HALO Halozyme Therapeutics Incorporated

   By Ben Fox Rubin 
 

Biopharmaceutical company Halozyme Therapeutics Inc. (HALO) has entered into a worldwide collaboration and license agreement with pharmaceuticals company Pfizer Inc. (PFE) to develop and commercialize potential treatments that combine Pfizer and Halozyme products.

Under the terms of the agreement, Halozyme granted Pfizer a worldwide license to develop and commercialize products combining Halozyme's patented recombinant human hyaluronidase enzyme with Pfizer proprietary biologics directed to up to six targets.

Halozyme will receive an initial payment of $8 million and is eligible to receive additional payments totaling up to $507 million upon Pfizer reaching certain milestones. Halozyme is also entitled to royalty payments based on net sales of any licensed products.

Halozyme's shares were halted premarket at $5.52, while Pfizer's were down 1.3% at $25.11 premarket.

Write to Ben Fox Rubin at ben.rubin@dowjones.com

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