Alteogen signs deal with Novartis worth up to $3.2 bil. for subcutaneous formulations
Korean biotechnology company Alteogen Inc. said Wednesday that it signed an option and licensing agreement with Novartis AG worth up to 4.4 trillion won ($3.2 billion) to develop and commercialize subcutaneous (SC) formulations using its ALT-B4 technology. Under the agreement, the Swiss pharmaceutical company will have exclusive rights, through multiple options, to develop and commercialize SC…
Korean biotech firm Alteogen Inc. has inked a licensing and option deal with Novartis AG, valued at up to $3.2 billion, to develop and market subcutaneous (SC) drug formulations. The agreement grants Novartis exclusive rights to create and sell these SC formulations, using Alteogen's ALT-B4 technology, across various products. In addition to the potential $3.2 billion payout upon meeting all milestones, Alteogen will also earn royalties on net sales following commercialization.
ALT-B4, a recombinant human hyaluronidase developed via Alteogen's Hybrozyme platform, facilitates the conversion of intravenous (IV) biologic drugs into SC formulations. This marks the fourth ALT-B4 licensing agreement Alteogen has struck with a global pharmaceutical company this year. ALT-B4 works by temporarily breaking down hyaluronic acid, a crucial component of the extracellular matrix, to aid drug delivery.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
