Halozyme has licensed its drug delivery technology to yet another company.
Under a deal announced Feb. 4, San Diego’s Halozyme netted a $30 million upfront payment from Argenx. The Netherlands-based company will use Halozyme’s enhanze – a platform that delivers drugs under the skin, or subcutaneously, an alternative to time-consuming infusions.
Argenx gained exclusive access to enhanze in the human neonatal Fc receptor FcRn, where the company’s lead drug candidate, efgartigimod, and two additional drug targets are directed.
In addition to the $30 million payment, Halozyme is eligible for $10 million per additional target, and up to $160 million in regulatory and sales milestones for each target. Halozyme could also receive mid-single digit royalties on drug sales.
“This collaboration is an example of the value enhanze can potentially bring while a product is still in development where the benefits of subcutaneous administration can be realized earlier by both patients and health care providers,” said Halozyme President and CEO Helen Torley in a news release.
Argenx marks Halozyme’s ninth enhanze partnership.
Besides enhanze, in the second half of the year analysts expect key clinical trial data to be released on Halozyme’s pegph20 in metastatic pancreas cancer. The therapeutic candidate is in a late-stage trial, or known as phase 3.