Hanmi continues partnership spree

Hanmi Pharmaceutical Co. Ltd. (KOSDAQ:128940) granted the Janssen Pharmaceuticals Inc. unit of Johnson & Johnson (NYSE:JNJ) exclusive, worldwide rights outside of China and Korea to develop and commercialize oxyntomodulin-based therapies including HM12525A to treat diabetes and obesity. Hanmi will receive $105 million up front and is eligible for up to $810 million in clinical, regulatory and sales milestones, plus tiered double-digit royalties.

Last week, Hanmi granted Sanofi (Euronext:SAN; NYSE:SNY) exclusive, worldwide rights to a portfolio of long-acting diabetes candidates in exchange for EUR 400 million ($440.6 million) up front and up to EUR 3.5 billion ($3.9 billion) in milestones plus royalties (see BioCentury Extra, Nov. 5). ...