Hanmi Pharm has clinched its largest technology export deal for a new drug candidate in 12 years, with observers crediting the company's unwavering commitment to research-and-development-centered management — a philosophy that held firm even through years of ownership disputes that began in 2020.
According to Hanmi, the company signed a technology licensing agreement Monday with Genentech, a subsidiary of Switzerland's Roche Group, covering HM17321 (a UCN2 analogue), an innovative new drug candidate targeting metabolic diseases including obesity, type 2 diabetes and cardiovascular conditions.
The deal is valued at up to $2.3 billion, with an upfront payment of $190 million. It is the largest single-compound deal in the company's history. For comparison, Hanmi signed a license-out agreement with Sanofi in November 2015 for three diabetes drug candidates under the so-called Quantum Project, in a deal worth 3.9 billion euros ($4.55 billion) — equivalent at the time to about 4.8 trillion won.
The latest deal thus surpasses in scale the achievements of the late founder Im Sung-ki, who died in August 2020. Im left behind a firm conviction that "a pharmaceutical company that does not invest in R&D is a dead company." After his death, a bitter dispute erupted among family members over how to fund inheritance taxes.
Throughout that turmoil, those inside and outside the company credit his eldest daughter, Vice Chairwoman Im Ju-hyun, with keeping Hanmi's core competitive strength — its R&D capabilities — from being shaken. She is said to have not only driven R&D efforts forward but also set the direction for new drug development projects.
The technology export centers on HM17321, one of the key pipelines within Hanmi's obesity and metabolic disease innovation project known as HOP (Hanmi Obesity Pipeline). HOP aims to build a full-cycle obesity treatment solution that goes beyond simple weight loss to encompass body composition improvement, muscle preservation and enhancement, improved medication convenience, and long-term weight maintenance. The project currently operates six candidate compounds — centered on efpeglenatide, HM15275, HM17321 and HM500197 — and aims to chart a new course in obesity treatment.
Even after the ownership dispute formally ended, internal tensions are said to have persisted. Im is also reported to have faced sustained pressure from a group of major shareholders to halt certain development programs.
Amid all this, the deal has been seen as a fresh validation of Hanmi's competitiveness, after Eli Lilly assessed the development potential and differentiation of sonefeglutide highly enough to proceed with the technology in-licensing.
Industry observers view the agreement as more than a straightforward technology export — they see it as global recognition of Hanmi's metabolic disease-focused research and development strategy and the direction of the HOP project.
"Even after the founder's passing, Vice Chairwoman Im worked behind the scenes to support employees so they could focus solely on their work, and shielded them from outside pressures," a Hanmi Pharm official said.
freiheit@heraldcorp.com
