Alteogen signs deal with Novartis worth up to 4.4 tln won for subcutaneous formulations
SEOUL, Sept. 2 (Yonhap) -- South Korean biotechnology company Alteogen Inc. said...
South Korean biotech firm Alteogen Inc. has entered into an agreement with Swiss pharmaceutical giant Novartis valued at up to 4.4 trillion won ($3.2 billion) for the development and commercialization of subcutaneous (SC) drug formulations. The deal, announced on September 2, grants Novartis exclusive rights to utilize Alteogen's ALT-B4 technology in creating and selling SC formulations for various products.
If all milestones are successfully met, Alteogen stands to receive up to 4.4 trillion won in addition to royalties based on net sales after the product's launch. ALT-B4, a human hyaluronidase produced via Alteogen's Hybrozyme platform, allows intravenous (IV) drugs to be transformed into SC formulations, facilitating better absorption and distribution of the medication throughout the body.
This marks Alteogen's fourth ALT-B4 licensing agreement with a major pharmaceutical company this year.
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