Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Alteogen signed an exclusive license agreement with a subsidiary of AstraZeneca for its human hyaluronidase technology (ALT-B4), featuring an upfront payment of KRW 36.37B (US$ 25M) and milestone payments of up to KRW 1.05T (US$ 725M), bringing the total potential contract value up to KRW 1.09T (US$ 750M).
📊 [Key Disclosure Details & Financial Highlights]
- Subject: Execution of Exclusive License Agreement for Human Hyaluronidase Core Technology (ALT-B4)
- Contracting Party: MedImmune Limited (UK, Subsidiary of AstraZeneca / AstraZeneca Recent Annual Revenue: US$ 54,073M)
- Contract Details: Exclusive license granted for the development and commercialization of subcutaneous (SC) formulations of AstraZeneca oncology therapeutics using Alteogen’s Hybrozyme platform-based ALT-B4
- Execution Date & Event Date: 2025-03-15
- Disclosure Date: 2025-03-17
- Contract Period: From 2025-03-17 until the expiration of the royalty period
- Financial Terms (Applied Exchange Rate: KRW 1,454.8/USD as of 2025-03-17):
- Upfront Payment: US$ 25M (KRW 36.37B / 37.68% of previous year’s consolidated revenue)
- Milestones: US$ 725M (KRW 1.05T) – Receivable upon achieving clinical, regulatory approval, and commercial milestones
- Total Potential Contract Value: Up to US$ 750M (KRW 1.09T, Upfront + Milestones for 2 products)
- Tiered Sales Royalties: Running royalties based on a percentage of net sales after first commercial sale (payable separately)
- Key Terms & Investment Risks:
- No obligation to refund received upfront, milestone, or royalty payments
- Upfront payment scheduled to be received within 30 days of effective date (before 2025-04-16)
- Conditional contract subject to regulatory approvals; contract may terminate or payments reduce in case of clinical failure or termination by counterparty
- Redacted Items: Specific milestone breakdowns and targeted drug candidates are kept confidential until contract termination
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Upfront Payment Receipt and Tracking Subsequent Clinical/Milestone Disclosures
This filing details a major technology licensing deal with a global pharmaceutical partner, featuring a non-refundable upfront payment of US$ 25M and milestone payments of US$ 725M, bringing the total potential value up to US$ 750M for 2 products. Verifying whether the upfront payment is successfully received around the target date of April 16, 2025, and tracked in official filings is important to confirm the actual financial realization of the agreement. The actual cash receipt and financial statement impact can be verified in the ‘Notes to Financial Statements’ of upcoming quarterly, half-yearly, or annual reports, as well as subsequent corporate disclosures regarding milestone achievements.
📢 Disclaimer & Source Information
Source: This content was structured and generated based on official submission data from the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART).
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