Eli Lilly signs US$1.26B deal with Hanmi for long-acting GLP-2 intestinal therapy

USA—Eli Lilly and Company has entered into a global licensing agreement with South Korea’s Hanmi Pharmaceuticals, valued at up to US$1.26 billion, to strengthen its biologics pipeline, focusing on gastrointestinal and metabolic therapies.

Under the agreement, Lilly will obtain exclusive worldwide rights, excluding South Korea, to develop, manufacture, and commercialise sonefpeglutide, a long-acting GLP-2 analogue.

The collaboration focuses on Hanmi’s LAPSCOVERY platform, a proprietary long-acting drug-delivery technology designed to enhance the stability and therapeutic duration of biologic medicines.

Sonefpeglutide builds on this platform and represents one of Hanmi’s key investigational candidates in gastrointestinal disease research.

Advancing GLP-2 science and clinical development

Sonefpeglutide targets glucagon-like peptide-2 (GLP-2), a hormone involved in intestinal growth, mucosal repair, and inflammation reduction.

Preclinical studies have shown promising regenerative effects on intestinal tissue, supporting its potential in conditions with significant unmet medical needs.

Hanmi Pharm is currently advancing a global Phase II clinical trial evaluating the candidate in short bowel syndrome (SBS), a rare but severe disorder that impairs nutrient absorption due to insufficient intestinal function.

Under the agreement, Hanmi will complete the ongoing Phase II study, after which Lilly will assume responsibility for further clinical development using the generated data.

In parallel, Hanmi continues to apply its LAPSCOVERY technology across multiple investigational programmes, with five additional biologic candidates progressing through global development pathways.

The company has also presented preclinical and translational findings on LAPS-based GLP-2 therapies at international scientific meetings, highlighting broad therapeutic potential across gastrointestinal and metabolic disorders.

Financial structure and long-term commercial rights

As part of the agreement, Hanmi will receive an upfront payment of US$75 million, along with eligibility for up to US$1.185 billion in milestone payments.

These payments are tied to clinical progress, regulatory approvals, and eventual commercialisation outcomes.

Hanmi will also earn tiered royalties once the product reaches the market.

According to Hanmi Vice-Chairman Juhyun Lim, the partnership reflects strong global confidence in the company’s platform technology and its potential to generate next-generation biologic therapies with improved durability and clinical impact.

Lilly’s expanding strategic pipeline in 2026

The agreement adds to Lilly’s ongoing expansion strategy in biologics and specialty therapeutics.

The company has recently intensified its focus on external innovation, including multiple acquisitions in adjacent therapeutic areas.

Earlier in May, Lilly also moved to acquire three vaccine-focused biotech firms, reinforcing its presence in infectious disease research while broadening its global development portfolio.

Through these initiatives, Lilly continues to strengthen its position in advanced biologics, combining internal R&D with strategic partnerships to accelerate late-stage clinical development and expand global commercial reach across the metabolic, gastrointestinal, and infectious disease domains.