Alteogen Inc. disclosed an exclusive option and license agreement with Novartis Pharma AG on September 2, worth up to $3,223 million if every option is exercised and every milestone lands.
Alteogen's board approved a ₩253.2 billion plant on August 21, equal to 55.7% of 2025 equity, sixteen days after signing an ALT-B4 license worth up to $365 million.
Korea delayed higher market value thresholds for delisting by six months, Newsis reported Friday after a government market review meeting.
KOSDAQ's special technology listing route reached 300 companies this month, Korea Exchange said Friday, according to Dailian.
Alteogen (196170) signed an exclusive option-license agreement with Novartis Pharma AG on September 2, the company said in a regulatory filing, covering its ALT-B4 recombinant human hyaluronidase platform, which converts intravenous biologics into under-the-skin injections.
Alteogen (196170) said in a filing that Korea's Ministry of Food and Drug Safety approved its Eylea biosimilar, Eyzenfy (code ALT-L9, ingredient aflibercept), on May 14, nearly 20 months after the company applied in September 2024.
Alteogen (196170) said Monday it will collect a $25.0m (~₩34.4bn) sales milestone from MSD International Business GmbH, triggered by U.S.
| Period | 196170 | KOSDAQ | Difference |
|---|---|---|---|
| 1 week | -9.8% | -3.0% | -6.9% |
| 1 month | +8.1% | +4.2% | +3.9% |
| 3 months | +8.2% | -22.5% | +30.7% |
| 6 months | +12.9% | -16.9% | +29.8% |
| Year to date | -16.6% | -12.1% | -4.5% |
| 1 year | -19.8% | +1.0% | -20.8% |
Closed at 37% of the way from its 52-week low (₩206,213) to its 52-week high (₩430,123).
Alteogen (KOSDAQ:196170) signed an exclusive option-license agreement with Novartis Pharma AG on September 2 covering ALT-B4, its recombinant human hyaluronidase "Hybrozyme" platform that converts IV biologics into under-the-skin injections. Novartis gets rights to develop and commercialize subcutaneous versions of multiple Novartis biologics using ALT-B4. Total potential payments — signing fee, option-exercise fees, and development/commercial milestones across all products if every option is exercised — top out at USD 3,223 million (about ₩4,416.5bn at the disclosed ₩1,370.30/USD rate), plus a separate sales royalty once products launch; the ceiling shrinks if trials fail or sales are small. The signing payment is due within 30 days. Alteogen's FY2025 revenue was ₩215.9bn, so the $3.22bn ceiling is roughly 20x that. Deal-specific terms (products, milestones, royalty rate, counterparty confidentiality period) are withheld under contractual confidentiality through January 3, 2053. This is Alteogen's second named large-pharma ALT-B4 partner disclosed in a month, after an August 4 exclusive license (up to $365m) with an initially undisclosed partner.
Alteogen (KOSDAQ:196170) disclosed on May 15 that Korea's Ministry of Food and Drug Safety (MFDS) approved Eyzenfy (code ALT-L9, ingredient aflibercept), its biosimilar of Regeneron/Bayer's Eylea, on May 14 — nearly 20 months after the September 2024 filing application. The approval covers every indication the original Eylea holds in Korea: wet age-related macular degeneration, macular edema from retinal vein occlusion (central or branch), diabetic macular edema, and vision impairment from myopic choroidal neovascularization. The filing states the company's next step is pursuing a domestic launch, without giving a date, pricing, or partner. Unlike Alteogen's ALT-B4 licensing deals, this is Alteogen's own branded product rather than a technology license, so it does not carry a milestone or royalty figure — the company frames the commercial case only qualitatively, as import substitution for the originator product and a lower price point that could expand patient access.
Alteogen is a Korean biotechnology company whose main asset is a platform that converts intravenous antibody drugs into versions a patient can receive as a quick injection under the skin. Merck licensed that technology for a subcutaneous form of Keytruda, its best-selling cancer immunotherapy, which makes Alteogen one of the few Korean biotechs whose economics are tied directly to a US blockbuster drug. The company earns upfront payments, development milestones, and royalties rather than selling medicines itself. For a US investor it is the clearest way to hold a claim on the reformulation of drugs they already know by name.
| Sector | Biopharma | Employees | |
| Market | KOSDAQ | Founded | |
| Korean name | 알테오젠 | Head office |
| Symbol | Last Price |
|---|---|
| 207940Samsung Biologics Co., Ltd. | ₩1,447,000 -2.0% |
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| 326030SK biopharmaceuticals Co., Ltd. | ₩86,600 +0.2% |
| 128940Hanmi Pharm. Co., Ltd. | ₩473,500 +2.8% |
| 000100Yuhan Corporation | ₩81,400 +0.0% |
| 028300HLB Co., Ltd. | ₩33,750 +2.9% |
| 298380ABL Bio Inc. | ₩71,400 +5.6% |
| 000250Samchundang Pharm | ₩157,000 +1.0% |
| 087010Peptron, Inc. | ₩157,300 +7.3% |
| 141080LigaChem Biosciences Inc. | ₩92,000 +4.2% |