Gan & Lee Pharmaceuticals has entered an exclusive licence agreement with JW Pharmaceutical for the clinical development, regulatory approval, and commercialisation of bofanglutide injection in South Korea.
Bofanglutide is a bi-weekly glucagon-like peptide-1 receptor agonist (GLP-1RA) discovered and developed by Gan & Lee.
Under the agreement, JW Pharmaceutical gains exclusive rights to develop and commercialise the injection.
Gan & Lee will leverage the strengths of JW Pharmaceutical in R&D to establish a commercial presence in South Korea’s metabolic disease market.
Gan & Lee will receive a non-refundable upfront payment of $5m, with milestone payments up to $76.1m, dependent on research, regulatory, and commercialisation targets.
The company will also obtain tiered royalties on net sales, bringing the total potential transaction value to $81.1m, excluding royalties.
This marks the third overseas out-licensing deal for Bofanglutide, after similar agreements in India and Latin America.
Bofanglutide has entered Phase III clinical research, targeting indications such as obesity/overweight, type 2 diabetes mellitus, and obstructive sleep apnoea.
Data indicate that the injection reduces body weight and blood glucose levels while favourably affecting metabolic parameters, with a safety and tolerability profile similar to other GLP-1RA therapies.
The bi-weekly dosing schedule minimises the annual number of injections by half compared to the standard once-weekly alternatives.
Gan & Lee Pharmaceuticals chief business officer Dr Zhi Li said: “This partnership with JW Pharmaceutical marks another pivotal step in the globalisation strategy for bofanglutide. GLP-1 therapies are reshaping the global treatment landscape for metabolic diseases.
“The convenience of Bofanglutide’s bi-weekly dosing and its compelling clinical benefits will help address the unmet medical needs of South Korean patients. With over 80 years of experience, JW brings deep development and commercial expertise in metabolic diseases—a key factor in our decision to partner with JW.”
