Halozyme gets $5.5M Baxter payment

Halozyme Therapeutics, a San Diego, USA-based biopharmaceutical company developing and commercializing products targeting the extracellular  matrix for the endocrinology, oncology, dermatology and drug delivery  markets, has received $5.5 million from Baxter Healthcare Corp  representing the final pre-paid product-based amount due under the terms  of its Hylenex (hyaluronidase human injection) licensing agreement,  which provides Baxter with exclusive distribution rights. The payment  has been booked as deferred revenue.

Halozyme's portfolio of products and product candidates is based on  intellectual property covering the family of human enzymes known as  hyaluronidases and additional enzymes that affect the extracellular  matrix. Its Enhanze Technology is a novel drug-delivery platform  designed to increase the absorption and dispersion of biologics. The  companyhas key partnerships for Swiss drug major Roche's biological  therapeutic compounds for up to 13 targets and Baxter BioScience for  its biological therapeutic compound, Gammagard Liquid.