Gan & Lee licenses diabetes drug to JW Pharmaceutical

BEIJING and BRIDGEWATER, N.J., April 9, 2026 /PRNewswire/ -- Gan & Lee Pharmaceuticals (hereinafter referred to as "Gan & Lee", SSE: 603087) announced the signing of an exclusive licensing agreement with JW Pharmaceutical, a leading pharmaceutical company in South Korea. Under the agreement, the two parties will collaborate on the clinical development, regulatory filing, and commercialization in South Korea of Bofanglutide Injection, a bi-weekly (once every two weeks) Glucagon-Like Peptide-1 Receptor Agonist (GLP-1RA) independently discovered and developed by Gan & Lee.

Strategic Alliance: By Leveraging JW's Strengths in R&D and Commercialization in South Korea, Gan & Lee Will Establish a Strong Commercial Footprint in South Korea's High-Potential Metabolic Disease Market

Under the terms of the agreement, JW Pharmaceutical will be granted the exclusive rights to develop and commercialize Bofanglutide Injection in South Korea. Gan & Lee Pharmaceuticals will receive a one-time, non-refundable upfront payment of USD 5 million. Additionally, Gan & Lee is eligible to receive milestone payments totaling USD 76.1 million, contingent upon research and development progress, regulatory approvals, and commercialization achievements. Following the product's commercial launch, Gan & Lee will also receive tiered royalties based on net sales. The total potential transaction value reaches up to USD 81.1 million (excluding royalties).

This collaboration marks the third overseas out-licensing deal for Gan & Lee's Bofanglutide Injection, following previous partnerships in Latin America and India. According to data from Grand View Research, the GLP-1RA market in the Asia-Pacific region reached USD 5.47 billion in 2025 and is projected to grow to USD 16.95 billion by 2033, representing a compound annual growth rate (CAGR) of 14% [1], making it one of the fastest-growing regions globally. Currently, the treatment penetration rate of GLP-1 drugs remains extremely low, indicating massive growth potential. As a mature market in the Asia-Pacific region, South Korea's GLP-1RA market size reached USD 526 million in 2025 and is expected to increase to USD 1.6 billion by 2033 [2]. With its high acceptance of innovative drugs and strong patient purchasing power, the South Korean market has become a strategic foothold for multinational pharmaceutical companies entering East Asia. This collaboration marks another key step in the rapid global expansion of Gan & Lee's differentiated bi–weekly GLP–1RA, Bofanglutide.

Steady Progress in Global Phase III Clinical Trials; Bi-weekly Dosing Regimen Significantly Enhances Patient Compliance

Currently, as the world's first bi-weekly GLP-1RA to enter Phase III clinical research, Bofanglutide has advanced into the critical Phase III stage of its global development for three proposed indications: obesity/overweight, type 2 diabetes mellitus (T2DM), and obstructive sleep apnea (OSA). Existing clinical data demonstrate that Bofanglutide can effectively reduce body weight and blood glucose levels while comprehensively improving other metabolic parameters, yielding overall metabolic benefits. Its safety and tolerability profiles are consistent with other GLP-1RA class therapies. The bi-weekly dosing regimen further reduces the annual number of injections by 50% compared to mainstream once-weekly GLP-1RAs. This is anticipated to substantially boost patient adherence, offering a more convenient treatment option for the long-term, effective management of metabolic diseases.

As the global burden of metabolic diseases continues to rise, GLP-1 therapies are encountering tremendous market opportunities. South Korea, as one of the world's key pharmaceutical markets, exhibits a robust demand for innovative diabetes and weight-loss therapies. This collaboration will effectively address the clinical and commercial needs of the South Korean market for highly efficacious and convenient treatment regimens.

"This partnership with JW Pharmaceutical marks another pivotal step in the globalization strategy for Bofanglutide," stated Dr. Zhi Li, Chief Business Officer of Gan & Lee Pharmaceuticals. "GLP-1 therapies are reshaping the global treatment landscape for metabolic diseases. The convenience of Bofanglutide's bi-weekly dosing and its compelling clinical benefits will help address the unmet medical needs of South Korean patients. With over 80 years of experience, JW brings deep development and commercial expertise in metabolic diseases—a key factor in our decision to partner with JW."

Young-sub Shin, CEO of JW Pharmaceutical, commented: "This agreement represents a significant milestone in expanding our product portfolio within the rapidly growing therapeutic area of metabolic diseases, particularly diabetes and obesity. JW Pharmaceutical will leverage its established expertise in clinical development and regulatory execution, remaining committed to advancing the development and commercialization of Gan & Lee's Bofanglutide in South Korea, thereby bringing innovative treatment options to South Korean patients."