Hanmi Partners With Janssen to Develop Diabetes Therapies
Days after signing a diabetes deal with Sanofi for $4.2 billion, South Korea’s Hanmi Pharmaceutical turned around to sign another diabetes deal with Janssen Pharmaceuticals.
Under the agreement, Janssen will acquire global rights, excluding China and Korea, to develop and commercialize oxyntomodulin-based diabetes therapies, including Hanmi’s HM12525A, a biologic GLP-1/glucagon dual receptor agonist to treat diabetes and obesity. It is expected to enter Phase 2 studies next year.
Hanmi will receive an upfront payment of $105 million and up to $810 million in potential milestone payments.
James List, global therapeutic area head of cardiovascular and metabolism at Janssen, says the company entered into the agreement because HM12525A appears “do it all.”
Hanmi’s portfolio includes four diabetes products, including efpeglenatide, a long-acting GLP-1 for which Sanofi acquired global rights, excluding China and Korea.