Alteogen Records Sales of 140.5 Billion Won in First Half...Commercial Revenue Gains Momentum
Operating Profit Hits 73.5 Billion Won, Net Profit 101.3 Billion Won
Reflects Technology Export Deals with GSK and Biogen
On August 7, Alteogen, a bio-platform company, announced its provisional consolidated results for the first half of 2026, reporting revenue of 140.5 billion won, operating profit of 73.5 billion won, and net profit of 101.3 billion won. Each figure reflects an increase of 37%, 21%, and 108%, respectively, compared to the same period last year.
The results included upfront and milestone revenues from ALT-B4-based Hybrozyme platform license agreements signed in the first quarter with Tesaro, a subsidiary of GSK, and Biogen.
Keytruda Qlex, the first commercially available subcutaneous formulation product utilizing ALT-B4, recorded sales of 463 million dollars (approximately 662.1 billion won) in the second quarter. This represents an increase of about 262% compared to the previous quarter’s 128 million dollars. According to the developer MSD, since April, the adoption of J-code and enhanced administration convenience have helped accelerate uptake at medical institutions as well as the transition to the new formulation.
The scope of application for the Hybrozyme platform is also expanding. Alteogen highlighted its history of platform development by announcing that its first ALT-B4 licensing partner in 2019 was Sanofi. At the PDA Miniverse 2026 in May, the company presented research results combining ALT-B4 with a drug delivery device from Becton Dickinson. At the World ADC in June, Alteogen suggested the potential for improved skin toxicity profiles and safety when used in combination with an ADC.
The biosimilar business has also expanded. The Eylea biosimilar “Igenpi Injection” received product approvals in Korea and Saudi Arabia in the second quarter, and royalty revenues from the Herceptin biosimilar “Angokta,” which is being sold in China, are also increasing.
Based on strong technology licensing performance and growth in sales from commercialized products during the first half of the year, Alteogen plans to transition from a revenue model reliant on upfront and milestone payments to one focused on product sales.
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Tae-yeon Jeon, CEO of Alteogen, stated, “The first half was significant in that the Hybrozyme platform entered a phase of generating revenue through commercialized product sales, beyond technology licensing. Following three technology out-licensing deals conducted this year, we aim to achieve additional results and grow into a global bio-platform company.”
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