Halozyme creating 'Enhanzed' biologics for Pfizer in $500M deal

Halozyme Therapeutics ($HALO) has hooked up with Pfizer ($PFE) to combine Pfizer's biologics with Halozyme's Enhanze drug delivery technology. The drug delivery technology, which is based on Halozyme's patented recombinant human hyaluronidase enzyme (rHuPH20), allows subcutaneous delivery of large molecules and could cut the need for intravenous delivery. The collaboration includes Pfizer's biologics directed to up to 6 targets and snags Halozyme an initial payment of $8 million. The final deal value could be in excess of $507 million in development, regulatory and sales-based milestones, as well as royalties on net sales. According to sister publication FierceBiotech, Halozyme's stock price rose 17.75% to $6.55 in premarket trading on the news. Press release