Alteogen secures up to $365 million Hybrozyme licensing deal

South Korean biotechnology firm Alteogen has signed an exclusive licensing agreement with a global pharmaceutical company. The deal, valued at up to $365 million, grants worldwide rights to develop and commercialise subcutaneous formulations of biologic drugs using Alteogen’s Hybrozyme platform and its recombinant human hyaluronidase ALT‑B4 (berahyaluronidase alfa). The agreement includes an upfront payment, development, regulatory and sales milestone payments, and royalties on net sales.

Alteogen CEO Tae‑Yon Chun said the partnership will help bring innovative therapies to patients with serious unmet medical needs and accelerate growth of the Hybrozyme platform. This is the company’s third Hybrozyme licensing deal in 2024, following agreements with Tesaro (a GSK subsidiary) and Biogen earlier in the year.