Novartis and Alteogen, a Daejon, South Korea-based bio/pharmaceutical company developing antibody drug conjugates, biobetters, and biosimilars, have entered into an option and license agreement for the development and commercialization of subcutaneous products using Alteogen’s proprietary recombinant human hyaluronidase in a deal worth up to $3.2 billion. 

Under the agreement, Novartis will have multiple options to obtain exclusive rights to develop and commercialize subcutaneous formulations for multiple Novartis products using Alteogen’s ALT-B4 (berahyaluronidase alfa), a recombinant human hyaluronidase developed using Alteogen’s Hybrozyme platform technology, which enables the large-volume subcutaneous administration of drugs that are typically administered as an intravenous infusion. By temporarily depolymerizing hyaluronan in the extracellular matrix, ALT-B4 is designed to facilitate dispersion and absorption of co-administered therapeutics.  

If all options are exercised and all milestones are achieved, Alteogen would be eligible to receive up to $3.2 billion, including option exercise fees and development and commercial milestone payments, as well as royalties on net sales of products commercialized under the agreement. 

Source: Alteogen