Halozyme Announces Expansion of Global Collaboration and License Agreement with argenx for ENHANZE®
Halozyme Therapeutics (NASDAQ: HALO) announced an expansion of its global collaboration with argenx for the ENHANZE® drug delivery technology. argenx has nominated four new targets, bringing the total to six exclusively licensed targets, including the neonatal Fc receptor (FcRn) for VYVGART® Hytrulo. Halozyme will receive a total upfront payment of $30 million for exclusive rights to these targets.
The agreement includes potential future milestone payments of up to $85 million per nominated target and a tiered mid-single digit royalty rate based on annual net sales. This expansion strengthens Halozyme's relationship with argenx, a leader in immunology, and supports argenx's goal of expanding their immunology pipeline with subcutaneous delivery of therapeutics.
Halozyme Therapeutics (NASDAQ: HALO) ha annunciato un'espansione della propria collaborazione globale con argenx per la tecnologia di somministrazione di farmaci ENHANZE®. argenx ha nominato quattro nuovi bersagli, portando il totale a sei bersagli in licenza esclusiva, incluso il recettore neonatale Fc (FcRn) per VYVGART® Hytrulo. Halozyme riceverà un pagamento iniziale totale di 30 milioni di dollari per i diritti esclusivi su questi bersagli.
L'accordo include potenziali pagamenti per traguardi futuri fino a 85 milioni di dollari per bersaglio nominato e una royalty a livello medio singolo a scaglioni basata sulle vendite nette annuali. Questa espansione rafforza la relazione di Halozyme con argenx, leader in immunologia, e supporta l'obiettivo di argenx di espandere il proprio portafoglio immunologico con la somministrazione sottocutanea di terapeutici.
Halozyme Therapeutics (NASDAQ: HALO) anunció una expansión de su colaboración global con argenx para la tecnología de entrega de medicamentos ENHANZE®. argenx ha nominado cuatro nuevos objetivos, llevando el total a seis objetivos con licencia exclusiva, incluido el receptor neonatal Fc (FcRn) para VYVGART® Hytrulo. Halozyme recibirá un pago inicial total de 30 millones de dólares por los derechos exclusivos sobre estos objetivos.
El acuerdo incluye pagos por hitos futuros de hasta 85 millones de dólares por objetivo nominado y una tasa de regalías escalonada de un solo dígito medio basada en las ventas netas anuales. Esta expansión fortalece la relación de Halozyme con argenx, un líder en inmunología, y apoya el objetivo de argenx de ampliar su cartera de inmunología con la entrega subcutánea de terapéuticos.
Halozyme Therapeutics (NASDAQ: HALO)는 argenx와의 글로벌 협력 관계 확장을 발표했습니다. ENHANZE® 약물 전달 기술을 위한 것입니다. argenx는 네 개의 새로운 표적을 지명하여 총 여섯 개의 독점 라이선스 표적으로 증가시켰으며, 여기에는 VYVGART® Hytrulo 용 neonatal Fc 수용체 (FcRn)가 포함됩니다. Halozyme는 이러한 표적에 대한 독점 권리에 대해 총 3천만 달러의 선급금을 수령할 것입니다.
이 계약에는 지명된 각 표적에 대해 최대 8천5백만 달러의 미래 이정표 지급 가능성과 연간 순 매출을 기반으로 한 중간 단일 자릿수의 단계적 로열티율이 포함됩니다. 이번 확장은 면역학 분야의 선두주자인 argenx와 Halozyme의 관계를 강화하고, argenx가 치료제의 피하 투여로 면역학 파이프라인을 확장하려는 목표를 지원합니다.
Halozyme Therapeutics (NASDAQ: HALO) a annoncé une expansion de sa collaboration mondiale avec argenx pour la technologie de livraison de médicaments ENHANZE®. argenx a nommé quatre nouveaux cibles, portant le total à six cibles sous licence exclusive, y compris le récepteur Fc néonatal (FcRn) pour VYVGART® Hytrulo. Halozyme recevra un paiement initial total de 30 millions de dollars pour les droits exclusifs sur ces cibles.
Le contrat inclut des paiements futurs potentiels liés à des jalons pouvant atteindre 85 millions de dollars par cible nommée et un taux de redevance échelonné à un chiffre moyen basé sur les ventes nettes annuelles. Cette expansion renforce la relation de Halozyme avec argenx, un leader en immunologie, et soutient l'objectif d'argenx d'élargir son portefeuille en immunologie avec la livraison sous-cutanée de thérapies.
Halozyme Therapeutics (NASDAQ: HALO) gab eine Expansion seiner globalen Zusammenarbeit mit argenx für die ENHANZE® Wirkstoffabgabe-Technologie bekannt. argenx hat vier neue Zielstrukturen nominiert, wodurch die Gesamtzahl auf sechs exklusiv lizenzierte Zielstrukturen ansteigt, einschließlich des neonatalen Fc-Rezeptors (FcRn) für VYVGART® Hytrulo. Halozyme erhält eine gesamt eine Vorauszahlung von 30 Millionen Dollar für die exklusiven Rechte an diesen Zielen.
Die Vereinbarung umfasst potenzielle zukünftige Meilensteinzahlungen von bis zu 85 Millionen Dollar pro nominiertem Ziel sowie einen gestaffelten mittleren einstelligen Lizenzsatz, der auf den jährlichen Nettoumsätzen basiert. Diese Erweiterung stärkt die Beziehung von Halozyme zu argenx, einem führenden Unternehmen im Bereich Immunologie, und unterstützt argenx’ Ziel, ihre Immunologie-Pipeline mit subkutaner Abgabe von Therapeutika zu erweitern.
- Expansion of collaboration with argenx, adding four new targets for a total of six
- Upfront payment of $30 million ($7.5 million per target) to Halozyme
- Potential future milestone payments of up to $85 million per nominated target
- Tiered mid-single digit royalty rate based on annual net sales
- Strengthens Halozyme's position in rapid subcutaneous drug delivery technology
- None.
Insights
This expanded collaboration between Halozyme and argenx is a significant development for Halozyme. The deal brings in an immediate
The agreement also secures long-term revenue streams through tiered mid-single digit royalties on potential future products. This royalty structure, lasting at least 10 years per product, provides Halozyme with a stable, recurring revenue source that could significantly boost its financials as argenx's pipeline advances.
For investors, this deal demonstrates Halozyme's ability to monetize its technology platform and expand its partnerships. The collaboration with a leading immunology company like argenx also enhances Halozyme's market position and growth prospects in the biopharmaceutical sector.
This expanded agreement signifies a strong vote of confidence in Halozyme's ENHANZE® technology. argenx's decision to nominate four additional targets, bringing the total to six, underscores the platform's versatility and potential in drug delivery innovation.
The inclusion of the FcRn target, already approved as VYVGART® Hytrulo, is particularly noteworthy. This showcases ENHANZE®'s ability to enhance already successful therapies, potentially improving patient experience through subcutaneous administration. The technology's application across multiple immunology targets could lead to a new generation of more convenient and patient-friendly treatments.
For Halozyme, this deal not only provides near-term financial benefits but also positions the company as a key player in the evolving landscape of drug delivery technologies. The long-term nature of the agreement, extending beyond patent expiration, speaks to the enduring value proposition of ENHANZE® in the biopharmaceutical industry.
Four new targets nominated for total of six nominated targets, including FcRn (VYVGART® Hytrulo), for ENHANZE® drug delivery technology
Halozyme to receive total upfront payment of
Under the terms of the expanded exclusive agreement, argenx will make upfront payments of
The royalty rate for all products under the agreement is a tiered mid-single digit rate based on annual net sales until expiration of Halozyme's ENHANZE® related patents, when the rate will be reduced in one or more steps. Royalties will be paid for the longer of 10 years from the first commercial sale or until the expiration of the last valid claim of a co-formulation patent.
"We are very pleased to strengthen our relationship with argenx, an innovative leader in immunology dedicated to improving the lives of people suffering from severe autoimmune diseases. We share argenx's patient centric mission and are united in our commitment to improve the lives of patients. As the leader in rapid subcutaneous drug delivery, ENHANZE has clinically demonstrated shorter administration time, offering patients and healthcare practitioners with more convenience and flexibility in how therapies are delivered," said Dr. Helen Torley, president and chief executive officer. "With the strong proven success of ENHANZE, we look forward to further supporting argenx's momentum as they expand their immunology pipeline with subcutaneous delivery of therapeutics to achieve their Vision 2030."
Tim Van Hauwermeiren, Chief Executive Officer of argenx, added, "We are very excited to have access to Halozyme's leading subcutaneous delivery technology now for six different targets. The expansion of our exclusive access to ENHANZE plays a critical role in solidifying our leadership position and delivering on our commitment to providing life-changing immunology solutions to patients."
About Halozyme
Halozyme is a biopharmaceutical company advancing disruptive solutions to improve patient experiences and outcomes for emerging and established therapies. As the innovators of ENHANZE® drug delivery technology with the proprietary enzyme rHuPH20, Halozyme's commercially-validated solution is used to facilitate the subcutaneous delivery of injected drugs and fluids, with the goal of improving the patient experience with rapid subcutaneous delivery and reduced treatment burden. Having touched more than 800,000 patient lives in post-marketing use in eight commercialized products across more than 100 global markets, Halozyme has licensed its ENHANZE® technology to leading pharmaceutical and biotechnology companies including Roche, Takeda, Pfizer, Janssen, AbbVie, Eli Lilly, Bristol-Myers Squibb, argenx, ViiV Healthcare, Chugai Pharmaceutical and Acumen Pharmaceuticals.
Halozyme also develops, manufactures and commercializes, for itself or with partners, drug-device combination products using its advanced auto-injector technologies that are designed to provide commercial or functional advantages such as improved convenience, reliability and tolerability, and enhanced patient comfort and adherence. The Company has two commercial proprietary products, Hylenex® and XYOSTED®, partnered commercial products and ongoing product development programs with several pharmaceutical companies including Teva Pharmaceuticals and Idorsia Pharmaceuticals.
Halozyme is headquartered in
For more information visit www.halozyme.com and connect with us on LinkedIn and Twitter.
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 and statements concerning certain other potential benefits of ENHANZE® including facilitating more rapid delivery and administration of larger volumes of injectable medications through subcutaneous delivery and potentially lowering the treatment burden for patients. These forward-looking statements also include statements regarding the product development and commercialization efforts of Halozyme's ENHANZE® partner (including the potential regulatory approval and launch of ENHANZE® products as a result of such efforts and the potential future market opportunity for such products) and Halozyme's potential receipt of an upfront payment and payments associated with achievement of certain development, regulatory and sales-based milestones, and royalties on sales of commercialized products. These forward-looking statements involve risks 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 uncertainties concerning whether development, regulatory and sales-based milestones will be achieved, uncertainties concerning whether collaborative products are ultimately developed, approved or commercialized and the potential future market for such products, unexpected expenditures and costs, unexpected results or delays in development and regulatory review, unexpected regulatory approval requirements, unexpected adverse events or patient outcomes and competitive conditions. These and other factors that may result in differences are discussed in greater detail in Halozyme's most recent Annual and Quarterly Reports 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.
Contacts:
Tram Bui
VP, Investor Relations and Corporate Communications
609-359-3016
tbui@halozyme.com
Samantha Gaspar
Teneo
212-886-9356
samantha.gaspar@teneo.com
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SOURCE Halozyme Therapeutics, Inc.
FAQ
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