Biotechnology firm Alteogen has signed an exclusive technology-transfer agreement worth up to $365 million (approximately 521.9 billion won) with a global pharmaceutical company for its proprietary ALT-B4 platform.
According to a regulatory filing on August 5, Alteogen entered into an exclusive licensing deal allowing its partner to develop and commercialize a subcutaneous (SC) injection formulation of a biologic therapy using ALT-B4, a recombinant human hyaluronidase developed through the company's proprietary Hybrozyme platform technology.
Under the agreement, the partner receives exclusive worldwide rights to apply ALT-B4 to develop and commercialize a subcutaneous injection version of one of its biologic products.
The contract is valued at up to $365 million (about 521.9 billion won), which includes an upfront payment alongside milestone payments tied to development, regulatory approval, and commercialization targets. Alteogen will also receive separate sales royalties on net sales generated after the product's first commercial sale.
"Signing this licensing agreement with a partner that has led the development of innovative therapies in areas with high unmet medical need carries immense significance," said Jeon Tae-yeon, Executive Vice President of Alteogen. "We will continue to accelerate the growth of our platform business through global partnerships going forward."
ALT-B4 is a recombinant human hyaluronidase enzyme engineered using Alteogen’s Hybrozyme technology. It is used to reformulate biologic drugs traditionally administered via intravenous (IV) injection into subcutaneous formulations that can be administered quickly and conveniently.
