Avid Bioservices Inc (CDMO)

[cheynew]

Halozyme announced a licensing deal with Roche for $25 mil for their Enhanze product. Avid is one of the manufacturers of rHuPH20 for HALO.

HALOZYME LICENSES NEW ENHANZE® TARGETS FOR $25 MILLION UPFRONT PAYMENT, FUTURE MILESTONES AND ROYALTIES

SAN DIEGO, Oct. 30, 2018 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO), a biotechnology company developing novel oncology and drug-delivery therapies, today announced that it has licensed its ENHANZE® drug-delivery technology to Roche for exclusive development of a new undisclosed clinical stage therapeutic target, with an option to select two additional targets within four years.

Under terms of the agreement, Halozyme will receive an upfront fee of $25 million with the potential to earn additional payments of up to $160 million to $165 million per target subject to achievement of specified development, regulatory and sales-based milestones. Additionally, Halozyme will receive a nomination fee for each of the two additional new target nominations. Halozyme will also receive mid-single digit royalties on sales of commercialized products. The company expects to recognize the initial $25 million payment in the fourth quarter of 2018.