Agreement includes $10 million upfront and a $20-million equity investment.
Halozyme Therapeutics and Baxter Healthcare expanded their existing Hylenex recombinant (hyaluronidase human injection) agreements to include the use of Hylenex recombinant with Baxter proprietary and non-proprietary small molecule drugs.
“Hylenex recombinant is the first and only FDA-approved recombinant human hyaluronidase drug product,” says Jonathan Lim, M.D., president and CEO of Halozyme. “We are very proud to expand our relationship with Baxter so that they may make this important drug available to as many people as possible worldwide as a way to simplify the delivery of medications and fluids and, ultimately, provide a more comfortable patient experience.”
Baxter will pay Halozyme an initial upfront payment of $10 million and will make a $20-million equity investment. Pending the successful completion of a series of regulatory and sales events, Halozyme may receive further milestones. It will also obtain royalties on Hylenex recombinant as a standalone product and on any kits and co-formulations of Hylenex recombinant with Baxter or other nonproprietary small molecule drugs. Baxter will assume all development, manufacturing, clinical, regulatory, sales, and marketing costs.
Halozyme retained rights to combinations of Hylenex recombinant with cytostatic and cytotoxic chemotherapeutic agents.
