BASEL, Switzerland—Halozyme Therapeutics announced that it has entered into an agreement with Roche to apply its Enhanze Technology to a panel of biologicals from Roche. The deal will see Roche pay the Swiss company $20 million upfront and will retain the rights to develop Halozyme's drug delivery technology with ten other agents over the next ten years. The deal, including milestone and royalty payments, is valued around $600 million.
"We believe that our technology can enhance the clinical benefits that biologics have already been shown to provide," said Dr. Jonathan Lim, Halozyme president and CEO. "In every respect, both technically and commercially, this represents a landmark agreement for Enhanze Technology and for Halozyme."
The deal will also see an $11-million equity investment by Roche Venture Fund, representing about 5 percent of Halozyme's outstanding common stock.