Business · Companies · 5 hrs ago
Hanmi Pharmaceutical licenses Fabry disease drug candidate to BioMarin
Hanmi Pharmaceutical and GC Green Cross licensed a Fabry disease drug candidate to BioMarin in a deal valued at $475 million.
The companies are developing HM15421, a treatment for the rare inherited disease, with each set to receive half of the $70 million upfront payment.
The candidate is designed to change treatment from an infusion every two weeks to an injection under the skin once a month.
That could make treatment more convenient, while BioMarin’s existing Fabry drug is limited to patients with certain gene variants.
This is Hanmi’s third global licensing deal this year, following agreements with Eli Lilly in June and Genentech in August.
Daol Investment & Securities kept its buy rating and raised its price target for Hanmi from 700,000 won to 710,000 won, citing the deal.
The current clinical trial is expected to finish in 2028, and the analyst said a launch could follow in 2032 after a phase 3 trial.
Hanmi Pharmaceutical licensed its Fabry disease drug candidate HM15421 to BioMarin in a deal valued at $475 million.
The candidate is being developed with GC Green Cross and is designed as a monthly injection, replacing an existing treatment approach involving intravenous doses every two weeks.
The deal includes $70 million upfront, split equally between Hanmi and GC Green Cross.
Daol Investment & Securities described it as Hanmi’s third global technology export this year and raised its target price for the company.
The ongoing global Phase 1/2 trial is expected to finish in 2028, with a potential launch in 2032 after Phase 3 trials.
- Who
- Hanmi Pharmaceutical and GC Green Cross licensed the candidate to BioMarin.
- What
- They signed a technology licensing deal for HM15421, a long-acting Fabry disease treatment candidate, worth $475 million.
- When
- The deal was reported as recent; the article was published on November 2, 2026.
- Where
- Not stated
- Why
- HM15421 is intended to improve treatment convenience by changing dosing from an intravenous infusion every two weeks to a monthly injection.
This story does not have two clearly opposing sides.
Hanmi signed a global licensing deal with Eli Lilly for sonofeglutide.
Hanmi signed a global licensing deal with Genentech for HM17321.
Hanmi and GC Green Cross licensed HM15421 to BioMarin.
The ongoing global Phase 1/2 trial is expected to finish.
A full-scale launch of HM15421 could be possible after Phase 3 trials.
- Deal value
- $475 million
- Upfront payment
- $70 million total; Hanmi and GC Green Cross each receive $35 million
- Drug candidate
- HM15421 (LA-GLA), a Fabry disease treatment candidate
- Dosing plan
- Monthly subcutaneous injection, compared with intravenous treatment every two weeks
- Trial outlook
- Phase 1/2 expected to finish in 2028; potential launch in 2032
What people are saying
The significance is that long-acting technology used for peptides has been extended to enzymes for rare-disease treatment and led to a licensing deal
Considering BioMarin’s rare-disease commercialization capabilities, we newly reflected HM15421’s drug value of 195.8 billion won in the company’s value
The ongoing global Phase 1/2 trial is expected to end in 2028, and a full-scale launch could be possible in 2032 after Phase 3 trials