Under the terms of the agreement, Hanmi will receive an upfront payment of €400 million and is eligible for up to €3.5 billion in development, registration and sales milestones, as well as double digit royalties on net sales.
Pharma giant Sanofi and Korea's Hanmi Pharmaceutical Co. Ltd. have entered into a worldwide license agreement to develop a portfolio of experimental, long-acting diabetes treatments.
Under the terms of the agreement, Hanmi will receive an upfront payment of €400 million and is eligible for up to €3.5 billion in development, registration and sales milestones, as well as double digit royalties on net sales. Sanofi will obtain an exclusive worldwide license to develop and commercialize:
1) efpeglenatide, a late-stage long-acting glucagon-like peptide-1 receptor agonists (GLP1-RA);
2) A weekly insulin;
3) A fixed-dosed weekly GLP-1-RA/insulin drug combination.
