Alteogen headquarters [Alteogen]
Alteogen headquarters [Alteogen]

Alteogen, a biotech platform company, has signed an exclusive licensing agreement with a global pharmaceutical company for the development and commercialization of subcutaneous biopharmaceutical formulations using its recombinant human hyaluronidase ALT-B4.

Alteogen announced Wednesday that it had concluded a contract granting the partner company exclusive rights to apply ALT-B4 — based on its Hybrozyme® platform technology — to one biopharmaceutical product for development and commercialization as a subcutaneous formulation.

The total deal is valued at up to $365 million, including an upfront payment and milestone payments tied to development, regulatory approval and commercialization. Payments are made in stages based on development and commercial outcomes, and the actual amount received may be lower if clinical trials fail or post-commercialization sales fall short. Sales royalties at a set percentage of net revenue generated after commercialization will be received separately.

ALT-B4 — generically known as berahyaluronidase alfa — is a proprietary enzyme technology that converts intravenously administered biopharmaceuticals into high-volume subcutaneous formulations. It temporarily breaks down hyaluronan in subcutaneous tissue to promote drug absorption and diffusion, significantly improving patient convenience.

The arrangement is considered a high-value biotech business model that maximizes patient access to treatment while securing a stable royalty revenue base through long-term partnerships with major global pharmaceutical companies.

"It is meaningful to have signed a licensing agreement with a partner that has led the development of innovative treatments in areas of high unmet medical need," Alteogen CEO Jeon Tae-yeon said. "We will continue to expand our global partnerships to accelerate the growth of our platform business."


silverpaper@heraldcorp.com