[Getty Images Bank]
[Getty Images Bank]

As GLP-1 obesity drugs such as Wegovy and Mounjaro continue to draw global attention, a new segment is emerging alongside them: localized fat-reduction treatments that target specific body areas rather than overall weight loss.

GC WellBeing announced Sunday that it signed a strategic partnership with Israeli-American biotech firm Raziel Therapeutics on Thursday (local time) at the Westin South Coast Plaza hotel in Costa Mesa, California. Under the agreement, GC WellBeing will handle the commercialization of Raziel's localized obesity treatment candidate, RZL-012, in the South Korean market.

The deal was signed on the sidelines of BIO International Convention 2026 (BIO USA 2026), the world's largest biotech trade show, held in San Diego. Under the terms of the agreement, GC WellBeing secured exclusive domestic licensing rights to Raziel's localized fat-reduction therapy.

GC WellBeing will participate directly in the project as a strategic investor, while five to six major South Korean companies and investment institutions are also expected to join as financial investors.

Raziel is a global biotech venture founded in 2012 and built on Israeli biotechnology. Its lead pipeline asset, RZL-012, is an injectable localized obesity treatment designed to directly eliminate fat cells. The drug leverages its lipophilic properties to selectively bind to adipose tissue and induce fat cell death.

The treatment is injected directly into targeted areas — such as under the chin, the abdomen or the flanks — to reduce fat cells at the site. Unlike GLP-1 obesity drugs, which aim for systemic weight loss, RZL-012 is designed to reshape specific body areas, drawing interest from the aesthetic medicine market as well.

In a recently completed Phase 2b trial, the high-dose group showed a statistically significant reduction in fat compared with the placebo group. A single injection reduced fat by up to 34 percent.

A Phase 3 trial is currently underway in China. Raziel signed a licensing deal worth $74 million (about 120 billion won) with China's Fosun Pharma in 2022 and is targeting a Chinese market launch as early as next year.

The two companies plan to combine innovative technology with commercialization capabilities to pursue the fast-growing global obesity treatment market. Raziel is also pursuing a Nasdaq listing in early next year, backed by Korean investment, and aims to complete a strategic merger or acquisition with a global major pharmaceutical company by 2028.

Industry observers expect the partnership to go beyond a simple technology transfer, serving as a new model for South Korea-Israel biotech cooperation that integrates investment, licensing and commercialization. Kim Hyo-jun, chairman of Future Consulting Group (FCG), and venture capital firm Yozma Group played key roles in identifying the project and structuring the investment framework, according to industry sources.

The signing ceremony was attended by Kim Sang-hyun, CEO of GC WellBeing; Alan Blumenfeld, CEO of Raziel Therapeutics; and FCG Chairman Kim Hyo-jun. GC WellBeing said it also plans to explore expanding its business across the broader Asian market, using South Korea as a springboard.

Industry watchers expect systemic and localized obesity treatments to increasingly complement each other, further diversifying the competitive landscape in the obesity and aesthetic medicine markets.


rainbow@heraldcorp.com