Alteogen Licenses Formulation Change Technology to Sandoz... Worth 183.1 Billion KRW

Dosage Form Change Platform 'Hybrozyme'
Enhancing Patient Convenience and Extending Patent Duration

Alteogen exterior (Photo by Alteogen)

[Asia Economy Reporter Chunhee Lee] Alteogen announced on the 30th that it has signed a technology licensing agreement for one product applying 'ALT-B4,' a human recombinant hyaluronidase developed using its subcutaneous injection (SC) formulation change platform, Hybrozyme, with Sandoz. The total contract value, including the signing fee, is $145 million (approximately 183.1 billion KRW).

Hybrozyme is an SC formulation change platform utilizing ALT-B4, developed by Alteogen in 2018. It creates a passage in the hyaluronic acid layer within the skin, enabling large-volume antibody drugs that previously required intravenous injection (IV) to be administered subcutaneously. This not only enhances patient convenience but also allows for patent extension through formulation changes.

Sandoz is a company spun off from Novartis's generic and biosimilar business units. It has a biosimilar portfolio including Erelzi (Enbrel biosimilar), Ziextenzo (Neulasta biosimilar), Rixathon (MabThera biosimilar), Hyrimoz (Humira biosimilar), and Zessly (Remicade biosimilar).

Through this agreement, Alteogen will provide Sandoz with exclusive rights to ALT-B4 for one product under development. Additionally, Sandoz will have the option to enter into additional contracts for two more products in the future. All production and supply of ALT-B4 under the contract will be handled by Alteogen. If Alteogen signs additional contracts with Sandoz for new products, these will proceed under terms similar to this technology licensing agreement, excluding the total contract amount.

The total contract value of $145 million consists of the signing fee and milestones based on clinical development stages, marketing approval, and sales performance. The first signing fee is expected to be received by February 13 of next year, within 45 days after the contract signing. Royalties on sales after market launch are set at up to double-digit percentages.

Park Soon-jae, CEO of Alteogen, said, "Signing an exclusive contract with Sandoz for the development of blockbuster SC formulation products is a very important opportunity to expand the applicability of ALT-B4. It will enhance Alteogen’s status as a provider of SC formulation biosimilar platforms, increase market trust, and serve as a foundation for becoming a global bio company."

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