Alteogen Signs Non-Exclusive Global License Agreement for Hybrozyme Technology with Top 10 Pharmaceutical Companies

Second Contract with a Top 10 Global Pharmaceutical Company Six Months After First Deal with a Global Pharma Firm

[Asia Economy Reporter Hyungsoo Park] Alteogen, a bio-better development company, announced on the 24th that it has signed a non-exclusive global license agreement for human hyaluronidase (ALT-B4) using Hybrozyme™ technology with one of the world's top 10 pharmaceutical companies.

Alteogen granted the top 10 pharmaceutical companies the rights to develop and commercialize multiple products using ALT-B4. Alteogen will receive a signing fee of 19.4 billion KRW and a total of 4.677 trillion KRW in milestones based on clinical development, marketing authorization, and sales performance of the products. The pharmaceutical companies can additionally develop products, and for each product developed, they must pay the pre-agreed milestone amounts to Alteogen. The supply of ALT-B4 quantities for clinical development or commercial sales mixed with antibodies and bio products will be the responsibility of Alteogen.

The human hyaluronidase developed by Alteogen uses protein engineering technology to improve thermal stability and enhance protein stability while maintaining the unique mechanism of action and enzymatic activity of the previously known human hyaluronidase. It has completed preclinical trials. The advantage of this technology is that it temporarily hydrolyzes hyaluronan in subcutaneous tissue, enabling large-volume subcutaneous administration of all biopharmaceuticals or antibody drugs that are generally administered intravenously.

By providing convenience to patients, many pharmaceutical companies are actively developing products that administer intravenous antibody drugs via subcutaneous injection. This is especially becoming a counter-strategy by original companies against biosimilars.

Currently, Roche, a global pharmaceutical company, holds more than 50% of the Herceptin SC formulation market in Europe for Herceptin, a breast and gastric cancer treatment. This year, it launched in the United States, threatening the Herceptin biosimilar market.

Dr. Soon-Jae Park, CEO of Alteogen, said, "We are pleased to collaborate with a global leader in antibody therapeutics," adding, "Along with the contract signed with another global pharmaceutical company last November, this agreement has allowed Hybrozyme technology to be recognized."

This content was produced with the assistance of AI translation services.