Alteogen Receives USD 20 Million Upfront Payment from Daiichi Sankyo
Aiming to Provide an Effective Platform for Potential Partners Interested in SC Formulation Development
Alteogen announced that it has received an upfront payment of USD 20 million (approximately KRW 28 billion) from Daiichi Sankyo.
Last month, Alteogen granted an exclusive license for its hyaluronidase technology, ALT-B4, to Daiichi Sankyo. The technology is expected to be used in the development of a subcutaneous (SC) formulation of Daiichi Sankyo’s antibody-drug conjugate (ADC) Enhertu.
When the agreement was disclosed, Alteogen stated that the upfront payment would be received within 30 days. A company representative noted, “Unlike most cases where payments are made at the last moment of the agreed timeframe, Daiichi Sankyo finalized preparations ahead of schedule, allowing us to receive the payment about a week earlier.”
The representative added, “Daiichi Sankyo’s swift payment underscores the trust they have in us. We plan to fully support their clinical development plans by ensuring seamless processes in quality control, regulatory compliance, and production.”
Alteogen also aims to strengthen its global competitiveness in the hyaluronidase sector by providing an efficient platform for potential partners interested in developing SC formulations of their existing products.