As global pharmaceutical companies broaden their focus beyond obesity treatments and into rare gastrointestinal disorders, Hanmi Pharmaceutical has secured a major licensing agreement with Eli Lilly worth up to $1.26 billion.
Industry observers view the deal as more than a conventional technology transfer, seeing it as further evidence that competition in GLP-based therapies is expanding into new therapeutic areas, including rare diseases and intestinal disorders.
Hanmi Pharmaceutical announced on June 1 that it had entered into a global licensing agreement with Eli Lilly for sonfipeglutide (LAPS GLP-2 analog), a long-acting biologic candidate being developed for intestinal diseases.
Under the agreement, Lilly will obtain development, manufacturing, and commercialization rights outside South Korea. The total deal value could reach $1.26 billion, including an upfront payment of $75 million and up to $1.185 billion in development, regulatory, and commercial milestone payments. Hanmi will also be eligible to receive royalties on future product sales.
The transaction represents the largest pharmaceutical licensing deal announced by a South Korean biotech or pharmaceutical company so far this year.
GLP Therapies Expand Beyond Obesity
The agreement comes as global drugmakers increasingly seek to leverage GLP-based technologies beyond their highly successful applications in obesity and diabetes treatment.
While GLP-1 therapies have transformed the metabolic disease market, GLP-2 has emerged as a promising target for gastrointestinal disorders due to its role in intestinal growth, nutrient absorption, and mucosal repair.
Sonfipeglutide is being developed for Short Bowel Syndrome (SBS), a rare condition caused by congenital abnormalities or surgical removal of significant portions of the small intestine. Patients often suffer from severe malabsorption and may require long-term parenteral nutrition, creating substantial unmet medical needs.
Industry analysts note that the rare gastrointestinal disease market is attracting increasing attention as demand grows for specialized therapies capable of improving patients' quality of life and reducing long-term treatment burdens.
Lilly Expands Pipeline Beyond Metabolic Diseases
Sonfipeglutide is based on Hanmi’s proprietary LAPSCOVERY platform, a long-acting biologics technology designed to extend drug duration and improve dosing convenience.
The candidate is currently undergoing global Phase 2 clinical trials for Short Bowel Syndrome.
The deal is also being viewed as a validation of Hanmi’s platform technology. Lilly, which has become one of the world's fastest-growing pharmaceutical companies through the success of its obesity and diabetes treatments, has been actively expanding its pipeline into adjacent therapeutic areas, including immunology, metabolic disorders, and rare diseases.
Analysts say Lilly’s decision to acquire rights to sonfipeglutide reflects growing confidence in GLP-2-based therapies and Hanmi’s long-acting biologics expertise.
Hanmi will complete the ongoing Phase 2 study before transferring further development responsibilities to Lilly.
A New Chapter in Hanmi’s Global Licensing Strategy
The agreement marks Hanmi’s first major global licensing transaction since its 2020 deal with Merck & Co. (MSD) involving efinopegdutide, a metabolic disease treatment candidate.
Efinopegdutide is currently approaching key Phase 2b data readouts, and Merck recently highlighted the program as one of its important development assets during an earnings conference call.
Hanmi continues to expand its global footprint through the LAPSCOVERY platform. The company has previously achieved U.S. Food and Drug Administration (FDA) approval for a biologic developed using the technology and currently has five additional global clinical-stage programs based on the same platform.
“Global pharmaceutical companies are increasingly looking beyond obesity treatments toward rare diseases and gastrointestinal disorders,” an industry official said. “This deal demonstrates both the commercial potential of Hanmi’s platform technology and the growing importance of differentiated biologics in the global pharmaceutical market.”
The transaction is expected to boost confidence across South Korea’s biotechnology sector as companies seek to secure global partnerships based on proprietary platforms and innovative drug development technologies.
