Halozyme Therapeutics Inc (HALO)

[Fred Kadiddlehopper]

HALO Announces First Clinical Dosing In Bristol-Myers Squibb's Phase 1 Trial Of BMS-986179 With Enhanze® Technology

SAN DIEGO, Oct. 25, 2018 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) today announced that Bristol-Myers Squibb (NYSE: BMY) has dosed the first subject in a clinical trial evaluating the safety, pharmacokinetics and pharmacodynamics of BMS-986179, an investigational anti-CD-73 antibody, using Halozyme's proprietary ENHANZE® drug delivery technology.

"Since the signing of our collaboration with Bristol-Myers Squibb in September 2017, we have formed multiple joint program teams and have made rapid progress to begin assessment of ENHANZE with Bristol-Myers Squibb's extensive immuno-oncology portfolio," said Dr. Helen Torley, president and chief executive officer of Halozyme. "In addition to their initial selection of the PD-1 targeted asset, Bristol-Myers Squibb has chosen to evaluate BMS-986179 in combination with ENHANZE in certain cancers. We look forward to continuing our pursuit of improving the patient treatment experience."

Initiation of the study triggered a $5 million milestone payment to Halozyme under the Collaboration and License Agreement between the companies.