UK-based pharmaceutical giant AstraZeneca (NASDAQ: AZN) has entered into a licensing agreement with South Korea-headquartered Alteogen Inc. to develop and commercialize subcutaneous versions of an undisclosed cancer drug using Alteogen’s recombinant hyaluronidase enzyme, ALT-B4. This collaboration aims to expand AstraZeneca’s oncology portfolio by leveraging Alteogen’s innovative technology for improved drug administration.
Deal Structure and Financial Terms
Under the terms of the agreement, AstraZeneca will pay Alteogen an upfront fee of USD25 million. The company is also committed to making milestone payments related to development, regulatory approval, and sales, with the total potential reaching up to USD725 million. Additionally, AstraZeneca will pay sales-based royalties to Alteogen.
Technology and Development Responsibilities
ALT-B4, developed using Alteogen’s Hybrozyme technology, enables the temporary hydrolysis of hyaluronan in the extracellular matrix. This allows for the subcutaneous administration of drugs that are typically delivered via intravenous infusion, potentially improving patient convenience and treatment efficiency. Alteogen will be responsible for the clinical and commercial supply of ALT-B4 under the agreement.-Fineline Info & Tech
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