Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Alteogen mutually agreed with Sandoz AG to terminate the existing ALT-B4 license agreement and receive returned rights, concurrently executing a new joint development and license agreement for a different hyaluronidase.
📊 [Key Disclosure Details & Financial Highlights]
- Contracting Party: Sandoz AG
- Target Technology: Human Hyaluronidase Platform Technology (ALT-B4)
- Details of Termination & Returned Rights: Sandoz AG decided to return all rights to ALT-B4 previously obtained through the license agreement executed on December 29, 2022
- Reason for Termination: Mutual agreement to pursue a joint development strategy for a hyaluronidase distinct from ALT-B4 (New joint development and license agreement executed simultaneously upon termination)
- Additional Financial Notes:
- Previously received amounts under the terminated contract are incorporated into the milestone considerations of the new contract and will not be received again
- Related Disclosures:
- 2022-12-30 Major Management Matters Related to Investment Decision (Execution of License Agreement for ALT-B4)
- 2023-05-31 Major Management Matters Related to Investment Decision (Receipt of Milestone Payment for ALT-B4)
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Why Verifying Return of Rights and Integration into the New Contract Is Necessary
This filing is an informational disclosure notifying the termination of the prior ALT-B4 license agreement and the return of rights, executed concurrently with a new joint development agreement.
Checking this follow-up item is necessary because confirming that the returned rights and the inclusion of previously received fees into the new milestone structure align with the simultaneously filed new joint development disclosure is essential. Verifying that the details of the contract termination and the accounting treatment of previously received consideration are consistently recorded across the new contract disclosures and upcoming periodic filings ensures the final verification of the disclosed facts.
The final records can be verified in the simultaneously submitted new contract filing and upcoming periodic reports on DART.
📢 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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