Alteogen, a Kosdaq-listed biotech firm, has struck an exclusive licensing deal with AstraZeneca’s U.K.-based biologics R&D unit, MedImmune, to develop and commercialize a subcutaneous version of an undisclosed cancer drug using its recombinant hyaluronidase enzyme, ALT-B4.
Alteogen secures a $750 million licensing deal with AstraZeneca’s MedImmune to develop a subcutaneous cancer drug using its ALT-B4 enzyme.
Alteogen secures a $750 million licensing deal with AstraZeneca’s MedImmune to develop a subcutaneous cancer drug using its ALT-B4 enzyme.
The agreement, signed Saturday, includes a $25 million upfront payment and up to $725 million in milestone payments, bringing the total potential value -- excluding royalties -- to $750 million. Alteogen disclosed the terms in a regulatory filing Monday.
Under the deal, Alteogen will receive the upfront payment within 30 days of contract execution. Milestone payments are tied to clinical, regulatory, and commercial progress. The company will also collect royalties on net sales once the drug reaches the market.
The agreement covers three ALT-B4-based products; however, details on the underlying drug remain undisclosed. Alteogen said the deal can be terminated if MedImmune exits for convenience, breaches terms, or becomes insolvent. Payments received so far are non-refundable.
The contract, effective immediately, runs until royalty obligations expire. Alteogen’s stock jumped 12 percent Monday, closing at 439,500 won ($303), up 47,500 won from the previous trading day.
Novo Nordisk Korea announced on Wednesday that it appointed Kasper Roseeuw Poulsen as general manager, effective March 1.
Since joining Novo Nordisk in 2006, Poulsen has held key leadership positions in finance, strategy, organizational development, commercial partnerships, and operations in Europe, Latin America, and Asia Pacific.
Most recently, Poulsen served as Vice President of Finance and Operations for Novo Nordisk's Asia-Pacific (APAC) region, overseeing more than 20 countries. Previously, he was Chief Vice President (CVP) of the company's China office.
Kasper Roseeuw Poulsen, new GM of Novo Nordisk Korea
Kasper Roseeuw Poulsen, new GM of Novo Nordisk Korea
Poulsen holds a bachelor's degree in Business Administration from Aarhus University, Denmark, and completed a master's program in Finance and International Business at Aarhus Business School.
“Korea is a key market in the Asia-Pacific region and a healthcare leader with an innovative healthcare environment, and I am excited to lead Novo Nordisk Korea,” said Poulsen. “I look forward to building closer and more sustainable collaborations with Korean healthcare professionals and key healthcare partners to ensure that Novo Nordisk's leadership in chronic diseases is translated into enhanced benefits for patients.”
The former GM, Sasha Semienchuk, was promoted to CVP Marketing at Novo Nordisk China, where he will oversee commercial activities across the Chinese mainland.
Since taking office as GM of Novo Nordisk Korea in October 2022, Semienchuk has exemplified Novo Nordisk's patient-centered corporate values in the Asia-Pacific region through his exceptional leadership, the company said.
In addition to leading the supply of products in various therapeutic areas, including Wegovy (semaglutide), he contributed to fostering a corporate culture that embraces diversity and supports mutual growth between the company and its employees, leading to Novo Nordisk Korea’s recognition as a “Great Place to Work” and “Best Worlplace for Women” for two consecutive years.
Furthermore, Semienchuk signed several global clinical trial collaboration memoranda of understanding with major Korean medical institutions to develop new drugs in the field of chronic diseases and established strategic partnerships with organizations such as Kakao Healthcare, Korea Health Industry Development Institute (KHIDI), and the Seoul Metropolitan Government, successfully advancing various collaborative projects to develop the domestic chronic disease management ecosystem.
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Kim Chan-hyuk kch@docdocdoc.co.kr
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