· Alteogen is currently developing ALT-L9, a biosimilar of Eylea (Aflibercept) with its strategic alliance partner, Kissei Pharmaceutical of Japan.
· Global market size for Eylea, a drug for age-related macular degeneration, is up to USD 5 billion as of 2016. Number of patients are estimated to be 240 million people around the world as of 2013. Along with aging population, this number is expected to increase by threefold around 2025.
· While Eylea is a biologic with high market growth potential, it is a quite expensive therapy. Therefore, launching of a less expensive biosimilar will enable the market to increase by reaching to more patients who could not afford Eylea previously.
· Alteogen successfully completed the GLP pre-clinical trials for ALT-L9 in the US, and is currently preparing to initiate the phase I clinical trials.