Halozyme Therapeutics Inc. reached a global collaboration and
licensing agreement with AbbVie Inc. potentially valued at $1.19
billion to develop and commercialize products that combine AbbVie's
treatments and Halozyme's Enhanze drug-delivery technology.
Halozyme shares rose 7% to $17.99 in recent premarket
trading.
Under the agreement, San Diego-based Halozyme will receive an
upfront payment of $23 million following by potential milestone
payments of about $130 million each for as many as nine
collaboration targets.
The biotechnology company's Enhanze platform helps in the
dispersion and absorption of other injected therapeutic drugs.
Write to Tess Stynes at tess.stynes@wsj.com
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