Hanmi signs record $2.3 bn obesity drug licensing deal

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Hanmi signs record $2.3 bn obesity drug licensing deal

2026.08.25 10:46:29

Hanmi signs record $2.3 bn obesity drug licensing deal

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(Hanmi Pharmaceutical)

Hanmi Pharmaceutical will license its muscle-preserving obesity drug candidate to U.S.-based Genentech, a member of Switzerland’s Roche Group, in a deal worth up to $2.3 billion

The agreement is the largest-ever licensing deal involving a drug candidate transferred by a South Korean pharmaceutical or biotechnology company to a global drugmaker

Hanmi said Monday that it signed an exclusive licensing agreement with Genentech for HM17321, its investigational obesity treatment

Hanmi will receive an upfront payment of $190 million and could receive additional payments tied to clinical development, regulatory approvals and commercialization, bringing the total value of the deal to as much as $2.3 billion. The company will also receive separate royalties on sales following the product’s launch

HM17321 is a potential first-in-class obesity treatment designed to reduce body weight while preserving muscle mass and function

The candidate is currently undergoing a Phase 1 clinical trial. Hanmi will complete the trial, after which Genentech will take the lead in further development

Genentech will hold exclusive rights to develop, manufacture and commercialize HM17321 worldwide, excluding South Korea

The early-stage candidate received a high valuation because of its potential to achieve two outcomes previously considered difficult to deliver simultaneously: preserving muscle mass while selectively reducing fat

GLP-1 obesity drugs such as Wegovy and Mounjaro are highly effective in reducing weight but can lead to the loss of muscle as well as fat

In preclinical studies, Hanmi found that injectable HM17321 reduced weight and improved body composition both as a stand-alone treatment and when administered in combination with GLP-1 therapies

“The paradigm of obesity treatment is evolving beyond simple weight reduction toward improving body composition and restoring metabolic health,” said Choi In-young, senior executive vice president and head of Hanmi’s R&D division. “The differentiated potential of HM17321 has been recognized in the global market.”

The agreement marks Hanmi’s second major technology licensing deal this year