Halozyme Therapeutics (NASDAQ:HALO) said its subsidiary has entered into an exclusive collaboration and licensing agreement with Vertex Pharmaceuticals (NASDAQ:VRTX) covering the use of Halozyme’s Hypercon drug delivery technology.
Under the terms of the agreement, Vertex has obtained rights to use the Hypercon microparticle platform for up to three drug targets. The technology is designed to concentrate drugs and biologics into smaller volumes while maintaining the same dosage, potentially enabling more convenient at-home administration.
As part of the deal, Vertex will pay Halozyme $15 million upfront and may make additional payments tied to development and commercial milestones. Halozyme will also be eligible to receive royalties on net sales of any products developed using the Hypercon platform.
“This collaboration with Vertex underscores the versatility and potential of our Hypercon technology to enable small volume, patient-delivered next generation biologics,” said Helen Torley, President and Chief Executive Officer of Halozyme.
Mark Bunnage, Executive Vice President and Chief Scientific Officer of Vertex Pharmaceuticals, said the company is “pleased to add Halozyme’s Hypercon drug delivery technology to our toolbox as we pursue transformative therapies for patients with serious diseases.”