Hanmi Pharm entered into an exclusive licensing agreement with Genentech, a member of the Roche Group, for the worldwide development, manufacturing, and commercialization of HM17321.

The asset HM17321, Hanmi's novel metabolic treatment candidate, targets obesity and associated conditions such as type 2 diabetes and cardiovascular disease. The agreement provides Genetech global rights for the asset, but excludes South Korea.¹

Under the terms of the deal, Hanmi is set to receive an upfront payment of $190 million from Genentech, including development, regulatory, and commercial milestone payments, with the total value of the agreement holding the potential to reach approximately $2.3 billion.¹ As part of the agreement, Hanmi will also be eligible for tiered royalties on future product sales once HM17321 reaches commercialization, underscoring the scale of confidence both companies are placing in the candidate's long-term potential.¹

"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," Boris L. Zaïtra, head of Roche corporate business development, said. "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.”

What is HM17321?

HM17321 is a proprietary Ucn2 (urocortin-2) analog built on a non-incretin mechanism of action, distinguishing it from the GLP-1-based therapies that currently dominate the obesity treatment landscape.¹ The candidate represents a potential first-in-class treatment designed to simultaneously promote weight loss and preserve lean body mass, a distinction that matters clinically: while existing GLP-1-based incretin therapies have demonstrated meaningful weight reduction, they have also been associated with a reduction in lean body mass, a tradeoff that has drawn increasing scrutiny as the obesity drug class matures.¹

As a peptide-based therapeutic, HM17321 may also carry future potential for use in fixed-dose combination products or combination regimens alongside incretin-based treatments, giving it a possible role as a complement to, rather than strictly a competitor of, the current standard of care.¹

In an article for Pharmaceutical Executive,Thani Jambulingam, PhD, noted the impact of GLP-1 based therapies, writing, "The arrival of GLP-1 receptor agonists and dual agonists has delivered unprecedented efficacy, reframed obesity as a chronic disease, and sparked an industry gold rush."

What have preclinical studies shown?

In preclinical studies, HM17321 demonstrated both quantitative and qualitative improvements in weight reduction, both when used as a monotherapy and when used in combination with GLP-1-based therapies.² Those combination results are central to how Hanmi and Genentech are positioning the candidate, since they suggest HM17321 could enhance outcomes for patients already on incretin-based regimens rather than requiring a wholesale switch in treatment approach.

In November 2025, Hanmi received Investigational New Drug clearance from FDA to initiate a Phase I clinical trial of HM17321, which is now underway and is evaluating the safety, tolerability, pharmacokinetics, and pharmacodynamics of HM17321 in healthy volunteers and in individuals with obesity.²

Under the licensing agreement, Hanmi will remain responsible for completing the Phase I trial, while Genentech will take over development starting with Phase II clinical trials, assuming responsibility for advancing the program through later-stage testing and, ultimately, toward potential commercialization.²

In-Young Choi, senior executive vice president, head of R&D division of Hanmi Pharm, framed the agreement as validation of the company's research direction. "The paradigm of obesity treatment is evolving beyond simple weight reduction toward improving body composition and restoring metabolic health," Choi said. "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."

Sources

1. Hanmi Pharm Signs Exclusive Licensing Deal with Genentech for Novel Obesity Therapy Hanmi Pharm August 24, 2026, https://www.prnewswire.com/news-releases/hanmi-pharm-signs-exclusive-licensing-deal-with-genentech-for-novel-obesity-therapy-302858059.html
2. A Single and Multiple Ascending Dose Study of HM17321 in Healthy and Obese Participants National Library of Medicine May 4, 2026, https://clinicaltrials.gov/study/NCT07219589