Alteogen signs ALT-B4 license with undisclosed pharmaceutical company

Alteogen signed an exclusive licensing agreement on Aug. 4 with an undisclosed global pharmaceutical company for recombinant human hyaluronidase ALT-B4, with upfront and milestone payments that may total up to 365 million dollars, or 522 billion won.

The company disclosed the contract in a regulatory filing on Aug. 5, stating that the agreement had been signed and the event confirmed on Aug. 4.

The agreement becomes effective Aug. 5 and extends through the expiry of its royalty period, with the upfront payment expected within 30 days from that date.

The unnamed partner secures exclusive development and commercialization rights for a subcutaneous formulation of one of its biopharmaceutical products using ALT-B4.

The terms specify an upfront fee and milestones tied to development, approval and commercialization. Alteogen also expects sales royalties linked to net sales once the product incorporating ALT-B4 achieves its first commercial sale, separately from upfront and milestone payments.

Alteogen is a biotechnology company that develops and licenses the Hybrozyme platform, which converts intravenous biopharmaceuticals into subcutaneous injections, and also develops biobetters and biosimilars for technology transfer.

Revenue from ALT-B4 and related technical services represented 92.3 percent of Alteogen's total revenue in the first quarter of 2026, according to an earlier company disclosure.

Chief Executive Jeon Tae-yeon said the contract was meaningful because the partner has led development of innovative therapies in areas with high unmet medical needs. He said the company will seek to accelerate growth in its platform business by continuing to pursue global partnerships in the future.

Separately, Alteogen said on Jul. 16 that it would temporarily defer efforts to move its listing to the securities market. On the same date, the company disclosed a halt in trading of its shares and set a shareholder record date in connection with a bonus share issue. The company later submitted a corrected filing for its previously announced bonus-share issue decision on Jul. 20, followed by a rights-ex date on Aug. 4.