Hanmi Pharmaceutical will regain global development and commercialization rights outside Korea for belvarafenib after Genentech terminated their 2016 technology-transfer agreement. The termination takes effect on December 27, 90 days after Genentech's notification on the 29th. The $910 million deal included an $80 million upfront payment and up to $830 million in milestone payments. Genentech had suspended additional patient recruitment in April 2024 and removed belvarafenib from Roche's development pipeline after evaluating two clinical trials and determining its prospects were relatively low. Hanmi will continue a domestic Phase 2 trial combining belvarafenib with cobimetinib for locally advanced or metastatic NRAS-mutated melanoma, while deciding whether to pursue overseas development itself or find a new partner. Genentech must transfer clinical data and development materials, including data from a Phase 1b trial involving 65 patients across 18 countries.