Novartis Secures $3.2 Billion Deal for Alteogen's Revolutionary Drug Delivery Tech

Pharmaceutical giant Novartis has signed a licensing agreement with South Korean biotech company Alteogen worth up to $3.22 billion.

The deal gives Novartis access to Alteogen's Hybrozyme technology, which uses the ALT-B4 enzyme (berahyaluronidase alfa) to break down hyaluronan in the body and allow medicines to be absorbed more quickly when injected under the skin.

This is not the first time Novartis has partnered with Alteogen - the company's injectable version of Merck's top-selling drug Keytruda, branded Keytruda Qlex, received FDA approval last year using this technology.