On January 7, 2021 Alteogen Inc. (KOSDAQ:196170) reported that it has entered into an exclusive license agreement with Intas Pharmaceuticals Ltd. to use ALT-B4, Alteogen’s novel hyaluronidase – derived utilizing the Hybrozyme technology – to develop and commercialize two products (Press release, Alteogen, JAN 7, 2021, View Source [SID1234573668]).
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Under the terms of the agreement, Alteogen has granted worldwide rights, except for a few Asian countries, for Intas to develop two products in combination with ALT-B4. Alteogen will receive an initial payment of USD 6 Million and is also eligible to receive additional milestones upon Intas’ achievement of specified development, regulatory and sales milestones, totaling up to USD 109 Million. In addition, Alteogen will be entitled to receive a tiered royalty ranging from mid-single digit to low double digit on sales of commercialized products. Alteogen will be responsible for regulatory development and commercial supply of ALT-B4 to Intas.
"We are pleased to enter into this agreement with Intas, a fast growing and leading pharmaceutical company," said Dr. Soon Jae Park, Chief Executive Officer of Alteogen, "we look forward to collaborating with Intas in bringing two products to the market for the benefit of patients".
"We are truly excited by this partnership, which brings together the expertise and heritage of Alteogen with Intas’ strong development and manufacturing capabilities as well as extensive commercial reach," said Mr. Binish Chudgar, Vice Chairman of Intas Pharmaceuticals, "this agreement underlines our vision and commitment to increasing access to life-changing medicines that can make a real difference to patient lives."
About ALT-B4
ALT-B4 is Alteogen’s proprietary human recombinant human hyaluronidase enzyme developed utilizing the Hybrozyme technology. ALT-B4 can enable the large volume subcutaneous administration of drugs that are typically administered as an IV injection. ALT-B4 does this by temporarily hydrolyzing hyaluronan in the extracellular matrix.