Alteogen Signs ALT-B4 License Agreement with Novartis Worth Up to 4.4 Trillion Won

Separate Royalties to Be Paid Following Commercialization

Alteogen has signed a subcutaneous (SC) formulation conversion technology agreement worth up to 4.4 trillion won with the global pharmaceutical company Novartis AG.

Aerial view of Alteogen headquarters and research institute in Yuseong District, Daejeon. Alteogen

On September 2, Alteogen announced that it has entered into an option and license agreement with Novartis for the development and commercialization of ALT-B4-based SC formulation pharmaceuticals utilizing Hybrozyme technology.

Under this agreement, Novartis has secured exclusive rights through multiple options to develop and commercialize a range of products in SC formulations using ALT-B4.

If all options are exercised and all milestone payments for each stage of development and commercialization are fulfilled, the total amount Alteogen could receive would reach up to 3.223 billion dollars (approximately 4.4165 trillion won). After product commercialization, Alteogen will also receive separate royalties based on net sales.

ALT-B4 (ingredient name: berahyaluronidase alfa) is a recombinant human hyaluronidase developed on Alteogen's Hybrozyme platform. It temporarily degrades hyaluronic acid, a major component of the extracellular matrix, thereby enhancing the dispersion and absorption of simultaneously administered therapeutics. This enables the conversion of intravenously administered (IV) biopharmaceuticals into SC formulations, which offer improved convenience for patients.

Alteogen CEO Tae Yeon Jeon stated, "Novartis is a global pharmaceutical company leading the worldwide healthcare industry, and prior to signing the contract, it conducted an evaluation of SC formulation conversion using ALT-B4 across various modalities."

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