Hanmi Pharm shares jump 30% on Genentech obesity drug deal

On Monday, Hanmi Pharm's shares surged by 30% after the company signed a licensing deal with Genentech, a subsidiary of Roche Group. The agreement gives Genentech the exclusive rights to develop, manufacture, and sell HM17321, an experimental obesity treatment, globally, with the exception of South Korea. In return, Hanmi will receive an upfront sum of $190 million.

The total value of the transaction could reach up to $2.3 billion, encompassing development, regulatory, and commercial milestones, as well as royalties on future product sales. HM17321 is a UCN2 (urocortin-2) analog that functions through a non-incretin mechanism of action. Described as a potential first-in-class treatment by Hanmi, the drug is designed to facilitate weight loss while maintaining lean body mass.

Preclinical studies revealed that HM17321 led to weight reduction when used alone and in combination with GLP-1-based therapies. This report was AI-generated with editor review.