Alteogen jumps as it inks licence deal with Daiichi Sankyo
South Korea’s Alteogen (Kosdaq: 196170) has signed an exclusive licensing agreement with Japanese pharmaceutical company Daiichi Sankyo (TYO: 4568) for its human hyaluronidase, ALT-B4.
The two companies will use ALT-B4 to develop a subcutaneous version of the antibody-drug conjugate (ADC) cancer treatment Enhertu (trastuzumab deruxtecan). The news sent Alteogen’s shares up 15% to 437,000 won
The total amount of this agreement is 300 million dollars, with a contract fee of 20 million dollars. In addition, the company will receive a set royalty upon achieving sales milestones after marketing.
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