Alteogen Partners with Biogen on $579 Mln Deal for Hybrozyme-Based Biologics

Alteogen has entered into an exclusive license agreement with Biogen for the development and commercialization of Hybrozyme-based Subcutaneous Biologics in a deal worth up to $579 million. Alteogen will receive $20 million upfront and up to $549 million in milestone payments. The company is also eligible for royalties based on net sales. Biogen has the option to develop a third product.