Alteogen Inc. (KOSDAQ:196170) announced that the company has entered into an exclusive license agreement with Daiichi Sankyo (TSE: 4568). Under the terms of the agreement, Daiichi Sankyo will acquire world-wide rights to use ALT-B4, Alteogen's novel hyaluronidase utilizing Hybrozyme™ Technology, to develop and commercialize a subcutaneous version of ENHERTU^® (fam-trastuzumab deruxtecan-nxki), a HER2 directed antibody drug conjugate (ADC) that has been jointly developed and commercialized by Daiichi Sankyo and AstraZeneca.

Alteogen will receive an upfront payment and is eligible to receive milestone payments upon Daiichi Sankyo's achievement of specified development, regulatory and sales milestones. Additionally, Alteogen will be entitled to receive tiered royalties on the sales of the commercialized product. Alteogen will be responsible for clinical and commercial supply of ALT-B4 to Daiichi Sankyo.

"Our collaboration with Daiichi Sankyo is groundbreaking in the ADC field, being the first to use hyaluronidase for a subcutaneous ADC marks a significant milestone in the oncology field, and we look forward to our collaboration with Daiichi Sankyo in bringing this product to the market." said Dr. Soon Jae Park, Chief Executive Officer of Alteogen.