HK inno.N licenses in GLP-1 analog from Chinese biotech

HK inno.N, a Korean pharmaceutical company, announced its strategic entry into the rapidly growing global obesity treatment market through a partnership with Sciwind Biosciences, a Chinese biotech firm.

This collaboration is centered around the development and commercialization of Sciwind Biosciences' glucagon-like peptide-1 (GLP-1) analog, ecnoglutide (XW003), in Korea.

Ecnoglutide, a once-weekly injectable treatment, is in phase 3 clinical trials in China for type 2 diabetes and obesity. Earlier phase studies in China and Australia confirmed its efficacy in reducing blood sugar and body weight while maintaining a strong safety and tolerance profile, HK inno.N said.

Under the accord, HK inno.N will make an upfront payment to Sciwind, along with milestone payments and royalties based on sales post-launch. However, the company did not disclose the size of the contract, citing contractual reasons.

The deal grants HK inno.N exclusive rights to develop and commercialize ecnoglutide within Korea.

"With the introduction of ecnoglutide, we are poised to make a significant impact in the globally accelerating obesity treatment market," HK inno.N CEO Kwak Dal-won said. "Based on the blockbuster success of gastroesophageal reflux disease (GERD)drug K-CAB, we will work closely with Sciwind to develop ecnoglutide into a product that can generate more than 100 billion won in the domestic obesity treatment market. "

Sciwind CEO Hai Pan also said, "We are delighted to collaborate with HK inno.N, which has demonstrated robust product development and commercialization capabilities."

Ecnoglutide has shown therapeutic efficacy in treating type 2 diabetes and obesity and favorable safety and tolerability outcomes, Pan added.

Meanwhile, the global market for GLP-1-related obesity treatments is projected to grow at an annual rate of 30 percent, reaching a staggering 100 trillion won ($72.3 billion) by 2030.

The domestic market is also expected to expand significantly, from 170 billion won in 2022 to 720 billion won by 2030, propelled by increasing rates of overweight and obesity among the population.