Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
ALTEOGEN announced that it is scheduled to receive a milestone payment of USD 25M (approx. KRW 35.06B) following US FDA marketing approval for the subcutaneous (SC) formulation of Pembrolizumab using ALT-B4 licensed to MSD.
📊 [Key Disclosure Details & Major Figures Summary]
- Counterparty: MSD International Business GmbH (MSD)
- Milestone Trigger Event: US FDA marketing authorization approval for Pembrolizumab SC formulation applied with ALT-B4 human hyaluronidase platform
- Milestone Amount: USD 25,000,000 (Approx. KRW 35,055,000,000)
- FX rate applied: KRW 1,402.20/USD (SEOUL MONEY BROKERAGE basic rate on September 30, 2025)
- Exceeds 10% of prior fiscal year (FY2024) consolidated revenue (approx. KRW 102.85B), triggering mandatory disclosure
- Expected Payment Schedule: Scheduled for receipt within 30 days from invoice date (September 30, 2025)
- Fact Confirmation / Decision Date: September 30, 2025 (Date of receiving milestone notification from MSD and issuing invoice)
- Key Terms & Reference:
- No refund obligations for upfront or milestone payments received upon agreement termination
- Agreement originally executed in June 2020; amendment signed in February 2024 permitted disclosure of counterparty name (MSD) and target product (SC Pembrolizumab)
- Related Filings: Non-Exclusive License Agreement for ALT-B4 (Jun 24, 2020), Amendment to ALT-B4 License Agreement (Feb 22, 2024)
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Milestone Payment Inflow Following US FDA Approval
This disclosure reports the issuance of an invoice for milestone fees following the US FDA approval of Pembrolizumab SC. Confirming the actual receipt of the USD 25M within the designated 30-day window is essential because it allows investors to verify the concrete financial realization and accounting recognition of the milestone payment. Detailed updates can be cross-checked in subsequent periodic filings (Quarterly, Half-Yearly, and Annual Reports) and related disclosure announcements.
📢 Disclaimer & Source Notice
Source: This content has been structured and newly created based on official filing data from the Financial Supervisory Service (DART).
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