Eli Lilly agreed to license Hanmi Pharm’s phase 2-stage GLP-2 agonist sonefpeglutide for short bowel syndrome, extending Lilly’s push beyond traditional weight-loss chemistry into gastrointestinal rare diseases. Under the deal, Lilly pays $75 million upfront and could add up to $1.185 billion tied to clinical, regulatory and commercialization milestones, plus royalties. Hanmi will complete the ongoing trial in its current scope while Lilly plans new studies using nonclinical and clinical data. Hanmi positions sonefpeglutide as a long-acting monthly option, aiming to compete with existing daily-injection GLP-2 therapy Gattex, approved in 2012 for SBS. The transaction underscores competitive pressure in SBS where pipeline developers try to reduce treatment burden, as well as Lilly’s broader strategy to deepen its GLP franchise in new therapeutic categories.