Hanmi Pharm (KRX: 128940) Signed Monday August 24, 2026 an Exclusive Licensing Agreement With Genentech (a Member of the Roche Group) for HM17321, a Proprietary Urocortin-2 (UCN2) Analog Peptide for Obesity That Selectively Activates the Corticotropin-Releasing Factor 2 Receptor (CRFR2), a Mechanism Distinct From the Incretin Pathway Anchoring Every Currently-Approved Obesity Drug (Semaglutide, Tirzepatide, Orforglipron, and the Broader GLP-1 Class); Deal Terms: $190 Million Upfront Payment Plus Up to $2.3 Billion in Development, Regulatory, and Commercial Milestone Payments, Plus Tiered Royalties on Sales; HM17321 Is Positioned as a Potential First-in-Class Treatment Designed to Simultaneously Promote Weight Loss and Preserve Lean Body Mass; Hanmi Received FDA IND Clearance in November 2025 to Initiate a Phase 1 Clinical Trial and Retains Rights in South Korea; Genentech Takes Over From Phase 2 Forward
Hanmi Pharm (KRX: 128940) signed Monday August 24, 2026 an exclusive licensing agreement with Genentech (a member of the Roche Group) for HM17321, a proprietary urocortin-2 (UCN2) analog peptide for obesity. Deal terms: $190 million upfront payment, up to $2.3 billion in development, regulatory, and commercial milestone payments, plus tiered royalties on sales. Territory: Genentech secures global rights excluding South Korea, where Hanmi retains the license. Mechanism: HM17321 selectively activates the corticotropin-releasing factor 2 receptor (CRFR2), a peptide-hormone receptor pathway distinct from the incretin pathway (GLP-1 receptor, GIP receptor) that anchors every currently-approved obesity drug including semaglutide, tirzepatide, orforglipron, and the broader GLP-1 receptor agonist class. Urocortin-2 is a naturally occurring 38-amino-acid peptide of the corticotropin-releasing factor family. Differentiated profile: HM17321 is positioned as a potential first-in-class treatment designed to simultaneously promote weight loss and preserve lean body mass, an important differentiator against the semaglutide-tirzepatide-retatrutide GLP-1 class where roughly 25% of the total weight lost is lean muscle mass. Development pathway: Hanmi received FDA IND clearance to initiate a Phase 1 clinical trial in November 2025. Hanmi is responsible for completing the Phase 1 clinical trial, after which Genentech will take over development starting with Phase 2 clinical trials. The deal represents one of the largest 2026 obesity licensing transactions and adds a substantially different mechanism to Roche's obesity portfolio that also includes CT-388 (dual GIP/GLP-1 agonist from the Carmot Therapeutics acquisition).