SAN DIEGO, Sept. 14, 2017 /PRNewswire/ -- Halozyme
Therapeutics, Inc. (NASDAQ: HALO) announced today it licensed its
ENHANZE® drug-delivery technology to Roche for exclusive
development of an undisclosed therapeutic target.
Under terms of the agreement, Halozyme will receive an initial
$30 million with the potential to
earn additional payments of up to $160
million subject to achievement of specified development,
regulatory and sales-based milestones. Halozyme will also receive
tiered, mid-single digit royalties on sales of commercialized
products.
"We are pleased to broaden our longstanding collaboration with
Roche to include selection of a new target," said Dr. Helen Torley, president and CEO. "With each new
licensing agreement, we see the potential for our global partners
to advance their innovative therapies, reducing the treatment
burden for patients, caregivers and payers through shorter
administration times or a less frequent dosing regimen."
The Halozyme/Roche relationship dates back to the original
global collaboration and licensing agreement for the ENHANZE
technology signed in 2006. From this agreement, Roche developed two
subcutaneous formulations of cancer drugs for markets worldwide.
More recently, the relationship expanded to include the study of
Halozyme's investigational oncology drug, PEGPH20, with
atezolizumab as part of a clinical collaboration announced in
2016.
The Halozyme ENHANZE technology is based on a proprietary
recombinant human hyaluronidase enzyme (rHuPH20) that temporarily
degrades hyaluronan -- a glycosaminoglycan or chain of natural
sugars in the body -- to aid in the dispersion and absorption of
other injected therapeutic drugs. For Halozyme partners, this
technology may allow for more rapid delivery of injectable
medications through subcutaneous delivery.
About ENHANZE® Technology
Halozyme's
proprietary ENHANZE® drug-delivery
technology is based on its 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
biotechnology company focused on developing and commercializing
novel oncology therapies that target the tumor microenvironment.
Halozyme's lead proprietary program, investigational drug PEGPH20,
applies a unique approach to targeting solid tumors, allowing
increased access of co-administered cancer drug therapies to the
tumor in animal models. PEGPH20 is currently in development for
metastatic pancreatic cancer, non-small cell lung cancer, gastric
cancer, metastatic breast cancer and has potential across
additional cancers in combination with different types of cancer
therapies. In addition to its proprietary product portfolio,
Halozyme has established value-driving partnerships with leading
pharmaceutical companies including Roche, Baxalta, Pfizer, Janssen,
AbbVie and Lilly for its ENHANZE® drug delivery technology.
Halozyme is headquartered in San
Diego. For more information visit 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
possible activity, benefits and attributes of ENHANZE, the possible
method of action of ENHANZE, its potential application to aid in
the dispersion and absorption of other injected therapeutic drugs,
the number of collaborative targets actually chosen, whether such
products are ultimately developed or commercialized, whether
milestones triggering milestone payments will be achieved, and
statements concerning facilitating more rapid delivery of
injectable medications through subcutaneous delivery 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 typically, but not always,
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 expenditures and costs, unexpected results or
delays in development and regulatory review, regulatory approval
requirements, unexpected adverse events and competitive conditions.
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. Except as
required by law, Halozyme undertakes no duty to update
forward-looking statements to reflect events after the date of this
release.
Contacts:
Jim
Mazzola
858-704-8122
ir@halozyme.com
Chris Burton
858-704-8352
ir@halozyme.com
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SOURCE Halozyme Therapeutics, Inc.