Alteogen Nets $3.22 Billion Deal with Novartis for Breakthrough Drug Delivery Tech

Alteogen, a South Korean biotech company, has signed a significant licensing agreement with Novartis worth up to $3.22 billion. The deal gives Novartis access to Alteogen's Hybrozyme technology using the ALT-B4 enzyme, also known as berahyaluronidase alfa.

This technology works by breaking down hyaluronan, a natural substance in the body, allowing medicines to spread and be absorbed more quickly when injected under the skin. Alteogen will receive up to $3.22 billion if Novartis exercises all options and development and commercial milestones are achieved.

The ALT-B4 technology is already used in an injectable version of Merck's Keytruda, which received FDA approval last year as Keytruda Qlex.