Sandoz will acquire the global rights to ALT-B4, derived using Alteogen’s Hybrozyme technology, to develop a subcutaneous version of its biosimilar product
Sandoz, Alteogen will develop biosimilar products. (Credit: Michal Jarmoluk from Pixabay)
Korean biotechnology company Alteogen has entered into an exclusive licence agreement with Sandoz, a generic and biosimilars company of Swiss drugmaker Novartis.
Under the terms of the agreement, Sandoz will acquire the global rights to Alteogen’s ALT-B4, to develop a subcutaneous version of its biosimilar product.
ALT-B4 is a unique human recombinant human hyaluronidase enzyme, Alteogen has developed leveraging its Hybrozyme technology.
It works by temporarily hydrolysing the hyaluronan in the extracellular matrix to enable the large volumes of subcutaneous administration of drugs, which are otherwise administered as an IV infusion.
The Swiss biopharmaceutical company also holds an option to license the Hybrozyme technology for two additional products.
Alteogen will receive an upfront payment and is eligible to receive milestone payments upon Sandoz achieving specified development, regulatory and sales milestones.
The company is also eligible to receive tiered royalties on net sales of the product.
In addition, Alteogen will be responsible for regulatory development and commercial supply of ALT-B4 to Sandoz.
The agreement allows Alteogen and Sandoz to collaborate on the development and commercialisation of additional products that Sandoz may undertake to develop.
The two companies will reach separate agreements for the two option products.
Alteogen chief executive officer Soon Jae Park said: “We are pleased to enter into this agreement with a pioneering company like Sandoz, which has a global presence and an unparalleled track record of bringing high-quality biosimilars to market.
“We look forward to a productive and constructive collaboration bringing multiple products to the market for the benefit of patients. Both companies share a belief in the necessity of increasing patient access to high-quality biosimilars.”
Alteogen is a biotechnology company focused on the development and commercialisation of novel biologics such as Antibody-Drug Conjugates (ADCs) and biobetters and biosimilars.