Halozyme Therapeutics has entered a global collaboration and license agreement with Eli Lilly and Co. to develop and commercialize products combining Lilly compounds with Halozyme's ENHANZE platform.
 
Halozyme will receive $25 million upfront, along with milestone payments of as much as $160 million for each target, valued at as much as $800 million. Payments will be based on development, regulatory and sales-based milestones, as well as royalties on any products commercialized.
 
The Halozyme ENHANZE platform uses a recombinant human hyaluronidase Enzyme (rHuPH20) that temporarily degrades hyaluronan, a chain of natural sugars in the body, to aid in the dispersion and absorption of other injected therapeutic drugs. For Lilly, this technology may allow for more rapid delivery of injectable medications through subcutaneous delivery.
 
"We are pleased to collaborate with innovators like Halozyme as we develop our pipeline assets and optimize them for the clinic," said Divakar Ramakrishnan, Ph.D., vice president of delivery and device research and development at Lilly. "Halozyme's ENHANZE technology will provide a platform for our scientists to optimize delivery of Lilly medicines through subcutaneous injection."
 
"Lilly is one of the most respected brands and innovators in pharmaceutical development and we are pleased to support their pipeline with our ENHANZE technology platform," said Dr. Helen Torley, president and chief executive officer. "Through collaborators like Lilly, we see a growing opportunity to work both at an earlier stage of drug development as well as with products that are entering the clinic on formulations that have the potential to benefit patients worldwide."