South Korea’s Arteogen ensnared another big pharma partner, Biogen, after luring GSK, which topped this year’s list with its subcutaneous delivery technology.
Biogen will give Arteogen $20 million upfront to support the development of subcutaneous formulations of two unnamed biologics using Arteogen’s Hybrozyme technology and its recombinant human hyaluronidase ALT-B4.
As part of the license agreement, Alteogen will receive an additional $10 million if Biogen begins development of the second product, and the company is eligible to receive up to an additional $549 million related to potential development and regulatory milestones, as well as combined sales targets for the two products.
The company will also receive royalties on net sales of promising sub-Q drugs if they are brought to market, the company said in a March 25 press release.
As part of the agreement, Biogen also has the option to develop a third, unnamed product leveraging Arteogen’s technology.
ALT-B4, also known as vera hyaluronidase alpha, is a recombinant human hyaluronidase developed using Alteogen’s Hybrozyme platform.
The company’s hyaluronidase enzyme is designed to enable “rapid and efficient dispersion and absorption of co-administered therapeutic agents” and help convert biologics typically administered via intravenous infusion into subcutaneous formulations, Arteogen said in a release statement.
“We are very excited to enter into this partnership and look forward to working together to advance innovative treatments for patients,” Taeyong Chun, CEO of Arteogen, said of the partnership with Biogen in a statement Wednesday.
The partners have not disclosed which biogenic drugs they will reformulate for subcutaneous delivery.
Earlier this year, Alteogen brought GSK into its ALT-B4 orbit, partnering under an additional $20 million upfront agreement to specifically develop a subcutaneous formulation of the British drugmaker’s checkpoint inhibitor Gemperi (dostarimab). Arteogen expects to earn up to an additional $265 million from agreements related to development, regulatory and sales milestones, and will again receive royalties once the reformulated product is commercialized.
Since 2024, Arteogen has similar agreements with Daiichi Sankyo and others for the antibody-drug conjugate Enhertz in collaboration with AstraZeneca, and with AZ for a broader range of potential sub-Q oncology products.
