by Choi Seoyoon
Published 03 Apr.2023 17:33(KST)
Alteogen, a biopharmaceutical development company, announced on the 3rd that it has invoiced its partner company for a milestone payment (royalty) of $13 million (approximately 17 billion KRW) following the entry of the first application item of Hybrozyme into Phase 3 clinical trials.
Hybrozyme is a subcutaneous (SC) formulation change platform that uses Alteogen's recombinant hyaluronidase 'ALT-B4'. This announcement follows the Phase 3 clinical trial entry of the partner company to which the technology was licensed in 2020. The invoiced payment is typically received within one month.
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