[JPM 2026] Alteogen CEO Taeyeon Jeon: "'ALT-B4' Additional Contract Possible Next Week"

Meeting with Reporters After Final Day of JPMHC
"SC Formulation Contract Nearing Completion... Similar in Scale to Previous Deals"

Taeyeon Jeon, CEO of Alteogen, stated that an additional contract related to the human hyaluronidase 'ALT-B4' is "possible as early as next week."

After his presentation at the JP Morgan Healthcare Conference Asia-Pacific Track, held on the 15th (local time) at the Westin St. Francis Hotel in San Francisco, California, CEO Jeon told reporters, "The new contract regarding the conversion to subcutaneous (SC) injection formulation is in its final coordination stage," and added, "If things move quickly, it could be announced as early as next week."

Taeyeon Jeon, CEO of Alteogen, is presenting at the JP Morgan Healthcare Conference Asia-Pacific Track held on the 15th (local time) at the Westin St. Francis Hotel in San Francisco, California, USA. Alteogen

However, CEO Jeon remained cautious regarding the timing of the contract announcement, noting, "Even if it is imminent, there are cases where various variables cause delays." He explained, "If the partner requests ESG (Environmental, Social, and Governance) compliance and our company fails to meet it, they could claim a breach of contract, and in some cases, terminate the contract. Even when we meet the requested conditions, there are situations where delays occur because we have to undergo another evaluation by an institution designated by the partner."

He also mentioned that the scale of the "next new contract" will be "almost similar to previous contracts." Alteogen has previously signed technology licensing agreements worth hundreds of billions of won with global pharmaceutical companies such as Daiichi Sankyo, Merck, and AstraZeneca.

Alteogen's core competitive strength lies in its recombinant human hyaluronidase (ALT-B4) based on the 'Hybrozyme' platform. This enzyme is essential for converting high-volume antibody drugs from intravenous (IV) to subcutaneous administration, reducing administration time from tens of minutes or several hours to just a few minutes, thereby enhancing both patient convenience and hospital operational efficiency, according to the company.

During the presentation, this year was described as a "turning point." CEO Jeon stated, "The current point, where Alteogen's technological achievements are being directly translated into financial performance, is a very important turning point for the company," adding, "We will grow Alteogen into a global biopharmaceutical company with fully integrated capabilities from research and development to production and commercialization."

To achieve this, CEO Jeon presented three mid- to long-term goals: ▲ strengthening financial stability, ▲ developing new platforms and expanding the pipeline, and ▲ stabilizing the global supply chain. As key execution strategies to achieve these goals, he outlined four priorities: ▲ expanding the number of commercialized products from the current three to at least nine by 2030, ▲ securing new license agreements and modality expansions for the Hybrozyme platform, ▲ reinforcing continuous innovation through both in-house development and open innovation, and ▲ achieving in-house GMP-level production capabilities.

He added, "We are preparing a hybrid business strategy that generates stable cash flow through sales of our own products and continuous technology exports of the Hybrozyme platform, while simultaneously strengthening stability and sustainability through both internal innovation and external collaboration. To ensure supply chain stability amid the expansion of commercialized products and the changing global environment, we are gradually internalizing GMP-level production facilities."

Alteogen succeeded in turning a profit on an annual basis in 2024. Thanks to new technology export contracts and milestone payments related to product approvals, the company posted cumulative sales of approximately 151.4 billion won and operating profit of 87.3 billion won for the first three quarters of last year, continuing its growth in performance. With the full-scale commercialization of products utilizing the Hybrozyme platform technology starting this year, the company expects its mid- to long-term financial stability and growth visibility to be further strengthened.