Alteogen Receives $20 Million Signing Fee from Daiichi Sankyo

Bio platform company Alteogen announced on the 3rd that it has received a $20 million upfront payment from its partner Daiichi Sankyo, to whom it licensed ALT-B4 technology.

On the 8th of last month, Alteogen signed an exclusive license agreement granting the use of ALT-B4 to develop a subcutaneous injection formulation of the antibody-drug conjugate (ADC) Enhertu® (Enhertu®, trastuzumab deruxtecan). It was explained that the upfront payment would be received within 30 days.

The partner company completed preparations quickly, resulting in the upfront payment being received about a week earlier than planned.

An Alteogen official stated, "Through Daiichi Sankyo's prompt preparation of the upfront payment, we confirmed their trust in Alteogen," adding, "We once again feel a great sense of responsibility as a partner." He further said, "We plan to support seamless progress by ensuring that each department of Alteogen, including quality, regulatory affairs, and manufacturing, is thoroughly prepared in line with the partner’s clinical development plans."

To advance as a global pharmaceutical company, Alteogen has been promoting the advancement of its quality management system. It has been steadily improving, including obtaining ISO 9001 certification. To stabilize the global supply chain, it has discovered various CMOs and significantly expanded its quality-related departments.

Alteogen developed the recombinant hyaluronidase ‘ALT-B4’ using its proprietary Hybrozyme™ platform technology. Through the composition of a diverse patent portfolio, it is expanding the rights of ALT-B4. This provides a more effective platform to existing partners and potential partners interested in subcutaneous injection formulations. The company aims to grow into a globally competitive enterprise in the field of hyaluronidase.

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