Bristol-Myers Squibb has announced that it has entered a global collaboration and license agreement to use Halozyme Therapeutics’ Enhance drug delivery technology. This agreement has been made for the development of its subcutaneously administered immuno-oncology treatment.
This Enhanced technology is mainly based on Halozyme’s patented recombinant human hyaluronidase enzyme (rHuPH20) which is known to remove the traditional limitations on the volume of biologics that can deliver subcutaneously.
Recombinant human hyaluronidase enzyme (rHuPH20) is used to aid in dispersion and absorption of the other injected therapeutic drugs. Hyaluronan is a glycosaminoglycan or chain of natural sugars in the body that will be reduced with the help of rHuPH20.
Murdo Gordon, chief commercial officer, Bristol-Myers Squibb 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 mainly facilitates the easy delivery of large volume injectable medications through the subcutaneous delivery. According to the deal, Halozyme will be entitled to receive around $105m as an initial amount for access to the drug-delivery technology. Halozyme will have the potential to get the payments of up to $160m for each of the nominated collaboration targets. Additional payments will be received for combination products.
Halozyme is going to receive royalties from Bristol-Myers Squibb on sales of products developed using the enhanced technology.
This current deal is primarily subjected to the customary antitrust clearance by US Department of Justice and Federal Trade Commission pursuant to the Hart-Scott-Rodino Act.