Alteogen has actively introduced another subcutaneous (SC) formulation conversion technology different from ALT-B4. They have abruptly terminated the contract utilizing ALT-B4 with a global big pharma and agreed to add more items to utilize the new subcutaneous formulation conversion technology.
Alteogen announced on the 30th that it has signed a technology licensing agreement with France's Sandoz for hyaluronidase development and multiple biosimilar products using it. Previously, in 2022, the two companies signed a technology agreement to utilize Alteogen's hyaluronidase-applied subcutaneous formulation conversion technology ALT-B4 for one product under development by Sandoz. The contract amount and milestones totaled $145 million (approximately 183.9 billion KRW).
However, with this new contract, the previous agreement has been terminated and replaced, and the two companies agreed that Sandoz will develop multiple subcutaneous biosimilar formulations using another hyaluronidase technology developed by Alteogen, not ALT-B4.
Alteogen explained this contract as "proceeding according to Alteogen's business strategy to strengthen the hyaluronidase pipeline and expand applicable biosimilar products." Specific contract size and targets were not disclosed. In particular, they stated, "We agreed to apply to more products compared to the existing contract," and "This will strengthen the partnership with Sandoz and enhance Alteogen's significance in the subcutaneous biosimilar formulation field."
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