Halozyme Therapeutics Inc (HALO)

[DewDiligence]

ABBV licenses HALO’s rHuPH20 technology for undisclosed products (of which one could be a new formulation of Humira):

http://finance.yahoo.com/news/halozyme-enters-global-collaboration-licensing-123000973.html

Under the terms of the agreement, Halozyme will receive an initial $23 million payment, followed by milestone payments totaling approximately $130 million for each of up to nine collaboration targets. These payments are subject to AbbVie's achievement of specified development, regulatory and sales-based milestones. In addition, AbbVie will pay Halozyme tiered royalties if products under the collaboration are commercialized.

The Halozyme ENHANZE platform is based on a proprietary 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. For AbbVie, this technology may allow for more rapid delivery of injectable medications through subcutaneous delivery.