SAN DIEGO, May 22, 2019 /PRNewswire/ -- Halozyme
Therapeutics, Inc. (NASDAQ: HALO), a biotechnology company
developing novel oncology and drug-delivery therapies, today
announced that argenx has selected a second target under the
collaboration and license agreement the companies announced in
February 2019.
The second target selected for development by argenx is human
complement factor C2 associated with the product candidate
ARGX-117, which is being developed to treat severe autoimmune
diseases. Halozyme will receive a $10
million milestone payment during the current quarter from
argenx for this target nomination and potential future payments of
up to $160 million subject to
achievement of specified development, regulatory and sales-based
milestones. Halozyme will also receive mid-single digit royalties
on future commercial sales products. argenx has now selected two
targets for development and can select one additional target in the
future according to the terms of the collaboration and license
agreement.
"We are excited about this opportunity to expand our partnership
with argenx," said Dr. Helen Torley,
president and chief executive officer. "Planning is well underway
for the second half 2019 phase 1 study initiation for the first
selected target, FcRn. This second development stage target to be
used with our ENHANZE® drug delivery technology is yet
another example of the potential for ENHANZE® to provide
dosing optionality for patients. We look forward to continuing our
work with argenx as they seek to improve the lives of patients
suffering with severe autoimmune diseases."
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
pegvorhyaluronidase alfa (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 the treatment of
several cancers and has the potential to be used 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, Lilly,
Bristol-Myers Squibb, Alexion and argenx 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,
and statements concerning certain other potential benefits of
ENHANZE® including facilitating more rapid delivery of
injectable medications through subcutaneous delivery. These
forward-looking statements also include statements regarding
Halozyme's potential receipt of payments associated with future
collaborative target nominations, achievement of certain
milestones, and royalties on sales of commercialized products.
These forward-looking statements involve risks 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 uncertainties concerning the number of
additional collaborative targets nominated and whether milestones
will be achieved, uncertainties concerning whether collaborative
products are ultimately developed or commercialized, unexpected
expenditures and costs, unexpected results or delays in development
and regulatory review, unexpected 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 most recent Annual and Quarterly
Reports 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.
Contact:
Al Kildani
Vice President, Investor Relations and Corporate Communications
858-704-8122
ir@halozyme.com
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SOURCE Halozyme Therapeutics, Inc.