SAN DIEGO--(BUSINESS WIRE)--Jun. 3, 2009--
Halozyme Therapeutics, Inc. (Nasdaq: HALO) announced deprioritization of
its Bisphosphonate-PH20 Phase 1 program for osteoporosis. Halozyme
management has decided to deploy resources to its other more
commercially attractive internal programs in endocrinology, oncology,
Preclinical data presented by Halozyme Therapeutics at the 2008 American
Association of Cancer Research meeting noted that bisphosphonates
formulated for intravenous administration cause severe injection site
reactions (ISRs) when administered locally. While Halozyme successfully
completed dosing for eight cohorts of varying concentrations of
bisphosphonate in combination with PH20, the occurrence of mild to
moderate ISRs at commercially attractive volumes and dosing schedules
exceeded the company’s predefined benchmarks for moving forward.
“We have a rigorous portfolio management process designed to support the
development and commercialization of first in class or best in class
products,” stated Jonathan Lim, M.D., Halozyme’s president and CEO.
“Based on this open label study, the results do not justify further
development of Bisphosphonate-PH20 for osteoporosis. We will reallocate
our resources to more commercially attractive product candidates in
About Halozyme Therapeutics, Inc.
Halozyme is a biopharmaceutical company developing and commercializing
products targeting the extracellular matrix for the endocrinology,
oncology, dermatology and drug delivery markets. The company's portfolio
of products and product candidates is based on intellectual property
covering the family of human enzymes known as hyaluronidases and
additional enzymes that affect the extracellular matrix. Halozyme’s
Enhanze™ Technology is a novel drug delivery platform
designed to increase the absorption and dispersion of biologics. The
company has key partnerships with Roche to apply Enhanze Technology to
Roche’s biological therapeutics for up to 13 targets and with Baxter
BioScience to apply Enhanze Technology to Baxter’s biological
therapeutic compound, GAMMAGARD LIQUID™. The product
candidates in Halozyme’s research pipeline target multiple areas of
significant unmet medical need. For more information visit www.halozyme.com.
Safe Harbor Statement
In addition to historical information, the statements set forth above
include forward-looking statements (including, without
limitation, statements relating to clinical trial results and
conclusions, the company’s portfolio management process and the
reallocation of corporate assets to other programs) that involve risk
and uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. The forward-looking
statements are also identified through use of the words "believe,"
"enable," "may," "will," "could," "intends," "estimate," "anticipate,"
"plan," "predict," "probable," "potential," "possible," "should,"
"continue," and other words of similar meaning. Actual results could
differ materially from the expectations contained in forward-looking
statements as a result of several factors, including regulatory approval
requirements and competitive conditions. These and other factors that
may result in differences are discussed in greater detail in the
company's reports on Forms 10-K, 10-Q, and other filings with the
Securities and Exchange Commission.
Source: Halozyme Therapeutics, Inc.
Robert H. Uhl
Senior Director, Investor