Alexion Gains Access To ENHANZE Technology; Halozyme To Receive $40 Mln Payment

(RTTNews) - Alexion Pharmaceuticals, Inc. (ALXN) and Halozyme Therapeutics, Inc. (HALO) announced a collaboration and license agreement that enables Alexion to use Halozyme's ENHANZE drug-delivery technology in the development of subcutaneous formulations for their portfolio of products. The agreement provides Alexion with the opportunity for exclusive development of up to four targets.

Halozyme will receive an initial $40 million with the potential to earn additional payments of up to $160 million for each target developed, subject to achievement of specified development, regulatory and sales-based milestones. Halozyme will also receive mid-single digit royalties on sales of commercialized products.

Alexion is Halozyme's eighth global collaboration and license partner for the ENHANZE technology, and the third partnership formed in 2017.