Alteogen signs global license contact with Sandoz

Alteogen said Friday that it has signed a technology export contract with Sandoz AG regarding one item applied by human recombinant hyaluronidase, ALT-B4, made from the SC (subcutaneous) formulation-changing platform, Hybrozyme.

The contract preferentially provides Sandoz with the exclusive right of ALT-B4 on the one item to be developed by Sandoz. Sandoz will also have options to make additional contracts on two more items. Alteogen will be responsible for manufacturing and supplying ALT-B4 accompanying the process, the Korean biopharmaceutical company said.

If Alteogen and Sandoz sign additional contracts on new items, they can do so on similar terms as this one, except for the total contract amount.

The announced amount of 183.9 billion won ($145.9 million) comprises contract money and milestones receivable according to the clinical trial stage, sales permission, and actual performance.

“This is an important opportunity to further the expandability of ALT-B4 through the exclusive contract signing with global biosimilar maker Sandoz to develop blockbuster SC-formation products,” Alteogen CEO Park Sun-jae said.