Johnson and Johnson have entered into an alliance with Hanmi Pharmaceuticals to develop new treatments for diabetes and obesity.
The alliance involves the development and commercialisation of oxyntomodulin-based therapies, including Hanmi’s HM12525A, a novel biologic GLP-1/Glucagon dual receptor agonist to treat diabetes and obesity, which is expected to enter phase II trials next year.
James List, global therapeutic area head of cardiovascular and metabolism and J&J’s Janssen unit, said: “We are very excited about this agreement with Hanmi and the potential of HM1252A to improve therapeutic options for people living with metabolic diseases.
“Our deep scientific expertise and demonstrated clinical development capabilities support our commitment to aggressively develop and launch transformational therapies for patients with cardiovascular and metabolic diseases.
“We look forward to developing this potential best-in-class therapy.”
Under the terms of the agreement J&J will obtain exclusive worldwide rights, except in China and Korea, to develop and commercialise HM12525A.
Hanmi will receive a payment of $105m and is also eligible to receive up to $810m in potential clinical development, regulatory and sales milestones.
Additionally if HM12525A is successfully commercialised, Hanmi would receive double-digit royalty payments.