(RTTNews) - Halozyme Therapeutics, Inc. (HALO) has inked a global collaboration and license agreement with GSK plc (GSK) to develop subcutaneous formulations of multiple promising oncology targets.
Under the agreement, GSK has licensed Halozyme's ENHANZE drug delivery technology for the development and potential commercialization of subcutaneous administration of multiple oncology targets, including antibody drug conjugates (ADCs), as well as an option for additional future drug targets.
This marks the first ENHANZE agreement to include ADC targets, and the first clinical trial is expected to be initiated this year.
GSK will pay Halozyme an upfront amount and make potential future milestone payments. Halozyme will also be entitled to earn royalties on net sales of products developed using ENHANZE technology.
HALO closed Wednesday's trading at $66.35, up 0.73%.
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