Daejeon – – September 07, 2026 -- Alteogen Inc. (KOSDAQ: 196170) has signed an option and license agreement with Novartis worth up to US$3,223 million, granting the Swiss drugmaker rights to develop subcutaneous formulations for multiple Novartis products using Alteogen's ALT-B4 hyaluronidase.
Novartis secures multi-product option rights to ALT-B4 technology
Under the agreement, Novartis will hold multiple options to obtain exclusive rights to develop and commercialize subcutaneous formulations for several of its products using ALT-B4 (berahyaluronidase alfa). The enzyme, built on Alteogen's proprietary Hybrozyme platform, converts biologics normally delivered via intravenous infusion into faster, more convenient subcutaneous injections by temporarily depolymerizing hyaluronan in the extracellular matrix.
Total deal value reaches $3.2 billion if all milestones are met
Alteogen stands to receive up to US$3,223 million in aggregate value, comprising option exercise fees, development and commercial milestone payments, and royalties on net sales of any products commercialized under the deal, contingent on Novartis exercising all options and achieving all milestones.
Deal marks Alteogen's fourth Hybrozyme licensing agreement in 2026
The Novartis pact is Alteogen's fourth licensing agreement for the Hybrozyme platform signed this year, extending the technology's reach across additional global pharmaceutical partners.
Tae-Yon Chun, Ph.D., CEO of Alteogen, said Novartis had evaluated ALT-B4's application across multiple modalities for subcutaneous formulation development, calling the agreement evidence of the platform's technological strength and commercial value.