Halozyme Expands Global Collaboration With Argenx For ENHANZE Drug Delivery Technology

(RTTNews) - Halozyme Therapeutics, Inc. (HALO) announced Thursday that argenx SE has nominated four new targets under its global collaboration and license agreement that provides argenx exclusive access to Halozyme's ENHANZE drug delivery technology

ENHANZE drug delivery technology is a proprietary recombinant human hyaluronidase PH20 enzyme (rHuPH20) for rapid subcutaneous drug delivery.

Netherlands-based argenx, a global immunology company, now has exclusively licensed ENHANZE for a total of six targets, including for the neonatal Fc receptor (FcRn) target.

Under the terms of the expanded exclusive agreement, argenx will make upfront payments of $7.5 million per target nomination for a total of $30 million to Halozyme, and potential future milestone payments related to development progress, regulatory approvals, and sales attainment of up to $85 million per nominated target.

The royalty rate for all products under the agreement is a tiered mid-single digit rate based on annual net sales until expiration of Halozyme's ENHANZE related patents, when the rate will be reduced in one or more steps.

Royalties will be paid for the longer of 10 years from the first commercial sale or until the expiration of the last valid claim of a co-formulation patent.