Altos Biologics (hereinafter referred to as Altos Bio) announced on the 3rd that it has signed a domestic supply and sales contract with Hallym MS, a subsidiary of Hallym Pharmaceutical, for the AIlia biosimilar’ALT-L9′, a macular degeneration treatment. Altos Bio is a subsidiary of Alteogen.
Accordingly, Hallym MS will have the exclusive domestic sales right of ALT-L9 being developed by Altos Bio. Hallym MS decided to pay Altos Bio a down payment of 2 billion won, additional milestones according to the development stage, and current technical fees according to the sales segment.
Altos Bio completed a third-party capital increase of about 60 billion won last year for the global phase 3 clinical trial of the Ilia biosimilar.
As Alteogen and Altos Bio are currently developing ALT-L9, which avoids the original formulation patent and secures its own formulation patent, it will be released as soon as the original company’s substance patent expires in Korea, Japan, and Europe. It is a position that it can be.
Altos Bio is manufacturing clinical drugs for global phase 3 scheduled at the end of this year.
An official of Hallym Pharmaceutical emphasized, “By securing the domestic sales rights of Alteogen’s Ailea biosimilar, it is possible to enter the advanced market for the treatment of wet macular degeneration.”
An Alteogen official said, “It was the first in Korea to carry out the first phase of the Ilia biosimilar, a blockbuster product, and has a formulation and production patent, so it has a very high possibility as a first mover.” Starting with Miller’s domestic sales, it will be able to target Japan, Europe and third markets in turn.”