SAN DIEGO, Jan. 21, 2016 /PRNewswire/ -- Halozyme
Therapeutics, Inc. (NASDAQ: HALO) today announced that AbbVie has
dosed the first subject in a clinical trial evaluating the safety
and pharmacokinetics of adalimumab with Halozyme's proprietary
ENHANZE™ technology.
"We are pleased that the first product candidate with AbbVie has
been advanced into clinical testing just seven months after forming
our collaboration agreement," said Dr. Helen Torley, president and chief executive
officer. "The progress is encouraging as we seek to help an even
broader population of patients with our ENHANZE platform."
The initiation of clinical evaluation triggered a $5 million milestone payment to Halozyme under
the Collaboration and License Agreement between the
companies.
Halozyme's ENHANZE technology is based on a proprietary
recombinant human enzyme (rHuPH20) that temporarily degrades
hyaluronan, a glycosaminoglycan or chain of natural sugars in the
body, to aid in the dispersion and absorption of other injected
therapeutic drugs.
Halozyme Collaboration with AbbVie
In June 2015, Halozyme and AbbVie entered into a
collaboration and license agreement. Under the terms of the
agreement, Halozyme has granted to AbbVie a worldwide license to
develop and commercialize products for up to nine targets,
combining rHuPH20 with AbbVie's proprietary compounds. Halozyme
received an initial payment of $23
million, and is eligible to receive additional payments upon
AbbVie's achievement of specified development, regulatory and
sales-based milestones, totaling up to $130
million per target. Halozyme is also entitled to tiered
royalty payments based on net sales of products using the ENHANZE™
technology.
About ENHANZE™
ENHANZE™ is Halozyme's proprietary
drug delivery platform based on its patented recombinant human
hyaluronidase enzyme (rHuPH20). rHuPH20 has been shown to remove
traditional limitations on the volume of biologics that can be
delivered subcutaneously (just under the skin). By using rHuPH20,
some biologics and compounds that are administered intravenously
may instead be delivered subcutaneously. ENHANZE may also benefit
subcutaneous biologics by reducing the need for multiple
injections. This delivery has been shown in studies to reduce
health care practitioner time required for administration and
shorten time for drug administration.
About Halozyme
Halozyme Therapeutics is a
biotechnology company focused on developing and commercializing
novel oncology therapies that target the tumor microenvironment.
Halozyme's lead proprietary program, investigational drug PEGPH20,
applies a unique approach to targeting solid tumors, allowing
increased access of co-administered cancer drug therapies to the
tumor in animal models. PEGPH20 is currently in development for
metastatic pancreatic cancer, non-small cell lung cancer, gastric
cancer, metastatic breast cancer and has potential across
additional cancers in combination with different types of cancer
therapies. In addition to its proprietary product portfolio,
Halozyme has established value-driving partnerships with leading
pharmaceutical companies including Roche, Baxalta, Pfizer, Janssen,
AbbVie and Lilly for its ENHANZE™ drug delivery platform. Halozyme
is headquartered in San Diego. For
more information visit www.halozyme.com.
Safe Harbor Statement
In addition to historical
information, the statements set forth above include forward-looking
statements including, without limitation, statements concerning the
possible activity, benefits and attributes of ENHANZE, the possible
method of action of ENHANZE, its potential application to aid in
the dispersion and absorption of other injected therapeutic drugs,
the number of targets licensed for future product development and
commercialization with ENHANZE, potential receipt of future
milestone payments, and statements concerning facilitating more
rapid delivery of injectable medications through subcutaneous
delivery that involve risk and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. The forward-looking statements are
typically, but not always, identified through use of the words
"believe," "enable," "may," "will," "could," "intends," "estimate,"
"anticipate," "plan," "predict," "probable," "potential,"
"possible," "should," "continue," and other words of similar
meaning. Actual results could differ materially from the
expectations contained in forward-looking statements as a result of
several factors, including the number of collaborative targets
actually chosen, whether such products are ultimately developed or
commercialized, whether milestones triggering milestone payments
will be achieved, unexpected expenditures and costs, unexpected
results or delays in development and regulatory review, regulatory
approval requirements, unexpected adverse events and competitive
conditions. These and other factors that may result in differences
are discussed in greater detail in Halozyme's Quarterly Report on
Form 10-Q filed with the Securities and Exchange Commission. Except
as required by law, Halozyme undertakes no duty to update
forward-looking statements to reflect events after the date of this
release.
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SOURCE Halozyme Therapeutics, Inc.