Biogen Inc. and South Korean biopharmaceutical company Alteogen Inc. announced an exclusive license agreement to develop and commercialize subcutaneous formulations of two biologic products using Alteogen’s ALT‑B4 (berahyaluronidase alfa) technology. The deal provides Biogen with an upfront payment of $20 million and an additional $10 million when development of the second product begins. Up to $549 million in development, regulatory, and sales milestone payments are available for the two products combined, and Biogen will earn royalties on net sales after commercialization.
The agreement expands Biogen’s pipeline into subcutaneous delivery, a modality that can improve patient convenience and broaden market access for biologics traditionally delivered by intravenous infusion. Biogen has already pursued subcutaneous options for its Alzheimer’s drug Leqembi, and the new license positions the company to apply the same technology across multiple therapeutic areas, potentially accelerating product timelines and reducing administration costs.
Alteogen’s ALT‑B4 platform has been licensed to other major pharmaceutical companies, including AstraZeneca, Tesaro (a GSK subsidiary), and Daiichi Sankyo. The technology converts intravenous drugs into subcutaneous formulations, a capability that has proven valuable in previous collaborations and underscores the commercial potential of the new partnership.
Tae‑Yon Chun, CEO of Alteogen, said, “Biogen is a global biotechnology company leading innovation with strong research and development capabilities. We are very pleased to enter into this partnership and look forward to advancing innovative therapies together for patients.” Biogen’s recent Q4 2025 earnings beat expectations, with revenue of $2.28 billion and EPS of $1.99, reflecting strong performance that supports the company’s investment in new delivery technologies.
The license grants Biogen exclusive rights to develop and commercialize the subcutaneous formulations and includes an option to develop a third product. The partnership provides a strategic pathway for Biogen to leverage a proven delivery platform, potentially expanding its market reach and enhancing patient experience across its biologic portfolio.
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