Halozyme Therapeutics, a San Diego, California-based bio/pharmaceutical company, has agreed to acquire Elektrofi, a bio/pharmaceutical company with a microparticle technology for biologics, in a deal worth up to $900 million ($750 million upfront and $150 million in milestone payments).  

Elektrofi’s microparticle technology, Hypercon, is a technology that enables high protein concentrations while maintaining syringeability, which is the ability to inject smoothly and easily. Hypercon enables biologic product formulation concentrations of 400-500 mg/mL. The increased concentration reduces the volume of injection for the same dosage to enable at-home and in healthcare practitioner office administration of biologics, including via small-volume auto-injectors or with Halozyme’s high-volume auto-injectors. 

Halozyme develops, manufactures and commercializes, for itself or with partners, drug-device combination products using its advanced auto-injector technologies that are designed to provide commercial or functional advantages such as improved convenience, reliability and tolerability, and enhanced patient comfort and adherence. The company has two commercial proprietary products, Hylenex- and Xyosted-partnered commercial products and ongoing product development programs with Teva Pharmaceuticals and McDermott Laboratories Limited, an affiliate of Viatris. It is also has a drug-delivery technology, Enhanze, which uses a proprietary recombinant human hyaluronidase enzyme, which is used to facilitate the subcutaneous delivery of injected drugs and fluids. The company out-licenses the technology to partner bio/pharmaceutical companies.  

The transaction, which is comprised of an upfront payment of $750 million and up to three $50-million milestone payments contingent on three separate product regulatory approvals, was unanimously approved by the Boards of Directors of both Halozyme and Elektrofi. Royalty revenues are projected to begin in 2030. In addition, up to $275 million in potential development and commercial milestone payments from Elektrofi’s existing two partner products are expected to enter clinical development by year-end 2026. 

Source: Halozyme Therapeutics