Hanmi Pharm signs 3.2 tln-won licensing deal with Roche's Genentech for obesity drug candidate

South Korean pharmaceutical firm Hanmi Pharm. has entered into a 3.2 trillion-won ($2.3 billion) licensing agreement with Genentech, a subsidiary of the Roche Group, for an obesity drug candidate. The innovative therapy, known as HM17321, is a long-acting analog of uro-cortin-2 (UCN2) which aims to reduce body fat while maintaining and enhancing muscle mass. This long-acting drug candidate is intended to treat obesity and related conditions like type 2 diabetes.

Under the exclusive licensing agreement, Genentech will have the sole rights to research, develop, manufacture and commercialize HM17321 globally, with the exception of South Korea where Hanmi Pharm retains ownership. According to Boris L. Zaitra, head of Roche Corporate Business Development, this partnership aims to offer a unique approach to targeting fat mass reduction while simultaneously improving muscle mass and muscle function.

Hanmi Pharm has been actively pursuing the development of innovative medicines that provide more fundamental and differentiating therapeutic benefits for patients. In November of last year, the company received Investigational New Drug (IND) clearance from the U.S. Food and Drug Administration (FDA), allowing it to begin a Phase 1 clinical trial of HM17321, which is currently in progress. Once the Phase 1 trial is completed, Hanmi will hand over the development process to Genentech, starting with Phase 2.