Alteogen (196170), one of the leading biotech companies on South Korea’s KOSDAQ market, will invest ₩253 billion, or about $183 million, in a biopharmaceutical manufacturing facility in the Dungok district of Yuseong, Daejeon. The project, covered by a business agreement with Daejeon City, is expected to create 135 jobs. A company project record previously put the investment at ₩253.2 billion, or about $183.0 million, and said the board had approved the plant, with construction planned before the end of this year and completion targeted for September 2028. The facility will produce active pharmaceutical ingredients and finished drug products, including ALT-B4, Alteogen’s recombinant human hyaluronidase used in its subcutaneous-injection reformulation platform, and ALT-L9, its Eylea biosimilar. The plant will provide an internal production base as Alteogen expands beyond technology out-licensing and seeks to stabilize its global supply chain. Founded in 2008, the company aims to have at least nine commercialized products by 2030. Alteogen President Jeon Tae-yeon said the company would continue investing in technology and jobs to help develop Daejeon into a global bio-production hub, while Daejeon Mayor Huh Tae-jung pledged multifaceted support for the project.