Alteogen and Novartis Sign $3.2B Subcutaneous Drug Deal

Daejeon, South Korea, September 2, 2026

Novartis Gains Options for Multiple SC Products

Under the agreement, Novartis will have multiple options to secure exclusive rights covering the development and commercialization of subcutaneous formulations for multiple Novartis products. The structure provides Novartis with flexibility to evaluate and select individual products for conversion to an SC delivery format while allowing Alteogen to expand the application of its drug-delivery technology across a broader portfolio. The agreement represents Alteogen’s fourth ALT-B4 licensing agreement in 2026, further strengthening the company’s strategy of establishing Hybrozyme as a platform technology for pharmaceutical partners. The potential financial value of the agreement is significant, with up to US$3.223 billion available to Alteogen if all options are exercised and all specified development and commercial milestones are achieved. The amount includes option exercise fees and milestone payments, while additional royalties on net sales would be payable for products successfully commercialized under the agreement. Because the potential payments are contingent on future events, the headline value should not be interpreted as an immediate payment to Alteogen.

Hybrozyme Platform Enables Subcutaneous Biologics

At the center of the collaboration is ALT-B4, a proprietary recombinant human hyaluronidase developed using Alteogen’s Hybrozyme™ technology. Hyaluronan is an important component of the extracellular matrix beneath the skin. ALT-B4 temporarily depolymerizes hyaluronan, creating conditions that can facilitate the dispersion and absorption of co-administered therapeutic agents. This mechanism can enable the administration of certain biologic medicines by the subcutaneous route, potentially reducing dependence on intravenous infusion for appropriate products. The ability to develop subcutaneous versions of biologic therapies has become an important area of pharmaceutical innovation because SC administration can potentially offer greater convenience compared with IV infusion. Depending on the medicine and clinical setting, a subcutaneous formulation may support shorter administration times and more flexible treatment settings. However, the development, regulatory review and commercialization of any specific Novartis product using ALT-B4 will remain subject to applicable clinical, manufacturing, quality and regulatory requirements.

Alteogen Expands Global Drug-Delivery Platform

The agreement further strengthens Alteogen’s position as a biopharmaceutical platform technology company. In addition to Hybrozyme, the company develops biologics, biosimilars, antibody-drug conjugates and long-acting therapeutic proteins using proprietary technology platforms. Its ALT-B4 technology is specifically designed to support large-volume subcutaneous administration of medicines that are traditionally delivered by IV infusion, creating potential opportunities across multiple biologic modalities. For Novartis, the agreement provides access to a technology that could support the development of more convenient formulations across multiple products. For Alteogen, the partnership provides another validation of the commercial and pharmaceutical potential of Hybrozyme and ALT-B4. The companies’ collaboration illustrates the growing role of specialized drug-delivery platforms in improving the administration of biologic medicines and expanding formulation options for patients.

Source: Alteogen, Novartis press release