Halozyme, Pfizer enter drug delivery platform deal

Singapore: Halozyme Therapeutics has collaborated with Pfizer for the purpose of developing and commercializing products combining proprietary Pfizer biologics with Halozyme's Enhanze technology. Enhanze is Halozyme's proprietary drug delivery platform and is based on the company's patented recombinant human hyaluronidase enzyme (rHuPH20).

Under the terms of the agreement, Halozyme has granted to Pfizer a worldwide license to develop and commercialize products combining rHuPH20 with Pfizer proprietary biologics directed to up to six targets. Targets may be selected on an exclusive or non-exclusive basis. Halozyme will receive an initial payment of $8 million, which includes the upfront fee for exclusive licenses to two specified therapeutic targets in primary care and specialty care indications and the right for Pfizer to elect up to four additional targets upon payment of additional fees.

"I am delighted about this opportunity as it has the potential to enhance Pfizer's ability to optimize treatments for patients," said Mr Jose Carlos Gutierrez-Ramos, senior VP, Pfizer BioTherapeutics R&D.

Halozyme is eligible to receive additional payments upon Pfizer's achievement of specified development, regulatory and sales-based milestones, totaling up to $507 million. Halozyme is also entitled to royalty payments based on net sales of any licensed products.

"We look forward to working with Pfizer to apply Enhanze to these exciting targets," said Dr Gregory I Frost, president and CEO, Halozyme. "Enhanze enables biologics to be delivered as a simple subcutaneous injection."