Alteogen (196170) said Monday it will collect a $25.0m (~₩34.4bn) sales milestone from MSD International Business GmbH, triggered by U.S. sales of Keytruda Qlex, the subcutaneous version of Merck's cancer drug Keytruda that uses Alteogen's ALT-B4 hyaluronidase technology.
The filing dates the milestone to an invoice Alteogen issued August 31; under the companies' agreement, MSD has 30 days from that date to pay, and Alteogen said it has no obligation to return money already received under the license.
Alteogen and MSD, then undisclosed, first signed the ALT-B4 license in June 2020; the partnership and drug identity became public only through a February 2024 contract amendment, and this is the third sales-related milestone Alteogen has disclosed since October 2025.
At the August 31 reference rate of ₩1,376.50 per dollar, the $25.0m payment equals roughly ₩34.4bn, or about 15.9% of Alteogen's FY2025 revenue of ₩215.9bn, large enough that Korean disclosure rules required the filing.
Alteogen's stock closed Monday at ₩307,500, down from a 52-week high of ₩430,123.
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| Symbol | Last Price |
|---|---|
| 196170Alteogen Inc. | ₩288,500 +1.9% |