Alteogen officially announced on the 22nd that it will receive an additional USD 20 million (approximately KRW 26.7 billion) from the multinational pharmaceutical giant MSD under the terms of their modified agreement.

In June 2020, Alteogen signed a non-exclusive licensing agreement with MSD for its proprietary human hyaluronidase technology (ALT-B4). At the time, The upfront payment was USD 160 million. MSD is using the technology to develop a subcutaneous (SC) formulation of Keytruda (pembrolizumab).

Alteogen explained that the original agreement had been modified into an exclusive agreement. The company will grant exclusive licensing rights to the Keytruda line of products that MSD i