Alteogen Inc. reported its highest-ever quarterly sales in Q1 2025, with consolidated revenue surging 139.8% year-over-year to 83.7 billion won ($59.8 million) and operating profit soaring 253.5% to 61 billion won ($43.6 million).
The South Korean biotech company attributed the exceptional performance to upfront payments received from its landmark technology transfer agreement with AstraZeneca, finalized in March. The deal, potentially worth up to $1.35 billion, grants AstraZeneca worldwide rights to use Alteogen’s ALT-B4 hyaluronidase enzyme to develop subcutaneous formulations of multiple oncology assets.
The agreement includes initial payments of $45 million combined from two separate contracts, with Alteogen eligible for additional milestone payments and royalties on commercialized products. AstraZeneca’s interest centers on Alteogen’s proprietary Hybrozyme platform technology, which enables large-volume subcutaneous administration of medications typically requiring intravenous infusion.
Beyond the AstraZeneca deal, Alteogen cited growing commercial revenue from its ALT-B4 subcutaneous formulation platform as a key contributor to its revenue increase. The company has positioned itself as a competitive alternative to others in the subcutaneous drug delivery space, despite ongoing patent disputes involving similar technologies.
The first-quarter results suggest Alteogen’s strategic focus on its proprietary drug delivery technology is paying dividends as global pharmaceutical companies seek more convenient administration methods for existing therapies.
