Roche snags rights to South Korean obesity treatment
Genentech, the Californian subsidiary of Swiss pharmaceutical giant Roche, has secured worldwide rights to develop, manufacture and market an experimental treatment for obesity from the South Korean company Hanmi Pharmaceuticals.
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Roche snags rights to South Korean obesity treatment
The agreement excludes South Korea, Hanmi stated in a press release issued today.
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Hanmi stands to receive a total of $2.3 billion under the agreement, a figure largely contingent upon the achievement of clinical, regulatory and commercial milestones. The initial payment amounts to $190 million.
The product in question – HM17321 – is currently the subject of a Phase I clinical trial, which Hanmi must complete. If all goes well, Genentech will take over for Phase II and subsequent stages of development.
The experimental treatment is based on a mechanism of action different from that of GLP-1-type products, which is expected to promote weight loss whilst preserving muscle mass.
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