The deal reaffirms the global competitiveness of Hanmi's LAPSCOVERY platform and marks a new milestone for Korean biotech. Hanmi secures $75 million in non-refundable upfront payments, with Lilly taking the lead after the completion of a Phase 2 trial for short bowel syndrome. The U.S. pharma giant gains exclusive worldwide rights outside South Korea across metabolic and rare disease indications.

Hanmi Pharmaceutical headquarters. [Hanmi Pharmaceutical]
Hanmi Pharmaceutical headquarters. [Hanmi Pharmaceutical]

Hanmi Pharmaceutical has sealed a multibillion-won technology licensing deal with Eli Lilly, the global leader in obesity and metabolic disease treatments, again demonstrating the strength of Korean biotech on the world stage.

Hanmi said Sunday it signed a license agreement with Lilly covering the development, manufacturing and commercialization of its proprietary biotech drug candidate sonepeglutide, also known by its project name LAPSGLP-2 analog.

Under the agreement, Lilly gains exclusive rights to develop, manufacture and commercialize sonepeglutide worldwide, excluding South Korea.

The deal is valued at up to $1.26 billion (about 1.9 trillion won) in upfront payments and milestone fees combined. Hanmi will first receive a non-refundable upfront payment of $75 million, with up to an additional $1.185 billion tied to global clinical development, regulatory approval and commercialization milestones. Running royalties linked to global sales after commercialization will be paid separately and are not included in the deal value.

At the heart of sonepeglutide is LAPSCOVERY, Hanmi's proprietary drug-duration extension platform technology.

Hanmi has already demonstrated the platform's commercial viability — a biotech drug based on the same technology has received U.S. Food and Drug Administration approval — and five additional drug candidates using the platform are currently in global clinical trials.

Lilly's decision to invest heavily in Hanmi's platform stems from the strong biological efficacy of glucagon-like peptide-2, or GLP-2.

Hanmi has shown through preclinical research that GLP-2 promotes intestinal growth, reduces inflammation, and protects and regenerates the intestinal mucosa. The company is currently conducting a global Phase 2 trial targeting short bowel syndrome, a rare disease.

Under the terms of the agreement, Hanmi will lead the ongoing global Phase 2 trial through completion, after which Lilly will take over and drive subsequent trials aimed at expanding the drug into multiple indications based on the accumulated data.

"It is deeply meaningful that Lilly, one of the world's leading innovators, has recognized the development potential of sonepeglutide," said Lim Joo-hyun, vice chairwoman of Hanmi Group. "We will continue to fulfill Hanmi Pharmaceutical's mission of respect for people and value creation on the global stage through the development of innovative new drugs."


silverpaper@heraldcorp.com