Alteogen is experiencing a surge of over 12% following the news of the European patent grant for its key platform substance, ALT-B4.
As of 11:10 a.m. on June 9, shares of Alteogen were trading at 324,500 won, up 35,000 won (12.09%) from the previous trading day, according to the Korea Exchange.
The improved investor sentiment is attributed to the European Patent Office's decision to grant a patent for the company's recombinant human hyaluronidase, ALT-B4.
Alteogen announced that it received the intention to grant for the European patent for ALT-B4 and plans to complete the necessary follow-up procedures in various European countries.
ALT-B4 is a core substance of Alteogen's subcutaneous injection formulation modification platform. It was developed using domain swapping technology, which cross-links different types of hyaluronidase domains with the human-derived hyaluronidase, PH20.
With this patent grant, Alteogen has secured exclusive rights for ALT-B4 in Europe, following its existing patent in the United States, which grants exclusive rights until 2043.
To date, seven global pharmaceutical companies, including MSD, AstraZeneca, GSK, Biogen, Daiichi Sankyo, and Intas, have entered into licensing agreements for ALT-B4 and are developing subcutaneous injection formulation therapies utilizing it.
* This article has been translated by AI.
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