Prime Highlights:
- Alteogen signs an option deal with a major global pharmaceutical company for its ALT-B4 technology, marking a key step in expanding its licensing business.
- The company is also close to finalizing another licensing agreement, showing its growth strategy and increasing global presence.
Key Facts:
- ALT-B4 enables conventional drugs to be delivered via subcutaneous injections, improving ease and convenience for patients.
- Alteogen has previously licensed its Hybrozyme platform, which ALT-B4 is based on, to six major pharma companies, including MSD, AstraZeneca, and Daiichi Sankyo.
Background:
South Korean biotech company Alteogen announced on Friday that it has signed an option deal with a major global pharmaceutical company for its ALT-B4 technology, which allows regular drugs to be given as subcutaneous injections.
The company is keeping the partner and product confidential for competitive reasons, but the deal is an important step for Alteogen in growing its licensing business. Under the agreement, the pharmaceutical company will receive detailed data to start developing ALT-B4 with one of its existing drugs. Alteogen will earn an option fee from this arrangement, and the partner will have until 2026 to decide whether to pursue a full license, contingent on clinical progress.
ALT-B4, also known as berahyaluronidase alfa, is designed to temporarily break down hyaluronic acid in the skin, allowing large-volume drugs to be delivered through subcutaneous injection.
The company is also close to finalizing another licensing deal with a new partner. These moves show Alteogen’s plan to grow globally and make the most of its drug delivery technologies.
Alteogen’s shares were trading at 435,000 won ($300.5) as of 10:07 a.m. Friday, up 1.05 percent, signaling positive investor sentiment.
Experts see this deal as a sign that Alteogen’s ALT-B4 technology is useful and could make giving medicines easier. By working with large pharmaceutical companies, Alteogen is expanding globally and getting its treatments to patients more quickly.
ALT-B4 is attracting interest from top pharma companies, showing that Alteogen can make giving medicines easier and more convenient for patients.
