South Korea based Alteogen Inc. has entered into an exclusive license agreement with Tesaro, Inc., a subsidiary of GSK. Under the terms of the agreement, Tesaro will acquire world-wide rights to use ALT-B4, Alteogen's novel hyaluronidase utilising Hybrozyme™ technology, for the development and commercialisation of a subcutaneous formulation of dostarlimab, a programmed death receptor-1 (PD-1) blocking antibody.
Alteogen will receive an upfront payment of $20 million and is eligible to receive milestone payments up to $265 million upon achievement of specified development, regulatory and sales milestones.
Additionally, Alteogen will be entitled to receive royalties on the sales of the commercialised product. Alteogen will be responsible for clinical and commercial supply of ALT-B4 to Tesaro.
ALT-B4 is Alteogen's proprietary human recombinant hyaluronidase enzyme developed utilising Hybrozyme™ technology. ALT-B4 can enable the large volume subcutaneous administration of drugs that are typically administered as an IV infusion. ALT-B4 does this by temporarily hydrolyzing hyaluronan in the extracellular matrix.
