Sanofi is collaborating on diabetes treatments with two new partners. It will pay $300 million up front to work with Lexicon Pharmaceuticals on developing sotagliflozin. The small-molecule inhibitor of sodium-glucose cotransporters 1 and 2 is in Phase III clinical trials. Sanofi also has licensed three long-acting protein- and peptide-based diabetes therapies from Hanmi Pharmaceutical. The South Korean company will receive an initial payment of $430 million from Sanofi. Separately, Hanmi will work with Janssen Pharmaceuticals, part of Johnson & Johnson, to develop an oxyntomodulin-based therapy to treat diabetes and obesity. Janssen will pay $105 million for rights to Hanmi’s lead biologic GLP-1/glucagon dual receptor agonist, which is expected to enter Phase II trials next year.