Novartis signs deal worth up to $3.2 billion for Alteogen's drug delivery technology

Novartis AG

02/09/2026 13:09

Sept 2 (Reuters) - South Korea's Alteogen 196170.KQ said on Wednesday it has signed a deal with Novartis NOVN.S worth up to $3.22 billion, giving the Swiss drugmaker access to its technology to make injectable versions of intravenous drugs.
Here are the details:
Drugmakers are increasingly developing under-the-skin versions of medicines traditionally delivered through IV infusions due to their convenience.
The licensing agreement gives Novartis multiple options to gain exclusive rights for Alteogen's Hybrozyme technology using the company's ALT-B4 enzyme, also known as berahyaluronidase alfa.
ALT-B4 works by temporarily breaking down hyaluronan, a natural substance found in the body's tissue, allowing medicines to spread and be absorbed more quickly when injected under the skin.
Alteogen said it would be eligible to receive up to $3.22 billion if Novartis exercises all options and all development and commercial milestones are achieved. The figure includes option exercise fees, milestone payments and royalties on future product sales.
This marks Alteogen's fourth such licensing deal this year.
The ALT-B4 technology is used in the injectable version of Merck's MRK.N top-selling drug, Keytruda. The injection, branded Keytruda Qlex, got FDA approval last year.


 (Reporting by Kamal Choudhury in Bengaluru; Editing by Leroy Leo)
 ((Kamal.Choudhury@thomsonreuters.com;))