#South Korea #Biogen #Daejeon #Alteogen #Hybrozyme

Alteogen and Biogen's Collaborative Agreement

Alteogen Inc., a prominent biopharmaceutical company based in South Korea, has recently entered into a significant exclusive licensing agreement with the renowned global biotechnology firm Biogen. This collaboration focuses on the development and commercialization of subcutaneous formulations utilizing Alteogen's proprietary Hybrozyme™ technology, specifically for biologic products employing ALT-B4 (berahyaluronidase alfa).

The Terms of the Agreement

Under the new partnership, Biogen has been granted exclusive rights to develop and market two biologic products that leverage the ALT-B4 technology. As part of this deal, Alteogen will receive an upfront payment of $20 million and can potentially earn an additional $10 million upon the initiation of the second product's development. Moreover, the agreement allows Alteogen to collect up to $549 million in milestone payments related to development, regulatory approvals, and sales, as the collaboration progresses. Once the products are commercialized, Alteogen is entitled to royalties based on the net sales of these formulations.

Additionally, the agreement includes an option for Biogen to develop a third product, showcasing the potential for future advancements in biologics that could benefit from this innovative partnership.

CEO's Enthusiasm

Tae-Yon Chun, CEO of Alteogen, expressed his excitement about the collaboration, stating, “Biogen is a global biotechnology company leading innovation with strong research and development capabilities. We are very pleased to enter into this partnership and look forward to advancing innovative therapies together for patients.” Such enthusiasm highlights the expected impact of this partnership on the future of biologic treatments.

ALT-B4 and Its Significance

The ALT-B4 biologic is a proprietary recombinant human hyaluronidase developed through the Hybrozyme™ platform. This groundbreaking technology allows for the conversion of traditional intravenous (IV) biologics into convenient subcutaneous (SC) formulations. By utilizing ALT-B4, Alteogen enables the temporary depolymerization of hyaluronan in the extracellular matrix. This process dramatically improves the dispersion and absorption of therapeutic agents that are administered simultaneously, thus enhancing treatment efficacy and patient experience.

About Alteogen

Alteogen Inc. has made significant strides in the biopharmaceutical industry since its establishment in 2008. The company has gained recognition for its focus on developing commercial biologics, including Antibody-Drug Conjugates (ADCs), biosimilars, and biobetters. Alongside its proprietary NexP™-fusion and NexMab™ platform technologies, Alteogen's innovative Hybrozyme™ technology emphasizes the organization's commitment to improving patient care through state-of-the-art medical solutions.

Alteogen continues to build its portfolio with clinical-stage therapeutic proteins and next-generation ADCs, contributing to advancements in medicine across various indications.

Conclusion

The collaboration between Alteogen and Biogen not only signifies a crucial step in the biopharmaceutical industry but also highlights the potential for developing subcutaneous biologics that improve patient experiences. As both companies move forward with this partnership, the healthcare landscape could see transformative changes in how these biologics are administered and commercialized, marking a critical point in the journey of innovative healthcare solutions.