Hanmi licenses obesity drug candidate to Genentech

Hanmi signs licensing deal with Genentech for obesity and metabolic disease candidate HM17321

Total deal value reaches KRW 3.5 trillion... Exclusive license for R&D and commercialization outside Korea

Hanmi Pharm is licensing its internally developed obesity and metabolic disease drug candidate ‘HM17321 (LA-UCN2)’ to Roche Group subsidiary Genentech. The deal value is expected to reach USD 2.305 billion (approximately KRW 3.5 trillion), including an upfront payment of USD 190 million (approximately KRW 260 billion).

Hanmi Pharm announced on the 24th that it had signed an exclusive licensing agreement with Genentech for the research and development, manufacturing, and commercialization of HM17321. The agreement covers all territories worldwide except South Korea.

Under the agreement, Hanmi will receive an upfront payment of USD 190 million (approximately KRW 262.9 billion) from Genentech. It will also be eligible to receive up to an additional USD 2.115 billion in milestone payments tied to clinical development, regulatory approvals, and commercialization. Following the product’s launch, Hanmi will receive tiered royalties based on annual net sales.

HM17321 is a long-acting UCN2 (urocortin-2) analog that selectively activates the CRF2 receptor. Hanmi has been developing the candidate as a therapy that aims to simultaneously reduce body weight and improve body composition through a mechanism distinct from that of existing incretin-based obesity therapies.

Hanmi said preclinical studies showed that HM17321 reduced body weight while preserving or increasing lean body mass. According to the company, HM17321 also demonstrated weight-loss and body-composition benefits when used in combination with GLP-1-based therapies.

Hanmi has therefore said HM17321 may have future potential for use in fixed-dose combination (FDC) products or combination regimens with incretin-based treatments.

HM17321 received approval from the US Food and Drug Administration in November 2025 for its Phase I investigational new drug (IND) application. The ongoing clinical study is evaluating the safety, tolerability, pharmacokinetics, and pharmacodynamics of HM17321 in healthy volunteers and individuals with obesity.

Following completion of the Phase I trial by Hanmi, Genentech will take over development beginning with Phase II. Under the agreement, Genentech obtains exclusive rights to research, develop, manufacture, and commercialize HM17321 worldwide, excluding South Korea.

Hanmi emphasized that HM17321 is being developed as a novel non-incretin approach to obesity treatment. In particular, given that existing obesity treatments can lead to loss of lean body mass along with weight reduction, the candidate is designed to reduce fat mass while preserving or increasing muscle mass.

In-Young Choi, Senior Executive Vice President of Hanmi Pharm, said, "The paradigm of obesity treatment is evolving beyond simple weight reduction toward improving body composition and restoring metabolic health. We are very pleased that the HM17321’s differentiated scientific mechanism and development potential have been recognized by the global market.”

Boris L. Zaïtra, head of Roche Corporate Business Development, said, “By bringing in this next-generation candidate with first-in-class potential from Hanmi Pharm, Roche and Genentech will pursue a differentiated therapeutic strategy that selectively reduces fat mass while improving muscle mass and muscle function.”