Halozyme Therapeutics And Pfizer to collaborate on development and commercialisation of subcutaneous biologics using recombinant human hyaluronidase
Dec 24, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Biopharmaceutical company Halozyme Therapeutics Inc HALO announced on Friday the signing of a worldwide collaboration and license agreement with healthcare company Pfizer Inc PFE for the purpose of developing and commercialising products combining proprietary Pfizer biologics with Halozyme's Enhanze technology.
Enhanze is Halozyme's proprietary drug delivery platform and is based on its patented recombinant human hyaluronidase enzyme (rHuPH20).
Under the terms of the agreement Halozyme has granted to Pfizer a worldwide license to develop and commercialise products combining rHuPH20 with Pfizer proprietary biologics directed to up to six targets. These targets may be selected on an exclusive or non-exclusive basis.
Halozyme will receive an initial payment of USD8.0m, which includes the upfront fee for exclusive licenses to two specified therapeutic targets in primary care and speciality care indications and the right for Pfizer to elect up to four additional targets upon payment of additional fees.
In addition, Halozyme is eligible to receive additional payments upon Pfizer's achievement of specified development, regulatory and sales-based milestones, totalling up to USD507m and is also entitled to royalty payments based on net sales of any licensed products.
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