Companies: Eli Lilly, Hanmi
Drugs: sonefpeglutide
LLY
Hanmi Signs Licensing Deal with Eli Lilly for Sonefpeglutide, Bolstering GLP-2 Pipeline
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.
Executive Summary
- Hanmi Pharmaceutical inks a major licensing deal with Eli Lilly for its GLP-2 analog sonefpeglutide, securing $75 million upfront and up to $1.185 billion in milestone payments.
- Eli Lilly gains exclusive global rights to develop, manufacture, and commercialize sonefpeglutide, excluding South Korea, where Hanmi retains control.
- Sonefpeglutide is a novel, once-monthly GLP-2 analogue built on Hanmi's proprietary LAPSCOVERY platform, currently in a global Phase 2 trial for short bowel syndrome (SBS).
Market Impact
| Regulatory | high |
|---|---|
| Commercial | high |
| Competitive | medium |
| Investment | high |
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Hanmi Signs Licensing Deal with Eli Lilly for Sonefpeglutide, Bolstering GLP-2 Pipeline
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. The pact instantly inserts Lilly into the GLP-2 space with a long-acting asset primed for expanded trials.
Key Takeaways
- Hanmi Pharmaceutical inks a major licensing deal with Eli Lilly for its GLP-2 analog sonefpeglutide, securing $75 million upfront and up to $1.185 billion in milestone payments.
- Eli Lilly gains exclusive global rights to develop, manufacture, and commercialize sonefpeglutide, excluding South Korea, where Hanmi retains control.
- Sonefpeglutide is a novel, once-monthly GLP-2 analogue built on Hanmi's proprietary LAPSCOVERY platform, currently in a global Phase 2 trial for short bowel syndrome (SBS).
The Development
South Korea's Hanmi Pharmaceutical announced on June 1, 2026 that it has entered into a comprehensive licensing agreement with Eli Lilly. The deal grants Lilly exclusive worldwide rights, excluding Korea, for the development, manufacturing, and commercialization of Hanmi's biologic drug candidate sonefpeglutide (HM15912). The asset is a novel, once-monthly long-acting analogue of GLP-2, built on Hanmi's proprietary LAPSCOVERY platform technology.
The financial terms include an upfront payment of $75 million to Hanmi, with the potential for additional milestone payments reaching up to $1.185 billion, contingent on clinical development and regulatory approvals. Hanmi will also be eligible to receive royalties following product launch. The company is currently conducting a global Phase 2 clinical trial in short bowel syndrome (SBS) and will see that study through to completion. Lilly will then explore additional clinical trials for sonefpeglutide based on accumulated nonclinical and clinical data.
Why Is Lilly Entering the GLP-2 Space?
This licensing agreement represents a calculated strategic move for the Indianapolis drugmaker. Lilly already dominates the GLP-1 receptor agonist market, and acquiring sonefpeglutide gives it a foothold in the related but distinct GLP-2 pathway. GLP-2 promotes intestinal growth, reduces inflammation, and protects and regenerates the intestinal mucosa — mechanisms highly relevant for gastrointestinal conditions like SBS.
For Hanmi, the deal validates its LAPSCOVERY platform. The Seoul-based company is an R&D-focused pharmaceutical company committed to developing globally innovative therapies in areas of high unmet medical need such as obesity/metabolism, oncology, and rare diseases. The influx of non-dilutive capital allows Hanmi to continue funding its pipeline without tapping equity markets.
What Should Pharma Teams Watch Next?
BD teams should monitor Lilly's development strategy for sonefpeglutide beyond SBS. Market entry timelines will hinge on how rapidly Lilly can initiate and complete additional studies after Hanmi wraps up the ongoing Phase 2 trial.
Investors and analysts will track sonefpeglutide's progression through regulatory pathways at the FDA and EMA, as clinical success will unlock the deal's substantial milestone payouts. The agreement also underscores the escalating value of innovative biologic platforms originating from South Korean biotechs, positioning Hanmi as a key player to watch in the global licensing arena.
Frequently Asked Questions
What is the financial scope of the Hanmi-Lilly deal for sonefpeglutide?
Hanmi Pharmaceutical will receive $75 million upfront and is eligible for up to $1.185 billion in milestone payments from Eli Lilly for the licensing of sonefpeglutide, plus royalties following product launch.
Which territories are covered by the licensing agreement?
Eli Lilly has secured exclusive global rights to develop, manufacture, and commercialize sonefpeglutide, with the exception of South Korea, which remains with Hanmi Pharmaceutical.
What is sonefpeglutide and what is its current development status?
Sonefpeglutide (HM15912) is a novel, once-monthly GLP-2 analogue incorporating Hanmi's proprietary LAPSCOVERY platform. Hanmi is currently conducting a global Phase 2 clinical trial in short bowel syndrome (SBS) and will complete that study, after which Lilly will explore additional clinical trials based on the existing nonclinical and clinical data.
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