Genentech has agreed to license HM17321, a urocortin-2 (UCN2) analog developed by South Korea-based Hanmi Pharm Co., Ltd. (KRX: 128940), in a deal worth up to USD 2.3 billion, including a USD 190 million upfront payment.
The Roche Group company gains exclusive worldwide rights outside South Korea to develop, manufacture, and commercialize the Phase I-stage candidate for obesity and associated conditions, including type 2 diabetes and cardiovascular disease. Hanmi will complete the ongoing Phase I trial before transferring development responsibility to Genentech from Phase II onward. Hanmi is also eligible for development, regulatory, and commercial milestones, plus tiered royalties on net sales.
HM17321 is a long-acting UCN2 analog that activates the CRF2 receptor, providing a non-incretin approach to obesity treatment. Hanmi is developing the candidate using its LAPSCOVERY peptide half-life extension technology. Preclinical studies showed reductions in fat mass while preserving lean mass, both as monotherapy and in combination with GLP-1-based treatments, according to the company. The US FDA cleared an investigational new drug application for HM17321 in November 2025.
The deal adds another mechanism to Roche's expanding obesity portfolio. Roche acquired Carmot Therapeutics for USD 2.7 billion upfront in 2023, gaining a metabolic pipeline that included injectable GLP-1/GIP agonist CT-388 and oral GLP-1 candidate CT-996. In March 2025, Roche agreed to pay Zealand Pharma USD 1.65 billion upfront for a co-development and co-commercialization partnership covering petrelintide, a long-acting amylin analog. HM17321 extends that portfolio into UCN2/CRF2 biology while remaining at an earlier stage of clinical development.