Halozyme Therapeutics said today it will partner with Eli Lilly to develop and commercialize products that combine the pharma giant’s compounds with Halozyme's ENHANZE™ platform. The deal could generate up to $800 million for Halozyme.
ENHANZE is based on Halozyme’s recombinant human hyaluronidase enzyme (rHuPH20), which is designed to allow injection of some biologics and compounds that are now administered intravenously. rHuPH20 temporarily degrades hyaluronan in order to aid in the dispersion and absorption of other injected therapeutic drugs.
Lilly reasons that the technology may allow for faster delivery of injectable drugs.
“Halozyme's ENHANZE technology will provide a platform for our scientists to optimize delivery of Lilly medicines through subcutaneous injection,” Divakar Ramakrishnan, Ph.D., Lilly’s vp of delivery and device research and development, said in a statement.
Added Halozyme president and CEO Helen Torley, M.B.Ch.B.: “Through collaborators like Lilly, we see a growing opportunity to work both at an earlier stage of drug development as well as with products that are entering the clinic on formulations that have the potential to benefit patients worldwide.”
Lilly agreed to pay Halozyme an initial $25 million payment, followed by milestone payments of up to $160 million for each of up to five collaboration targets, for a total value of up to $800 million. The payments are tied to Lilly achieving development, regulatory, and sales-based mlestones.
Lilly also agreed to pay Halozyme mid-single digit royalties for products that are commercialized through the collaboration.
Headquartered in San Diego, Halozyme has established numerous partnerships with pharma giants tied to its ENHANZE platform. In addition to Lilly, Halozyme’s pharma partners include AbbVie, Baxalta, Janssen, Pfizer, and Roche.