Halozyme Enters Global Collaboration Agreement with GSK

Halozyme Therapeutics (HALO) announced the company entered into a global collaboration and license agreement with GSK (GSK). Under the collaboration, GSK has licensed Halozyme's ENHANZE drug delivery technology for the development and potential commercialization of subcutaneous administration of multiple oncology targets, including antibody drug conjugates, as well as an option for additional future drug targets. "We are excited to work with GSK to advance development of several oncology therapeutics. This agreement also marks our first collaboration on subcutaneous delivery of ADCs, where we believe subcutaneous delivery with ENHANZE may meaningfully improve the benefit-risk profile," said Dr. Helen Torley, President and Chief Executive Officer of Halozyme. "This collaboration reflects the continued recognition of ENHANZE as the gold standard for rapid, large-volume subcutaneous delivery, and underscores the value it provides to a growing number of leading pharmaceutical and biotechnology companies. Extending use of ENHANZE with ADCs represents a meaningful expansion of our potential addressable market, positions us at the forefront of a rapidly growing therapeutic class and reinforces the durability of our high-margin royalty revenue business." "Novel approaches are required to reduce treatment burden for patients with cancer and help access easier forms of treatment," said Eric Richards, SVP Head of Medicine Development Leaders Oncology, GSK. "We see significant potential for subcutaneous formulations of several promising cancer targets, including ADCs, with ENHANZE and look forward to progressing the first clinical program." GSK will make an upfront payment to Halozyme and potential future milestone payments. Halozyme will also be entitled to royalties on net sales of products that incorporate ENHANZE.