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Hanmi Pharm Signs $2.31 Billion License Deal for HM17321 with Genentech

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Hanmi Science (KRX:008930) said its unit Hanmi Pharm has signed a $2.31 billion license deal with Genentech, granting an exclusive license to research, develop, manufacture, and commercialize HM17321, a long-acting UCN2 analog, worldwide, excluding South Korea.

Under the deal, Hanmi Pharm will receive $190 million in upfront payments and is eligible for up to $2.12 billion in milestone payments tied to clinical development, regulatory approval, and commercialization, according to a Thursday filing with the Korean Exchange

Hanmi Pharm will also receive tiered royalties based on annual net sales following commercialization, and the deal is subject to applicable administrative procedures and administrative requirements.

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