Alteogen(196170) rose sharply early in the session on the news on the 6th that it signed an additional technology export deal for a subcutaneous (SC) formulation conversion platform.
As of 9:29 a.m. on the day, Alteogen was trading on the KOSDAQ market at 283,000 won, up 16,000 won (5.99%) from the previous trading day.
Alteogen said it signed an exclusive license agreement with a global pharmaceutical company for the development and commercialization of a biopharmaceutical SC formulation using its Hybrozyme platform technology. Alteogen did not disclose the counterparty or product name due to confidentiality obligations under the contract.
The deal is worth up to $365 million (about 521.9 billion won), including an upfront payment and milestones tied to development, approval and commercialization. After the product launches, Alteogen will receive separate sales royalties based on revenue.
ALT-B4 is a platform technology that helps convert biopharmaceuticals administered by intravenous (IV) injection into SC formulations. It can shorten dosing time and improve patient convenience, drawing interest from global pharmaceutical companies.