Hanmi Pharmaceutical headquarters in Seoul (Hanmi Pharmaceutical) Hanmi Pharmaceutical said Monday it has clinched an outlicensing contract with Eli Lilly for sonefpeglutide, its long-acting glucagon-like peptide 2, or GLP-2, drug candidate, in a deal potentially worth up to $1.26 billion.According to the Korean drugmaker, it will receive an upfront payment of $75 million and could earn up to $1.19 billion in additional milestone payments depending on clinical development, regulatory approvals and commercialization. Hanmi Pharmaceutical will also be eligible to receive royalties on future product sales.Under the contract, Eli Lilly obtains exclusive rights to develop, manufacture and commercialize sonefpeglutide worldwide, excluding Korea.Sonefpeglutide was developed using Hanmi’s "Lapscovery" technology, a long-acting platform designed to prolong the duration of drug action. The drugmaker is currently carrying out global clinical trials of five drug candidates that were developed on the Lapscovery platform.Hanmi Pharmaceutical has been studying the therapeutic potential of GLP-2, which is known to promote intestinal growth, reduce inflammation and support the protection and regeneration of intestinal tissue.The company is conducting a global Phase 2 clinical trial of sonefpeglutide for the treatment of short bowel syndrome, a condition in which patients are unable to absorb sufficient nutrients due to the loss or dysfunction of the small intestine. It will continue with the ongoing clinical trial through completion as Eli Lilly plans to carry out additional clinical studies based on existing preclinical and clinical data.“It is very meaningful that Lilly — one of the most closely watched innovators globally — has recognized the development potential for sonefpeglutide” said Lim Ju-hyun, vice chair at Hanmi Pharmaceutical. “Guided by our mission of ‘Respect for People and Value Creation,’ we will continue to advance innovative drug development.”Hanmi Pharmaceutical stock, listed on Korea’s main bourse Kospi, jumped on the back of the outlicensing deal, trading at 523,000 won ($345) per share as of 2 p.m., up 6.52 percent from the previous day’s closing price. An image representing Hanmi Pharmaceutical's Lapscovery technology (Hanmi Pharmaceutical)
Hanmi inks $1.26b licensing deal with Eli Lilly
Hanmi Pharmaceutical said Monday it has clinched an outlicensing contract with Eli Lilly for sonefpeglutide, its long-acting glucagon-like peptide 2, or GLP-2,
TL;DRAI
Hanmi Pharmaceutical has licensed sonefpeglutide, its GLP-2 drug candidate built on the Lapscovery long-acting platform, to Eli Lilly in a deal worth up to $1.26B ($75M upfront, $1.19B in milestones), with Lilly gaining worldwide rights excluding Korea. The deal signals Lilly's continued expansion into the GLP space beyond GLP-1, confirming long-acting peptide platforms as a high-value M&A and licensing target for pharma majors.
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