Bio corporation Alteogen announced on the 22nd that its integrated entity 'Alteogen Biologics,' formed by merging its subsidiary Alteogen Healthcare and Altos Biologics, is launching. The company stated its goal is to transform into a comprehensive bio corporation by combining the pharmaceutical distribution and sales of Alteogen Healthcare with the pipeline (new drug candidates) of Altos Biologics.
Alteogen Healthcare is distributing adhesion preventives, growth hormones, and recombinant hyaluronidase, Tergezu. Tergezu is gaining speed in market entry after passing the major hospital pharmacy councils in Korea. Hyaluronidase promotes the absorption of body fluids and alleviates pain. It is also used to convert intravenous injections to subcutaneous injections.
Altos Biologics has completed global Phase 3 clinical trials of its Aflibercept biosimilar (a generic version of a biopharmaceutical) and is undergoing approval processes in Korea and Europe. Aflibercept, which treats age-related macular degeneration, generated sales of over 13 trillion won last year, making it a global blockbuster. The company is also developing a dual-antibody-based ophthalmic disease biobetter, 'OP-01.' A biobetter refers to a product that improves efficacy rather than a simple copy. The company is expected to accelerate its new drug development.
Alteogen Biologics operates under a dual leadership structure with Ji Hee-jeong and Ko Jin-guk as representatives. The structure oversees each division with representatives from Alteogen Healthcare and Altos Biologics. Ji, a representative from Altos Biologics, noted, 'We will strengthen our clinical trial and regulatory capabilities to secure a global pipeline.' Ko stated, 'We will pursue various partnerships to promote the sales of Tergezu and the Aflibercept biosimilar.'