Core Insights - Hanmi Pharm has entered into a global licensing and collaboration agreement with Gilead Sciences and Health Hope Pharma, granting Gilead exclusive rights to develop and commercialize Encequidar [1][3] - Encequidar is a P-gp inhibitor developed through Hanmi's proprietary Orascovery platform, which allows the conversion of injectable medicines into oral formulations [2][3] Agreement Details - Under the agreement, Hanmi and HHP will provide Gilead with exclusive global rights to Encequidar in the field of virology, along with drug supply and technical know-how [3] - Hanmi and HHP will receive an upfront payment and are eligible for development, regulatory, and sales milestones, in addition to low single-digit royalties on net sales [3] Statements from Executives - Dr. Dennis Lam, founder of HHP, emphasized the potential of Encequidar as a first-in-class P-gp inhibitor and its significance for the Hong Kong biotech industry [4] - Jae-Hyun Park, CEO of Hanmi Pharm, highlighted the agreement as validation of Hanmi's formulation technology and a pathway to new growth opportunities through collaboration with a global partner [4] Historical Context - Hanmi originally out-licensed Encequidar and the oral anticancer drug Oraxol to Athenex in 2011, but following Athenex's insolvency, rights were transferred to HHP [4] - HHP is currently conducting clinical trials of Oraxol in the U.S., Hong Kong SAR, and New Zealand, with plans for sequential launches in Europe, Asia, and the U.S. [4]