Hanmi Genentech obesity drug deal worth $2.3B reported

14 sourcesUpdated Aug 24, 2026

Hanmi Pharmaceutical announced an exclusive global licensing deal with Genentech, a Roche subsidiary, for HM17321, a long-acting UCN2 analog aiming at obesity, type 2 diabetes, and cardiovascular disease, with exclusive rights outside South Korea. The deal values the program at up to about $2.3 billion, including a $190 million upfront payment and milestone payments that could total around $2.1 billion, plus post-launch royalties. Genentech will lead development from Phase 2 onward after Hanmi completes the ongoing Phase 1 trial, with UCN2’s mechanism targeting CRF2 rather than the GLP-1 pathway currently dominant in obesity therapies. Hanmi emphasizes HM17321’s potential to promote weight loss while preserving or increasing lean body mass, addressing a key criticism of GLP-1–based treatments. The agreement is subject to U.S. antitrust clearance under the Hart-Scott-Rodino Act and includes protections for Hanmi in case of regulatory or clinical setbacks, while enabling broad global commercialization outside Korea. This marks one of the largest-ever licensing deals by a South Korean biotech company and underscores Hanmi’s strategy to monetize its pipeline through collaborations with major multinational pharmas.

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businesskorea.co.krOtherHanmi Licenses Obesity Drug To Genentech

biopharmaapac.comOtherSouth Korea’s Hanmi Pharm Licenses Obesity Drug HM17321 to Genentech in $2.3B Deal

rttnews.comOtherHanmi, Genentech Ink $2.3 Bln Licensing Deal For Obesity Drug Candidate; Stock Up

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