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Halozyme Licensing Deal Valued at $63M

San Diego’s Halozyme Therapeutics (NASDAQ: HALO) and Foster City, CA-based Intrexon have agreed to use Halozyme’s recombinant human hyaluronidase to develop an injectable formulation of an Intrexon drug for treating alpha 1-antitrypsin deficiency, a genetic disorder that damages the lungs and liver. Under the exclusive worldwide licensing agreement announced yesterday, Intrexon will make a $9 million upfront payment to Halozyme, and as much as $54 million in additional milestone payments. Halozyme also will get royalties on the drug worth up to 11 percent of sales.