Alteogen said that ALT-B4 would be mixed with other biomedicine to develop and commercialize new products. The front payment is about 15.3 billion won ($12.9 million) and the contract's total value will be about 1.62 trillion won, including milestone payments which are paid when each milestone is achieved in clinical trials and commercialization.
Hyaluronidases, a family of enzymes that catalyze the degradation of hyaluronic acid, increase tissue permeability. They are used in medicine in conjunction with other drugs to speed their dispersion and delivery.
ALT-B4 uses a protein engineering technique called "Hybrozyme" and has improved biochemical properties while maintaining the inherent function of the previously known human hyaluronidase. KTB Investment & Securities said the deal with one of the world's 10 largest pharmaceutical companies demonstrated Alteogen's technical skills and raised the possibility of additional contracts.
"We are pleased to conclude a contract with a global pharmaceutical company for ALT-B4," said Alteogen CEO Park Soon-jae. "This contract has recognized the potential value of our technology." Park's company has patented a subcutaneous injectable formulation for ALT-LS2 that incorporates human hyaluronidase technology into its Herceptin biosimilar for breast cancer therapy. Herceptin has been developed by Genentech, a subsidiary of Swiss pharmaceutical giant Roche.
In June, Alteogen gained approval in South Korea to initiate a clinical trial for its aflibercept biosimilar, ALT‑L9, which is used to treat eye diseases, to evaluate the safety, efficacy and pharmacokinetics in patients with wet age-related macular degeneration.
Alteogen develops long-acting therapeutic proteins, therapeutic antibodies and monoclonal antibody biosimilars, with its portfolio including next-generation biobetters, an improved version of existing products, which may have a change in structure that makes it safer or more effective or a change in the formulation that makes it easier to administer or allows fewer courses of treatment.
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