SEOUL, South Korea, August 24, 2026
Hanmi Pharm announced an exclusive global licensing agreement with Genentech, a member of the Roche Group, for HM17321, a novel investigational therapy being developed for obesity and associated metabolic conditions, including type 2 diabetes and cardiovascular diseases. The agreement covers development, manufacturing and commercialization worldwide, excluding South Korea, and represents a major strategic transaction in the obesity therapeutics market. Under the agreement, Hanmi Pharm will receive a $190 million upfront payment, while the overall transaction could reach approximately $2.3 billion through development, regulatory and commercial milestone payments, in addition to tiered royalties on future net sales. The deal gives Genentech rights to advance the program globally while allowing Hanmi to complete the ongoing Phase 1 clinical trial.
HM17321 Targets Obesity Through a Non-Incretin Mechanism
HM17321 is a proprietary UCN2 (urocortin-2) analog designed around a non-incretin mechanism of action, differentiating it from widely used GLP-1-based obesity treatments. Hanmi is developing the candidate with the goal of achieving weight reduction while preserving lean body mass, reflecting the industry’s growing focus on body composition and broader metabolic health rather than weight loss alone. According to Hanmi, preclinical studies showed quantitative and qualitative improvements in weight reduction when HM17321 was administered both as a monotherapy and in combination with GLP-1-based therapies. The company also believes the peptide-based candidate could potentially support fixed-dose combinations or combination regimens with incretin therapies in future development. These findings remain preclinical, however, and the ability of HM17321 to deliver these proposed benefits in humans will need to be established through clinical development.
Hanmi to Complete Phase 1 Before Genentech Takes Over
The HM17321 clinical program has already moved into human testing following U.S. FDA clearance in November 2025 for a Phase 1 clinical trial. The ongoing study is evaluating safety, tolerability, pharmacokinetics and pharmacodynamics in healthy volunteers and individuals with obesity. Under the new licensing arrangement, Hanmi Pharm will complete the Phase 1 trial, after which Genentech will assume responsibility for development beginning with Phase 2. This transition gives the program a clear development pathway while shifting later-stage global development activities to Genentech. For Hanmi, the agreement provides access to Genentech’s development and commercialization capabilities while validating the strategic potential of its UCN2-based obesity approach. For Genentech and the broader Roche Group, HM17321 adds another investigational mechanism to its expanding cardiometabolic portfolio.
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$2.3 Billion Deal Expands Obesity Drug Pipeline
The $2.3 billion potential transaction highlights the increasing value placed on differentiated obesity therapies as pharmaceutical companies seek alternatives and complementary approaches to existing incretin-based medicines. Hanmi Pharm said the development strategy for HM17321 is aligned with the evolving obesity treatment landscape, where improving body composition, muscle preservation and metabolic health is becoming increasingly important. Genentech will pursue further development of the candidate after Phase 1, with the potential to evaluate HM17321 in broader obesity and metabolic disease populations. While the financial terms provide significant commercial potential for Hanmi, the majority of the headline deal value remains contingent on future development, regulatory and commercial milestones, meaning it is not equivalent to guaranteed revenue. The transaction nevertheless represents a significant global licensing deal in the obesity therapeutics sector and positions HM17321 for further clinical development under Genentech.
Source:Hanmi Pharm, press relese
