BioMarin enters exclusive worldwide license agreement with GC Biopharma and Hanmi Pharm for investigational enzyme replacement therapy
BMRN•BioMarin agreed to pay $70 million upfront for an exclusive worldwide license to an investigational next-generation enzyme replacement therapy for Fabry disease. GC Biopharma and Hanmi Pharm are eligible for up to $405 million in milestone payments and royalties.
1. License terms
BioMarin Pharmaceutical entered an exclusive worldwide license agreement with GC Biopharma and Hanmi Pharm for HM15421/GC1134A, an investigational next-generation enzyme replacement therapy and potential treatment for Fabry disease. BioMarin will pay $70 million upfront and assume sole responsibility for the therapy outside Korea. GC Biopharma and Hanmi retain commercialization rights in Korea and are eligible for up to $405 million in milestone payments and royalties.
