#South Korea #Daejeon #Alteogen #Dostarlimab #Hyaluronidase

Alteogen's New Collaboration with Tesaro

Alteogen Inc., a biopharmaceutical leader based in South Korea, announced a significant exclusive license agreement with Tesaro, Inc., a subsidiary of GlaxoSmithKline (GSK), to develop a subcutaneous formulation of Dostarlimab, leveraging their innovative Hybrozyme™ technology. This partnership marks an exciting advancement in oncology treatments, aiming to provide patients with more effective therapies.

Details of the Agreement

As per the agreement, Tesaro will obtain the worldwide rights to use ALT-B4, Alteogen’s proprietary hyaluronidase enzyme, designed to facilitate the subcutaneous administration of drugs, specifically targeting those typically delivered through intravenous (IV) infusion. This means that patients could potentially have a simpler and more comfortable way to receive their treatments.

In accordance with this collaboration, Alteogen is set to receive an upfront payment of $20 million, with the potential for additional milestone payments amounting up to $265 million based on the successful achievement of specific development, regulatory, and sales milestones. Furthermore, Alteogen will be entitled to royalties stemming from the eventual sales of the commercialized product, highlighting the financial incentives linked to this partnership.

The Significance of Hybrozyme™ Technology

Hybrozyme™ technology represents a groundbreaking advancement in the field of drug administration. By temporarily hydrolyzing hyaluronan in the extracellular matrix, ALT-B4 enables a larger volume of drug administration in a subcutaneous manner. This particular approach is not only expected to improve patient convenience but may also enhance the overall efficacy of treatments by allowing for larger dosages to be administered safely and effectively.

Dr. Tae-Yon Chun, the CEO of Alteogen, expressed enthusiasm about the collaboration, noting that the partnership with Tesaro in the oncology field offers a promising opportunity to expand the application of Hybrozyme™ technology. “We look forward to developing and bringing this potential subcutaneous medicine to market,” he stated, indicating a strong commitment to enhancing patient care within oncology.

About Alteogen Inc.

Established in 2008 and publicly traded on KOSDAQ with the ticker symbol 196170, Alteogen is recognized for its focus on developing novel biologics that include Antibody-Drug Conjugates (ADCs), biobetters, and biosimilars. Their product pipeline showcases clinical-stage long-acting therapeutic proteins utilizing pioneering NexP™-fusion and NexMab™ platform technologies. Furthermore, their Hybrozyme™ technology continues to position Alteogen at the forefront of biopharmaceutical innovation, particularly evident with the development of ALT-B4.

Conclusion

The exclusive agreement between Alteogen and Tesaro is not just a business transaction; it represents a forward leap in the oncology landscape. As drug delivery methods evolve, partnerships like this will be crucial in bringing innovative solutions to patients, potentially transforming the treatment experience for those battling cancer. Stakeholders and patients alike have much to look forward to as this partnership unfolds in the coming years.