• Alteogen grants exclusive rights to develop and commercialize a subcutaneous biologic product using Hybrozyme^™-based hyaluronidase ALT-B4
• Alteogen is eligible to receive up to US$365 million, including an upfront payment and development, regulatory and sales milestone payments
• Additional royalties to be paid based on net sales following commercialization

Alteogen Inc. (KOSDAQ: 196170), a leading biopharmaceutical company specializing in platform technologies, announced that it has entered into an exclusive license agreement with a global pharmaceutical company for the development and commercialization of a subcutaneous (SC) biologic product utilizing ALT-B4 powered by Alteogen's Hybrozyme^™ technology.

Under the terms of the agreement, the counterparty will acquire exclusive worldwide rights to develop and commercialize a subcutaneous formulation of a biologic product using Alteogen's ALT-B4 (berahyaluronidase alfa).

Alteogen is eligible to receive up to US$365 million, including an upfront payment and development, regulatory and sales milestone payments. In addition, Alteogen will be entitled to receive royalties based on net sales of the product commercialized under the agreement.

"We are pleased to enter into this license agreement with a global leader with a long-standing commitment to advancing innovative therapies for patients with serious unmet medical needs," said Tae-Yon Chun, Ph.D., CEO of Alteogen. "We will continue to accelerate the growth of our platform technology through strategic global partnerships," he added.