Alteogen's corporate identity (Alteogen) Korean biotechnology firm Alteogen said Wednesday it has signed an exclusive licensing agreement worth up to $365 million with a global pharmaceutical company.Under the deal, the latter will develop and commercialize subcutaneous formulations of biologic drugs using Alteogen's proprietary recombinant human hyaluronidase platform ALT-B4. Also known by its generic name berahyaluronidase alfa, ALT-B4 is Alteogen's proprietary recombinant human hyaluronidase developed using the company's Hybrozyme platform.According to Alteogen, the partner's name, product and specific payments remain undisclosed under their agreement. The maximum value of the deal, $365 million, includes an upfront payment as well as development, regulatory and commercial milestone payments.Alteogen said it will also receive separate royalties on net sales after the first commercial launch of products using ALT-B4."The agreement with a partner that has led the development of innovative therapies in areas with high unmet medical needs is particularly meaningful," said Chun Tae-yon, CEO of Alteogen."We will continue to accelerate the growth of our platform business through global partnerships."The latest licensing agreement marks Alteogen's third Hybrozyme platform licensing deal this year, following partnerships with Tesaro, a GSK subsidiary, in January and Biogen in March.For the Tesaro deal, the Korean firm received $20 million in upfront payment with up to $265 million in milestones and royalties. The Biogen contract also guaranteed Alteogen $20 million in upfront payment with a maximum value of an additional $559 million depending on milestones and royalties. Alteogen's headquarters in Daejeon (Alteogen)