GC Biopharma, Hanmi Seal Fabry Drug Deal
A collaboration between two leading South Korean pharmaceutical companies has resulted in a global technology export deal worth 630 billion won ($475.00 million). GC Biopharma and Hanmi Pharmaceutical said on Oct. 30 that they had signed an exclusive license agreement with BioMarin Pharmaceutical, a
A partnership between GC Biopharma and Hanmi Pharmaceutical has led to a $475 million global technology export deal. The collaboration focuses on developing LA-GLA, a next-generation treatment for Fabry disease. The exclusive license agreement with BioMarin Pharmaceutical grants GC Biopharma and Hanmi Pharmaceutical an upfront payment of $70 million.
Additional milestone payments could reach up to $405 million, contingent on development and commercialization stages. LA-GLA, a subcutaneous injection therapy, offers an alternative to existing treatments requiring frequent hospital visits. Preclinical studies showed improved efficacy in kidney function, blood vessels, and nervous system indicators.
The drug received Orphan Drug Designation from the FDA in 2024 and is currently in a global Phase 1/2 clinical trial. BioMarin will handle future global development and commercialization, while GC Biopharma and Hanmi Pharmaceutical lead domestic approvals and provide a new treatment option for South Korean patients.
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