Alteogen (196170.KQ) — Stock, Pipeline & Market Cap

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196170.KQ · Stock Price

KRW 356,500+4,000 (+1.13%)

Market Cap: $13.1B

Historical price data

Market Cap: $13.1BPipeline: 4 drugsPatents: 14Founded: 2008HQ: Seoul, South Korea

Sector Ranking#3 in Biologics / Biosimilars #1 in Drug Delivery & Formulation

Overview

Alteogen's mission is to develop innovative biobetter and biosimilar pharmaceuticals through its proprietary technology platforms. The company achieved a watershed financial performance in 2025, with consolidated revenue of KRW 2.159 trillion (approx. $1.6B USD) and net profit of KRW 1.443 trillion, driven by its platform-centric business model of licensing and profit-sharing. Its strategy focuses on expanding its technology moat through R&D and securing global partnerships to commercialize its pipeline, while transitioning to a mature, shareholder-returning entity.

OncologyMetabolic DisordersAutoimmuneVarious (Platform-enabled)

Technology Platform

A multi-platform biotech company with proprietary technologies for long-acting biologics (NexP™), next-generation antibody-drug conjugates (NexMab™), and subcutaneous drug delivery (Hybrozyme™).

Pipeline

4

4 drugs in pipeline

Drug	Indication	Stage
ALT02 + EU-licensed Herceptin + US-licensed Herceptin	Healthy	Phase 1
ALT-BB4 + 0.9%NaCl	Health, Subjective	Phase 1
Eylea + ALT-L9	Neovascular Age-related Macular Degeneration	Phase 1
ALT-P7 (HM2-MMAE)	HER2-positive Breast Cancer	Phase 1

Funding History

2

Total raised:$50M

IPO$30MUndisclosedDec 15, 2013

Series B$20MKorea Investment PartnersJun 15, 2011

Opportunities

The global shift to subcutaneous drug delivery and demand for long-acting biologics represent multi-billion dollar market opportunities.

Alteogen's platforms are key enablers, with proven ability to attract major pharmaceutical partners for high-value licensing deals.

Risk Factors

Revenue is heavily dependent on the success of the Keytruda SC partnership with Merck.

The company faces significant intellectual property litigation with Halozyme, and its earlier-stage platforms (NexP™, NexMab™) require further clinical validation against established competitors.

Competitive Landscape

Alteogen's Hybrozyme™ directly competes with Halozyme's ENHANZE® in the subcutaneous delivery space. Its long-acting and ADC platforms face competition from numerous proprietary technologies. Its differentiation lies in its integrated multi-platform approach and proven partnership execution.