Halozyme Therapeutics Inc. has entered a potential $1.19 billion collaboration and licensing agreement with AbbVie Inc. surrounding Halozyme’s drug-delivery technology.
The company announced a global collaboration and license agreement with AbbVie to develop and commercialize products combining proprietary AbbVie compounds with Halozyme’s Enhanze platform, the company’s drug delivery platform based on its patented recombinant human hyaluronidase enzyme (rHuPH20).
Under the deal, AbbVie will pay Halozyme an initial $23 million payment, followed by milestone payments of $130 million for each of the up to nine collaboration targets. These payments are based on whether AbbVie achieves specific development, regulatory and sales-based milestones. Additionally, AbbVie will pay Halozyme tiered royalties if products under the collaboration are commercialized.
“We are pleased that AbbVie, a global leader in the development of novel therapeutics, has chosen Halozyme’s Enhanze platform to augment their development pipeline,” said Dr. Helen Torley, president and chief executive officer. “AbbVie joins a growing number of top pharmaceutical and biotech companies partnering with Halozyme to develop new formulations that will benefit patients worldwide.”
AbbVie joins companies like Baxter International, Janssen Biotech, Pfizer and Roche.
Halozyme’s Enhanze platform is based on rHuPH20, an enzyme that temporarily degrades hyaluronan, a chain of natural sugars in the body, to aid in the dispersion and absorption of other injected therapeutic drugs. For AbbVie, this technology may allow for more rapid delivery of injectable drugs through subcutaneous delivery. Additionally, Enhanze may also benefit subcutaneous biologics by reducing the need for multiple injections. Not only has this delivery shown to reduce the health care practitioners’ time required for administration, it also shortens the time for drug administration.
Source: Halozyme Therapeutics, Inc.
Last updated: 6/3/15; 4:25pm EST