Alteogen is in final talks with a counterpart for a global technology out-licensing deal for "ALT-B4," its technology that converts intravenous (IV) formulations to subcutaneous (SC) injections. The deal could be concluded as early as next week.
On the 15th (local time) at the JP Morgan Healthcare Conference (JPMHC 2026) in San Francisco, where the corporations participated to give a corporate presentation, Chief Executive Officer and President Jeon Tae-yeon of Alteogen met with reporters right after the presentation and said, "During this event, we held meetings with existing global partners and coordinated a new contract," adding, "We are working hard on the new deal. It could come as early as next week."
JPMHC 2026 is the world's largest healthcare investment event hosted annually by investment bank (IB) JP Morgan, and this is the first time Alteogen has been formally invited. On the 14th day since taking office as CEO, Jeon took the official stage and emphasized Alteogen's technological competitiveness in this presentation.
ALT-B4 is a recombinant enzyme protein that temporarily breaks down hyaluronic acid under the skin, developed based on Alteogen's "Hybrozyme" platform.
Applying this makes it possible to administer large-volume drugs, such as IV (intravenous injection) anticancer drugs, via the SC (subcutaneous injection) route. IV anticancer drugs take more than 30 minutes just to administer, while SC formulations take only 1 to 2 minutes, maximizing patient convenience.
Previously, Alteogen signed separate technology transfer agreements with six global pharmaceutical companies, including Merck (MSD), AstraZeneca, Sandoz and Daiichi Sankyo.
In Mar. last year, the technology out-licensing deal signed with MedImmune, AstraZeneca's U.S. subsidiary, was worth up to $1.3 billion, and the technology transfer agreement to develop MSD's immunotherapy "Keytruda" into an SC formulation reached $4.317 billion. Keytruda Qlex, the SC formulation of the immunotherapy Keytruda developed using Alteogen's technology, was launched in the United States at the end of Sep. last year.
In the presentation, Jeon said, "SC injections that significantly shorten the administration time of IV formulations provide major benefits to both patients and the health care system." Jeon said, "Keytruda was approaching patent expiration and needed lifecycle management, and the ALT-B4 technology made that possible." The point is that changing the formulation and obtaining approval as a new drug can extend the patent of a blockbuster drug, addressing the patent cliff risk.
Jeon emphasized the platform scalability of ALT-B4. Jeon said, "There is one product, but because it is a platform technology, it can be applied to multiple blockbuster drugs."
Jeon also introduced to the audience the competitiveness of another platform technology from Alteogen, "NexP." It is a biobetter technology that extends dosing intervals. It uses a protein in the human body (A1AT) to lengthen a drug's half-life and reduce the number of doses. Applying this can convert daily injections, such as obesity treatments or anticancer drugs, into once-weekly medications.
Asked by reporters about the impact of a recent patent dispute, Jeon said, "Discussions with global pharmaceutical companies are proceeding without issues."
Previously, Halozyme Therapeutics in the United States, which has formulation-conversion technology, and MSD have been engaged in a patent lawsuit. Ahead of the launch of the Keytruda SC) formulation under development using Alteogen's technology, Halozyme filed suit, leading to a legal dispute.
Jeon said, "Functionally, ALT-B4 is the same as existing competing enzymes, but from a patent perspective, it is a completely different molecule," adding, "In the market, legal disputes with Halozyme draw attention, but in meetings with global corporations there is hardly any mention of the patent dispute." Jeon added, "ALT-B4 was developed with proprietary protein engineering technology," and "The ALT-B4 patent is secured until Jan. 3, 2043, ensuring long-term business stability."
Meanwhile, Alteogen, which is pursuing a KOSPI transfer listing, last month appointed Executive Vice President Jeon Tae-yeon as the new chief executive officer and president. Founder Park Soon-jae stepped down as CEO to serve as chairman of the board, shifting from an owner-led management structure to a professional management structure. Jeon is a biotech expert with a Ph.D. in biochemistry and a U.S. patent attorney qualification, and since joining Alteogen in 2020, Jeon has overseen business development.