Alteogen signs licensing agreement with Novartis for drug delivery technology

DAEJEON, South Korea - Alteogen Inc., a prominent biopharmaceutical enterprise specializing in platform technologies, has recently inked an option and license agreement with Novartis for the development and commercialization of subcutaneous (SC) products leveraging Alteogen's Hybrozyme™ technology. The terms of the agreement grant Novartis multiple opportunities to secure exclusive rights to develop and market subcutaneous formulations of several Novartis products utilizing Alteogen's ALT-B4 (berahyaluronidase alfa).

ALT-B4 is a proprietary recombinant human hyaluronidase, fabricated utilizing Alteogen's Hybrozyme™ platform technology. This innovative enzyme facilitates the transformation of intravenously administered biologics into more convenient and rapid SC formulations by temporarily depolymerizing hyaluronan in the extracellular matrix.

Consequently, ALT-B4 accelerates the dispersion and absorption of co-administered therapeutics. The agreement underscores Novartis's dedication to introducing new treatment options for patients and improving the treatment experience. Should all options be exercised and all milestones be met, Alteogen stands to receive up to US$3,223 million, encompassing option exercise fees, development and commercial milestone payments, along with royalties on net sales of commercially launched products.

Tae-Yon Chun, Ph.D., CEO of Alteogen, commented, "Novartis is a global pharmaceutical leader that has explored the application of ALT-B4 across various modalities for subcutaneous formulation development. This agreement attests to the technological prowess and commercial value of Alteogen's Hybrozyme™ platform."