Alteogen disclosed on the 27th that it will receive a stepwise technology fee (milestone) of about 21.9 billion won from Merck (MSD) within 30 days. The proceeds are equivalent to 21.3% of the company's previous year sales of 102.9 billion won.
That is because "Keytruda SC," to which Alteogen's subcutaneous formulation-switch technology has been applied, received marketing authorization in Europe. MSD obtained marketing authorization for Keytruda SC from the European Commission (EC) on the 19th.
Keytruda SC is a product that applies Alteogen's human hyaluronidase–based subcutaneous formulation-switch technology. The existing intravenous formulation "Keytruda" required 30 minutes of administration, but the subcutaneous injection can be given once every three weeks in 1 minute or once every six weeks in 2 minutes. It is simpler than intravenous injections that require multiple preparation steps, allowing administration even at nearby clinic-level hospitals.
Previously, Alteogen received a milestone of about 35.1 billion won ($25 million) from MSD following U.S. Food and Drug Administration (FDA) approval for Keytruda SC last month.