Roche Subsidiary Genentech Licenses Hanmi Obesity Drug for $2.3 Billion

Genentech, a subsidiary of Roche, signed an exclusive licensing agreement with Hanmi Pharmaceutical for the obesity drug candidate HM17321 in a deal potentially worth $2.3 billion. The agreement includes an upfront payment of $190 million, with the remaining value tied to development, regulatory, and commercialization milestones.

Genentech gains exclusive rights to develop, manufacture, and commercialize the drug worldwide, excluding South Korea. HM17321 is a non-incretin Urocortin-2 analog designed to reduce body weight while preserving lean mass, addressing a common limitation in current GLP-1 therapies. Hanmi Pharmaceutical will complete the ongoing Phase 1 clinical trial before Genentech assumes development starting with Phase 2.

Following the announcement, shares of Hanmi Pharmaceutical rose 30 percent to 540,000 won. Boris L. Zaitra, head of Roche corporate business development, stated that the company intends to pursue a differentiated approach to selectively reduce fat mass while improving muscle mass and function. Choi In-young, head of R&D at Hanmi Pharmaceutical, noted that the paradigm of obesity treatment is evolving toward improving body composition and restoring metabolic health.