Samsung Bioepis Holdings is moving into the obesity treatment market through a partnership with domestic biotech company G2GBio to develop a long-acting obesity drug.

According to industry sources on March 16, Samsung Bioepis Holdings signed a deal to invest 20 billion won in convertible bonds issued by G2GBio. The investment is part of a broader joint research and licensing agreement between Samsung Bioepis, its affiliate Epys NexLab, and G2GBio.

Under the agreement, Samsung Bioepis and Epys NexLab will develop obesity treatments using G2GBio’s microsphere-based drug delivery technology. The platform encapsulates drugs into microscopic particles that slowly release medication in the body over time.

When applied to obesity treatments, the technology could extend dosing intervals to once a month, compared with the once-weekly injection schedule of Wegovy (semaglutide). Epys NexLab plans to work with G2GBio to build a long-acting drug delivery platform through joint research and development.

The rapid growth of the obesity treatment market is also fueling competition among pharmaceutical companies. According to global healthcare analytics firm IQVIA, the global obesity drug market is expected to grow from about $30 billion in 2024 to roughly $200 billion by 2030.

The domestic market is expanding quickly as well. In the first half of last year, South Korea’s obesity treatment market reached about 270 billion won, a 51 percent increase from the same period a year earlier.

Samsung Bioepis has secured two drug candidates from G2GBio, including a long-acting semaglutide-based obesity treatment. As part of the agreement, G2GBio will receive an upfront payment and milestone payments from Samsung Bioepis.

The two companies also obtained the right of first negotiation to jointly develop three additional candidates, including potential new drug candidates.

Samsung Bioepis Holdings has been pursuing an open innovation strategy that focuses on securing new drugs and platforms through collaboration with external biotech firms.

“This agreement will serve as an opportunity for the company to take another step toward becoming a comprehensive biotech firm by developing innovative drugs that address unmet medical needs,” said Kim Kyung-ah, president of Samsung Bioepis Holdings.

Lee Hee-yong, CEO of G2GBio, said the partnership will allow global development costs for the two obesity drug candidates to be borne by the partner company.

“This will be an opportunity to prove not only the technology but also the commercial value of our platform,” he said.

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