Halozyme and argenx Expand Collaboration

Halozyme Therapeutics, Inc. (NASDAQ: HALO) has announced that argenx has nominated four new targets under their global collaboration and licensing agreement, granting argenx exclusive access to Halozyme's ENHANZE® drug delivery technology. This proprietary recombinant human hyaluronidase PH20 enzyme (rHuPH20) enables rapid subcutaneous drug delivery. With this expansion, argenx now holds exclusive rights to ENHANZE® for six targets, including the neonatal Fc receptor (FcRn). Their branded FcRn blocker, VYVGART® Hytrulo, is FDA-approved for chronic inflammatory demyelinating polyneuropathy and generalized myasthenia gravis, with additional approvals in over 25 countries.

As part of the expanded agreement, argenx will pay $7.5 million for each new target nomination, totaling $30 million to Halozyme, along with potential future milestone payments up to $85 million per target based on development, regulatory approvals, and sales achievements.

The royalty rate for all products under this agreement will be a tiered mid-single digit percentage based on annual net sales, continuing until Halozyme's ENHANZE® patents expire. Royalties will last for 10 years from the first commercial sale or until the last valid co-formulation patent claim expires.

Dr. Helen Torley, Halozyme's president and CEO, expressed satisfaction in strengthening their partnership with argenx, highlighting a shared mission to enhance the lives of patients with severe autoimmune diseases. She noted that ENHANZE® has been clinically proven to reduce administration times, providing greater convenience for patients and healthcare providers. Looking ahead, she anticipates further supporting argenx's efforts to expand their immunology pipeline through subcutaneous delivery technologies.

Tim Van Hauwermeiren, CEO of argenx, shared enthusiasm for the access to Halozyme's subcutaneous delivery technology for six targets, emphasizing its importance in reinforcing argenx's leadership in the immunology sector and their commitment to delivering impactful solutions to patients.