Alteogen has surpassed KRW 12 trillion in cumulative technology export contract value for the first time, driven by its proprietary subcutaneous injection formulation conversion platform 'ALT-B4.' The securities industry expects the company's growth to accelerate this year as new contract down payments and milestone payments from existing deals are reflected in its earnings.

Exclusive Licensing Deal Worth KRW 521.9 Billion Signed

According to a regulatory filing on the 5th, Alteogen has entered into an exclusive licensing agreement worth up to USD 365 million (approximately KRW 521.9 billion) with an undisclosed global pharmaceutical company. The agreement grants the global pharmaceutical company exclusive rights to develop and commercialize a specific biologic drug as a subcutaneous injection formulation using Alteogen's ALT-B4 platform. The counterparty and target drug were not disclosed pursuant to a confidentiality agreement between the two companies.

Including this latest deal, this marks Alteogen's third technology export agreement concluded this year, and the cumulative total of maximum contract values has exceeded KRW 12 trillion for the first time.

What is ALT-B4?

ALT-B4 is a platform technology that converts large-volume biologic drugs, such as antibody therapeutics previously administered via intravenous (IV) injection, into subcutaneous (SC) injection formulations. It significantly improves dosing convenience, leading to sustained demand from global big pharma. To date, Alteogen has signed ALT-B4-related agreements with global pharmaceutical companies including MSD, AstraZeneca, GSK, Biogen, Daiichi Sankyo, and Intas.

2026 Operating Profit Projected at KRW 263 Billion… Significant Growth Compared to Last Year

The expansion of technology exports directly ties into earnings forecasts. According to estimates from the securities industry cited by Korea Economic TV, Alteogen's 2026 revenue is projected to reach approximately KRW 443 billion, with operating profit expected to hit KRW 263 billion. This represents a significant increase over the 2025 consolidated revenue of KRW 215.9 billion and operating profit of KRW 106.9 billion.

Alteogen CEO Jeon Tae-yeon recently hinted at the possibility of additional achievements, indicating that good news would continue in the second half of the year.

Key Variables That Will Determine Future Performance

With the company in discussions with multiple global pharmaceutical companies regarding the application of ALT-B4, the success of new technology export deals and the receipt of milestone payments from existing contracts are cited as the key variables for future earnings. This year's performance is likely to depend not on the size of new contracts alone, but on factors including ▲ the actual timing of contract down payment inflows ▲ achievement of milestones ▲ continued growth in Keytruda Qures sales ▲ the signing of additional technology export agreements ▲ and the advancement of development stages under existing contracts.

[This article does not recommend the purchase or sale of any specific stock. Investment decisions and responsibilities lie with the investor. This article was written with AI assistance.]