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Alteogen Signs KRW4.4 Trillion Option, Licensing Deal with Novartis for Subcutaneous Injections

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Alteogen (KOSDAQ:196170) signed a 4.4 trillion won option and licensing deal with Novartis to develop and commercialize subcutaneous injection drug formulations using its ALT-B4 technology, according to a Wednesday release.

The South Korean biotechnology company said that, as part of the deal, Novartis will secure exclusive rights, through multiple options, to develop and commercialize subcutaneous formulations for multiple products using ALT-B4.

The company will receive up to 4.4 trillion won in milestone payments plus royalties on net sales after commercialization if all options are exercised and all development and commercialization milestones are met.

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