Hanmi Pharmaceutical Licenses Out GLP-2 Drug Candidate to Eli Lilly in $1.9 Billion Deal

Transfer of Global Development and Commercialization Rights for Sonepeglutide
Phase 2 Clinical Trial Underway for Short Bowel Syndrome

Hanmi Pharm has signed a license agreement with the U.S. pharmaceutical company Eli Lilly for the global development and commercialization of the GLP-2 (glucagon-like peptide-2)-based new drug candidate, Sonepeglutide.

An image representing Hanmi Pharm's proprietary platform technology Labscovery. Hanmi Pharm

On June 1, Hanmi Pharm announced that it had entered into an agreement to transfer the rights for the development, manufacturing, and commercialization of Sonepeglutide (LAPSGLP-2 analog) to Eli Lilly.

Sonepeglutide is a drug candidate developed using Hanmi Pharm's proprietary long-acting biologics platform technology, Labscovery. Based on the properties of GLP-2, which promotes intestinal growth and protects and regenerates the intestinal mucosa, the drug is currently being developed and is undergoing a global Phase 2 clinical trial for short bowel syndrome.

Under the terms of the agreement, Hanmi Pharm will complete the ongoing global Phase 2 clinical trial for short bowel syndrome. Afterward, Eli Lilly will pursue further clinical development based on the acquired preclinical and clinical data. Eli Lilly has secured exclusive rights to develop, manufacture, and commercialize Sonepeglutide worldwide, except for South Korea.

Hanmi Pharm will receive an upfront payment of $75 million (approximately 112.9 billion won) as part of the agreement. The company may receive up to an additional $1.185 billion (approximately 1.7844 trillion won) based on clinical development, regulatory, and commercialization milestones. After the product launch, Hanmi Pharm will also receive separate sales royalties.

The total contract value, including the upfront payment and milestone payments, amounts to up to $1.26 billion (approximately 1.9 trillion won).

Hanmi Pharm previously obtained U.S. Food and Drug Administration (FDA) marketing approval for a biopharmaceutical developed using the Labscovery platform. The company is currently conducting global clinical trials on five drug candidates utilizing the same platform technology.

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