08:43 AM EDT, 03/25/2026 (MT Newswires) -- (Updates with confirmation from Alteogen)

Biogen (BIIB) has entered an exclusive licensing agreement with Alteogen to develop subcutaneous formulations of two biologic therapies using Alteogen's ALT-B4 drug-delivery technology, the latter said Wednesday.

Alteogen said it will receive an upfront payment of $20 million upon signing, with an additional $10 million payment once development of the second product begins. The company is also eligible for up to $549 million in development, regulatory and sales milestone payments tied to the two programs, it added.

Biogen will obtain exclusive rights to use Alteogen's ALT-B4 (berahyaluronidase alfa) platform to convert biologics typically administered through intravenous infusion into subcutaneous formulations, the company said.

The agreement also includes an option for Biogen to expand the collaboration to a third product, it added.