Halozyme and Incyte partner for drug delivery deal

• Halozyme executed a global collaboration and license agreement with Incyte to develop subcutaneous drug formulations using ENHANZE technology.
• Financial terms include an upfront payment, potential milestone payments, and royalties on net sales for Halozyme.
• The company stated that the partnership aims to advance treatments for mutCALR-expressing myeloproliferative neoplasms.

Halozyme Therapeutics (NASDAQ:HALO) announced a global collaboration and license agreement with Incyte (NASDAQ:INCY) to develop subcutaneous formulations of INCA033989.

The partnership focuses on advancing a first-in-class mutant calreticulin-targeted monoclonal antibody for mutCALR-expressing myeloproliferative neoplasms using specialized drug delivery technology.

Under the agreement terms, Halozyme will receive an undisclosed upfront payment from Incyte alongside potential milestone payments and royalties on net sales.

Incyte also secured an option to nominate up to two additional targets for use with the ENHANZE drug delivery platform.

Following the announcement, Halozyme's share price was up at $54.20.

The collaboration builds on a series of recent platform licensing agreements aimed at expanding the company's biotechnology footprint across global markets.