The cooperation project between KISSEI and ALTEOGEN has been progressing steadily.
ALTEOGEN Inc. (CEO: Soon jae Park), a bio pharmaceutical company, announced that it has achieved the 2nd milestone of EYLEA® (aflibercept) biosimilar which is under development by cooperation with KISSEI Pharmaceutical Co., Ltd. (CEO: Mutsuo Kanzawa) of Japan.
At their Joint Development Committee on 27th March, ALTEOGEN and KISSEI confirmed the 2nd milestone of the EYLEA® biosimilar development project which is written in their co-development agreement, and ALTEOGEN will receive the 2nd milestone fee from KISSEI.
In February 2014, ALTEOGEN and KISSEI have agreed on co-development of biosimilar of EYLEA® for wet age-related macular degeneration (WAMD) which is sold about USD 2 bil globally in 2013 after having been launched in 2012. The sales of EYLEA® are growing sharply and expected to grow more because it is being approved for various vision loss like central retinal vein occlusion (CRVO) macular edema, diabetic macular edema (DME) and so on.
KISSEI is a Japanese pharmaceutical company with sixty eight years of history, specialized in the field of metabolism, urology and ophthalmology, and has been further strengthening its biopharmaceutical business through the strategic cooperation with ALTEOGEN.
ALTEOGEN is a biopharmaceutical company listed on KOSDAQ in December 2014 and already cooperating with a Brazilian company in R&D and marketing of biosimilars for the Latin America countries. With this cooperation project with KISSEI, it is diversifying its pipelines and target markets.