GC Wellbeing CEO Kim Sang-hyun (left) and Raziel Therapeutics CEO Alon Bloomenfeld pose for a photo after signing a license-in agreement at The Westin South Coast Plaza in Costa Mesa, California, on June 25. (GC Wellbeing) GC Wellbeing said Monday it has signed a license-in agreement with Israeli biotech company Raziel Therapeutics to commercialize its next-generation localized fat-dissolving injectable treatment in Korea.Under the agreement, GC Wellbeing obtained exclusive rights to develop and market the candidate in Korea. The drug is currently being prepared for a Phase 3 clinical trial in the United States after completing discussions with the US Food and Drug Administration on the trial designThe deal is expected to strengthen the company's aesthetics business alongside its portfolio of non-reimbursed pharmaceuticals and its distribution of Mounjaro, a GLP-1 obesity treatment.Unlike conventional fat-dissolving injections, which are primarily used to reduce submental fat beneath the chin, Raziel's investigational therapy is being developed to target localized fat in multiple body areas, including the abdomen, flanks and upper arms.According to Raziel, the treatment is differentiated by its potential to eliminate fat cells at the injection site with a single administration. In a US Phase 2 trial, the therapy showed efficacy and safety after a single treatment. A Phase 3 trial is planned for later this year.The companies expect strong market growth, driven in part by the expanding use of GLP-1 obesity drugs. The global body-contouring market is projected to grow from about 3 trillion won ($1.9 billion) in 2025 to around 10 trillion won by 2034, as demand for post-weight-loss body-shaping procedures rises.Alongside the licensing deal, GC Wellbeing also made a strategic equity investment in Raziel Therapeutics to strengthen collaboration on both Korean and global commercialization efforts.“While strengthening our competitiveness in the rapidly expanding body contouring market, we plan to accelerate domestic clinical development and regulatory approval in line with the global development schedule,” said GC Wellbeing CEO Kim Sang-hyun.