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Halozyme Licensing Deal Valued at $63M

Xconomy San Diego — 

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.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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