Alteogen Enters into a Non-exclusive License Agreement with a Global Pharmaceutical Company for Use of its Hybrozyme™ Technology to Enable Subcutaneous Administration of Biologic Products
December 02, 2019 at 06:30 pm IST
Alteogen Inc. announced that it has entered into a non-exclusive global license agreement with a top 10 Global Pharmaceutical Company (GPC) to use ALT-B4, Alteogen’s novel hyaluronidase-derived technology called Hybrozyme™ technology. Under the terms of the agreement, Alteogen has granted worldwide rights for GPC to develop and commercialize multiple products in combination with Hybrozyme™ technology while Alteogen will be responsible for the clinical and commercial supply of ALT-B4 materials. Alteogen will receive an initial payment of USD 13 million and is also eligible to receive additional milestones upon GPC’s achievement of specified development, regulatory and sales milestones, totaling up to USD 1.373 billion.