Eli Lilly licensed Hanmi Pharma’s long-acting GLP-2 agonist sonefpeglutide for short bowel syndrome, paying $75 million upfront with up to $1.185 billion more tied to clinical, regulatory, and commercialization milestones. The license covers all countries except Korea, where Hanmi retains rights. Hanmi plans to complete the ongoing mid-stage study while Lilly will initiate new studies based on nonclinical and clinical data. The deal positions sonefpeglutide as a challenger to Takeda’s Gattex, an FDA-approved GLP-2 therapy for SBS delivered as a daily injection. Lilly’s expanded GLP-2 exposure adds to its gastrointestinal pipeline activity, including efforts to broaden beyond its GLP-1 franchise.