South Korean pharmaceutical company Hanmi Pharmaceutical Co., which recorded the largest license deals for a South Korean pharmaceutical firm ever with some 5 trillion won (US$4.31 billion) of technology transfers, exported its new medicine technology to a global pharmaceutical company at some 1 trillion won (US$862.81 million) once again.
The company officially announced on Nov. 9 that it has entered into an exclusive license agreement with Janssen Pharmaceuticals, Inc. (Janssen) for the development and commercialization of its new oxyntomodulin-based diabetes-obesity drug, including Hanmi’s HM12525A (LAPSGLP/GCG), at the price of US$915 million (1 trillion won).
Under the agreement, Hanmi will receive an upfront payment of US$105 million (116 billion won) and is also eligible for US$810 million (930 billion won) in development, registration and sales milestones, as well as double-digit royalties on sales.
Beligium-based Janssen will obtain exclusive worldwide rights, except Korea and China, to develop and commercialize HM12525A.
On Nov. 5, the South Korean drug maker reached a landmark license deal with France-based Sanofi, estimated at 5 trillion won (US4.31 billion), to develop “Quantum Project,” a portfolio of experimental, long-acting diabetes treatments. The company made the 1 trillion won (US$862.81 million) deal in four days after this contract again.
HM12525A is a novel dual receptor that activates GLP-1, which helps secreting insulin and suppressing appetite, and Glucagon, which improves metabolism, at the same time. The new drug is intended to be a once-a-week injection for weight loss in obese patients and blood glucose control in some diabetic patients, based on Hanmi’s Long Acting Protein/Peptide Discovery (LAPSCOVERY) platform that extends a half-life for longer medicinal effects.