#South Korea #Novartis #Daejeon #Alteogen #Hybrozyme

Alteogen Enters Agreement with Novartis for Innovative Hybrozyme™-Enabled Products

In a notable development within the biopharmaceutical sector, Alteogen Inc., a South Korean company publicly traded on KOSDAQ, has successfully entered into an option and license agreement with global pharmaceutical giant Novartis. This agreement is focused on the development and commercialization of subcutaneous (SC) products that utilize Alteogen's proprietary ALT-B4 technology, derived from its innovative Hybrozyme™ platform.

Overview of the Agreement

The licensing agreement provides Novartis with various options to acquire exclusive rights for developing and commercializing multiple subcutaneous formulations intended for its products. This collaboration highlights the increasing emphasis on patient convenience and treatment flexibility as biologic administration transitions from traditional intravenous (IV) methods to more modern subcutaneous solutions.

Alteogen’s ALT-B4, or berahyaluronidase alfa, showcases unique capabilities by converting biologics that are generally delivered via IV into faster and easier SC formulations. By temporarily depolymerizing hyaluronan in the extracellular matrix, ALT-B4 significantly enhances the dispersion and absorption features of co-administered therapeutics, potentially improving patient outcomes and experience.

Financial Implications

If Novartis exercises all options included in the agreement and meets all associated development milestones, Alteogen stands to gain a substantial total of up to $3.223 billion. This figure encompasses not only option exercise fees but also milestone payments associated with development and commercialization, as well as royalties based on net sales from products launched under this agreement.

Dr. Tae-Yon Chun, CEO of Alteogen, emphasized the importance of this collaboration, stating, “Novartis is a world-leading pharmaceutical company at the forefront of the global healthcare industry and has evaluated the application of ALT-B4 across multiple modalities for subcutaneous formulation development. This agreement demonstrates the technological strength and commercial value of Alteogen's Hybrozyme™ platform.”

Background on Alteogen

Founded in 2008, Alteogen Inc. specializes in the creation and commercialization of novel biologic therapies. Their portfolio includes advanced biopharmaceutical products like Antibody-Drug Conjugates (ADCs), biobetters, and biosimilars. Among these, the Hybrozyme™ technology stands out for its ability to facilitate large-volume subcutaneous drug administration, a crucial improvement for clinical practices focusing on patient comfort. This partnership with Novartis marks another milestone in Alteogen's continuous efforts to usher in new and innovative therapeutic solutions.

As the healthcare landscape evolves with increasing demand for patient-centric treatment options, agreements like these signal an exciting future for biopharmaceutical innovation. With the successful deployment of Hybrozyme™ technology, both Alteogen and Novartis are poised to make significant contributions to patient care and overall health outcomes globally.

For More Information

For further inquiries regarding this licensing agreement and its implications, parties interested can contact:

• - Vivek Shenoy, Ph.D., MBA

Chief Business Officer
Phone: +1 805 570 8998
Email: [email protected]

• - Siddharth Akolkar, MSc, MBA

Business Development Director
Phone: +1 862 235 8516
Email: [email protected]>

This partnership not only reflects the technological advancements within the biopharmaceutical landscape but also signals a pivotal collaboration aimed at enhancing patient treatment experiences through improved drug delivery systems.