Kissei collaborates with Alteogen on biosimilars

Japanese drugmaker Kissei Pharmaceutical has entered into a business collaboration agreement with South Korean bio-venture company Alteogen.

Under the accord, Kissei will underwrite the allocation of new shares to a third party from Alteogen, and start a collaborative research for biosimilars. Through this business collaboration with Alteogen, Kissei will continue to further strengthen its efforts to biopharmaceutical business.

The impact from this agreement will be immaterial in the fiscal year ended on March 31, 2014, the company said, giving no further details on the scope of the collaboration.

Alteogen is a privately held biotechnology company focused on the development of long-acting versions for the existing therapeutic proteins and peptides for treatment of various ailments.