Halozyme Therapeutics and AbbVie have signed global collaboration and licensing agreement, which involves both companies developing and commercialising products combining proprietary AbbVie compounds with Halozyme’s Enhanze platform.
Under the deal, Halozyme will secure an initial $23m payment from AbbVie, in addition to milestone payments of around $130m for meeting each nine collaboration targets.
The deal will also allow Halozyme to receive tiered royalties from AbbVie, if products under the collaboration are commercialised.
Halozyme Therapeutics president and CEO Dr Helen Torley said: "We are pleased that AbbVie, a global leader in the development of novel therapeutics, has chosen Halozyme’s Enhanze platform to augment their development pipeline.
"AbbVie joins a growing number of top pharmaceutical and biotech companies partnering with Halozyme to develop new formulations that will benefit patients worldwide."
The Enhanze is based on a proprietary recombinant human hyaluronidase enzyme (rHuPH20), which temporarily degrades hyaluronan, a chain of natural sugars in the body, to assist in the dispersion and absorption of other injected therapeutic drugs.
AbbVie will use the technology for more rapid delivery of injectable medications through subcutaneous delivery.
The Enhanze platform is claimed to benefit subcutaneous biologics by reducing the need for multiple injections.
According to Halozyme, the rHuPH20 claimed to remove traditional limitations on the volume of biologics that can be delivered subcutaneously and by using it, some biologics and compounds that are administered intravenously may instead be delivered subcutaneously.