Hanmi signs license deal with Janssen

By Yoon Ja-young

Hanmi Pharm President and CEO Lee Gwan-sun

Hanmi Pharmaceutical has signed a 1 trillion won ($915 million) licensing deal to develop diabetes treatments with U.S. drug maker Janssen, the Korean company announced Monday. Hanmi shares soared more than 15 percent.

Hanmi said it had signed a license-out deal on HM12525A, a bio medicine based on oxyntomodulin that it has been developing to treat diabetes.

Janssen will have exclusive rights to develop and commercialize the drug except for Korea and China. It plans to start phase-two clinical tests next year.

Hanmi will meanwhile receive up to $915 million from Janssen for exporting the technology. After commercialization, Hanmi will receive over 10 percent royalties from sales.

“We expect that the cooperation with Janssen, which has vast experience in clinical development and marketing, will provide new treatment for patients suffering from diabetes and obesity as early as possible,” said Hanmi Pharmaceutical CEO Lee Gwan-sun.

The new treatment activates both GLP-1, which affects the secretion of insulin and appetite, and glucagon, which increases energy metabolism. The company said the treatment was based on its technology ― called long-acting protein/peptide discovery, or LAPSCOVERY ― which will enable treatment with only one administration a week.

Announcement of the deal comes only four days after Hanmi’s mega deal with Sanofi, a French drug maker. Hanmi announced last Thursday that it had signed a 5 trillion won license agreement with Sanofi to export its diabetes treatment technology. The deal sent Hanmi shares higher on Friday.

Hanmi has been making headlines with export deals this year, signing a 780 billion won deal with Eli Lilly and an 850 billion won deal with Boehringer Ingelheim.