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.
Novartis gets rights to develop and commercialize subcutaneous versions of multiple of its own biologics using the technology. Total potential payments — a signing fee, option-exercise fees and development and commercial milestones across every product if all options are exercised — top out at USD 3,223 million, plus a separate sales royalty once products launch. None of that is guaranteed; the ceiling shrinks if trials fail or sales are small. The signing payment is due within 30 days.
Deal-specific terms, including which Novartis products are covered, milestone schedules and the royalty rate, are withheld under contractual confidentiality through January 2053, a reservation period Korean disclosure rules permit for commercially sensitive contract terms.
Against Alteogen's FY2025 revenue of KRW 215.9 billion, the maximum deal value is roughly 20 times that figure. It is the second large pharma partner for ALT-B4 that Alteogen has named in a month, after an August 4 exclusive license worth up to $365 million with a then-undisclosed partner.
215.9 billion won.
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| Symbol | Last Price |
|---|---|
| 196170Alteogen Inc. | ₩288,500 +1.9% |