Alteogen said Sept. 2 that it has signed an option and licensing agreement with global pharmaceutical company Novartis for the development and commercialization of subcutaneous (SC) drug formulations based on ALT-B4, which incorporates Alteogen’s Hybrozyme technology.
Under the agreement, Novartis will secure exclusive rights through multiple options to develop and commercialize subcutaneous formulations for multiple products using Alteogen’s ALT-B4.
ALT-B4 is a proprietary recombinant human hyaluronidase developed based on Alteogen’s Hybrozyme platform technology.
Hyaluronidase is an enzyme that temporarily breaks down hyaluronic acid in skin tissue, helping drugs administered alongside it spread and be absorbed smoothly through subcutaneous tissue.
The technology can enable some biologic drugs that are currently administered intravenously to be converted into subcutaneous formulations, reducing administration time and improving patient convenience.
ALT-B4 temporarily breaks down hyaluronic acid, a major component of the extracellular matrix, thereby rapidly and efficiently promoting the diffusion and absorption of therapies administered alongside it.
The agreement demonstrates Novartis’ continued commitment to innovation aimed at providing patients with innovative treatment options and improving treatment convenience.
If all options under the agreement are exercised and all development and commercialization milestones are achieved, Alteogen could receive up to $3.223 billion, with royalties on net sales after product commercialization to be paid separately.
Tae-yeon Jeon, CEO of Alteogen, said, “Prior to signing the agreement, Novartis conducted evaluations on converting various modalities into subcutaneous formulations using ALT-B4. This partnership is a meaningful achievement that once again demonstrates the technological capabilities and commercial potential of Alteogen’s Hybrozyme platform technology.”