Alteogen and Lynkogen Enter into an Exclusive Option Agreement
Alteogen and Lynkogen Enter into an Exclusive Option Agreement to Develop Proprietary Fusion Proteins for the Treatment of NASH and Metabolic Diseases
DAEJEON, Korea & EAST WINDSOR, N.J.--(BUSINESS WIRE)--Alteogen Inc. (KOSDAQ:196170) and Lynkogen Inc. today announced that they have entered into an exclusive option agreement for the development of Alteogen’s novel GLP-1 mimetic and Alpha-1 Antitrypsin (A1AT) fusion proteins based on their proprietary NexPTM fusion technology to tackle NASH and metabolic diseases. Under the terms of the agreement Lynkogen will have exclusive worldwide rights, excluding Korea and emerging markets, to develop and commercialize therapeutic GLP-1/A1AT fusion proteins.
“We are pleased to enter into this agreement. Alteogen’s expertise in developing novel fusion proteins utilizing our NexPTM technology coupled with Lynkogen’s focus on complex metabolic diseases, positions us well to bring new therapeutic options for metabolic diseases with high unmet need,” said Dr. SJ Park, Ph.D., CEO of Alteogen.
“Non-Alcoholic Steatohepatitis (NASH) is a multi-faceted disease characterized by multiple triggers and there is a need for therapies that can address more than one trigger,” said Arun Swaminathan, Ph.D., CEO of Lynkogen. “Alteogen’s GLP-1/A1AT fusion protein therapies simultaneously target the metabolic and inflammatory pathways and have the potential to provide patients with a unique option in the management of NASH and other complex metabolic disorders.”
NASH is poised to be the leading cause of liver transplants by 2020 and the market is projected to reach over US$ 20 Billion by 2025. Despite an enormous unmet need, there are currently no approved therapeutics available for patients with NASH.
The global rise in the incidence of diabetes and related metabolic diseases continues to warrant pursuing alternate treatment options. This market is projected to reach US$ 58 Billion by 2025.
Upon exercise of the option by Lynkogen, Alteogen will be eligible for development, regulatory and commercial milestone payments and receive an equity stake in Lynkogen. Lynkogen and Alteogen will receive cross-royalties on sales of the licensed products from their respective territories.
About Alteogen Inc.
Alteogen Inc. is a Korea-based biopharmaceutical company that focuses on the development and commercialization of novel biologics such as Antibody-dug conjugates, biobetters and biosimilars. Alteogen’s portfolio includes clinical-stage long-acting therapeutic proteins and next-generation ADC, developed by its proprietary NexPTM-fusion and NexMabTM platform technology, respectively. It also develops Herceptin and Eylea biosimilars. The company was founded in 2008 and listed in KOSDAQ (196170.KQ).
About Lynkogen Inc.
Lynkogen is a pre-clinical stage biotech company with a vision to develop novel therapies to address the unmet need in NASH, diabetes, obesity and related disorders. Lynkogen’s approach is built on developing drugs that can simultaneously address multiple facets of complex metabolic diseases thus bringing potentially differentiated options to patients. Lynkogen was founded in 2016.