Biobetter developer Alteogen said Wednesday it has signed a $3.87 billion contract with a top-10 global pharmaceutical to transfer technology that converts intravenous injections into subcutaneous injections.

The contract is to pass on ALT-B4, a human hyaluronidase made by using Alteogen’s Hybrozyme technology. ALT-B4 is a recombinant enzyme that breaks down hyaluronic acid, helping drugs to penetrate human subcutaneous tissue.

The contractor will pay Alteogen a $16 million upfront and up to $3.865 billion in milestone payments depending on clinical development, sales permit, and sales performance.

The contracting party acquired the right to develop subcutaneous injection products by applying Alteogen’s technology.

Alteogen’s ALT-B4 is a new technology that enhances the stability of the protein by increasing thermal stability while maintaining the unique action mechanism and enzyme activity of already known human hyaluronidase with protein engineering technology. The company used Hybrozyme technology to develop ALT-B4.

The amount of ALT-B4 for clinical development and commercial sale combined with antibody and bioproducts is produced and supplied under the responsibility of Alteogen.

In 2019, Alteogen signed a nonexclusive ALT-B4 deal with a top 10 global pharmaceutical company for an upfront payment of $13 million with additional payments of up to $1.37 billion.

Under the terms of confidentiality, the company withholds the names of its foreign partners.

“We are pleased to work with a global leader in antibody therapy. The world has recognized our technology through this contract,” Alteogen CEO Park Soon-jae said.