Genentech moved to deepen its obesity pipeline through a major licensing pact with Hanmi Pharmaceutical for HM17321, a long-acting urocortin-2 analog designed to reduce fat while preserving muscle. Genentech will pay Hanmi a $190 million upfront fee, with the total deal value potentially reaching about $2.3 billion including development, regulatory, and commercial milestones. Hanmi retains rights in South Korea, while Genentech assumes worldwide development and commercialization outside the territory. HM17321 received FDA IND clearance in November 2025 to initiate a Phase 1 clinical trial (NCT07219589), which is currently evaluating safety, tolerability, pharmacokinetics, and pharmacodynamics in healthy volunteers and people with obesity.