Halozyme enters global global collaboration and license agreement with Vertex

Halozyme (HALO) announced its wholly-owned subsidiary, Halozyme Hypercon, entered into a global exclusive collaboration and license agreement with Vertex Pharmaceuticals (VRTX). Under the collaboration, Vertex has licensed Halozyme’s Hypercon technology for use in up to three drug targets. Hypercon is an innovative microparticle technology that allows for hyperconcentration of drugs and biologics, thus reducing injection volume for the same dosage and enabling convenient, at-home administration. Under the terms of the exclusive agreement, Vertex will make a $15M upfront payment to Halozyme and potential future milestone payments. Halozyme will also be entitled to royalties on net sales of products developed using the Hypercon technology.