-- Halozyme Grants Exclusive, Global Rights to Roche for Use of Enhanze(TM) Technology with Biologics Directed against Fifth Target --
SAN DIEGO--(BUSINESS WIRE)--Jun. 9, 2009--
Halozyme Therapeutics, Inc. (Nasdaq: HALO), a biopharmaceutical company
developing and commercializing products targeting the extracellular
matrix, today announced that Roche has selected a fifth exclusive target
under the existing license and collaboration agreement. Under the terms
of the agreement, Roche will pay Halozyme $4.25 million, which is net of
previously paid maintenance fees, for exclusive, global rights for the
application of its hyaluronidase enzyme, rHuPH20, to a fifth biologic
Halozyme Roche Collaboration
In December 2006, Halozyme entered into an agreement with Roche to apply
Halozyme’s proprietary Enhanze™ Technology to Roche’s biological
therapeutic compounds. Under the terms of the agreement, Roche paid
Halozyme an initial payment for the application of its recombinant human
enzyme, rHuPH20, to three pre-defined Roche biologic targets. Roche
selected a fourth biologic target in December 2008, has now selected a
fifth target, and has the option to exclusively develop and
commercialize rHuPH20 with an additional eight targets. Pending the
successful achievement of a series of clinical, regulatory, and sales
events, Roche may pay Halozyme additional milestones as well as
royalties on potential future product sales. Under the collaboration,
Roche has access to Halozyme’s expertise in developing and applying
rHuPH20 to Roche targets. Roche obtained a worldwide, exclusive license
to develop and commercialize product combinations of rHuPH20 and Roche
target compounds resulting from the collaboration.
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 concerning Roche’s progress under the
collaboration) 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.
Halozyme Therapeutics, Inc.
Robert H. Uhl