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– Part of the 2,000 Billion Won investment was used to build a new biopharmaceutical production facility… The rest is invested in introducing new product platform technology for future growth.
– Plan to go one step further from the ALT-B4-centered business structure and secure new growth engines early on
– Institutional Investors’ interest in mid- to long-term growth potential through confirmed long-term investment participation by National Growth Fund and Sky Lake
Alteogen (196170) is seeking to secure a future growth engine that will succeed ALT-B4 by attracting 2,000 Billion Won worth of investment from the National Growth Fund and Sky Lake. Part of the investment will be used to build new biopharmaceutical production facilities, and the remainder will be used to introduce new products and platform technologies. The strategy is to go one step further from the ALT-B4-centered business structure and secure new growth engines at an early stage.
Alteogen announced on the 6th that it would proactively lay the foundation for future growth based on current business performance.
The National Growth Fund is a policy fund to supply long-term funds to high-tech strategic industries and future growth industries, and plans to supply a total of 30 Trillion Won in 2026. Among these, the indirect investment sector is being promoted by private managers managing their own funds.
Alteogen issues a total of 2,000 Billion Won worth of shares to Sky Alt, which was established through matching between the National Growth Fund and Sky Lake. Among these, 1,000 Billion Won will be issued as convertible preferred stock (CPS) and 1,000 Billion Won will be issued as redeemable convertible preferred stock (RCPS), and the issuance price of RCPS has been determined to be a 10.3% premium compared to the standard price.
Securing new growth engines beyond commercialization of ALT-B4
Alteogen signed licensing agreements with 10 global pharmaceutical companies, including MSD, AstraZeneca, Sanofi, Novartis, GSK, Biogen, Daiichi Sankyo, and Sandoz, based on ALT-B4 (ingredient name: berahyaluronidase alfa), the core substance of Hybrozyme®, its own subcutaneous injection formulation change platform.
In particular, MSD's Keytruda subcutaneous injection formulation with ALT-B4 received approval in the United States, Europe, Canada, Korea, and Japan, and has established itself as a blockbuster product within a year of its launch. The company expects that sales milestones and royalty income will continue to be generated in the future as sales of commercialized products expand. Based on this, Alteogen plans to take the current business structure one step further and secure new growth engines early on.
Some of the funds secured through this investment will be used to introduce external pipelines such as new products and platform technologies. The plan is to continue the growth of the ALT-B4 business and build a portfolio that can increase the company's mid- to long-term corporate value by securing new products and technologies.
Taeyeon Jeon, CEO of Alteogen, said, “We expect milestones and royalties to continue to flow in the future through the ALT-B4 business, but we decided that it is important to secure a new growth engine for the company’s future rather than relying only on one platform,” adding, “Using the investment from the National Growth Fund, we will quickly secure products and technologies with high growth potential and expand the foundation for our future business.”
Prepare for future business expansion by building a new biopharmaceutical plant
Part of the investment will be used to build new production facilities. Alteogen is pursuing the construction of a factory in Daejeon to secure the production capacity necessary for future business expansion and to establish a production infrastructure that can respond to the growth of products and business.
The company plans to expand production facilities and introduce new product and platform technologies in parallel to build a mid- to long-term growth foundation that goes beyond securing technology at the research and development stage and also considers the commercialization stage in the future.
Participating in long-term investments such as Skylake... Interested in mid- to long-term growth potential
The company explains that the fact that Skylake Equity Partners, a major domestic institutional investor, participated as a long-term investor is also significant in terms of Alteogen's mid- to long-term growth strategy.
SkyLake is a private equity investment management company with approximately 3.5 Trillion Won in assets under management and has experience investing in high-tech industries and growth companies. In 2026, by being selected as the national growth fund large league consignment manager (GP), policy funds worth approximately 2,000 Billion Won were secured.
CEO Jeon Tae-yeon said, “It is meaningful in that major domestic institutional investors, such as Sky Lake, participated in the investment by seeing Alteogen’s business competitiveness and growth potential from a long-term perspective rather than a short-term perspective. With this investment, we will connect current business performance with future growth engines and secure new products and technologies to create a foundation for sustainable growth.”
He added, “As the global commercialization of ALT-B4 is expanding, our goal is to secure future growth for the company early and continuously increase corporate value by actively securing new products and technologies.”
Skylake CEO Min Hyuk-ki said, “Alteogen is leading the domestic bio industry based on differentiated technology in the field of biopharmaceutical research and development, and we especially appreciated the fact that it is building a competitive business model that can expand its business in the global market and continue to grow based on ALT-B4.” He added, “Alteogen is the first investment company of the fund created this time, and we hope that Alteogen will secure new growth engines and leap forward as a global bio company.”
