Halozyme Therapeutics, Inc. (NASDAQ:HALO) has been surging consistently to new highs. The stock gained 0.55% in the last trading session here is the reason why the stock is attaining new heights. Additionally, the Dutch biotech firm has penned a collaborative and license agreement with argenx. The two will utilize each other’s strengths as they help patients suffering from severe autoimmune diseases recover.
The agreement will allow Argenx to explore ENHANZE Technology. In return, the company will make an upfront payment of $30 million to Halozyme. ENHANZE is a drug delivery technology, which enjoys the potential to diminish the number of injections required. It also enables the development of various subcutaneous product formulations usable with the current or future argenx product candidates.
The collaboration gives argenx optimal delivery capabilities of building best-in-class antibodies
There is a lot of gaps in the delivery of the right products into the market. Hence, the duo’s collaboration is well-timed. It comes at a time when there is an increasing demand for a proper profile of the best-in-class antibodies. According to the CEO of argenx, Keith Woods, the collaborations presents them with an opportunity to Keith Woods.
In what seems like an affirmation of Woods’ sentiments, the CEO of Halozyme, Dr. Helen Torley, notes, “This collaboration is an example of the value ENHANZE® can potentially bring while a product is still in development where the benefits of subcutaneous administration can be realized earlier by both patients and healthcare providers.”
Halozyme has established value-driving partnerships
Halozyme’s passion for managing the tumor microenvironment has not been in vain. The San Diego-based biotech has won the hearts of many pharmaceutical companies, which have expressed their interests for partnership. They include Bristol-Myers Squibb, Roche, Alexion, and Pfizer among others. A majority of them are eying Halozyme’s drug delivery technology. The technology has the licensing of nine firms with a target of more than 50 therapeutics.
Meanwhile, the Argenx deal is ranking fifth among the many Halozyme has accomplished in the last two years. Nonetheless, Halozyme says it is not done yet because it is so sure of hitting more significant milestones in partnerships before the year closes.