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.
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