WASHINGTON (dpa-AFX) - Halozyme Therapeutics, Inc. (HALO) announced an expansion of its global collaboration with argenx SE(ARGX), granting the company exclusive access to its ENHANZE drug-delivery technology for two additional therapeutic targets, increasing the total number of licensed targets from six to eight. The companies did not disclose the two new targets.
Halozyme's ENHANZE drug-delivery technology uses its proprietary rHuPH20 enzyme to enable the subcutaneous delivery of injectable drugs and fluids, and is designed to offer a more convenient alternative to intravenous administration.
The expansion is intended to support the development and commercialisation of additional subcutaneous therapies in Argenx's immunology pipeline, building on the companies' collaboration that led to VYVGART Hytrulo.
Under the agreement, Halozyme is eligible to receive payments upon achievement of agreed-upon milestones and will receive royalties on net sales of products using ENHANZE.
'This expanded agreement strengthens our growing portfolio of partnered programs and reinforces the significant long-term opportunity for ENHANZE across a broad range of therapeutic areas' said Helen Torley, President and Chief Executive Officer of Halozyme.
Halozyme said ENHANZE has reached more than one million patients, with 10 products commercialised across more than 100 markets. The technology is licensed to several major drugmakers, including Roche, Takeda, Pfizer, Janssen, AbbVie, Eli Lilly and Bristol Myers Squibb.
HALO has traded between $61.23 and $116.85 over the last year. The stock closed Tuesday's trade at $109.72, up 1.30%.
ARGX has traded between $661.85 and $1,072.75 over the last year. The stock closed Tuesday's trade at $930.52,up 1.93%.
In after-hours trading, ARGX is currently up 0.40% at $934.25
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