Alteogen Signs License Agreement with AstraZeneca for Subcutaneous Oncology Therapy Development

Grants AstraZeneca rights to develop subcutaneous formulations of multiple oncology assets using ALT-B4 based on Hybrozyme™ platform technology
 
Alteogen Inc. (KOSDAQ:196170), a leading bio-platform company, announced entering into a license agreement with  MedImmune LLC and MedImmune Ltd, wholly owned subsidiaries of AstraZeneca to leverage its Hybrozyme™ platform technology for developing subcutaneous formulations of oncology therapies. Under this agreement, Alteogen grants AstraZeneca exclusive global rights to develop and commercialize subcutaneous formulations for multiple oncology assets.

The deal encompasses an upfront payment to  Alteogen and additional  payments tied to development, regulatory, and sales-related milestones. Alteogen will also receive royalties on the sales of the  commercialised products.

Alteogen has previously focused on product-specific exclusive license agreements, rather than target-exclusive deals, to advance subcutaneous therapies using hyaluronidase. The company believes this approach will prove effective, especially as the first product utilizing the Hybrozyme platform technology approaches its market launch.

Dr. Park Soon-jae, CEO of Alteogen, commented, "Partnering with AstraZeneca, a global leader in innovative oncology therapies, marks a significant step forward for our company. This agreement was finalized after due diligence, including assessments of substance stability and patent rights. We are confident that this collaboration will accelerate the development of treatment options that enhance the quality of life for patients."

Cristian Massacesi, Chief Medical Officer and Oncology Chief Development Officer AstraZeneca, said: "We are dedicated to advancing new medicines for people with cancer and that includes new methods of delivery which are more convenient for patients, physicians and healthcare systems. We look forward to collaborating with Alteogen on several assets in our portfolio with the goal of bringing new subcutaneous options to patients that can transform the way cancer care is delivered."

Alteogen's proprietary Hybrozyme™ platform technology enabled the development of the recombinant hyaluronidase. To date, Alteogen has secured technology export agreements with six global companies, including this latest deal. The company continues to strengthen its intellectual property portfolio by expanding the rights associated with ALT-B4.

 

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