[Featured Stock] Alteogen Rises on News of Receiving Technology Export Contract Deposit

Alteogen is showing strong performance following news that it received an upfront payment from the Japanese pharmaceutical company Daiichi Sankyo for a technology licensing deal.

As of 9:49 AM on the 3rd, Alteogen is trading at 323,500 KRW, up 7.12% compared to the previous day.

The positive movement is attributed to reports that Alteogen received an upfront payment of 20 million USD (approximately 28.1 billion KRW) from its partner Daiichi Sankyo, who licensed the proprietary human hyaluronidase technology 'ALT-B4.'

Earlier, on the 8th of last month, Alteogen announced that it had signed a technology licensing contract worth 300 million USD (approximately 400 billion KRW) with Daiichi Sankyo for ALT-B4.

Under the agreement, Daiichi Sankyo was granted an exclusive license to apply the ALT-B4 technology to the antibody-drug conjugate (ADC) breast and gastric cancer treatment 'Enhertu,' enabling the development of a subcutaneous injection formulation of the therapy.

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