SAN DIEGO, Dec. 17, 2014 /PRNewswire/ -- Halozyme
Therapeutics, Inc. (NASDAQ: HALO) announced today that it has
entered into a worldwide Collaboration and License Agreement with
Janssen Biotech, Inc. (Janssen) for the purpose of developing and
commercializing products combining proprietary Janssen compounds
with Halozyme's ENHANZE™ technology. ENHANZE is based on a
proprietary recombinant human hyaluronidase enzyme (rHuPH20) that
temporarily modifies hyaluronan, a component of the extracellular
matrix, to aid in the dispersion and absorption of other injected
therapeutic drugs.
"We are pleased that Janssen, a global leader in the development
of novel therapeutics, has selected our ENHANZE technology to
further augment their development pipeline," said Dr. Helen Torley, President and Chief Executive
Officer. "This new global licensing agreement further validates our
ENHANZE platform technology, which we believe may benefit a growing
number of patients worldwide by making therapies more
convenient."
Under the terms of the agreement, Halozyme has granted to
Janssen a worldwide license to develop and commercialize products
for up to five targets combining rHuPH20 with Janssen's proprietary
compounds. Halozyme will receive an initial payment of
$15 million, and is eligible to
receive additional payments upon Janssen's achievement of specified
development, regulatory and sales-based milestones, totaling up to
$566 million. Halozyme is also
entitled to royalty payments based on net sales of products using
the ENHANZE technology. Under the collaboration, Janssen will also
obtain access to Halozyme's expertise in developing and applying
rHuPH20 to Janssen targets and will obtain a worldwide, exclusive
license to develop and commercialize product combinations of
rHuPH20 and Janssen target compounds resulting from the
collaboration.
About ENHANZE™
ENHANZE™ is Halozyme's proprietary drug delivery platform based
on the Company's patented recombinant human hyaluronidase enzyme
(rHuPH20). rHuPH20 has been shown to remove traditional limitations
on the volume of biologics that can be delivered subcutaneously
(just under the skin). By using rHuPH20, some biologics and
compounds that are administered intravenously may instead be
delivered subcutaneously. ENHANZE may also benefit subcutaneous
biologics by reducing the need for multiple injections. This
delivery has been shown in studies to reduce health care
practitioner time required for administration and shorten time for
drug administration.
About Halozyme
Halozyme Therapeutics is a biopharmaceutical company
dedicated to developing and commercializing innovative products
that advance patient care. With a diversified portfolio of enzymes
that target the extracellular matrix, the Company's research
focuses primarily on a family of human enzymes, known as
hyaluronidases, which increase the dispersion and absorption of
biologics, drugs and fluids. Halozyme's pipeline addresses
therapeutic areas, including oncology, diabetes and dermatology
that have significant unmet medical need today. The Company markets
Hylenex® recombinant (hyaluronidase human
injection) and has partnerships with Roche, Pfizer and
Baxter. Halozyme is headquartered
in San Diego, CA. For more information on how we are
innovating, please visit our corporate website at
www.halozyme.com.
Safe Harbor Statement
In addition to historical information, the statements set forth
above include forward-looking statements (including, without
limitation, statements concerning the development and
commercialization of product candidates under the Halozyme-Janssen
collaboration, the potential benefits and attributes of such
product candidates, the possible receipt by Halozyme of future
payments including milestones and royalties) that involve risk and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. The forward-looking
statements are also identified through use of the words "believe,"
"enable," "may," "will," "could," "intends," "estimate,"
"anticipate," "plan," "predict," "probable," "potential,"
"possible," "should," "continue," and other words of similar
meaning. Actual results could differ materially from the
expectations contained in forward-looking statements as a result of
several factors, including unexpected results or delays in
development and regulatory review, regulatory approval
requirements, unexpected adverse events, competitive conditions and
the continuation of the Halozyme-Janssen collaboration. These and
other factors that may result in differences are discussed in
greater detail in Halozyme's Quarterly Report on Form 10-Q filed
with the Securities and Exchange Commission on November 10, 2014.
Investor Contact:
Schond Greenway
Halozyme Therapeutics
858-704-8352
ir@halozyme.com
Media Contact:
Susan Neath
Francis
212-301-7182
sfrancis@w2ogroup.com
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SOURCE Halozyme Therapeutics, Inc.