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The Korea Herald
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THE INVESTOR
March 29, 2024

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Hanmi Pharma to pay US$157m to Sanofi for new diabetes drug trials

  • PUBLISHED :March 03, 2017 - 16:46
  • UPDATED :March 03, 2017 - 16:46
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[THE INVESTOR] South Korean drug maker Hanmi Pharmaceutical is expected to spend up to 150 million euros (US$157.8 million) for the late-stage clinical study on its new long-acting diabetes treatment, which will be jointly conducted with Sanofi, according to the company’s regulatory filing on Feb. 3.

In December 2016, Sanofi altered some part of the worldwide license agreement that it signed with Hanmi Pharmaceutical a year earlier to develop three investigational diabetes treatments, including a drug called efpeglenatide, a week-lasting insulin. 




Under the new modified contract, Hanmi is “liable to pay 25 percent of the clinical study spending for efpeglenatide each quarter that Sanofi will spend in the future with an upper limit of 150 million euros,” the filing reveled.

The phase 3 clinical trials on the long-acting glucagon-like peptide-1 receptor agonists, or GLP-1 diabetes treatment, has been delayed to this year from the fourth quarter last year as production of the drug fell behind schedule. But the exact timeline hasn’t been announced by both firms yet.

Hanmi licensed out the three diabetes drug candidates, collectively known as the “Quantum Project,” to Sanofi in November 2015. They include efpeglenatide and a combination of efpeglenatide and LAPS-insulin115.

Under the initial agreement, Hanmi was expected to receive an upfront payment of 400 million euros, and is eligible for payment of up to 3.5 billion euros if it achieves certain sales and development milestones.

But as Sanofi scaled down the deal, Hanmi returned 196 million euros of the upfront fee and the development milestones shank to 2.7 billion euros.

By Park Han-na (hnpark@heraldcorp.com)

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