Hanmi Pharm signs $2.3 bil. licensing deal with Roche's Genentech for obesity drug candidate

Hanmi Pharm, a Korean pharmaceutical company, said Monday it has signed a 3.2 trillion-won ($2.3 billion) licensing deal with Genentech, a U.S.-based member of the Roche Group, for an obesity drug candidate designed to reduce body fat while preserving and increasing muscle mass.

Hanmi Pharm has signed an exclusive licensing agreement with Genentech for the development, manufacturing and commercialization of its novel metabolic treatment candidate HM17321, a long-acting uro-cortin-2 (UCN2) analog, for obesity and related conditions, including type 2 diabetes, the company said in a press release.

Under the agreement, Genentech will have exclusive rights to research, develop, manufacture and commercialize HM17321 worldwide except in Korea. Hanmi will retain the rights to the drug candidate in Korea, it said.

"By licensing this next-generation investigational therapy with first-in-class potential from Hanmi, Roche and Genentech will pursue a differentiated approach to selectively reduce fat mass while improving both muscle mass and muscle function," Boris L. Zaitra, head of Roche Corporate Business Development, said in the release.

Hanmi Pharm said it will continue its efforts to develop innovative medicines that offer more fundamental and differentiated therapeutic benefits to patients.

In November last year, Hanmi received investigational new drug (IND) clearance from the U.S. Food and Drug Administration (FDA) to begin a Phase 1 clinical trial of HM17321, and the trial is currently underway, the company said.

Hanmi will be responsible for completing the Phase 1 trial, after which Genentech will take over development beginning with Phase 2, it said.