Halozyme Therapeutics Inc., a San Diego-based biopharmaceutical company, will receive $15 million as an initial payment from Pennsylvania-based Janssen Biotech Inc. as part of a collaboration and license agreement to develop and commercialize products combining Halozyme’s technology with Janssen’s compounds.
Halozyme’s technology is called Enhanze and it is based on a proprietary enzyme that aids in the dispersion and absorption of other injected therapeutic drugs.
“We are pleased that Janssen, a global leader in the development of novel therapeutics, has selected our Enhanze technology to further augment their development pipeline,” said Helen Torley, president and CEO of Halozyme. “This new global licensing agreement further validates our Enhanze platform technology, which we believe may benefit a growing number of patients worldwide by making therapies more convenient.”
Halozyme (Nasdaq: HALO) is eligible to receive additional payments upon Janssen’s achievement of specified development, regulatory and sales-based milestones totaling up to $566 million. Halozyme is also entitled to royalty payments based on net sales of products using the Enhanze technology.