JW Pharmaceutical said Thursday it has secured exclusive domestic rights to bofanglutide, a next-generation GLP-1 receptor agonist, under a licensing agreement with China’s Gan & Lee Pharmaceuticals.
Under the deal, JW Pharmaceutical will lead development, regulatory approval and commercialization in Korea, while Gan & Lee will provide data and documentation needed for investigational new drug and product approvals.
The contract is valued at up to $81.1 million, including a $5 million upfront payment and $76.1 million in milestone payments tied to approvals across four indications: type 2 diabetes, obesity, obstructive sleep apnea and metabolic dysfunction-associated steatohepatitis. Royalties will be paid separately based on sales.
Bofanglutide has shown strong efficacy in clinical trials. In a Phase 2b study, patients recorded an average weight loss of 17.3 percent over 30 weeks with biweekly dosing, underscoring its potential as a next-generation obesity treatment.
JW Pharmaceutical plans to begin domestic Phase 3 trials for obesity and type 2 diabetes in the second half of this year.
The move comes as demand for GLP-1 therapies surges. The Asia-Pacific market is projected to grow from $5.5 billion in 2025 to nearly $17 billion by 2033, according to Grand View Research.
“We will accelerate commercialization to provide innovative treatment options for patients,” CEO Shin Young-sup said.
Gan & Lee said the partnership would support the drug’s development and expansion in Korea.
By Lee Han-gyoul (stlee0329@heraldcorp.com)
