San Diego-based Halozyme Therapeutics Inc. said the commercial launch of a cancer therapeutic in Europe has triggered a $5 million milestone payment to company under an agreement with Roche.
The launch of MabThera SC in Europe is the second novel subcutaneous formulation of one of Roche's oncology products using Halozyme’s (Nasdaq: HALO) patented EnhanzeTM technology to be launched in Europe, according to Halozyme.
The subcutaneous administration enables the delivery of MabThera over roughly five minutes versus 2.5 hours for intravenous delivery, the company said.
Roche is exploring other uses of Halozyme’s technology, according to Halozyme.
Halozyme Therapeutics is a biopharmaceutical company with a diversified portfolio of enzymes — which increase the dispersion and absorption of biologics, drugs and fluids — used to apply targeted therapeutics.