exclusive rights for the development, manufacturing, and commercialization of HM17321 in all regions except South Korea. www.thebionews.net · socialvalue.kr · biz.heraldcorp.com · www.newstomato.com
- [● 3 SOURCES] The deal represents the largest technology export for a single drug candidate in South Korean pharmaceutical history. www.thebionews.net · biz.heraldcorp.com · www.newstomato.com
- [● 4 SOURCES] HM17321 is currently undergoing Phase 1 clinical trials following FDA approval of its IND in November 2023. www.thebionews.net · socialvalue.kr · biz.heraldcorp.com · www.newstomato.com
- [● 4 SOURCES] The total contract value is up to $2.3 billion, including clinical development, regulatory approval, and commercialization milestones. www.thebionews.net · socialvalue.kr · biz.heraldcorp.com · www.newstomato.com
- [● 4 SOURCES] Hanmi Pharmaceutical signed an exclusive license agreement with Genentech, a subsidiary of Roche Group, for the metabolic disease drug candidate HM17321. www.thebionews.net · socialvalue.kr · biz.heraldcorp.com · www.newstomato.com
- [● 4 SOURCES] The drug candidate HM17321 is a non-incretin Urocortin-2 (UCN2) analog. www.thebionews.net · socialvalue.kr · biz.heraldcorp.com · www.newstomato.com