Hanmi Pharmaceutical announced that it has signed a licensing agreement with Eli Lilly for the development, manufacturing, and commercialization of its new drug candidate, Sonapeglutide, on June 1.
Sonapeglutide is a new drug candidate utilizing Hanmi's sustained-release platform technology, Labscobery. The company is currently conducting global clinical trials for five other candidates that employ the same platform technology.
Hanmi has focused on the biological effects of glucagon-like peptide-2 (GLP-2), which promotes intestinal growth, reduces inflammation, and protects and regenerates mucosal tissue. The company is currently conducting a global Phase 2 clinical trial for Sonapeglutide targeting short bowel syndrome.
Hanmi plans to complete the ongoing global Phase 2 trial for short bowel syndrome, while Eli Lilly is expected to pursue additional clinical trials based on the preclinical and clinical data for Sonapeglutide. Under the agreement, Eli Lilly will secure exclusive rights for the development, manufacturing, and commercialization of Sonapeglutide worldwide, excluding South Korea.
As part of the agreement, Hanmi will receive an upfront payment of $75 million (approximately 112.9 billion won) from Eli Lilly, with the potential to earn up to $1.185 billion (approximately 1.784 trillion won) in milestone payments based on clinical development, regulatory approval, and commercialization stages. After the product launch, Hanmi will also receive separate royalties.
In the first quarter of this year, Hanmi invested 65.2 billion won, or 16.6% of its revenue, in research and development. The company is advancing over 30 pipeline projects, including the GLP-1 obesity drug, Epeglanatide, which it aims to commercialize within the year. Hanmi Group Vice Chairman Lim Joo-hyun stated, "This agreement recognizes the development potential of Sonapeglutide," adding, "We will continue to pursue our mission of 'respecting humanity and creating value' through innovative drug development."
* This article has been translated by AI.
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