Alteogen enters into an Exclusive License Agreement to Develop and Commercialize Subcutaneous ENHERTU® Enabled by Alteogen's Hybrozyme™ Technology
Rhea-AI Summary
Alteogen has entered into an exclusive license agreement with Daiichi Sankyo for the worldwide rights to use ALT-B4, Alteogen's novel hyaluronidase utilizing Hybrozyme™ Technology. The technology will be used to develop and commercialize a subcutaneous version of ENHERTU®, a HER2 directed antibody drug conjugate. The agreement includes an upfront payment and potential milestone payments for development, regulatory, and sales achievements, plus tiered royalties on commercialized product sales. Alteogen will be responsible for clinical and commercial supply of ALT-B4 to Daiichi Sankyo.
Positive
- Secured worldwide licensing agreement with major pharmaceutical company Daiichi Sankyo
- Will receive upfront payment and milestone-based payments
- Entitled to receive tiered royalties on future product sales
- Secured commercial supply agreement for ALT-B4
Negative
- None.
News Market Reaction
On the day this news was published, DSNKY gained 0.85%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
DAEJEON, South Korea, Nov. 10, 2024 /PRNewswire/ -- Alteogen Inc. (KOSDAQ:196170) announced today that the company has entered into an exclusive license agreement with Daiichi Sankyo (TSE: 4568). Under the terms of the agreement, Daiichi Sankyo will acquire world-wide rights to use ALT-B4, Alteogen's novel hyaluronidase utilizing Hybrozyme™ Technology, to develop and commercialize a subcutaneous version of ENHERTU® (fam-trastuzumab deruxtecan-nxki), a HER2 directed antibody drug conjugate (ADC) that has been jointly developed and commercialized by Daiichi Sankyo and AstraZeneca.
Alteogen will receive an upfront payment and is eligible to receive milestone payments upon Daiichi Sankyo's achievement of specified development, regulatory and sales milestones. Additionally, Alteogen will be entitled to receive tiered royalties on the sales of the commercialized product. Alteogen will be responsible for clinical and commercial supply of ALT-B4 to Daiichi Sankyo.
"Our collaboration with Daiichi Sankyo is groundbreaking in the ADC field, being the first to use hyaluronidase for a subcutaneous ADC marks a significant milestone in the oncology field, and we look forward to our collaboration with Daiichi Sankyo in bringing this product to the market." said Dr. Soon Jae Park, Chief Executive Officer of Alteogen.
About ALT-B4
ALT-B4 is Alteogen's proprietary human recombinant hyaluronidase enzyme developed utilizing Hybrozyme™ technology. ALT-B4 can enable the large volume subcutaneous administration of drugs that are typically administered as an IV infusion. ALT-B4 does this by temporarily hydrolyzing hyaluronan in the extracellular matrix.
About Alteogen Inc.
Alteogen Inc. is a South Korea-based biopharmaceutical company that focuses on the development and commercialization of novel biologics such as Antibody-Drug Conjugates (ADCs), biobetters, and biosimilars. Alteogen's portfolio includes clinical-stage long-acting therapeutic proteins and next-generation ADCs, developed by its proprietary NexP™-fusion and NexMab™ platform technology, respectively. It also developed a proprietary recombinant human hyaluronidase enzyme utilizing Hybrozyme™ technology, which enables the large volume subcutaneous administration of drugs that are typically administered as an IV infusion. The company was founded in 2008 and listed in KOSDAQ (196170.KQ).
About Daiichi Sankyo
Daiichi Sankyo is an innovative global healthcare company contributing to the sustainable development of society that discovers, develops and delivers new standards of care to enrich the quality of life around the world. With more than 120 years of experience, Daiichi Sankyo leverages its world-class science and technology to create new modalities and innovative medicines for people with cancer, cardiovascular and other diseases with high unmet medical need. For more information, please visit www.daiichisankyo.com.
Contacts
US: Vivek Shenoy, Ph.D., MBA
Chief Business Officer
Phone: +1 805 570 8998
E-mail: vivek_shenoy@alteogen.com
ROW: Tae-Yon Chun, Ph.D., J.D.
EVP/Corporate Alliance Officer
Phone: +82 042 867 8861
E-mail: alliance@alteogen.com
FAQ
What is the purpose of Alteogen's license agreement with Daiichi Sankyo?
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What is Alteogen's role in the ENHERTU® subcutaneous development?
