ViroPharma Incorporated (VPHM)

[surf1944]

7:29AM Halozyme Therapeutics and ViroPharma (VPHM) announce $83 million global licensing agreement to develop subcutaneous cinryze (HALO) 6.67 : Halozyme Therapeutics ( HALO) and ViroPharma Incorporated (VPHM) announce the signing of a worldwide exclusive licensing agreement for the use of rHuPH20 (recombinant human hyaluronidase) in the development of a subcutaneous formulation of Cinryze. Under terms of the agreement, Halozyme may receive up to $83 million, commencing with an upfront payment of $9 million and total potential future milestone payments of $74 million dependent upon the achievement of clinical and regulatory targets, plus a 10% royalty on future sales of the combination of Cinryze with rHuPH20. The license provides ViroPharma with exclusivity to C1 esterase inhibition and to the hereditary angioedema indication, along with three additional orphan indications. ViroPharma will fund all development and commercialization expenses for the program. Additional terms of the transaction have not been disclosed.