Halozyme Therapeutics, Incyte Sign Deal to Develop Subcutaneous Formulations of Blood Cancer Drug

MT Newswires Live07-20 20:45

Halozyme Therapeutics (HALO) said Monday that it has signed a global collaboration and license agreement with Incyte (INCY) to evaluate additional subcutaneous formulations of INCA033989 to treat patients with mutCALR-expressing myeloproliferative neoplasms, a type of rare blood cancer.

Financial terms were not disclosed.

Halozyme said the collaboration will include the use of its ENHANZE drug delivery technology.

Under the agreement, Halozyme said it will receive an upfront payment from Incyte, as well as additional payments if certain milestones are met. The company also said it is eligible to receive royalties on net sales of commercialized medicines using ENHANZE.

Meanwhile, Incyte will have the option to nominate up to two additional targets for use with ENHANZE.

Shares of Halozyme were up close to 3% pre-bell.

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