First Patient Dosed With Second Roche Biologic Formulated With
Halozyme's Recombinant Enzyme Technology
Halozyme to Receive Milestone Payment
SAN DIEGO, Jan. 15, 2009 (GLOBE NEWSWIRE) -- Halozyme Therapeutics, Inc. (Nasdaq:HALO), a biopharmaceutical company developing and commercializing products targeting the extracellular matrix, today announced that Roche has dosed the first patient in a Phase 1 pharmacokinetic clinical trial with a subcutaneous formulation using Enhanze(tm) Technology of a biologic directed to a second Roche exclusive target. This has triggered a milestone payment under the agreement.
"This is the second clinical trial initiated by Roche within a short timeframe and illustrates the rapid and efficient approach Roche is taking to develop different biologicals simultaneously with Enhanze Technology," said Jonathan Lim, M.D., Halozyme's President and CEO.
Halozyme Roche Collaboration
In December 2006, Halozyme entered into an agreement with Roche to apply Halozyme's proprietary Enhanze Technology to Roche's biological therapeutic compounds. Under the terms of the agreement, Roche paid Halozyme an initial payment for the application of its recombinant human enzyme, rHuPH20, to three pre-defined Roche biologic targets. In December 2008, Roche selected a fourth biologic target and has the option to exclusively develop and commercialize rHuPH20 with an additional nine targets. Pending the successful achievement of a series of clinical, regulatory, and sales events, Roche may pay Halozyme additional milestones as well as royalties on potential future product sales. Under the collaboration, Roche has access to Halozyme's expertise in developing and applying rHuPH20 to Roche targets. Roche obtained a worldwide, exclusive license to develop and commercialize product combinations of rHuPH20 and Roche target compounds resulting from the collaboration.
About Halozyme Therapeutics, Inc.
Halozyme is a biopharmaceutical company developing and commercializing products targeting the extracellular matrix for the endocrinology, oncology, dermatology and drug delivery markets. The company's portfolio of products and product candidates is based on intellectual property covering the family of human enzymes known as hyaluronidases and additional enzymes that affect the extracellular matrix. Halozyme's Enhanze(tm) Technology is a novel drug delivery platform designed to increase the absorption and dispersion of biologics. The company has key partnerships with Roche to apply Enhanze Technology to Roche's biological therapeutic compounds for up to 13 targets and with Baxter BioScience to apply Enhanze Technology to Baxter's biological therapeutic compound, GAMMAGARD LIQUID. Halozyme's research pipeline candidates target significant areas of unmet medical need. For more information visit www.halozyme.com.
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Safe Harbor Statement
In addition to historical information, the statements set forth above include forward-looking statements (including, without limitation, statements concerning Roche's progress under the collaboration and the potential achievement of various milestones) that involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements are also identified through use of the words "believe," "enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict," "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including regulatory approval requirements and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the company's reports on Forms 10-K, 10-Q, and other filings with the Securities and Exchange Commission.