Alteogen, a South Korea-based biopharmaceutical company headquartered in Daejeon, has entered into an exclusive Alteogen Biogen license agreement granting Biogen rights to develop and commercialize subcutaneous formulations of two biologic products using ALT-B4, Alteogen's proprietary recombinant human hyaluronidase. The deal, announced March 25, 2026, also includes an option for Biogen to develop a third product. The specific Biogen biologics being reformulated were not disclosed.
Under the financial terms, Alteogen will receive an upfront payment of USD 20 million. An additional USD 10 million becomes payable upon initiation of development of the second product. Alteogen is eligible for up to USD 549 million in combined development, regulatory, and sales milestone payments across both products. The company will also receive royalties on net sales following commercialization. Royalty rates were not disclosed. No equity component was reported. The total potential deal value, excluding royalties and any economics tied to the third-product option, reaches approximately USD 579 million.
Deal context
ALT-B4, known by its international nonproprietary name berahyaluronidase alfa, is a recombinant human hyaluronidase produced through Alteogen's Hybrozyme platform. The enzyme temporarily degrades hyaluronic acid in the subcutaneous extracellular matrix, enabling rapid dispersion and absorption of co-administered biologics. This mechanism allows conversion of drugs typically given by intravenous infusion into subcutaneous formulations, a subcutaneous drug delivery technology that can reduce administration time and enable potential self-injection by patients.
ALT-B4 is not itself a therapeutic agent. It functions as an enabling co-formulation component combined with a partner's biologic. The Biogen subcutaneous formulation programs will rely on ALT-B4 to achieve the IV-to-SC conversion for two undisclosed biologics. Biogen will bear all development and commercialization costs. Alteogen retains ownership of the Hybrozyme platform and the right to license ALT-B4 to other partners for different molecules.
No clinical trials are registered under the ALT-B4 name as a standalone product. However, the enzyme is being evaluated as a co-formulation component in trials run by other partners. Phase 3 studies in metastatic non-small cell lung cancer (NCT05722015) and Phase 1 studies in advanced solid tumors (NCT05017012) are ongoing under separate partnerships. No regulatory designations have been granted for ALT-B4.