Pharma BD Deal Intelligence
BioMarin Pharmaceutical entered an exclusive worldwide license agreement with co-licensors GC Biopharma Corp. and Hanmi Pharm Co., Ltd. to develop and commercialise HM15421/GC1134A, an investigational long-acting recombinant alpha-galactosidase A enzyme replacement therapy for Fabry disease. BioMarin pays USD 70 million upfront, and GC Biopharma and Hanmi are jointly eligible for up to a further USD 405 million on completion of development and commercial milestones, plus tiered royalties on net sales - up to USD 475 million in total consideration excluding royalties. The license covers worldwide rights excluding Korea, where GC Biopharma and Hanmi retain commercialisation rights. HM15421/GC1134A is in a Phase 1/2 clinical trial in Fabry patients and, if approved, could become the first subcutaneously administered enzyme replacement therapy for the disease, differentiating it from the intravenous standard of care. The asset gives BioMarin a second Fabry programme.