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news.South Korea-based Hanmi Pharmaceutical has signed a license agreement with Janssen Pharmaceuticals to develop a new diabetes and obesity drug.
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Belgium-based Janssen will have an exclusive right to develop and commercialize oxyntomodulin-based therapies including HM12525A outside China and South Korea.
As per the deal, Janssen will make an upfront payment of $105m to Hanmi. The South Korean firm is also eligible for $810m in development, registration and sales milestones, as well as double-digit royalties on sales.
HM12525A is an oxyntomodulin-based therapy (GLP-1/glucagon receptor dual agonist) that improved multiple metabolic parameters, resulting in enhanced blood glucose, body weight, and insulin sensitivity.
Janssen global therapeutic area head for cardiovascular & metabolism James List said: "We are very excited about this agreement with Hanmi and the potential of HM12525A to improve therapeutic options for people living with metabolic diseases.
"We look forward to developing this potential best-in-class therapy, which allows us to build on our success in diabetes and strengthen our metabolism portfolio."
Last week, Sanofi signed a worldwide license agreement with Hanmi Pharmaceutical to develop new diabetes treatments.
About 400 million people worldwide have diabetes, with type 2 accounting for over 90% of cases.