CAMBRIDGE (MASSACHUSETTS) (dpa-AFX) - Halozyme Therapeutics (HALO) announced its subsidiary, Halozyme Hypercon, entered into a global exclusive collaboration and license agreement with Vertex Pharmaceuticals. Vertex has licensed Halozyme's Hypercon technology for use in up to three drug targets. Vertex will make a $15 million upfront payment to Halozyme and potential future milestone payments. Halozyme will also be entitled to royalties on net sales of products developed using the technology.
Hypercon is a microparticle technology that allows for hyperconcentration of drugs and biologics, thus reducing injection volume for the same dosage and enabling convenient, at-home administration.
In pre-market trading on NasdaqGS, Halozyme shares are up 2.9 percent to $64.93.
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