Hanmi Pharm Signs $2.3 Billion Licensing Deal with Genentech for Obesity Drug Candidate
2 sources · South Korea · 1 of them is linked to a state
Who reported this
- Yonhap
- The Korea Herald
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
- A hatched block means the outlet is affiliated with, or controlled by, a state.
Political lean describes where an outlet sits within the politics of its own country. It is never a position on a single global scale.
Political lean is comparable inside one country and not across them, which is why the bar groups by country first. Publicly funded broadcasters are not marked as state-linked.
The owner of each outlet is listed as a matter of record, not as a judgement about the outlet.
Every source for this story reports from South Korea.
Hanmi Pharmaceutical announced on Monday that it has signed an exclusive licensing agreement with Genentech, a U.S. based member of the Roche Group, for its obesity drug candidate HM17321. The deal is valued at up to 3.2 trillion won, or approximately 2.3 billion U.S. dollars, including development, regulatory, and commercialization milestones. Under the terms of the agreement, Genentech will receive exclusive rights to research, develop, manufacture, and commercialize the drug worldwide, except in South Korea, where Hanmi will retain the rights.
HM17321 is a long acting uro-cortin-2 (UCN2) analog designed to treat obesity and related conditions, such as type 2 diabetes. The drug aims to provide a differentiated approach by selectively reducing body fat while preserving or increasing muscle mass and function. This distinguishes it from GLP-1 based therapies, which have been noted for causing reductions in lean body mass. Hanmi Pharmaceutical stated that preclinical studies showed promising results for the candidate both as a standalone treatment and in combination with GLP-1 therapies.
Hanmi received investigational new drug clearance from the U.S. Food and Drug Administration in November of last year and is currently conducting a Phase 1 clinical trial. Hanmi will be responsible for completing this initial phase, after which Genentech will take over development starting with Phase 2 trials. Following the announcement, shares of Hanmi Pharmaceutical on the Kopsi bourse rose by 30 percent to close at 540,000 won.
How each side framed it
- Centre
- The center outlet focused on the contractual terms and the clinical development timeline.
- Centre-right
- The center-right outlet emphasized the record-breaking financial nature of the deal and its impact on the company's stock price.
Sources
100% of the statements in this article were traced back to the source articles listed above.