Halozyme Therapeutics seals two new agreements, sees shares soar

By Catherine Sturman
Global pharmaceutical company Bristol-Myers Squibb has recently partnered with Halozyme Therapeutics in order to obtain the license agreement to develop...

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.”

Related stories

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

Share

Featured Articles

Costco Weight-Loss Drugs Move Highlights US AOM Growth

Costco move to partner with online healthcare provider Sesame to provide members with weight-loss drugs including Wegovy signals US anti-obesity boom

AstraZeneca Company Profile, as CEO Soriot Lands pay Deal

As it's announced AstraZeneca's CEO Pascal Soriot's package could rise by as much as US$24mn we explore the history of the UK's most valuable business

US Academic Medical Centres 'Struggling' says McKinsey

McKinsey report reveals cost inflation is forcing AMCs to find operational efficiencies, or face cutting back on crucial training & education programmes

J&J Community Initiatives Tackle US Healthcare Chasm

Medical Devices & Pharma

PitchBook: Healthcare Private Equity Deals see Decline

Health Insurance & Finance

McKinsey: ‘Women’s Healthcare Neglected for Decades'

Digital Healthcare