Novartis signs up to $3.2 billion deal with Korea's Alteogen for subcutaneous drug delivery technology

Novartis has entered an option and license agreement with Korean biotech Alteogen to use its ALT-B4 subcutaneous delivery platform, a partnership that could be worth up to $3.2 billion if all options are exercised and milestones met.

Alteogen has emerged as a key player in the subcutaneous delivery space, previously securing a deal with Merck for the subcutaneous version of Keytruda and adding Biogen and GSK to its client list this year.

The agreement gives Novartis multiple options to obtain exclusive rights to develop drugs using the technology. The deal structure includes milestone payments that could raise the total value, while no upfront fee was disclosed in the press release.

By joining Biogen and GSK, Novartis adds to a growing trend of major drugmakers paying for access to subcutaneous delivery technologies, underscoring the industry's focus on injectable biologics.