Roche agreed to license Hanmi Pharmaceutical’s early-stage obesity candidate HM-17321, part of a strategy to drive weight loss while preserving muscle. The deal reportedly includes $190 million upfront consideration, with total payments potentially reaching $2.3 billion, and covers development, manufacturing, and commercialization worldwide while excluding South Korea. The mechanism centers on activating a receptor in skeletal muscle to increase muscle mass and reduce fat. With Roche already active in obesity combinations and mono-therapies, this acquisition of a differentiating, non-incretin approach signals continued diversification of obesity pipelines beyond GLP-1-centered regimens.