BioMarin struck a deal that could reach up to $475 million for a next-generation Fabry disease enzyme replacement therapy candidate, HM15421/GC1134A (LA-GLA). The therapy pairs Hanmi’s long-acting drug technology with GC Biopharma’s ERT expertise, aiming to extend in-body exposure via a formulation designed for subcutaneous administration. BioMarin will receive worldwide rights to the candidate, while GC and Hanmi retain commercialization rights in Korea and responsibility for regulatory approval efforts. The companies are also eligible for additional development and commercial milestone payments that could total $405 million, split between the two South Korean firms. The candidate is in a Phase I/II study (NCT06858397). BioMarin’s leadership said the agreement aligns with its broader Fabry strategy after adding Amicus earlier in the year, positioning LA-GLA as a potential option to expand treatment beyond patients currently covered by galafold-amenable mutations. The structure of the transaction underscores continued investor and partner appetite for lysosomal storage disorder franchises where delivery innovations may differentiate efficacy, convenience, or dosing burden.