Hanmi Pharm’s New Drug Substance Returned by Janssen Has Exported 1 Trillion Won of Technology to MSD (Comprehensive)
Hanmi Pharm (Hanmi Science, Inc.) announced on the 4th that it had exported a new biological drug "LAPSGLP/Glucagon receptor dual agonist" worth 870 million dollars (about 1 trillion won) for Nonalcoholic Steatohepatitis (NASH) to MSD (Merck, USA), a multinational pharmaceutical company. Among them, the deposit without obligation is $10 million.
The new drug substance, which had been exported to the multinational pharmaceutical company Janssen in 2015, was returned in last July. Janssen aimed to develop the drug as a treatment for obesity patients with diabetes, but MSD is planning to develop it as a treatment for nonalcoholic steatohepatitis.
This drug has a dual action mechanism that activates "GLP-1", which helps suppress insulin secretion and appetite in the body and simultaneously increases energy metabolism, "glucagon". Hanmi Pharm's "LAPSCOVERY", a drug-based technology for sustaining drug efficacy, was applied.
With this agreement, MSD will secure exclusive rights to the development, manufacture and commercialization of the "LAPSGLP/Glucagon Receptor Dual Agonist" worldwide, excluding Korea.
Hanmi Pharm will receive a confirmed $10 million contract from MSD and will receive up to $860 million if the clinical development, licensing, and commercialization at each stage are successful. After the product launch, it will also receive double-digit sales royalties.
Se-Chang Kwon, CEO of Hanmi Pharm, said: "The new drug developed for the treatment of obesity and diabetes has expanded to a therapeutic agent for chronic metabolic diseases including NASH." This shows that "frequent failures in the field of new drug development create new innovations".
Next, President Kwon said, “We will do our best to develop innovative new drugs for NASH treatment with MSD who has expertise in the field of metabolic disease. And we will inherit the wishes of the late Chairman Lim Sung-ki and keep carrying out R&D of new drugs".