Bristol-Myers Squibb has entered a global collaboration and licence agreement to use Halozyme Therapeutics’ Enhanze drug-delivery technology for the development of its subcutaneously administered immuno-oncology treatments.
The Enhanze technology is based on Halozyme’s patented recombinant human hyaluronidase enzyme (rHuPH20) that removes traditional limitations on the volume of biologics that can be delivered subcutaneously.
To assist in the dispersion and absorption of other injected therapeutic drugs, rHuPH20 is used to temporarily reduce hyaluronan, which is a glycosaminoglycan or chain of natural sugars in the body.
Bristol-Myers Squibb chief commercial officer Murdo Gordon said: “Through our work with Halozyme, we hope to improve the patient treatment experience by developing flexible and convenient treatment delivery options.”
The Halozyme technology facilitates the easy delivery of large-volume injectable medications through subcutaneous delivery.
Under the terms of the deal, Halozyme will be entitled to receive an initial $105m for access to the drug-delivery technology and will have the potential to earn milestone payments of up to $160m for each of the nominated collaboration targets. It will also receive additional milestone payments for combination products.
The collaboration might have the provision to extend to a maximum of 11 targets.
Halozyme will receive royalties from Bristol-Myers Squibb on sales of products developed using the Enhanze technology.
The current deal is subject to customary antitrust clearance by the US Department of Justice and Federal Trade Commission pursuant to the Hart-Scott-Rodino Act.