Hanmi Pharmaceutical said it has licensed a next-generation obesity drug candidate — designed to preserve muscle rather than simply cut weight — to Genentech, a subsidiary of Roche. The deal is worth up to about 3.2 trillion won ($2.3 billion), the largest technology-transfer agreement for a single compound between a Korean drugmaker and a global pharmaceutical company.
Hanmi Pharmaceutical said in a regulatory filing on the 24th that it had transferred rights to HM17321, a candidate treatment for metabolic disease, to Genentech. Under the agreement, Genentech gains exclusive rights to develop, manufacture and commercialize the drug worldwide except in Korea. The non-refundable upfront payment totals $190 million (about 262.9 billion won), and the deal is worth up to $2.305 billion (about 3.1892 trillion won) including milestone payments. Hanmi will also receive separate tiered royalties tied to sales after the product launches.
HM17321 is a urocortin-2 (UCN2) analog that works differently from existing treatments in the glucagon-like peptide-1 (GLP-1) class. It is designed to address the loss of lean body mass, including muscle, which is considered a limitation of current obesity treatments. In preclinical trials, both standalone use and combined use with a GLP-1 drug produced weight loss and improvements in body composition. Hanmi has secured approval from the U.S. Food and Drug Administration (FDA) and is conducting a Phase 1 trial in healthy adults and obese patients, evaluating safety, tolerability, pharmacokinetics and pharmacodynamics. After Phase 1 is completed, Genentech will lead subsequent development from Phase 2.
Industry observers said the deal reflects recognition of the value of a differentiated mechanism in a rapidly expanding obesity drug market. According to pharmaceutical market research firm IQVIA, the global market for obesity treatments reached $46 billion (about 64 trillion won) last year and is projected to reach $97.8 billion (about 135 trillion won) by 2034.
Choi In-young, a vice president at Hanmi Pharmaceutical, said obesity treatment is evolving beyond simple weight loss toward improved body composition and restored metabolic health. Choi stressed that the deal represents recognition in the global market of HM17321's differentiated mechanism of action and its development potential.
