Gan & Lee Inks $81M Deal to Bring Bi-Weekly GLP-1 Drug to South Korea

BEIJING and BRIDGEWATER, N.J. – April 09, 2026 – Chinese biopharmaceutical firm Gan & Lee Pharmaceuticals has entered into a significant exclusive licensing agreement with South Korean industry leader JW Pharmaceutical. The deal, potentially worth up to $81.1 million, grants JW Pharmaceutical the rights to develop and commercialize Bofanglutide, a novel, bi-weekly GLP-1 receptor agonist, in the rapidly expanding South Korean market for metabolic diseases.

Under the terms of the agreement, Gan & Lee will receive an upfront payment of $5 million and is eligible for an additional $76.1 million in milestone payments tied to development, regulatory, and commercial achievements. This strategic partnership marks a major step in Gan & Lee’s global expansion and positions Bofanglutide to challenge established players in the lucrative GLP-1 space with a key differentiator: a more convenient dosing schedule.

Entering the Fray: South Korea's Booming GLP-1 Market

The collaboration brings Bofanglutide into one of Asia's most dynamic and competitive pharmaceutical markets. The South Korean market for GLP-1 receptor agonists, a class of drugs transforming the treatment of diabetes and obesity, was valued at approximately $526 million in 2025. Driven by a rising prevalence of metabolic conditions and high patient acceptance of innovative therapies, the market is projected to surge to $1.6 billion by 2033.

This high-growth environment is currently dominated by global pharmaceutical giants Novo Nordisk, with its blockbuster drugs Ozempic and Wegovy, and Eli Lilly, with Mounjaro and Zepbound. These once-weekly injectables have set a high bar for efficacy in blood sugar control and weight loss. However, the intense demand and low treatment penetration rate leave significant room for new entrants, especially those offering distinct advantages. JW Pharmaceutical will leverage its deep local expertise to navigate this landscape, aiming to carve out a substantial market share for Bofanglutide.

The Bi-Weekly Advantage: Differentiating in a Weekly World

Bofanglutide’s primary competitive edge lies in its bi-weekly (once every two weeks) administration schedule. By reducing the number of annual injections by 50% compared to the current standard of care, the drug promises to significantly improve patient adherence and quality of life—a critical factor in managing chronic conditions like type 2 diabetes and obesity.

Independently developed by Gan & Lee, Bofanglutide is advancing through global Phase III clinical trials for three major indications: obesity/overweight, type 2 diabetes mellitus (T2DM), and obstructive sleep apnea (OSA). Existing clinical data has been highly promising. Phase II studies demonstrated that Bofanglutide not only effectively lowers blood glucose and body weight but also comprehensively improves other metabolic markers. Notably, one Phase IIb trial suggested superior weight loss results compared to semaglutide (Ozempic®) over a 24-week period.

Gan & Lee has shown considerable confidence in its asset by initiating head-to-head Phase III trials against market leaders, including Ozempic® and Wegovy®. In a particularly bold move, the company is also conducting a head-to-head comparison with Eli Lilly's dual-agonist tirzepatide (Zepbound®) for weight management, positioning Bofanglutide as a serious contender. The safety and tolerability profile has remained consistent with the GLP-1 class, with the most common side effects being mild to moderate gastrointestinal issues.

A Blueprint for Global Expansion

This agreement with JW Pharmaceutical is the third major international out-licensing deal for Bofanglutide, underscoring Gan & Lee's deliberate and strategic global rollout. Previous partnerships have already secured entry into key markets in Latin America with CARNOT® Laboratorios and in India with Lupin Limited. This pattern of partnering with established regional leaders allows Gan & Lee to leverage local clinical, regulatory, and commercial infrastructure to accelerate market access worldwide.

JW Pharmaceutical, founded in 1945, is an ideal partner for the South Korean market. With over 80 years of experience, the company has a proven track record of successfully licensing in and commercializing innovative foreign medicines. This expertise will be crucial for guiding Bofanglutide through domestic Phase III trials, which are planned to begin in the second half of 2026, and subsequent regulatory approval and launch.

"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."

Echoing this sentiment, 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."

As Gan & Lee continues to build a global network for its flagship metabolic drug, this latest alliance reinforces the growing influence of Chinese biopharmaceutical innovation on the world stage. The introduction of a highly convenient, effective, and potentially first-in-class bi-weekly GLP-1 therapy could significantly disrupt the established market dynamics, offering a welcome new option for millions of patients managing chronic metabolic diseases.