“We are pleased that a global leader in the development and commercialization of novel therapeutics has elected to partner with us,” said Dr. Soon Jae Park, Chief Executive Officer of Alteogen. “In conjunction with the other global deal we announced in December 2019, this agreement continues to validate the potential of our technology in enabling convenient treatment options for patients.”

Under the terms of the agreement, Alteogen has granted worldwide rights for TTPC to develop multiple products in combination with ALT-B4. Alteogen will receive an initial payment of USD 16 Million and is also eligible to receive additional milestones upon TTPC’s achievement of specified development, regulatory and sales milestones, totaling up to USD 3.865 Billion for the initial products under this agreement. TTPC may in the future elect to develop additional products in combination with ALT-B4 upon achievement of the pre-specified milestone. Alteogen will be responsible for regulatory development and commercial supply of ALT-B4.

About ALT-B4

ALT-B4 is Alteogen’s proprietary recombinant human hyaluronidase enzyme developed utilizing the Hybrozyme™ technology. ALT-B4 can enable the large volume subcutaneous administration of drugs that are typically administered as an IV injection. ALT-B4 does this by temporarily hydrolyzing hyaluronan in the extracellular matrix.

About Alteogen Inc.

Alteogen lnc. is a 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 develops Herceptin SC and Eylea biosimilars. The company was founded in 2008 and listed in KOSDAQ (196170.KQ).

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