Halozyme Therapeutics seals two new agreements, sees shares soar

Global pharmaceutical company Bristol-Myers Squibb has recently partnered with Halozyme Therapeutics in order to obtain the license agreement to develop immuno-oncology medicines using the company’s Enhanze drug-delivery technology for an initial $105 million.

Halozyme’s Enhanze technology has been seen to reduce the time required to administer medications intravenously, and will provide long-term benefits within the delivery of patient-centered care in the way in which medication will be provided.

Bristol-Myers Squibb has designated multiple immuno-oncology targets, where the collaboration may extend to a maximum of 11 targets.

“We are excited to partner with Halozyme to pursue potential new approaches to how our medicines are delivered to patients,” said Murdo Gordon, Chief Commercial Officer, Bristol-Myers Squibb. “Through our work with Halozyme, we hope to improve the patient treatment experience by developing flexible and convenient treatment delivery options.”

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Dr. Helen Torley, President and Chief Executive Officer of Halozyme said: “Through this collaboration we are excited to explore the potential for Enhanze to expand the number of cancer patients who may receive their therapies as a rapidly administered subcutaneous injection.”

Through this collaboration, Halozyme will gain the opportunity to receive milestone payments up to $160 million, plus royalties on sales of products using the Enhanze technology.

Halozyme has also recently licensed its Enhanze technology to Roche, where it will receive an initial $30 million, with potential to receive additional payments of up to $160 million in sales-based milestones and royalties.

"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," commented Dr Torley.

With the prospect of increased revenue by up to $260 million, shares for Halozyme have increased