Hanmi Pharmaceutical, a leading Korean drugmaker, announced a significant outlicensing agreement with global pharmaceutical giant Eli Lilly for its innovative long-acting glucagon-like peptide 2 (GLP-2) drug candidate, sonefpeglutide. This landmark deal has a potential value reaching up to $1.26 billion, underscoring the promising therapeutic potential of sonefpeglutide.
Under the terms of the agreement, Hanmi Pharmaceutical will receive an upfront payment of $75 million. The company is also eligible for additional milestone payments, potentially totaling up to $1.19 billion, contingent upon the successful achievement of various clinical development stages, regulatory approvals, and commercialization milestones. Furthermore, Hanmi Pharmaceutical will benefit from royalties on future worldwide product sales of sonefpeglutide, bolstering its long-term revenue streams.
This strategic partnership grants Eli Lilly exclusive global rights to develop, manufacture, and commercialize sonefpeglutide across all territories, with the sole exception of Korea, where Hanmi Pharmaceutical retains rights.
Sonefpeglutide was developed leveraging Hanmi’s proprietary “Lapscovery” technology, an advanced long-acting platform specifically engineered to extend the duration of drug action within the body. Hanmi Pharmaceutical continues to advance its pipeline, currently conducting global clinical trials for five distinct drug candidates that utilize this innovative Lapscovery platform.
Hanmi Pharmaceutical has dedicated extensive research to exploring the diverse therapeutic capabilities of GLP-2. This peptide is recognized for its crucial role in promoting intestinal growth, effectively reducing inflammation, and actively supporting the protection and regeneration of intestinal tissues, making it a promising target for various gastrointestinal conditions.
Currently, Hanmi Pharmaceutical is progressing a global Phase 2 clinical trial for sonefpeglutide, specifically targeting the treatment of short bowel syndrome (SBS). This debilitating condition affects patients who struggle to absorb sufficient nutrients due to significant loss or dysfunction of their small intestine. Hanmi Pharmaceutical will continue to oversee the completion of this ongoing clinical trial, with Eli Lilly planning to initiate further extensive clinical studies based on the compelling existing preclinical and clinical data gathered for sonefpeglutide.
Lim Ju-hyun, Vice Chair at Hanmi Pharmaceutical, emphasized the significance of the collaboration, stating, “It is very meaningful that Lilly — one of the most closely watched innovators globally — has recognized the development potential for sonefpeglutide.” She added, “Guided by our mission of ‘Respect for People and Value Creation,’ we will continue to advance innovative drug development.”
Following the announcement of this high-profile outlicensing deal, Hanmi Pharmaceutical’s stock, traded on Korea’s main bourse Kospi, experienced a significant surge. Shares were trading at 523,000 won ($345) per share as of 2 p.m., reflecting a robust increase of 6.52 percent from the previous day’s closing price, highlighting investor confidence in the deal’s future prospects.
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