Hanmi Signs Licensing Deal with Eli Lilly for Sonefpeglutide, Bolstering GLP-2 Pipeline
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Hanmi Pharmaceutical has announced a significant licensing deal with Eli Lilly for its biologic drug candidate, sonefpeglutide. This agreement grants Lilly global rights, excluding Korea, and includes substantial upfront and milestone payments.
Hanmi Pharmaceutical said on 1 June 2026 that Eli Lilly licensed sonefpeglutide, a long-acting GLP-2 analog. The deal pays $75 million upfront and up to $1.185 billion in milestones, expanding Lilly’s gut-hormone franchise beyond GLP-1 obesity drugs.
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Key Takeaways
- Upfront payment: USD 75 million; additional milestones up to USD 1.185 billion; royalties after launch.
- Lilly gets exclusive global rights excluding Korea for development, manufacturing, and commercialization.
- Sonefpeglutide uses Hanmi’s LAPSCOVERY long-acting platform; Hanmi continues the ongoing global Phase 2 short bowel syndrome trial through completion.
- Registered Phase 2 work includes NCT04775706 (DOLPHINS-2) for SBS with intestinal failure.
What did Hanmi and Lilly announce?
In a PR Newswire release dated June 1, 2026, Hanmi said it entered a license agreement with Eli Lilly for sonefpeglutide (LAPSGLP-2 analog). The asset is a biologic candidate built on Hanmi’s LAPSCOVERY long-acting platform.
Hanmi will finish the ongoing global Phase 2 short bowel syndrome (SBS) trial. Lilly will explore additional clinical trials based on nonclinical and clinical data. Korea rights stay with Hanmi.
How large is the deal economically?
Hanmi will receive USD 75 million upfront. It may receive up to USD 1.185 billion more in clinical development, regulatory approval, and commercialization milestones. Royalties apply after product launch. Media sometimes add upfront plus milestones into a “$1.26 billion” headline; the primary release separates the $75 million cash now from the $1.185 billion contingent pool.
What is the clinical status of sonefpeglutide?
Hanmi describes GLP-2 biology around intestinal growth, inflammation reduction, and mucosal protection. A global Phase 2 SBS program is underway. One listed study is NCT04775706 (DOLPHINS-2). A completed Phase 1 study is registered as NCT04076293.
- Announcement date: June 1, 2026
- Upfront: $75 million
- Milestones: up to $1.185 billion
- Territory: worldwide excluding Korea
- Lead indication in trial: short bowel syndrome
Why does Lilly want a GLP-2 asset?
Lilly already leads parts of the incretin market with GLP-1 medicines. A long-acting GLP-2 expands the company’s gut-hormone map into intestinal failure and related indications. That strategic logic is inference from the deal structure. It is not a clinical efficacy claim for sonefpeglutide versus daily GLP-2 standards.
Hanmi also says it is running other LAPSCOVERY programs in global trials. The Lilly pact validates that platform commercially for at least one rare-disease asset. It does not prove every LAPSCOVERY candidate will clear Phase 2 or 3.
What FDA context matters for SBS drugs?
SBS therapies sit in a rare-disease setting where labeling, orphan designation, and parenteral nutrition endpoints matter. Teams should track future U.S. filings against FDA Drugs communications rather than against secondary deal commentary alone. Endpoint choices for PN volume reduction and safety in catheter-related infection risk will decide how payers score the product later.
What remains unproven?
Phase 2 completion and any Lilly-sponsored expansion studies will decide whether sonefpeglutide can reduce parenteral nutrition dependence with a monthly-style long-acting profile. Milestone totals are contingent. They are not guaranteed cash. Comparative efficacy versus existing GLP-2 products is not established in the June 1 release. Investors should wait for DOLPHINS-2 outcomes and Lilly’s disclosed expansion plans before modeling peak sales.
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Frequently Asked Questions
What are the financial terms of the Hanmi–Lilly sonefpeglutide deal?
Hanmi said it will receive $75 million upfront and may receive up to $1.185 billion in clinical, regulatory, and commercialization milestones, plus royalties after launch.
What rights did Lilly obtain?
Lilly obtained exclusive rights to develop, manufacture, and commercialize sonefpeglutide worldwide, excluding Korea.
What is the lead clinical setting for sonefpeglutide?
Hanmi is running a global Phase 2 program in short bowel syndrome, including DOLPHINS-2 (NCT04775706), and will complete that Phase 2 while Lilly explores additional trials.
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