AsianScientist (Nov. 24, 2015) – Sanofi and South Korea-headquartered Hanmi Pharmaceutical Co., Ltd. entered a worldwide license agreement to develop a portfolio of experimental, long-acting diabetes treatments on November 5, 2015.
Under the agreement, Hanmi will receive an upfront payment of €400 million and is eligible for up to €3.5 billion in development, registration and sales milestones, as well as double digit royalties on net sales. Sanofi will obtain an exclusive worldwide license to develop and commercialize three products: efpeglenatide, a late-stage long-acting glucagon-like peptide-1 receptor agonists (GLP1-RA); a weekly insulin; and a fixed-dosed weekly GLP-1-RA/insulin drug combination.
Collectively, the therapeutic offerings are known as the ‘Quantum Project’ utilizing Hanmi’s proprietary Long Acting Protein/Peptide Discovery Platform (LAPSCOVERY) technology, which prolongs the duration of action of biologics. The objective is to minimize the frequency of treatment and the dose required, thereby potentially lowering the adverse event rates and optimizing efficacy, according to Hanmi.
The agreement to develop the three investigational diabetes medicines confirms Sanofi’s long-term commitment to people with the disease, according to Mr. Pascale Witz, Executive Vice President, Sanofi, who will lead the Global Diabetes and Cardiovascular Care Business Unit in the company’s new organizational structure.
“We now have the opportunity to expand our existing portfolio by including medicines that are administered weekly as well as daily, which could extend our reach in basal insulin and expand our GLP-1-RA and GLP-RA/insulin combination prospects. In these ways, we aim to complement our current offerings and work to serve a broader patient population,” said Witz.
“We are pleased that Sanofi with its long heritage and as a proven leader with solid track of success in diabetes, has recognized the value of Hanmi’s Quantum Project,” said Dr. Lee Gwan Sun, CEO/President of Hanmi Pharmaceutical, adding that his company was excited for the possibilities the initiative could offer to people with diabetes.
Hanmi will retain an exclusive option to co-commercialize the products in Korea and China. The agreement is subject to customary closing conditions including review under the Hart-Scott-Rodino Antitrust Improvements Act.
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Source: Sanofi; Photo: Andreas Rueda/Flickr/CC.
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