AstraZeneca has entered an exclusive licence agreement with bio-platform company Alteogen, involving the latter’s hyaluronidase utilising Hybrozyme platform technology, ALT-B4, to develop subcutaneous formulations of several oncology assets.
AstraZeneca will obtain worldwide rights to use the platform to create and commercialise the drug formulations.
Go deeper with GlobalData
AstraZeneca and its wholly owned subsidiary MedImmune will leverage the Hybrozyme platform technology.
ALT-B4 therapy facilitates the large-volume subcutaneous drug administration usually given via intravenous infusion by temporary hydrolysation of hyaluronan in the extracellular matrix.
Alteogen will supply the therapy for both clinical and commercial purposes.
In addition to an upfront payment, the company will receive further payments from AstraZeneca based on development, regulatory and sales milestones.
Alteogen will earn royalties on the sales of products commercialised under this agreement.
AstraZeneca oncology chief development officer and chief medical officer Cristian Massacesi stated: “We look forward to collaborating with Alteogen on several assets in our portfolio with the goal of bringing new subcutaneous options to patients that can transform the way cancer care is delivered.”
According to Fierce Pharma, Alteogen announced two distinct agreements on the Korea Exchange, amounting to $1.35bn. These include a $25m upfront payment with up to $725m in milestone payments and another agreement with a $20m upfront payment and potential milestones of $580m.
In a separate development, AstraZeneca has announced a definitive agreement to acquire EsoBiotec for $1bn, a move set to progress cell therapy offerings.
The transaction involves an initial $425m payment upon the deal’s closure, with up to $575m in additional payments contingent on the achievement of specific development and regulatory milestones.
The transaction will be finalised in the second quarter of 2025, pending customary closing conditions and regulatory approvals. EsoBiotec will operate as AstraZeneca’s wholly owned subsidiary, with its base in Belgium.
In January 2023, Alteogen signed an exclusive licence agreement with Sandoz for the development of biosimilar products enabled by the Hybrozyme technology.
