Novartis Signs $3.22bn Alteogen SC Drug Delivery Deal

Novartis has signed a licensing agreement worth up to $3.22 billion with South Korea’s Alteogen for the ALT-B4 subcutaneous drug delivery technology platform. Announced on 3 September 2026, the deal gives Novartis multiple options for exclusive global rights to develop subcutaneous versions of several of its biologic products, extending the Swiss pharma’s franchise into a rapidly growing category and marking Alteogen’s fourth major Hybrozyme platform partnership.

ALT-B4 (berahyaluronidase alfa) is a proprietary recombinant human hyaluronidase enzyme developed via Alteogen’s Hybrozyme platform, designed to convert biologic drugs from intravenous to subcutaneous administration. The enzyme temporarily breaks down hyaluronan in the extracellular matrix, enabling faster and more efficient absorption of co-administered biologic therapies delivered subcutaneously. Under the terms of the agreement, Novartis will pay option exercise fees, development and commercial milestones, and royalties on net sales of any products commercialised using ALT-B4. Alteogen CEO Tae-Yon Chun positioned the deal as demonstrating the technological strength and commercial value of the Hybrozyme platform.

The deal extends Novartis’s growing biologic drug delivery portfolio and strengthens positioning in a subcutaneous formulation category that has emerged as a strategic focus for major pharma. Subcutaneous conversion of intravenous biologics enables home administration, improves patient convenience and reduces healthcare system costs. The subcutaneous delivery category faces intense competition from Halozyme’s rival ENHANZE platform, used by Roche, Bristol Myers Squibb, Johnson & Johnson and others, reinforcing the commercial value of proven human hyaluronidase technologies as pharma extends biologic franchise life. Novartis recently also collaborated with Chai Discovery on AI-driven therapeutic antibody identification.

The commercial signal is a strategically consolidating drug delivery technology market where subcutaneous conversion of biologic drugs is emerging as a defensive lifecycle management strategy for major pharma. Alteogen’s Hybrozyme platform is now central to multiple top-tier pharma pipelines. Expect Halozyme (ENHANZE), Enable Injections, West Pharmaceutical Services and Ypsomed to sharpen their subcutaneous drug delivery positioning through the rest of 2026 and 2027.

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