South Korea’s Hanmi Pharm has signed an exclusive worldwide licensing agreement with Genentech, a member of the Roche Group, for its investigational metabolic therapy HM17321, the company announced on Aug. 24, 2026. The agreement covers development, manufacturing and commercialization for obesity and related conditions, including type 2 diabetes and cardiovascular diseases, but excludes South Korea.
HM17321 is a proprietary urocortin-2 (UCN2) analog with a non-incretin mechanism. Hanmi describes it as a potential first-in-class treatment designed to promote weight loss while preserving lean body mass. Existing glucagon-like peptide-1 (GLP-1) based incretin therapies have demonstrated meaningful weight reduction, but they have been associated with reductions in lean body mass.
Preclinical data and clinical status#
In preclinical studies, HM17321 showed quantitative and qualitative improvements in weight reduction when used alone and in combination with GLP-1-based therapies. Because it is a peptide-based therapeutic, Hanmi said the candidate may also have future potential in fixed-dose combination (FDC) products or combination regimens with incretin-based treatments.
In November 2025, Hanmi received Investigational New Drug (IND) clearance from the U.S. Food and Drug Administration (FDA) to begin a Phase 1 trial. The ongoing study is evaluating safety, tolerability, pharmacokinetics and pharmacodynamics in healthy volunteers and people with obesity.
Hanmi will complete the Phase 1 trial. Genentech will then assume development responsibility beginning with Phase 2 clinical trials.
Executive comment#
In-Young Choi, senior executive vice president and head of Hanmi Pharm’s R&D division, 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 differentiated scientific mechanism and development potential of HM17321 have been recognized by the global market. Hanmi Pharm will continue to dedicate its efforts to developing innovative medicines that can deliver more fundamental and differentiated therapeutic value to patients.”
Boris L. Zaïtra, head of Roche Corporate Business Development, said: “With our growing cardiometabolic pipeline and strong diagnostic expertise, Roche is advancing a portfolio designed to meet the diverse needs of people living with obesity and related health conditions. By licensing this next-generation investigational therapy with first-in-class potential from Hanmi, Roche and Genentech will pursue a differentiated approach to selectively reduce fat mass while improving both muscle mass and muscle function. We look forward to further developing this medicine in order to address important unmet needs for people living with obesity and other metabolic diseases.”
Deal terms#
- Upfront payment to Hanmi: $190 million
- Total potential deal value, including development, regulatory and commercial milestone payments: could reach approximately $2.3 billion
- Hanmi is also eligible for tiered royalties on future product sales after commercialization
