Alteogen has signed a subcutaneous injection formulation technology export contract worth 2 trillion won with an AstraZeneca subsidiary. According to Alteogen’s announcement on the 18th, the company signed a contract to export the core technology ‘ALT-B4′ of recombinant hyaluronidase to Medimmune for a total amount of 1.3 billion dollars (approximately 1.9 trillion won). The contract payment amounts to 45 million dollars (approximately 65.2 billion won). Medimmune is AstraZeneca’s global biologics research and development subsidiary.
The contract includes milestones related to development, regulation, and sales. Additionally, if the product is sold, Alteogen will receive royalties based on a predetermined rate. Alteogen grants AstraZeneca exclusive global development rights for the subcutaneous injection (SC) formulation of multiple oncology therapeutics.
ALT-B4 is a recombinant enzyme protein that degrades hyaluronic acid, which hinders drug penetration into subcutaneous tissue. It creates a pathway in human skin, allowing drugs to penetrate subcutaneous tissues. This technology converts intravenous (IV) therapies into SC formulations.
CEO Soon-Jae Park stated, “It is a significant advancement for us to partner with a world-leading innovative therapy developer like AstraZeneca and apply our Hybrozyme platform technology. This contract, concluded after due diligence on various aspects such as materials and patent rights to ensure stability, is expected to become a treatment option that can enhance many patients’ quality of life through rapid development.”
Christian Masachetzi, AstraZeneca’s Chief Medical Officer, commented, “We look forward to collaborating with Alteogen on several assets in our portfolio, aiming to offer patients new subcutaneous administration options that can transform cancer treatment modalities.”
Using its proprietary ‘Hybrozyme’ platform technology, Alteogen developed the recombinant hyaluronidase. Including this agreement, Alteogen has signed technology export contracts with a total of six global companies, expanding the rights to ALT-B4 through a diverse patent portfolio.