Alteogen has entered into a licensing agreement worth up to 521.9 billion won ($365 million) with a global pharmaceutical company for its Hybrozyme® platform technology.
On August 5, Alteogen announced that it has signed an exclusive license agreement for the development and commercialization of a subcutaneous (SC) formulation of its recombinant human hyaluronidase, ALT-B4, utilizing its Hybrozyme platform technology.
Under this agreement, the partner company will gain exclusive rights to develop and commercialize its products using the ALT-B4 subcutaneous formulation.
The deal includes an upfront payment and milestone payments for development, approval, and commercialization, totaling up to $365 million. Alteogen will also receive separate sales royalties on net sales generated from the first commercial sale of products incorporating ALT-B4.
Chun Tae-yeon, CEO of Alteogen, stated, "We are pleased to have signed this licensing agreement with a partner that has been leading the development of innovative therapies in areas with high unmet medical needs. We will continue to accelerate the growth of our platform business through global partnerships."
Meanwhile, Alteogen demonstrated the competitiveness of its platform last year when Merck's (MSD) Keytruda SC, which utilizes its technology, was commercialized. Keytruda SC received a billing code (J-code) in the United States in April.
* This article has been translated by AI.
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