Alteogen Signs Technology Export Deal Worth 2 Trillion KRW for Subcutaneous Injection with AstraZeneca

Alteogen Headquarters View. Photo by Alteogen

Alteogen has signed a technology export contract worth 2 trillion KRW for a subcutaneous injection formulation with a subsidiary of AstraZeneca.

According to Alteogen's disclosure on the 18th, the company signed a contract to export the proprietary hyaluronidase technology 'ALT-B4' to 'MedImmune' for a total amount of $1.3 billion (approximately 1.9 trillion KRW). The upfront payment is $45 million (approximately 65.2 billion KRW). MedImmune is AstraZeneca's global biopharmaceutical research and development subsidiary.

The contract includes development, regulatory, and sales-related milestones (stepwise royalties). Additionally, once the product is sold, Alteogen will receive royalties at a predetermined rate. Alteogen grants AstraZeneca exclusive global development rights for the subcutaneous injection (SC; Subcutaneous injection) formulation development of multiple anticancer drugs.

ALT-B4 is a recombinant enzyme protein that breaks down hyaluronic acid, which hinders drug penetration in subcutaneous tissue. It creates a passage in human skin to help drugs penetrate the subcutaneous tissue. This technology converts intravenous (IV) therapies into SC formulations.

CEO Park Soon-jae said, "Signing a partnership with AstraZeneca, a global innovative drug developer, and being able to apply the Hybrozyme platform technology is a significant advancement for our company. Since this contract was signed after due diligence in various fields including substances and patent rights to confirm stability, we expect it to become a treatment option that can improve the quality of life for many patients through rapid development."

AstraZeneca's Chief Medical Officer Christian Massarche said, "We look forward to collaborating with Alteogen on several assets in our portfolio, aiming to provide patients with new subcutaneous administration options that can transform cancer treatment."

Alteogen developed recombinant hyaluronidase using its proprietary 'Hybrozyme' platform technology. Including this contract, it has signed technology export contracts with a total of six global companies. It is expanding the rights of ALT-B4 through a diverse patent portfolio.

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