Halozyme Gets $105M In Deal With Bristol-Myers Squibb

San Diego-based Halozyme Therapeutics announced this morning that it has entered into a global collaboration and license agreement with Bristol-Myers Squibb, where Bristol-Myers Squibb will pay it $105M to license its ENHANZE drug-delivery technology. In addition, Halozyme said it has the potential to earn an additional $160M in milestone payments in the deal, based on specific development, regulatory and sales-based milestones. Halozyme said its ENHANZE technology uses a recombinant human hyaluronidase enzyme (rHuPH20) that temporarily degrades hyaluronan, a chain of natural sugars in the body, to aid in the dispersion and absorption of other injected therapeutic drugs.