Alteogen(196170) said on the 2nd that it signed a technology transfer agreement with Novartis of Switzerland for the development and commercialization of "Hybrozyme®"-based "ALT-B4," a platform technology that converts the intravenous (IV) formulation of biopharmaceuticals into a subcutaneous (SC) formulation.
Under the agreement, Novartis secured exclusive rights to develop and commercialize multiple biopharmaceuticals as subcutaneous formulations using ALT-B4.
However, the parties agreed not to disclose details such as the specific types of drugs covered by the contract and the modalities (routes of therapeutic delivery) to be applied.
ALT-B4 is a recombinant human hyaluronidase developed based on Alteogen's Hybrozyme platform, and is used to convert biopharmaceuticals administered by the conventional intravenous (IV) method into faster and more convenient subcutaneous (SC) formulations by temporarily degrading hyaluronic acid, a major component of the extracellular matrix, to promote the diffusion and absorption of therapeutics.
If all options under the contract are exercised and all development and commercialization milestones are achieved, Alteogen can receive up to $3.223 billion (4.4165 trillion won). After product commercialization, it will also receive separate royalties based on net sales.
Alteogen said this agreement is the fourth ALT-B4 technology transfer deal signed this year. The company expects this agreement to further accelerate the global business expansion of the Hybrozyme platform.
Jeon Tae-yeon of Alteogen said, "Novartis evaluated the feasibility of converting to subcutaneous formulations using ALT-B4 across various modalities prior to signing the agreement," and added, "This partnership is a meaningful achievement that once again proves the technological strength and business potential of Alteogen's Hybrozyme platform."